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President orders AG and other officials: Act now on Bond Commission report

Jan 18 (CT) President Maithripala Sirisena yesterday directed the Attorney General, Jayantha Jayasuriya, Governor of CB, Dr. Indrajit Coomaraswamy and DG Bribery Commission Sarath Jayamanne and other officials to immediately act on the recommendations of PCoI into the alleged Bonds scam. President's meeting with the top law enforcement officials came as 26 copies of the report were sent to the Speaker more..

Bond commission asks Rs688mn be clawed back from Mahendran

Jan 18 (EN) A PCoI has recommended that 688 million rupees be clawed back from ex-CB Governor Arjuna Mahendran after he interfered in an auction in February 2015, which benefited his son-in-law's company. The commission said Mahendran direct that bids to the value of 10 billion be accepted for the improper, wrongful and mala fide so that Perpetual Treasuries, the primary dealer connected to his son-in-law Arjuna Aloysius was able to get bonds at high yields (low prices). more..

Bond scam: Speaker’s attention drawn to take action against COPE members

Jan 18 (DM) Speaker’s attention has been drawn to take necessary action against the COPE members who had conversations with Perpetual Treasuries Limited (PTL) owner Arjun Aloysius during COPE proceedings into CB Bond scam, Presidential Media Unit (PMD) said. A statement issued by PMD said it was revealed that certain members of the COPE had conversations with PTL owner Arjun Aloysius during the COPE investigations into CB Bond scam and investigations connected to the PTL. more..

PCoI report: Action recommended against Mahendran, Aloysius, Ravi, et al

Jan 18 (Island) The PCoI which probed Treasury bond scams has determined that the then CB Governor Arjuna Mahendran provided inside information to Perpetual Treasuries owned by his son-in-law Arjuna Aloysius and acted in collusion with that company. The commission has recommended the Attorney General and other authorities consider whether PTL has used, gained and benefitted from inside information at more..

CEB unions strike today?

Jan 18 (DN) The CEB trade unions are to commence an island-wide strike from today, claiming that they were assaulted at the CEB headquarters by the Police. The STF and the Police rescued several high-ranking CEB officials, including its Chairman, who were detained by the CEB Trade Union members at the CEB head office, yesterday. “Following the rescue operation, there was a clash between the Police and the trade union activists,” sources said. more..

Over 40,000 postal vote applications rejected

Jan 18 (DN) 560,000 applications for postal votes have been received from public servants for the LG polls on Feb 10 but 41,000 of them have been rejected as they were erroneously filed and some were received after the due date. About 560,120 applications have been accepted. The highest number of applications for postal votes have been received from Kurunegala District (67,411). From Kandy District, 48,353, from A'pura District, 45,261, from Gampaha District, 41,049 applications more..

Govt urged to take up Mahendran extradition with Singapore

Jan 18 (Island) Former Minister Prof. G.L Peiris yesterday urged the govt to take up with Singapore the possibility of extraditing former Central Bank Governor Arjuna Mahendran, named in a presidential commission inquiry report on treasury bond scams. The govt should take up the issue with Singapore soon, Prof. Peiris said, pointing out that Singaporean PM Lee Hsien Loong was scheduled to arrive in Colombo on more..

Bond commission raises red flag over EPF stock market scams

Jan 18 (EN) A presidential commission of inquiry into Sri Lanka's largest securities fraud involving rigged bond auctions in 2015 and 2016 had drawn a red flag over alleged frauds in the stock purchases by central bank managed Employees Provident Fund from 2010. The commission said transactions of the EPF retirement fund on the stock exchange from 2010 onwards should be examined, and consideration should also be given to probe the losses of the CB itself around the period. more..

Three member UNP Committee to study Bond report

Jan 18 (DN) UNP Working Committee had decided to appoint a 3 member committee to study PCoI report on CB Treasury Bond issuance, UNP General Secretary Kabir Hashim said. He said this 3-member committee would study the report thoroughly and it is found that any member of the UNP is involved in the issue, they would be punished, irrespective of their position. He said he had yet not gone through the report by last evening and said he was not in a position to comment on its content. more..

