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Seylan Bank records PAT of Rs. 3.1 billion in 3Q 2018

Oct 30 (Island) The Bank closed the 9 months ending Sept 30 2018 with a post-tax profit of Rs. 3,138 million, a moderate growth of 4.5 % over the corresponding period last year in the backdrop of challenging market conditions. Bank increased its Net Interest Income and recorded a commendable growth of 14.4% to reach Rs. 13,013 Million in spite of the mounting pressure on the margins due to rising cost of funds. Net interest Margin contracted from 4.2% in 2017 to 4.1% in 3Q 2018 more..

Election Commission to go to SC in 3 weeks

Oct 30 (CT) Chairman of the Election Commission (EC), Mahinda Deshapriya whilst noting that the Parliament is accountable for the delay in holding the Provincial Councils (PCs) Polls, said that the EC would go to the Supreme Court within the next three weeks, seeking a ruling regarding the delay and the electoral system under which the said Elections are to be held. He noted that since the President has suspended more..

Mahason Balakaya leader granted bail

Oct 30 (Island) Chief of the Mahason Balakaya Amith Weerasinghe and six others held in remand prison in connection with their alleged involvement in violence in the Teldeniya area early March this year were allowed bail in cash and surety by the Kandy Central Provincial HC Judge Sarojini Kusala Weerawardana yesterday. Cash bail of Rs. 25,000 each with two sureties of Rs. 500,000 each was recorded by the HC Judge with a further condition that they report to Colombo TID every month. more..

Six Sri Lankan players picked for BPL

Oct 30 (CT) Six Sri Lankan cricketers have been picked to play in the sixth edition of the BPL T20. The players’ draft of the tournament which was held on Sunday, included 165 local and 365 foreign players across 17 countries. Lasith Malinga, who was back in the national team recently, was picked by Khulna Titans coached by former Sri Lanka captain Mahela Jayawardena. Left-arm seamer Isuru Udana and T20 specialist Seekkuge Prasanna were picked by Rajshahi Kings. more..

'Hardly any takers for offers made by MR'

Oct 30 (Island) Ranil Wickremesinghe says that there were hardly any takers from among UNP MPs, for the ‘offers’ made by newly appointed PM Mahinda Rajapaksa, to lure them into his camp. Addressing the Foreign Correspondents Association at Temple Trees, yesterday, Wickremesinghe flanked by MPs Rajitha Senaratne, Champika Ranawaka, Mangala Samaraweera and Sagala Ratnayake said that offers more..

Sri Lankan developers say property market survived bubble fears

Oct 30 (EN) A prophesied collapse in Sri Lanka’s property market has not happened with industry fundamentals still strong, the head of the island’s condominium developers organisation said. “It takes financial boldness to invest in real estate, more than in trading and services,” said Pradeep Moraes, chairman of the Condominium Developers Asssociaation of Sri Lanka. The number of equipment, material and ancillary manufacturers and professional and support services more..

Dialog partners to launch per day motor insurance starting from Rs.125

Oct 30 (Island), Sri Lanka’s first online platform for comparing insurance policies, has launched Per Day Motor Insurance in partnership with Dialog Axiata PLC and licensed insurance providers Fairfirst Insurance Ltd, HNB General Insurance Ltd. and People’s Insurance PLC, to facilitate an affordable and innovative insurance scheme that offers per day full insurance covers for all Sri Lankans. Starting from as low as Rs. 125 (including tax) per day and based on more..

Champika Ranawaka

Ramagnna Nikaya hails action taken by the President

Oct 30 (Island) Ven. Keppetiyagoda Siriwimala Nayake Thera of Rajopawanaramaya Peradeniya and members of the SL Ramagnna Nikaya hailed the action taken by President Maithripala Sirisena at a time of political crisis in the country. In a statement issued on Sunday Venerable Keppetiyagoda Siriwimala Nayake Thera has stated that the Yahapalana administration led by former PM Ranil Wickremesinghe was responsible for the political chaos in the country during past 3.5 years. more..

Duminda examining his conscience

Oct 30 (FT) A notable absentee during yesterday’s Cabinet swearing-in, UPFA MP Duminda Dissanayake said that he is unable to be a part of the new Cabinet with a clear conscience. “I could not participate in the ceremony with a clear conscience,” he said. Speculation was rife among political circles about possible defection by Dissanayake from UPFA to the UNP camp. Dissanayake, who held the Disaster Management Portfolio under the Coalition Govt Cabinet before PM’s sacking more..

