Nov 14 (AD) President Ranil Wickremesinghe, in his budget proposals for the fiscal year 2023, proposed to re-implement the paying wards system in govt hospitals. As the first phase, this system will be established at national and base hospitals, the Head of State said further. Among President Wickremesinghe’s proposals for the health and sanitation facilities was the upgrading of Badulla, Kurunegala and Polonnaruwa hospitals to the level of teaching hospitals. more..

Nov 14 (DM) The captain of the SL women's rugby team, Dulani Pallekondage, who has come to South Korea to participate in the second leg of the Asia Rugby Sevens Series, has gone missing after the tournament. Team manager has informed the police about this through the officials of the Korean Rugby Union, and Namdong police in Incheon have started an investigation. SL men's and women's teams that participated more..

Nov 14 (EN) Stock Market will not be greatly affected by the 2023 budget as most of the major elements such as the taxes have already been factored in by the investors, analysts say. Prez Ranil Wickremesinghe presented the 2023 budget in parliament today after CSE closed for trade. Heading up to the budget reading, the market mostly moved on thin volumes as investors waited for some direction from the budget. The market in the last ten days has seen the index losing 2.7% more..

Nov 14 (NR) Six SLPP MPs who declared themselves independent MPs in Parliament have joined the SJB. Accordingly, MPs Anura Priyadarshana Yapa, Sudarshini Fernandopulle, Chandima Weerakkody, WDJ Seneviratne, Jayarathne Herath, and Piyankara Jayaratne join the Alliance. Leader of the Opposition Sajith Premadasa commended the MPs for joining hands to work towards rebuilding the country, adding that unity is crucial in working more strongly and more..

Nov 14 (TN) The Booker Prize-winning author Shehan Karunatilaka has lamented the state of Sri Lanka today after natural disasters, poor economic management and political failure pushed his island nation home to the brink of collapse. Speaking to The National at the Sharjah Int'l Book Fair, Karunatilaka, 47, said the peril his nation faced quickly vanished from the headlines shortly after protests caused the last govt to fall in July. more..

Nov 14 (TM) Danushka Gunathilaka will be making another bid for bail, just days after details of his alleged sexual assault of a Sydney woman were revealed in court. Less than one week after the international sportsman was refused bail in the Downing Centre Local Court, Mr Gunathilaka’s lawyers made a brief appearance in SC on Monday after filing a fresh application. The registrar set down a date of Dec 8 for the cricketer, with the hearing expected to take just half an hour. more..

Nov 14 (AD) Prez presenting the 2023 Budget, proposed to increase the fees levied by the Dept of Immigration and Emigration on passport, visa and other charges by 20%. Prez, who pointed out that the increase in non-tax revenue is also important in the fiscal consolidation process, proposed to increase the fees and charges with effect from the year 2023. However, the relevant fees and charges that have already been increased in the years of 2020, 2021, and 2022 will not be revised more..

Nov 14 (AD) Prez Ranil Wickremesinghe today announced several proposals to promote the use of electric cars locally as well as assembling them and to promote the production of electricity using renewable energy and to encourage the local production of related solar panels. Delivering the 2023 budget speech in parliament today, he proposed to remove the Port and Airport Development Levy and Social Security Levy on solar panels used to produce solar energy more..

Nov 14 (Island) Colombo Archbishop Malcolm Cardinal Ranjith has called on Catholic lawyers to remain politically independent as the country is in crisis. Delivering the homily at the Annual Lawyers Red Mass last week at the All Saints Church, in Borella, the Cardinal said that Catholic lawyers had to uphold honesty. “Fear only God as you are accountable to God, one day. You need to be the moral conscience of this nation,” the Cardinal said, adding that Catholics in the legal profession more..

Nov 14 (EN) Loans given by the Exim Bank of China to several state enterprises and govt guaranteed loans taken by CPC will be taken by the central govt, Prez Ranil Wickremesinghe said. Exim Bank of China funded a coal plant for state-run CPC which was determined by the Auditor General as perhaps the best investment made by Sri Lanka since hydro plants in the Mahaweli multi-purpose scheme. SL Airport also had a loan to more..

Nov 14 (Island) The UN has estimated that the world’s population will reach eight billion by Nov 15. It has further said in a report that India will replace China as the world’s most populous nation in 2023.The projection was revealed in UN World Population Prospects 2022 released on World Population Day on July 11 this year but is gaining traction now as the projected deadline is just days away. The agency also stated that the global population growth fell below 1% in 2020 more..

Nov 14 (TM) Marking a monumental first for the economic and cultural relations between Sri Lanka and Taipei (ROC), Taipei based business conglomerate VeriWell Technology Co. cemented its position in the business landscape of Sri Lanka with the recent opening of its Colombo based office, a media release by the company stated. “Since its inception in 2020, VeriWell Technology Co. has emerged as a pragmatic group of companies with the intention of embracing both SL & Taipei. more..

