Jul 2 (TM) In the midst of a fluctuating rupee, reducing inflation, and interest rates, Sri Lanka seems to be on the right track towards recovery. Exchange rate fluctuations are no surprise and I would submit that the fortunes of the SL Rupee (LKR) during this period should not be used to judge the trajectory of the recovery. In this article, I intend to critique vital aspects of the current trajectory and will attempt to articulate the basis for my scepticism of Govt’s present course. more..

Jul 2 (SO) More opportunities should be created for the poor to escape their predicament and climb the social ladder. More economic and social reforms have to be carried out to develop the country and the SJB will support any prudent moves of the Govt in this regard, said SJB MP Eran Wickramaratne. Q: Opposition continues to say that it is against Domestic Debt Restructuring (DDR). What is the reason? more..

Jul 2 (Island) As the week closed the Central Bank and the Finance ministry sought to unveil the long-awaited domestic debt restructuring plan, a prerequisite to attain debt sustainability demanded by the IMF. Ironically, Governor Nandalal Weerasinghe who had vehemently opposed any tinkering with domestic debt last year had to headline the news conference to announce the very same move he had resisted for months. Be that as it may, Weerasinghe cogently put forward more..

Jul 2 (TM) Govt is taking great pains these days to explain to the people that Domestic Debt Restructuring (DDR) – more fashionably described as Domestic Debt Optimisation (DDO) – is not what it is portrayed to be and will in fact have no effect on anything that will directly affect the people. Therefore, the billion dollar question is, what was the hype leading up to it all about? The hype has a history that can be traced back to a presidential address in Parliament some months back, more..

Jul 2 (ST) In week three of the Dialog Schools Rugby League 2023, Royal College kept title hopes alive by collecting their second bonus point win in the game against the visiting Vidyartha College, which ended in favour of the home team 47-3 at the Royal Sports Complex yesterday. The lads from Reid Avenue came out with all guns blazing from opening whistle to beat a hapless Vidyartha, who were completely outplayed by the Royal forwards, who gave plenty of ball to the backs to more..

Jul 2 (SO) Legendary wicket taker Muttiah Muralidaran contends England, Australia, India and Pakistan will make it to the semi finals of the Cricket World Cup scheduled to take place in India in October. SL grabber of 800 scalps said his assesment is based on team strength and current form in an interview courtesy of the ICC in the presence of retired Indian batsman Virender Sehwag who also expressed a similar declaration of potential champions in the 50-over format. more..

Jul 2 (ST) It has been revealed that a Prez Secretariat official is using a vehicle from the Secretariat’s vehicle pool after renting out his personal vehicle to another official at the same office. Thus the official is not only using a vehicle from the Prez Secretariat and obtaining a fuel allowance, but he is also earning an additional income by renting out his own vehicle. He is essentially running a side business in his own office. more..

Jul 2 (ST) Few days after seamer Dushmantha Chameera was ruled out of the World Cup Qualifiers without a match being played, fellow seamer Lahiru Kumara has joined the list of injured after he picked up a side strain during SL’s nervy 21-run win against the Netherlands on Friday. After bowling two overs, Kumara walked off the ground and played no further part in the match. He will return within the next couple of days to start rehabilitation. Team sources from Zimbabwe confirmed his exit more..

Jul 2 (ST) This week saw macroeconomics playing out with economics at the micro-level. On the one hand, Govt was confident enough to take another bold step to reset the country’s debt-ridden economy with a Domestic Debt Optimisation (DDO), also referred to as a DD Restructuring programme, at the macro-level, hand-in-hand with a somewhat revised but eventually botched attempt to identify the poorest of the poor – millions of them, who needed to be provided a safety net to protect more..

Jul 2 (ST) Barring a catastrophe in their last two Super Six games against Zimbabwe and West Indies, SL’s entry into this year’s Cricket World Cup is all but confirmed following their tense 21-run victory over the Netherlands on Friday. That said, SL’s last two wins weren’t as convincing as might have been expected from them because old issues on the batting front were clearly evident. Against the Scots, they managed only 245 runs and were bowled out for 213 against Dutch on Friday. more..

Jul 2 (Island) Fox Jaffna, the cherished ancestral home turned heritage hotel, proudly commemorates its fifth anniversary on June 22. the owners said in a news release. “Since its inception, Fox Jaffna has redefined the sphere of hospitality in Jaffna, enchanting guests with its vibrant history, beautifully landscaped lawns, stunningly appointed swimming pool, authentic cuisine, and unwavering commitment to Jaffna culture,” it said. “Fox Jaffna carefully preserves its colorful history spanning over more..

Jul 2 (TM) National Medicines Regulatory Authority (NMRA) has launched a special investigation following the two incidents reported from Gampaha and Ragama, where a locally-manufactured antibiotic drug has allegedly caused allergic reactions, with a report of one death which may be linked to it. As an immediate response to the incident, the entire batch of the now-questionable drug stock had been withdrawn as per more..