Video: Bond Commission Report: Party leaders to decide on Jan. 22

Jan 18 (DM) A party leaders meeting will be convened on Jan 22 to decide what action needs to be taken on the Bond Commission and the PRECIFAC reports handed over to the Parliament Secretary General by the Presidential Secretariat, Speaker Karu Jayasuriya said. He told a news conference that Parliament had received 26 copies of the Bond Commission report and copies of the 34 reports of the PRECIFAC. more..

Royal College sets Guinness World Record

Jan 18 (DN) Records Management Team of the Guinness World Records recently announced that the attempt by Royal College to break the record for the most number of water rockets launched simultaneously was successful and that the school is now a Guinness World Records title holder. This attempt was made by Astronomical Society of Royal College in celebration of their 50th anniversary and the World Science Day on Nov 10 participated by 2000 students from grade 6 to 10. more..

Over 25,000 visitors expected in EDEX Expo

Jan 18 (DN) EDEX Expo-2018 will be declared open by PM Ranil Wickramasinghe at BMICH tomorrow commencing at 9 am. Education Minister Akila Viraj Kariyawasam, Principal Royal College B.A. Abeyratne and EDEX Chairman Mahinda Galagedara will also attend the opening ceremony of the 32nd annual exhibition and job fair, conducted by Royal College Union (RCU). Over 25,000 visitors including students from public and private international schools and universities are more..

Video: Sirisena to run again if Constitution remains unchanged: SLFP

Jan 18 (DM) President Maithripala Sirisena will definitely contest at the next presidential election in the event the executive presidency is not abolished and the constitution is not changed, State Minister Lakshman Yapa Abeywardena said. He that Prez Sirisena would definitely be their presidential candidate and when asked whether it was ethical for him to contest again, state minister said yes and pointed out that the President more..

DC refuses to restrain CSE from proceeding with Statutory Inquiry against Bartleet

Jan 18 (FT) District Court of Colombo on 8 Jan pronounced an Order refusing to issue the Interim Injunction sought by the Plaintiff Bartleet Religare Securities, seeking to restrain the Colombo Stock Exchange (CSE) and its Arbitration and Disciplinary Committee from proceeding with an inquiry against the Plaintiff into several charges set out in the charge sheet issued on Bartleet by the CSE. After hearing submissions of Counsel for the Defendants, the District Court also dissolved more..

SL’s total exports to reach US $ 15 bn: Lanka Rubber Global Consortium launched

Jan 18 (DN) SL Export Development Board (EDB) in collaboration with Asian Development Bank (ADB) and rubber sector stakeholders officially launched a Special Purpose Vehicle known as Lanka Rubber Global Consortium Pvt Ltd (LRGC). The motive of establishing SME clusters by way of formation of a (SPV) is to create local brands more competitive in the global arena as this would help to improve the country to drive towards a highly competitive export oriented economy. more..

PM initiates Johann’s Everest summit climb campaign

Jan 18 (DN) Let us back Johann Peries to be the second Sri Lankan to scale the summit of the Mount Everest which he attempts to make in April 2018, PM Ranil Wickremesinghe said. PM said that Peries made a wise decision to return during his first attempt due to the technical fault and he is here today to make the second attempt while Jayanthi Kuru-Uthumpala made it to the top in April 2016. He added that Johann is firm with more..

Jaffna International Trade Fair on Jan. 26

Jan 18 (DN) The Jaffna International Trade Fair, the multi-faceted gateway to the North bringing together traders and business to a wide range of opportunities, is to take the Northern peninsula by storm from January 26- 28. The ninth edition of the annual event, aptly named the Gateway to the North will be the meeting hotspot for traders and business, both local and international. The one stop shop for businesses in the rapidly developing Northern peninsula, the trade fair will host more..

SriLankan says ...

