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Money printing up Rs 8.2B

Oct 30 (CT) Central Bank's money printing increased by a massive Rs 8,246.88 million (5.76%) to Rs 151,526.23 million, on Friday over Thursday, to meet the Govt funding needs in the absence of inflows, thereby causing demand side inflationary pressure on the economy. As upward inflationary expectations hit the economy with the new VAT hike coming into effect from tomorrow, Colombo stock market, besieged by the advent of a high interest rate regime as a result, continued to record more..

'Sri Lanka’s 82% of lands belong to State'

Oct 30 (DN) Legal Aid Commission of Sri Lanka with the financial assistance of USAID Civil Society Initiatives for the Rule of Law Project carried out a project on legal issues related to land in selected areas of the country. Designed and structured by the Programme Support Unit of the Legal Aid Commission with the guidance of USAID CSI.ROL Project, objectives of this initiative was to identify and document land issues that concern an identified group of people more..

Whitewashing Crime: UNP dismisses JVP, JO allegations on final COPE report

Oct 30 (FT) UNP dismissed allegations by JVP and JO that its MPs attempted to dilute a COPE report about controversial Central Bank treasury bond auctions and claimed the report could have been tougher if the committee had incorporated the party’s recommendations to criminally prosecute the company linked to the dubious transaction.  Deputy Minister Dr. Harsha De Silva said that despite the criticism that more..

High scope for infrastructure projects in Maldives for SL companies

Oct 30 (DN) The Maldivian government has expressed interest in assisting many Sri Lankan businesses to venture into infrastructure projects and invest in various other sectors in the Maldives. Speaking at a bi-lateral trade seminar organised by the National Chamber of Commerce of Sri Lanka, Maldivian High Commissioner to Sri Lanka Zahiya Zareer said it is encouraging to see many Sri Lankan businesses venturing into new areas and new markets in the Maldives. more..

Weed out irregularities in resettlement process: Hakeem

Oct 30 (FT) SLMC Leader Rauff Hakeem called on Rehabilitation Minister to ensure that malpractices were ironed out in the process of beneficiary selection. Minister of City Planning and Water Supply, in a meeting with Minister of Prisons Reforms, Rehabilitation, Resettlement and Hindu Religious Affairs D.M. Swaminathan highlighted that due to both political and bureaucratic interference, irregularities in beneficiary selection has resulted in discrimination and marginalisation.  more..

Dreams for People; Real Money for Crooks: Labour will move to Hambantota: PM

Oct 30 (DM) There might be fundamental changes to economy, when the South is industrialised, PM Ranil Wickremesinghe said. He made this remark at the AGM of the Sri Lanka Tea Factory Owners Association over the weekend. “When the Mattala Airport development plans get going, some may let off tea and move to other crops. Therefore there may be fundamental changes due to the industrialising of the South. more..

Host of absentees at vote of VAT Bill in House

Oct 30 (DN) 8 Cabinet Ministers, 4 State Ministers and 8 Deputy Ministers were absent during the vote on VAT (Amendment) Bill in Parliament. A total of 65 members were absent during the second reading vote of the VAT Bill. Out of them, 6 ministers and 3 deputy ministers represent the UNP, while 2 ministers, 4 state ministers and 5 deputy minsters represent SLFP. Ministers Mano Ganeshan, Harin Fernando, Rishad Bathiudeen, Mangala Samaraweera, Rajitha Senaratne, more..

Jaffna Uni students’ deaths: NPC report due on 3 Nov

Oct 30 (CT) The National Police Commission says that the report on the death of two Jaffna University students will be submitted by Thursday. Commission sources told Ceylon Today that a preliminary probe into the incident is being conducted by an officer of the commission. The commission has visited Jaffna and taken witness accounts as well as several other statements. The National Police Commission appointed the officer, to probe into the incident in Jaffna, last Monday. more..

President to meet parents?

Oct 30 (CT) In the backdrop of President Maithripala Sirisena's visit to Jaffna today and on his directive, Minister of Rehabilitation, Resettlement Rehabilitation and Hindu Affairs D.M. Swaminathan will be holding a special meeting with the representatives of the Jaffna University Students Unions and the Deans of the Faculties to discuss the security of the students and explore the possibilities of reopening all faculties of Jaffna University. more..

Paba says no more politics

Oct 30 (Island) Former MP Upeksha Swarnamali, better known by her screen name Paba, said that she had been invited by both main parties to attend political rallies, but she had rejected all of them as she was no longer interested in politics. "I am disgusted with the prevailing situation and have only one wish that is to be with my family and engage in artistic pursuits," she said. Swarnamali was elected as an MP in the 2010 General Elections held on 8 April 2010 from the UNP ticket. more..

