Jul 6 (EN) Stocks closed up with banks leading the charge after domestic bond restructuring assurances, policy rates were cut and inflationary pressure likely to reduce has been given driving investor sentiment, brokers said. ASPI closed up 0.18% or 18.34 points to 10,194.47, the most liquid index S&P SL20 was up 0.36% or 10.84 points to 3,002.53. Market generated a turnover of 3.2 billion rupees, majority of the revenue had come from the capital goods sector bringing Rs. 753 mil more..

Jul 6 (AD) The final draft of the new Electricity Act has been handed over to the legal draftsman’s office for clearance and is due to be submitted to the Cabinet approval, Minister Kanchana Wijsekera said. Accordingly, the draft will be presented before the Cabinet of Ministers upon receiving the certification from the Attorney General. Meanwhile, the power sector reform secretariat, which is due to be established, will develop and implement the transition plan together with more..

Jul 6 (DM) Central Bank today said action will be taken against banks if they do not reduce interest rates in line with the reduction in policy interest rates. CB today reduced policy interest rates by 2% after reducing them by 2.5% in June. Now the policy interest rates remain at 11% (deposit) and 12% (lending). CB Governor Dr. Nandalal Weerasinghe said the average weighted lending rate has come down from 29% to about 20% more..

Jul 6 (EN) National Medical Regulatory Authority (NMRA) can consider allowing the import of drugs with a shelf life below 9 months to ease recurring shortages, CEO Vijith Gunesekara said. Drugs with a shelf life below 75% of a year were not cleared by SL Customs at the point of import due to an NMRA regulation, Health Minister Keheliya Rambukwelle had said. “Depending on the supply, gaps, urgency or stock levels, we might consider lower percentages, so that is up to NMRA,” more..

Jul 6 (FT) Sri Lanka is at a crucial juncture in its economic development, with the IMF coming to the rescue for the 17th time after declaring bankruptcy after 74 years of independence. The country’s outdated labour laws must undergo significant reforms to progress and attract foreign investment. The existing legislation, some of which date back a century, has proven to be complex, discriminatory, and inflexible, hindering local industries and foreign investors. more..

Jul 6 (CT) Colombo Additional Magistrate yesterday remanded, till 19 July, four suspects, including a Director of a well-known company in SL, who have been charged with firing several shots, with a T-56 rifle, at the entrance door of a house. The four suspects were identified as Gihan Rajapaksa, a Director of four firms coming under the purview of his Company, Cyril Ratnayake, a former SL Army soldier and more..

Jul 6 (AD) Laugfs Gas PLC, one of the two largest liquefied petroleum (LP) gas suppliers in the country, has also decided to reduce the prices of its domestic gas cylinders following the significant price revision announced by Litro Gas earlier this week. Accordingly, the price of a 12.5 kg cylinder of Laugfs LP gas has been reduced by Rs. 300, bringing down the price to Rs. 3,690. The revised prices are as follows; 12.5kg cylinder – Rs. 3,690 (reduced by Rs. 300); 5kg cylinder – Rs. 1,476 more..

Jul 6 (FT) Colombo High Court Judge Aditya Patabendige yesterday noted that the International Covenant on Civil and Political Rights (ICCPR) Act is currently being implemented in a manner contrary to its intended purpose of introduction by the legislature. Patabendige made the acknowledgement when considering the bail application of Stand Up Comedienne Nathasha Edirisooriya who was detained on 28 May under the act for making alleged derogatory comments more..

Jul 6 (AD) The maximum retail price of locally-manufactured cement will be reduced from Rs. 2,600 to Rs. 2,300 per 50kg bag with effect from today (6). Minister of Trade Nalin Fernando stated that the price of a 50kg cement bag will be reduced by Rs. 300 with effect from today (06). Accordingly, the maximum retail price of locally manufactured cement which is currently Rs.2,600 will be brought down to Rs.2,300 per 50 kg bag from today, according to the minister. more..

Jul 6 (CT) The All Island Canteen Owners’ Association (AICOA) has announced a 10% reduction in the prices of fried rice and kottu, effective yesterday (5). During a media briefing, the association’s Chairman Asela Sampath said the price of a Rs 700 packet of kottu would decrease by Rs 70, while the price of a Rs 1,000 kottu would be reduced by Rs 100. This price adjustment follows Litro Gas Lanka’s announcement of its fourth consecutive price reduction this year. more..

Jul 6 (EN) Sri Lanka’s govt continues to defend its domestic debt optimisation (DDO) programme against opposition criticism, noting that the banking system remains intact and assuring superannuation fund holders that their savings are safe. State Minister of Finance Ranjith Siyambalapitiya said that unlike with SL’s foreign debt holders, domestic holders of govt securities have not been asked to go for a haircut. more..