Jul 2 (ICC) Wanindu Hasaranga received an official reprimand for breaching Level 1 of the ICC Code of Conduct during the ICC Men’s Cricket World Cup Qualifier match against Netherlands at Queen’s Sports Club in Bulawayo. The incident occurred after Hasaranga was dismissed, when he aggressively struck the boundary skirtings with his bat upon returning to the pavilion. Following an investigation, Hasaranga was found to have violated Article 2.2 of the ICC Code of Conduct for Players more..

Jul 2 (ST) My dear Deshabindu, I thought of writing to you because everyone is talking about you these days. That is despite not yet being appointed to the top job in the Police–not at the time of writing this anyway, although that might change between now and when this is being read. After all, funny things do happen in Paradise! For several months, there has been so much speculation about who would get this job after Chandana. He too must be in doubt as to whether he will get another 3-month more..

Jul 2 (MB) From time to time, there are media flashes about leopard cubs being rescued and some reports carry moving video footage of how well-meaning village folk, especially estate workers in the central hills, hand these cubs over to wildlife authorities. Unlike the majestic and fiery demeanor of leopard moms and dads, leopard cubs are cuddlesome balls of fur, much like kittens at home. When these adorable creatures more..

Jul 2 (SO) Industrial Development Board Chairman Dr. Saranga Alahapperuma said that an exemption of import tax on raw and intermediary material is being seriously considered by the Ministry of Industries. “A positive response in this regard can be expected before the end of this year.” He said that when there’s an industry to be formulated, registered or with regard to an export or any other job to be done by the govt the entrepreneur needs to go through multiple channels more..

Jul 2 (ST) A 5.8 Richter scale magnitude earthquake yesterday hit the southeast of SL in the Indian Ocean, triggering widespread tremors across the country, including Colombo, the Geological Survey and Mines Bureau said. The bureau’s Acting Director General Ajith Prema said that the earthquake was felt in many areas such as Colombo, Battaramulla, Pepiliyana, Galle, and Akuressa. The earthquake took place at 12.59 pm, some 1,200 km southeast of Hambantota. more..

Jul 2 (ST) Tourism industry has been confronted with another proposal mired in controversy and alleged shady deals leaving the stakeholders wondering what could compel Presidential advisors to insist on the adoption of an insurance scheme for anyone entering the country be it tourist or diaspora. A letter has been sent out to the associations of the tourism industry on June 14 requesting them to adopt an insurance scheme from Lloyds that will then give the SME sector a credit line more..

Jul 2 (EN) SL has hiked taxes on cigarettes and alcohol by around 20% with effect from July 01, in gazette notices issued by the Prez as Finance Minister. SL is trying to raise more taxes to reduce the budget deficit. Taxes on a bottle of the most widely consumed special (gal) arrack which is currently sold around 2750 to 2850 rupees will go up by around 302 rupees. About half the retail price of a bottle of arrack where taxes are legally paid are now excise, VAT and social security levy, more..

Jul 2 (TM) The Ceylon Electricity Board (CEB), which is being restructured to be more cost-effective, may incur around Rs. 37 billion in losses within the coming six months with the introduction of the new tariff revision last week. The total tariff reduction cost as proposed by the CEB for the next six months was around Rs. 10 billion, but the new tariff reduction approved by the PUCSL will cost Rs. 47 billion, more..

Jul 2 (CI) The defeat to Scotland means West Indies are no longer in contention to qualify for the ODI World Cup scheduled later this year in India. The battle for the two spots is now among four teams - SL, Zimbabwe, Scotland and Netherlands. Here is what each of those teams needs to do to finish among the top two: SL: A win against Zimbabwe on Sunday will ensure qualification for SL as only one out of Zimbabwe or Scotland can reach eight points, as they are playing against each other. more..

Jul 2 (ST) Prez Ranil Wickremesinghe is due to submit three names to the Constitutional Council on Tuesday to select the next Inspector General of Police amidst a growing tussle for the topmost position in the Police Department. IGP C.D. Wickremaratne ended his term last Monday after getting two extensions. According to the current seniority list, the names are of Senior DIG (Admin) Nilantha Jayawardena followed by Senior DIG (North Western Province) L.S. Pathinayake, more..

Jul 2 (ST) The Foreign Affairs Ministry has resumed talks with the Chinese Govt to recover US$ 6.2 million which the Sri Lankan Govt paid to purchase organic fertiliser, but was not able to receive the consignment due to an issue of contamination. Agriculture Ministry Secretary Gunadasa Samarasinghe said Foreign Affairs Minister Ali Sabry was holding talks with the Chinese Govt and the Chinese company on how the losses to Sri Lanka could be mitigated. more..

Jul 2 (AD) Investigations have revealed that the trio who recently attacked a prison guard of the Magazine New Remand Prison in Colombo had obtained help from another prison officer to carry out the attack. This was allegedly discovered by the Homicide and Organized Crimes Division, which added that the suspects had reportedly videoed the assault of the warden, and sent it to ill-famed underworld gang member known as Handaya, who currently resides abroad. more..