Jan 18 (Island) SriLankan Airlines has sent us the following statement in response to our news report headlined Prez orders probes into Mihin Air, SriLankan on The Island. Our report said recommendations of the Weliamuna report had not yet been implemented. Full text of the SriLankan reply: "This response is to put things into perspective with regard to the J.C. Weliamuna Report which has been referred to in the Newspapers and other interested parties, time and time again. more..

Include Weliamuna Report in probe: Kabir to President

Jan 18 (CT) Minister Kabir Hashim has urged President Maithripala Sirisena to also include the findings of the Weliamuna Report in the Presidential Commission Report on the proposed probe of the national carrier, SriLankan Airlines, and the Regional Carrier, Mihin Airways. He said that he had told the President to include those contents in the report, as well as some of the crimes committed by the previous management. more..

Banking, building materials and apparel likely to outperform other sectors

Jan 18 (Island) ‘We believe the key sectors that are likely to outperform the market and expected to provide high returns are Banking Sector, Building Materials Sector and Apparel Sector while the energy sector also may turnaround depending on the implementation of the pricing formulas by the govt which is also a condition of IMF' First Capital Research said. "Current tight monetary policy has slowed down the economy significantly reducing earnings growth for most companies. more..

Jaffna Chamber wants its own candidate

Jan 18 (ST) Unheard of in Colombo, but in Jaffna, chambers of commerce pick a candidate to support at local elections. Jaffna Chamber of Commerce has decided, not to extend its support to the TNA in future as their request to nominate the former chamber president R. Jeyasegaram as the Jaffna Mayoral candidate had been rejected by the TNA. Mr. Jeyasegaram is currently serving as a Northern Provincial Councillor. TNA has instead nominated one of the Northern Provincial Councilors more..

Rajitha quells fears of coalition rift

Jan 18 (FT) Cabinet spokesperson Rajitha Senaratne was in full damage control mode yesterday as he denied reports of President Sirisena storming out of the Cabinet in protest, following an emotional outburst directed at UNP members. Minister, speaking at the weekly cabinet briefing, claimed the President walked out of the meeting following the statement to answer the call of nature, not in protest, but he admitted that more..

Sports Law; hopper eaters and Nelsons

Jan 18 (ST) As far as it is universally accepted, strong sports bodies in the world opt to live free and stay out of the clutches of government controls. For instance, the International Athletic Federation, Fédération Internationale de Football Association or, simply FIFA, International Olympic Committee (IOC) and the much closer to us, the International Cricket Council or, ICC, have categorically spelled out that none of them condones political interference. A 2012 Reuter report quoting sources more..

PM's man as AG: Will AG’s Dept shield PM?

Jan 18 (Island) President Maithripala Sirisena seems to be happy that unlike other Presidential Commissions which took several years to complete their probes and ultimately produced reports which were not worth the paper they were written on, the Bond Commission completed its task within a very short period of 10 months and produced a report, copies of which have been submitted to Parliament. President has forwarded one copy to the Central Bank, another to the Bribery Commission, more..

Striving towards a drug free Sri Lanka

Jan 18 (DN) Drugs have emerged as a major social problem recently and has crossed the border of caste, class, creed, sex and nation. Drug abuse affects individuals, their families and society as a whole and they are often linked to organised crime and illegal weapons trade and the underworld. Sri Lanka however, has taken a strong stance on the drug issue and in a warning to the world’s drug operators that it will not tolerate or encourage more..

Editorial: Prez’s ire & yahapalana logan

Jan 18 (Island) The yahapalana administration is like a logan which rocks but doesn’t fall. Bitter infighting within the govt ranks came to a head on Tuesday with President Sirisena launching into a tirade against the UNP, at a Cabinet meeting. He was so incensed that he stormed out. UNP drew the President’s ire because some of its backbenchers had inveighed against him for ordering a probe into the CB bond scams. One of them went to the extent of calling him an ingrate. more..