Jul 6 (DM) Thai Ambassador in SK Poj Harnpol stressed that the Thai govt has not taken any decisions regarding Thai Raja, Kandula Raja or any other elephant gifted to Sri Lanka, although diverse views in this regard appear in social media. During his visit to the Sri Dalada Maligawa in Kandy to look at the tusker Thai Raja gifted by the Thai govt to the Sri Dalada Maligawa, he said that the Thai govt has not taken any diplomatic-level decisions to reclaim any elephant gifted to Sri Lanka. more..

Jul 6 (DM) The controversial Malwana mansion is a property of the State now and it was set on fire during the Aragalaya time without knowing that it is a State property, Justice Minister Wijeyadasa Rajapakshe said. He said that Cabinet approval was granted to take over the Malwana property by the Justice Ministry and the process is now underway. "When I learnt through the newspapers that no party has claimed ownership of the Malwana property, I submitted a Cabinet Paper more..

Jul 6 (AFP) Heart-wrenching images of revered elephants and cattle eating plastic in Sri Lanka have prompted politicians to toughen pollution laws, but sceptical conservationists warn past bans were repeatedly ignored. After an estimated 20 elephant deaths and countless other wild animals perishing due to singleuse plastics in the past decade, officials said a law banning many such items is expected to come into force more..

Jul 6 (FT) Cabinet of Ministers approved the renewal of an agreement between the Invest International Public Programs B.V. and ING Bank N.V. of the Netherlands worth Euro 45 million to pave the way for a healthier future for the people of the Northern Province. The “Strengthening the Provision of Health Services in the Northern Province” initiative was originally launched with the support of the Netherlands Govt through Invest International Public Programmes B.V., more..

Jul 6 (DM) An Indian national was stabbed to death by another Indian national inside an outlet at the One Galle Face shopping mall in Colombo last night. Police said at least 20 employees from India and Sri Lanka are working at the outlet which was opened last month. They said the Indian nationals are staying at an apartment in Slave Island and there has been a dispute among two Indian nationals. According to investigations, a 30-year-old Indian had stabbed a 28-year-old Indian more..

Jul 6 (PMD) Sri Lanka Banks’ Association has emphasized that by optimizing domestic debt, the hard-earned funds of the working people in the country will be safeguarded from potential losses. Russel Fonseka, CEO of Bank of Ceylon and a member of SL Banks’ Association, expressed the importance of Domestic Debt Optimization. He highlighted the risk of funds, including the EPF, being compromised if such optimization measures were not taken. more..

Jul 6 (DM) Claiming that he would no longer approve overseas travel for SLC officials, Sports Minister Roshan Ranasinghe said that he has requested SLC to spend more on developing school cricket. “SLC spends lakhs on the expenses of these travelling officials per tour, which is a waste. I have therefore asked them to channel this money towards the development of the sport in poorer schools around the island,” he said. “I will not give permission to send officials on overseas trip.” more..

Jul 6 (DM) A verbal battle broke out in Parliament over the announcement by the Speaker on the appointment of a Select Committee chaired by SLPP MP Sagara Kariyawasam to look into the insolvency of SL, with the Opposition claiming the chairmanship of the committee and the ruling party thinking otherwise. Leader of the Opposition Sajith Premadasa and Chief Opposition Whip Lakshman Kiriella more..

Jul 6 (TM) This year’s Kandy Esala Perahera festival will commence on August 17 with the traditional Kap planting ceremony at the four Maha Devalayas, announced Diyawadana Nilame of Sri Dalada Maligawa Pradeep Nilanga Dela. He further said that the Kap planting ceremony will be held at the four great temples of Natha, Vishnu, Kataragama and Pattini at the auspicious time of 6:12 am facing the northwest direction. After "Kap" planting in the four great Devales, five Devale peraheras more..

Jul 6 (TM) The Ministry of Agriculture said that measures will be taken to provide a sum of Rs. 20,000 per acre for farmers who are cultivating maize in the next Maha season, in order for the preparation of their cultivable land. The Ministry further mentioned that the funds will be provided as a non-refundable amount which is not required to be repaid, to the farmers growing maize in the Hambantota, Monaragala, Anuradhapura, Ampara, and Badulla Districts. more..

Jul 6 (AFP) Netherlands said it will hand back hundreds of colonial-era artifacts to Indonesia and SL, including a haul of treasure and a gem-encrusted bronze cannon. The decision to return some 478 objects followed recommendations by a govt-appointed commission last year looking into illegal Dutch colonial acquisitions now being displayed in museums in the Netherlands. "These recommendations are a milestone more..

Jul 6 (DM) Opposition Leader Sajith Premadasa today requested the govt to issue a gazette notification declaring Sri Lanka Leopard Day which falls on August 1 as a National Leopard Day. He said that August 1 was declared as SL Leopard Day as proposed by the Wildlife and Nature Protection Society (WNPS) in August 2021. Opposition Leader said SL has the opportunity to promote eco-tourism in the country at a time when the country was facing an acute economic crisis. more..