Jul 2 (ST) Govt’s Domestic Debt Optimisation (DDO) plan was passed by Parliament by a majority of 60 votes. The resolution received 122 votes in favour and 62 against. The resolution for the “implementation of the Domestic Debt Optimisation to restore sovereign debt sustainability” was passed after a debate lasting 10 hours. SLPP MPs in the Govt voted for the resolution. They were joined by several MPs from the opposition. more..

Jul 2 (AD) University of Peradeniya on Saturday hosted an Open Day, to mark the 80th anniversary of the university’s establishment. While the UOP is one of SL’s leading educational institutions, it is also one of the first state universities to host such an Open Day, Deputy Vice Chancellor of the university Prof. Terrence Madhujith said. Accordingly, all nine of the university’s faculties were open to the public today, giving them the opportunity to explore the premises, interact with distinguished faculty more..

Jul 2 (ST) Anine-member Sri Lankan delegation led by Attorney General Sanjaya Rajaratnam will head to Singapore later this month for a meeting with the insurance company of the X-Press Pearl vessel which sank off the Colombo Port in 2021. The delegation will be meeting company representatives on July 18 and 19 in a bid to gain maximum compensation for the disaster. Representatives of the company owning the ship will also be present at the discussions. more..

Jul 2 (ST) Fifty eight years ago when Sri Lanka’s rupee was devalued for the first time, the confusion it caused among the public was considerable. The vast majority who are not conversant in the deeper intricacies of economics or public finance pondered what it meant. After all, there was still one hundred cents that made a rupee, they thought. Many in the govt offered explanations that were embroiled in technicalities not easy to grasp. more..

Jul 3 (TM) The 53rd session of the UNHRC started on 19 June and will continue until 14 July, 2023. It is meeting under the Presidency of the UN representative of the Czech Republic, Vaclav Balek. In brief, the HRC’s main concern is accountability issues in the Member States. In other words, human rights violations, war crimes, and the beginnings of ethnic cleansing are scrutinised through this Council. On this basis, eight resolutions have been passed by the HRC on Sri Lanka. more..

Jul 3 (CT) It is always a matter of controversy when constructions are proposed in a forest area, a protected land, a State forest, or as it was made clear by the recent developments, a mountaintop. Although the exact percentage of the forest coverage in SL is much-debated since there are a lot of demarcations and definitions to forests as well as a multitude of govt authorities other than the Forest Dept and the Dept of Wildlife Conservation which claim authority over governance, more..

Jul 3 (TM) Standard Chartered Bank (SCB) CEO Bingumal Thewarathanthri commended the Govt’s approach on getting Sri Lanka’s economy back on track in Asserting that the economy had made significant progress compared to where it was one year ago, with the key challenge now being debt restructuring. “There is a Domestic Debt Optimisation (DDO) and there will be an external debt restructuring as well. more..

Jul 3 (TM) Sri Lanka yesterday said farewell and sorry, to the majestic Muthu Raja, or Sak Surin as it was known in its birthplace, the tusker that was gifted to Sri Lanka by the Thai Royal family over two decades ago. The tusker was repatriated to Thailand for treatment on Saturday night. With the repatriation of the elephant, SL also eroded the trust that the international community had placed on the island nation, under the assumption that we knew how to take care of wildlife. more..

Jul 3 (ST) Arguments over the impact that the govt’s resolution on Domestic Debt Optimisation (DDO) could have on the EPF and ETF dominated the debate on the Govt’s debt restructuring resolution presented to Parliament. Opening the debate on the resolution for the implementation of the DDO to restore sovereign debt sustainability, State Minister Shehan Semasinghe said the govt enacted many economic reforms in the past few months to win the trust of creditors. more..

Jul 3 (TM) Prez Ranil Wickremesinghe and his Govt yesterday (1) crossed what seemed like the first hurdle in moving forward with the country’s debt restructuring programme. Weeks of speculation over Domestic Debt Restructuring (DDR) and conflicting statements made by Govt members came to an end yesterday with the programme being subjected to a day-long debate and a vote in Parliament. more..

Jul 3 (DM) The domestic debt restructuring plan announced by Govt last Wednesday and passed by parliament on Saturday, targets only one significant domestic financial asset, namely retirement funds. Far reaching changes to the future of working people’s lives are never a done deal, and much can change between the Govt’s plan and what can be politically sustained as resistance mounts. Why did the Govt target retirement funds, what is the cost to working people; what alternatives are more..

Jul 3 (ST) When Chilean-born author Isabel Allende wrote with consummate skill of Chile’s disappeared under Pinochet’s dictatorship in her best-selling book, Of Love and Shadows (1987), about the mothers who, were no longer afraid and had no hesitation about placing their lives in jeopardy though life was all they had left; everything else had been taken from them, she was writing of conflicts past, present and future. She could have been writing of conflicts past, present & future. more..