Wiggy did not obtain Governor’s okay

Oct 30 (CT) Chief Minister of Northern Province, C.V. Wigneswaran had not obtained permission from the Governor of the Province, Reginald Cooray, to leave the country. Moreover, an acting CM has not been appointed during Wigneswaran's absence. Wigneswaran had left the country on 14 Oct and returned to the island late last week. During the NPC meeting on 15 Oct, Chairman of the Council C.V.K. Sivagnanam appointed Provincial Education Minister T. Kurukularajah as the Chief Minister. more..

World Bank shows way forward for Sri Lanka

Oct 30 (FT) World Bank’s latest Sri Lanka Development Update finds that monetary and fiscal policy corrections and the start of a new IMF program have contributed to improving short-term stability of Sri Lanka’s economy. Update, the half-yearly report on the Sri Lankan economy and its prospects, emphasises the importance of adhering to the revenue-led fiscal consolidation path to create fiscal space for more..

SL: Pint-sized global polluter of the ocean

Oct 31 (DM) There can be few more beautiful sights than watching the sun rise at Batticaloa or Trincomalee in the east, or the scenes at sunset on the western coasts of our island nation. Unfortunately, beauty as the saying goes is only skin deep and these beautiful scenes cover a more deadly reality. Sri Lanka is one of the world’s top polluters of the ocean. Ocean pollution, also known as marine pollution, is the spreading of harmful substances such as oil, plastic, more..

Utopia is around the corner for Politicos

Oct 31 (DM) SL has been a politically independent country for nearly seven decades. We cannot be happy, due to numerous reasons, that our destiny w improve. We shouldn’t be contented with conjecture. Progress will depend not on memories of past grandeur or on political verve, arrogance, rhetoric and noise.  Progress unquestionably depends on honest, concerted and dedicated effort to get to grips with causes underlying the present malaise to assess available resources and capabilities more..

Tit-for-tat killings over drug turf rivalry

Oct 31 (ST) A six-year-old rivalry over narcotics distribution between two gangs, erupted again in Mattakkuliya last Sunday, with the murder of four more persons, police investigations have revealed. Nuwan Sanjeewa, 30, alias Chuti Ukku, one of the victims in Sunday’s shooting was believed to be one of those responsible for leading a gang attack on a police post in the area in 2010, and removing a firearm. more..

Jaffna on edge after shooting incident

Oct 31 (SL) Jaffna is on edge following the shooting incident in which two youth were killed, allegedly by police action. The incident has seen the spotlight being placed on a sword gang named Aava Group  which was involved in an attack on two policemen just days after the shooting incident. Police fired at the two youth in Kankesanthurai when they were speeding away on a motorbike, allegedly ignoring orders to stop more..

'President’s speech will have multiple ramifications'

Oct 31 (DM) President Mathripala Sirisena’s comment during a speech at SLFI on October 12 and the subsequent events which included the resignation of Bribery Commission’s Director General Dilruskhi Dias Wickremasinghe created a quiet a stir in the political and civil circles. The most shocked sections were the members of civil rights groups who worked tirelessly even with a risk to their lives to bring President Sirisena to power. more..

Chinese delegation to visit Sri Lanka for research on CKD

Oct 31 (CG) A Chinese delegation is to visit Sri Lanka to conduct research on the origin of the Chronic Kidney Disease (CKD) in Sri Lanka. A high level delegation with relevant expertise from China is due to visit Sri Lanka between 15th to 20th of December. The uncertainty over the origin of CKD is a major public health issue in SL affecting 12 districts with a large number of cases being reported from North Central Province. more..

'Govt stealing from public funds while accusing previous govt'

Oct 31 (Island) Former President Mahinda Rajapaksa addressing the public after attending an opening ceremony at the Sri Sumana Saman Devalaya in Deraniyagala on Friday. The incumbent govt is swindling public funds while calling the former govt a set of thieves, former President Mahinda Rajapaksa has said. "The govt is stealing from the public purse while calling others thieves," Rajapaksa said, addressing the public more..

Army awaiting govt nod to eliminate Aava threat

Oct 31 (Island) Army could easily accomplish the task of tracking down the so-called Aava Group and eliminating the security threat it posed if the govt gives the nod, Army Spokesman said. "If we come out of the camps in the North then there would be an outcry against it. Similarly, when we confine ourselves within the camps some in the South criticise us. There is a need for political leadership to decide what we should do. more..