Jul 6 (AD) Central Bank of SL says inflation is expected to come down to a 7% level in July 2023. “The headline inflation is expected to decline further and stabilize around mid-single-digit level or the medium term, and in July, this month, we expect inflation to return to single-digit level, about 7% level”, Director of Economic Research at CBSL Dr. P.K.G. Harishchandra said. Speaking with regards to the country’s inflation as a whole, Dr. Harishchandra stated that while more..

Jul 7 (DM) Just a few days ago we read in the newspapers that the All Island Canteen Owners’ Association (AICOA) President had stated that no one should be given free meals and that those demanding free meals must be dealt with severely. According to the newspaper report a popular artiste had got into an argument at an eatery and attempted to leave the place without settling the bill. AICOA President was later quoted in newspapers sending a warning to all association members that more..

Jul 7 (GV) The irony is not lost on the Malaiyaga Thamilar community. A stamp was issued in commemoration of former minister and leader of the Ceylon Workers Congress, the late Arumugan Thondaman, but most of the Hill Country Tamils he represented did not have an address for their line rooms where a letter could be received. As the community marks 200 years since the British officially brought workers from South India as labour for its coffee plantations carved out of more..

Jul 7 (TM) Rajeev Abeysekara has loved wildlife and nature since he was a child, and wanted to show others the beauty and value of nature and wildlife from his perspective. This is what drew him to the field of photography. A magnificent click of a leopard in the wilderness of Sri Lanka recently won him the SL national award at the Sony World Photography Awards 2023. While Abeysekara received his award on 18 May, more..

Jul 7 (DM) It is unfortunate for the workers of SL that private parties, politicians and bureaucrats have spotted the huge potential for colluding together and profiting off the EPF, and concealing their acts by concealing the data. We know that women are regularly abused on the streets in SL. Would that then justify passing a law to give men explicit permission to abuse women? It seems to be that sort of argument that is now being made with regard to the EPF, by those who say that more..

Jul 7 (CT) SL has not yet reached her Rubicon. Nearly one and half years ago she was found on the edge of the abyss but thanks to the assistance extended by the IMF, she manged to avert a total collapse of her sociopolitical life. It’s undeniably true that the Aragalaya played an integral and indispensable part in the crisis. Some pundits, especially those who pontificate from atop their drawing room armchairs, are now relaxing. Their needs, petrol, diesel and cooking gas, more..

Jul 7 (TM) Since certain bottled water brands are unsuitable for drinking in accordance with the Health Ministry regulation and the Sri Lanka Standards Institution (SLSI) as they exceed the permitted levels for one or more of the prescribed parameters, the bottled water industry needs to be closely supervised by competent authorities. These findings and recommendations were made in a research article on more..

Jul 7 (Island) Parliamentary Select Committee (PSC) has been set up to probe how the country became bankrupt. SLPP General Secretary Sagara Kariyawasam, of all people, has been appointed its chairman! Opposition let out a howl of protests, in Parliament, against Kariyawasam’s appointment, claiming that his party was responsible for bankrupting the economy, and therefore the PSC would not act impartially under his chairmanship, but Speaker stood his ground, and his decision was final. more..

Jul 7 (TM) As we analyse global demographic trends, we see that the ageing of the world's population has accelerated in recent years. According to UN statistics, the global ageing population was 962 million in 2017 and the total number of elderly people is expected to double by 2050 and is expected to grow close to 2.1 billion. According to the statistics of the Asian Development Bank, the SL population is ageing more rapidly than most other developing countries. more..

Jul 7 (TM) It would not be an exaggeration to state that the domestic debt restructuring process, which the Govt labelled as a domestic debt optimisation process, has triggered a more concerning situation among the ordinary citizens than the economic crisis, which led to the domestic debt optimisation in the first place. It was easier for the people to understand the nature and consequences of the economic crisis, because there was a considerably open discourse about those. more..

Jul 7 (Island) Prez Wickremesinghe has recently stressed the importance of reforms to our ailing education system. In particular, he has mentioned the need to produce younger graduates. He also wanted to do away with GCE (O/L) and Grade Five Scholarship exam. However, there are simple and practical approaches one can embark on without major financial commitments. Some of these are as follows: 1. Reduce school commencement by one year so that Grade 1 starts when a child is more..

Jul 7 (PMD) Ministry of Foreign Affairs in collaboration with Presidential Secretariat and SL Tourism Promotion Bureau organized the Ella Odyssey, a familiarization tour of Nuwara Eliya and Ella for foreign heads of mission in Colombo, and nine heads of mission based in New Delhi who presented credentials to Prez Wickremesinghe. Ella Odyssey is part of SL’s commemoration of 75 years of independence more..

Jul 7 (PMD) State Minister of Defence Premitha Bandara Tennakoon said that strict laws will be implemented to curb illegal human and drug trafficking through the Indian Ocean. Minister also said that relief measures have been implemented for those who have been affected by the adverse weather and necessary amendments will be brought to prevent misuse of existing circulars in providing disaster relief. He expressed these views today (06) during a press conference themed more..