Nov 14 (Island) Over 300 SL refuge seekers currently, in Vietnam, are pleading with the UNHCR to not return them to SL and instead resettle them in a third country, as refugees. Vietnamese Coast Guard vessels on Tuesday rescued 303 suspected illegal migrants from SL, including many children, who were at risk, drifting on the high seas between Vietnam and the Philippines, when their vessel had broken down. more..

Nov 14 (EN) Sri Lanka is targeting a 7.9% of GDP deficit in 2023, down from a provisional 9.8% in 2022, with higher revenue offset by steep rise in interest costs, a budget presented by Prez Ranil Wickremesimghe shows. SL is expecting to boost revenue to 3,415 billion rupees in 2023, from 2,094 expected in 2022 partly helped by tax hikes and inflationary revenues. Recurrent spending is expected to rise to 4,609 billion rupees from 3,620 billion rupees or to 11.3% of an inflated GDP. more..

Nov 14 (FT) Ceylon Institute of Builders (CIOB) is calling on the Central Bank, multilateral funding agencies and the banks to come together to discuss and revive the crisis-hit construction sector putting thousands of people out of livelihoods. Aimed at realising this objective, CIOB will hold a multi-stakeholder forum tomorrow at the SL Foundation Institute, Colombo 7 from 4:30 p.m. to 6:30 p.m. To revive the construction sector, CIOB has made three recommendations. more..

Nov 14 (DM) The govt is gaining profits from all Petroleum products with the recent price revision, according to minister Kanchana Wijesekera. He revealed the cost breakdown of fuel imports after the recent price revision of fuel today. During the latest price revision, the price of Auto Diesel was increased by Rs. 15 and Kerosene oil by Rs. 25 per litre. Accordingly, Rs. 22.71 is profited from a litre of Octane 92 Petrol, while a gain of Rs. 126.49 from selling a litre of Octane 95 Petrol. more..

Nov 14 (TM) Northwest Marine Lanka broke new ground in SL’s boat-building industry last week with the commencement of the construction of its new boat-building facility at the Dikkowita Fisheries Harbour complex in Wattala. Northwest Marine Lanka Chairman Jagath Udayakumara unveiled his idea of establishing a training centre for apprentices to build fibreglass naval craft within Northwest Marine Lanka Dikkowita Harbour boatyard. “This will add employment opportunities for our more..

Nov 14 (EN) SL has aimed at increasing tax revenue by 69% to fund govt spending in the crisis-hit economy, but analysts say the 2023 budget failed to address core issues on excess spending and articulate strong policies on restructuring loss making state owned enterprises (SOEs). Prez Ranil Wickremesinghe in his capacity as the finance minister presented the 2023 budget which he said will lay the foundation for more..

Nov 14 (EN) “Fears of additional taxes such as wealth tax, increase in VAT, additional taxes on revenue etc. came to rest with the announcement of the 2023 budget proposals. Ending of uncertainty and speculation is a positive.” “But it would have been better if there was time bounded targets for increasing government revenue from measures such as divesting state owned assets and SOEs. Just a mere mention of the intention of divestiture may not hold water. more..

Nov 14 (EN) SL will set up a company to manage bad loans in banks Prez Ranil Wickremesinghe said as a currency crisis has hit consumer demand and interest rates are soaring after macro-economists printed money to target an output gap. “I propose to introduce a new Financial Asset Management Companies Act to enable banks and finance companies to separate and transfer their nonperforming bad assets to an asset management company,” Prez Wickremesinghe said more..

Nov 14 (Reuters) The crisis-hit SL economy can turn around by the end of 2023 if budget policies, which are not limited to the IMF's recommendations, are followed, Prez Ranil Wickremesinghe said. IMF recommendations have only been looked at to stabilize the economy, Wickremesinghe, who is also the country's finance minister, told parliament, delivering the first annual budget since he took office in July. more..

Nov 14 (AD) Prez Wickremesinghe, presenting the 2023 Budget, stated that the vehicles seized at the SL Customs owing to non-payment of applicable taxes and other reasons will be released from the SL Customs, subject to the payment of applicable taxes and fines. Accordingly, any vehicle imported to SL on or after May 22, 2020, but prior to Nov 12, 2021, which is not removed from the SL Customs due to restrictions and prohibitions set out in the regulations made under the provisions of more..

Nov 14 (EN) Sri Lanka will appoint an expert committee to examine the chances of producing cannabis for export, Prez Ranil Wickremesinghe said presenting a budget for 2023. “The possibilities of producing Triloka Wijayapathra purely for the purpose of exports will be examined for which an expert committee will also be set up,” he told parliament. Triloka Wijayapathra is the sanskrit name for cannabis. Cannabis was widely consumed in South Asia for centuries. more..

Nov 15 (DM) Media yesterday reported that a special police investigation has been launched against the Panadura South HQI and his team after they were caught on camera physically assaulting two female protestors and female cops who were on duty on Saturday. SSP Nihal Thalduwa had told media that following the incident, a special team headed by an ASP from the Panadura Division had been appointed by Western Province Senior DIG to probe into the harassment caught on camera. more..