Sri Lanka VAT hike credit positive: Moody's

Oct 31 (EN) Sri Lanka's imposition of a value-added tax will be credit positive, and keep a programme with the IMF on track, Moody's Investor Service, rating agency, said. "This is credit positive because a higher VAT rate will facilitate fiscal consolidation by strengthening Sri Lanka’s low revenue-to-GDP ratio, which is a key credit constraint," the rating agency said. Sri Lanka's attempt to impose the tax through a minister's more..

New body to monitor Public Service

Oct 31 (DM) Govt was seeking to introduce fresh legislation to establish a separate Authority to streamline Public Service through measures, such as formulation of standards, introduction of code of best practices and procedures, it is learnt. A bill has been worked out and presented to Cabinet for discussion by a committee appointed for the purpose by PM. It was headed by former Justice Ministry Secretary Suhada Gamlath. more..

COPE report on bond scam: Validity of UNP footnotes challenged by experts

Oct 31 (Island) Footnotes the UNP MPs got incorporated into the COPE report on the Treasury bond scam, tabled in Parliament last Friday, were based on false facts and figures. The footnotes 1, 2 and 3 had no relevance to the Report’s arguments, sources said. The COPE report presented to Parliament by its Chairman Sunil Handunnetti had been endorsed by 16 out of 26 members while nine UNP members endorsed it with footnotes, more..

Sri Lanka should probe Perpetual Treasuries, EPF, State Banks: Eran

Oct 31 (EN) Sri Lanka should probe Perpetual Treasuries, the Central Bank, the Employees Provident Find and state banks to break a ring of corruption, Deputy Minister Eran Wickramaratne said. "We have to clean up the system," he said. His comments came in the wake of a parliamentary panel finding ex-CB Governor Arjuna Mahendran responsible for irregular auctions where the firm connected to his son-in-law Arjuna more..

Sampanthan’s Hope

Oct 31 (CT) A large gathering of distinguished guests participated at the Deepavali celebration held at Temple Trees on Friday where the guests were treated with traditional Tamil cultural programmes and refreshments. Leader of the Opposition R. Sampanthan accompanied by President Maithripala Sirisena, CJ K. Sripavan, PM Ranil Wickremesinghe and Minister D.M. Swaminathan enjoyed the dance and musical recitals performed at Temple Trees premises to celebrate Deepavali. more..

Some random thoughts on economic development

Oct 31 (CT) There is a need to be optimistic about Sri Lanka’s future. This is also called positive thinking or PMA (positive mental attitude) in psychology. Positive thinking is necessary not only in politics but also or more so in economics. After all it is the economic progress that would enable people to be optimistic about life, their children’s future and the future of the country. Before thinking of global interdependence, people need to have a good grasp of mutual interdependence within the country. more..

බැඳුම්කර වංචාව පිළිබඳ කෝප් විමර්ශන වාර්තාවේ ඉදිරිය

Shares fall to 3-mth low ahead of monetary policy

Oct 31 (Reuters) Shares ended Monday weaker at a three-month low in thin trade ahead of a monetary policy announcement by the central bank, as the PM's plan for improving the investment climate failed to cheer the market. Central bank is expected to keep its key interest rates steady later on Monday, a few days ahead of the national budget and govt's five-year policy. Sri Lanka will introduce concessions on investments and a lower tax regime in its budget to boost faltering investment, more..

Pera medical student drowns in Black Pool reservoir

Oct 31 (Island) Badulla Police recovered the body of Peradeniya undergraduate drowned in the Black Pool natural reservoir at Spring Valley Estate Badulla on Friday. The victim was identified as Jayan Dharamsiri (21) of Medagama in Warakapola. He was a student of the Peradeniya Medical Faculty and was vacationing with one of his friends when the accident occurred. His friend Shanika Wanigaratne, giving evidence, told Police that he and Jayan had come to Badulla to stay with more..

Inflation in Colombo picks up to 4.2% in Oct

Oct 31 (EN) Inflation in Colombo picked up to 4.2% in Oct 2016 from a year ago after falling in the three previous months, according to data from Department of Census and Statistics. Colombo Consumer Price Index (CCPI) rose 0.6% in October on a month-on-month basis, compared with a 0.3% fall in September, a statement said. Consumer prices in Colombo had hit a 32-month high of 6% in June and had been falling since then. more..