Veteran athlete Yoga felicitated for 50 years of service

Jan 18 (DN) Veteran athletic coach Yogananda Wijesundera was felicitated for his 50 years of untiring service for Sri Lankan athletics during a ceremony participated by his contemporary coaches, athletes and sports association officials at the Olympic House yesterday. The event was organized as a part of Save the Sport organization’s annual felicitation program for veterans who have contributed immensely for the betterment of Lankan sports. more..

Susil Premajayantha

Central Bank Bond issue: Opportunity to reveal true culprits lost

Jan 18 (CT) Maithripala Sirisena's statement about the CB Bond Issue was utterly disappointing for those who had been deeply concerned about the scandal and its impact on the economy. SLFP supporters especially felt let down, but for a different reason. They waited to utilize this opportunity to permanently banish Ranil Wickremesinghe into political exile. Had he done so, the UNP would not only have fallen at the upcoming LG elections, but would remain prostrate for a very long time. more..

Challenges in Sri Lanka’s accession to Mine Ban Treaty

Jan 18 (DN) On Dec 13, 2017, SL acceded to the Convention on the Prohibition of the Use, Stockpiling, Production and Transfer of Anti-Personnel Mines and Their Destruction (also referred to as the Mine Ban Treaty or MBT) becoming its 163rd State Party. Heralding the revival of SL’s role as a champion of humanitarian disarmament, this step was taken by the Govt of SL under the leadership of President Sirisena, towards which The SL Campaign to Ban Landmines more..

'If given power, we’ll develop country in 2 yrs'

Jan 18 (CT) All Ceylon General Ports Employees Union secretary Chandrasiri Mahagamage says that the proposal to build the Hambantota Harbour was made in 1906 when Leonard Woolf was the Assistant Govt Agent there. "The Magampura Port at Hambantota has been leased to a Chinese company. Now there are talks about leasing oil tanks in Trinco Harbour to India. We don't know what is in store for future of ports in SL" more..

Politicos’ image plummets to lowest ebb

Jan 18 (CT) Public image of the politician plummeted to the lowest level in SL history of Parliamentary democracy, last week, causing a serious setback to the efforts to increase the proportion of educated, cultured, decent men in politics and women participation. The roguish and wayward behaviour of some MPs, including a few seasoned politicians hitherto known as decent men, shocked the nation. There were horrid scenes, fisticuffs and premeditated physical assaults more..

Erratic Presidents & Dirty tongues

Jan 18 (CT) Donald John Trump, the global bully and the President of the mighty Super Power, United States of America (USA) has got his brains checked and an all-clear certificate has been issued. Our charming gentle giant Nishantha Muthuhettigama, MP from the Galle District in the Southern Sinhala bastion was probably the first politician who had his brains examined for sanity in Sri Lanka. Now it looks like, many more in Sri Lanka will have to undergo this important test. more..

Imposing Civic Liability for the Bond Scam

Jan 18 (CT) The manner in which the PCoI managed the Bond scam deserves not simply a round of applause, but truly a standing ovation. Over the political history that has prevailed, this will be among the very few times that a Special Commission of Inquiry has prevailed and yielded fruit, at least to an extent. For this, President Sirisena must be commended for not tampering with the investigations and his willingness to more..

Priests, medicine men, professional politicians and the State: Agony within

Jan 18 (DN) Media headlines in recent months in Sri Lanka have concentrated heavily on the political role of Buddhist monks, agitations of government medical officers against the establishment of a private medical college and the increasing failure of the State to address many pressing social issues. These three matters are by no means unconnected. In fact, all three are products of a process of social and political change that unfolded over the last several decades. more..

Mr. President; Leave us lasting legacy – Defeat the deep state

Jan 18 (CT) Trust this finds you well amidst a busy campaign schedule. Supreme Court has now defined the duration of your tenure. There were critics who were attempting to make an issue on a matter that you had the legitimate right to refer. Unfortunately, the outcome did not receive any applause in the context of Good Governance from those who would have otherwise capitalized to discredit both the Supreme Court and you (the executive) in the event decision was 2021. more..