Nov 15 (GV) One striking issue is currently polarising society. Should the country forget about demanding system change and accept the status quo for now to get the economy back on track? The argument is raging hotly on social media where some people are telling protesters to keep quiet and allow the tourists to holiday in peace while activists are demanding an end to repression, the release from prison of their colleagues and the repeal of the Prevention of Terrorism Act (PTA). more..

Nov 15 (TM) As pharmaceutical imports under Indian Line of Credit face further delays, Health Ministry is moving to introduce a simplified method to expedite the importation of urgently-needed essential medicines directly from Indian suppliers. It is learnt that the move was initiated due to the excessive time taken by the relevant stakeholders to approve the necessary documentations required to import medicines. more..

Nov 15 (DM) In the recent past, Sri Lanka has dealt with the Covid-19 pandemic and now an ongoing economic crisis. SL has faced both the pandemic and economic crisis after the end of the country’s civil war (nearly three decades) in 2009. The economic losses that have occurred as a result of the pandemic and economic crisis has not been accounted for just yet. But politically, the ongoing economic crisis has contributed to ousting the previous Prez earlier this year more..

Nov 15 (Island) Thanks to global information overreach, the American midterm elections have been splashed everywhere in everyone’s face. American elections are canonically fixed for their timing, not necessarily for their fairness. Mid-term elections are held between two presidential elections to elect 435 members for a two-year term to the House of Representatives, and a third of the Senate whose 100 members serve a six-year term. In addition, multiple states have their legislature more..

Nov 15 (TM) While economists and analysts believe that the economic impact created by the prolonged power outage is enormous, there has been no study conducted by the Govt to quantify it or to assess how it impacts the Gross Domestic Product (GDP). When contacted the Dept of Census and Statistics and CEB, both institutions acknowledged that a study on the matter had not been carried out yet. more..

Nov 15 (TM) As reported yesterday, quoting Railway Station Masters’ Union (RSMU), number of train derailments reported thus far this year has increased significantly compared to previous years. A total of 104 train derailments have been reported since 2020 to date, including 29 derailments in 2020, 34 in 2021, and 41 in 2022. This, according to the union, is the result of the lack of proper maintenance of the railway lines and imported locomotives that are unsuitable for running on existing tracks more..

Nov 15 (CT) C.W.W. Kannangara supported SL’s Free Education system in an effort to provide lasting value to the country by ensuring that all children in the nation, regardless of social class, economic condition, religion, or ethnic origin, had equal access to education. Because of the man-made economic crisis that has already overtaken SL, the Great Leader’s years of work are now being undone by disrespecting children’s rights to education. Dept of Economics & Statistics at Uni of Peradeniya more..

Nov 15 (ST) Would you believe it! Well, it sure beggars belief. But then anything is possible in the motherland. Nothing seems to surprise the citizenry any longer, not even Deshabandu’s Damoclean sword brushed up as the PTA, dangling over their heads. While the money-making business leaders continue to fatten themselves with the help of the governing class, never mind what political hue they sport, and a reinvigorated hotel industry with puffed-up chests threaten protesters not to tax more..

Nov 15 (ST) Budgets…budgets…budgets! Are people interested in budgets anymore apart from businesses looking for incentives and tax revisions or worried about rising taxes? Since 1970, more than 50 budgets have been presented annually and it was Dr. N.M. Perera, then Finance Minister who broke tradition by introducing the dreaded midnight gazettes that announced tax hikes and price increases of commodities – particularly cigarettes and alcohol. more..

Nov 15 (TM) Human Rights Commission of SL (HRCSL) requested an immediate report from IGP Chandana Wickramaratne on the manhandling of two junior female police officers by a senior police officer that took place on 12 Nov at a protest march. The male officer in question, Chief Inspector of Police (CI) Chamindra Pinto, was seen grabbing two female police officers by the scruffs of their necks, shortly after more..

Nov 15 (Island) All suspects allegedly involved in storming the Presidential Secretariat and forcibly occupying a section of it during Aragalaya, a few moons ago, are reported to have been arrested. Other protesters who forced themselves into Prez’s House, PM’s Office and Temple Trees are also being arrested. Besides, the police have gone into overdrive to crush anti-govt protests. On Saturday, they swooped on two women who were walking from Kalutara to Colombo in protest more..

Nov 15 (FT) Bank of Ceylon has announced the appointment of Russel P.H. Fonseka as the new General Manager. Prior to this appointment, Fonseka was the Additional General Manager/Chief Financial Officer. He succeeds K.E.D. Sumanasiri who retired recently. Fonseka is a career banker and has over 33 years of experience in Bank of Ceylon and has played a pivotal role towards the success of the Bank by deploying his expertise in many varied roles which include Retail Lending, Corporate more..