PHU demands RW’s resignation over CB Bond scam

Oct 31 (DM) PHU demanded the resignation of PM Ranil Wickremesinghe over the Central Bank (CB) Bond sale scam. It said if the Premier didn’t resign, the party would be compelled to bring in a no-confidence motion against him. “The bond issue took place in the Treasury, when it came under the purview of PM. Former CB Governor Arjuna Mahendran, who is in hot water today, had said that the controversial deal was made following the directions of the Subject Minister. more..

500 Rover Scouts Moot in Mannar

Oct 31 (Island) 32nd National Rover Scout Moot will be held the La Salle Kids Campus Grounds on Thalaimannar Road in Mannar from Nov 3 to 6 with the participation of around 500 Rover Scouts from all over the country, a press release issued by the SL Scouts Association said yesterday. The release signed by Srilath de Silva, Assistant Chief Commissioner (Rovers), Moot Organising Commissioner said: The last Rover Scout Moot, 31st was held in Matara and the Torch was more..

'Set up separate Court to hear bond scam'

Oct 31 (DM) Minister Champika Ranawaka, in a reference to the CB bond scam, today urged the Govt to set up a separate Court specialized in hearing such cases. He told a news conference that those responsible for the bond scam should be brought to book and the Govt had no moral right to sweep it under the carpet. “The Govt should introduce a separate court system to investigate such scams if not a separate more..

Korea Eximbank checks feasibility to create ICT hub in Sri Lanka

Oct 31 (LBO) South Korea’s export and import bank is planning to conduct a comprehensive feasibility study to establish an ICT Hub for secondary education in SL through a joint consulting firm. Sri Lanka has identified that the availability of highly skilled labor force is vital to the economic growth as well as to the human resource development to meet the local and foreign labor market demands. Korean embassy said the KSP-ADB Joint Consulting team composed of ICT experts and architects more..

Minister Hashim claims UNP will never protect thieves

Oct 31 (Island) UNP would never protect thieves or fraudsters irrespective of their status and connections, Minister Kabir Hashim said. "If anyone has committed fraud or thievery he or she should be punished. His or her status, position or power would not save him or her. Such people cannot hide behind the party. That is the standpoint of the UNP." Minister Hashim was addressing a ceremony at State Plantations Corporation to distribute compensation for the politically victimized. more..

In the wash-up, Sri Lankan asylum loser wins

Oct 31 (TA) Crab-trapper of Jaffna is a happy man; he has a sturdy boat with a new Suzuki motor. Each morning he rises before dawn to motor out to a vast lagoon in his new auto rickshaw to fish for prawns and crabs — partly funded by the $5000 given to him by Australian taxpayers. In August 2012, when Marcus Pireesan fled SL for ­Australia in search of a better life, Jaffna, the northern Tamil capital and his home town, more..

Sajin Vass seeks to travel abroad

Oct 31 (CT) Sajin Vass Gunawardena, former MP and one time close confidante of former President Rajapaksa, appears to be turning to the gods for salvation, with a request to the Court to lift the travel ban imposed on him as he wishes to travel to India for religious purposes. Gunawardena today requested Colombo Chief Magistrate to lift the travel ban issued on him so he could travel to India from Nov 11 to 16, 2016. However, Magistrate informed Gunawardena, who is currently out on bail, more..

President pays last respects to the late king of Thailand

Oct 31 (GDI) President Maithripala Sirisena flew to Thailand yesterday to pay his last respects to Thailand’s late King Bhumibol Adulyadej. The President placed flowers to pay his last respects to the late King and signed the Book of Condolences. King Bhumibol, who was the world’s longest reigning monarch, died on 13 Oct at the age of 88 and the Govt of Thailand declared a 100-day mourning period in this regard. more..

500 public Wi-Fi spots before end 2016

Oct 31 (LBO) Digital Infrastructure Ministry is expected to complete opening of 500 free public Wi-fi spots in the island before the end of this year. Ministry recently reactivated 405 hotspots that underwent an upgrade. Ministry is to open 95 new public Wi-fi facilities before the end of this year. Under the new system, anyone in a free Wi-fi area can access the facility once entering PIN number which they will receive after providing user’s more..

JO complains to BC against PM, Mahendran

Oct 31 (DM) A group of MPs of the joint opposition today lodged a complaint with the Bribery Commission against PM Ranil Wickremesinghe and former CB governor Arjuna Mahendran over the Central Bank Bond Sale issue. In their complaint, the MPs requested the Bribery Commission to investigate the controversial scam and the Perpetual Treasuries, the company which is allegedly involved in the scam. MPs Keheliya Rambukwella, Bandula Gunawardana, Mahindananda Aluthgamage, more..