Provincial Elections will be held soon: Prez

Oct 30 (PSL) President Maithripala Sirisena said the provincial council elections will be held soon to strengthen the democracy of the country. President said this addressing the Vap Magul Day held at the Sandagirigama Welyaya in Thissamaharamaya today (29). President Sirisena further said that officers of 6 PCs are at a helpless state due to lack of a precise political leadership or guidance. more..

We have 116 MPs in our pocket: Soysa

Oct 30 (DN) We joined the govt with the support of 116 MPs in our pocket, Ratnapura District MP Ranjith Soysa said. “Our duty is to support the two leaders who are in charge of governing the country,” he said. “Although some people argued that the newly appointed PM should be ousted, we can muster the support of 161 MPs,” Soysa said. He was addressing Lake House (ANCL) employees at a ceremony organised by them to extend greetings to new PM Rajapaksa held at Lake House. more..

No need for Prez to consult Speaker: GL

Oct 30 (DM) The joint opposition said there was no need for President Sirisena to consult the Speaker when proroguing Parliament. SLPP Chairman G.L. Peiris said the power to prorogue Parliament belongs to the President under the Constitution. “He is under no obligation to consult the Speaker,” he said and added that Parliament was prorogued to give adequate time for the new govt of PM Mahinda Rajapaksa to prepare a vote of account to run the govt for up to March 31, 2019. more..

Karu summons party leaders meeting as crisis drags

Oct 30 (FT) Speaker Karu Jayasuriya has summoned a meeting of party representatives at 11 AM today, after 129 MPs placed their signatures on letters urging him to reconvene Parliament, despite the presidential proclamation suspending sittings. Aides to the Speaker said he could not summon a party leaders’ meet, since that must be held in Parliament, so party representatives will meet outside legislature. more..

Prorogation of Parliament could lead to corruption: TISL

Oct 30 (FT) Transparency International Sri Lanka (TISL) warned that the prorogation of Parliament following recent political developments could lead to spread of corruption. Against the backdrop of multiple Constitutional arguments that have been made for and against President Maithripala Sirisena’s decision to appoint Mahinda Rajapaksa MP to the office of PM, TISL reminded the public and other stakeholders that the Supreme Court of Sri Lanka is the highest body exercising more..

India cannot be blamed for Sri Lanka crisis, says Ponnar Radhakrishnan

Oct 30 (DC) Union Minister Pon Radhakrishnan has claimed that the Centre had nothing to do with Mahinda Rajapaksa becoming Prime Minister of Sri Lanka. Taking strong exception to the opposition parties implying Centre’s role, the Minister said it was not fair to accuse the Centre for each and everything that happened. “What is the basis of such accusations? Sri Lanka is a separate nation and there has been problems in that country from the beginning,” he said on Monday. more..

Sri Lankan Politics: Crooks Vs Crooks

Looming political crisis pushing country into uncertainty

Oct 30 (DM) The uncertainty currently prevailing in the political climate in the country is not only killing but also dangerous. Both the UNP led by Ranil Wickremesinghe and the UPFA led by President Sirisena and former President Rajapaksa are laying claim to the govt, after Rajapaksa was sworn in by the President on Friday in a dramatic and surprising move. This situation has led to the supporters of the two parties to attempt to hold on to or capture power in various govt institutions, more..

Constitutional Coup: How to save Sri Lankan democracy ?

Oct 30 (DM) This is not the first time that the powers of the executive presidency that were deemed to be a source of stability were abused to serve the whims and fancies of the holder, effectively plunging the country into the depth of a political crisis. J.R. Jayawardene’s arrogance sowed seeds of a nation- wide political turmoil that overshadowed much of his second term, and Chandrika Kumaratunga’s palace coup in 2003 ingloriously ended her cohabitation govt with the UNP. more..

The unfolding political crisis

Oct 30 (DM) This is not the first time that the powers of the executive presidency that were deemed to be a source of stability were abused to serve the whims and fancies of the holder, effectively plunging the country into the depth of a political crisis. J.R. Jayawardene’s arrogance sowed seeds of a nation- wide political turmoil that overshadowed much of his second term, and Chandrika Kumaratunga’s palace coup in more..

How a bold idea built a billion dollar business

Oct 30 (DM) Technology has started to lead the way and at times one may be confused as to whether it is the technology that uses people or vice versa. Identifying the growing inefficiency of legacy IT systems and the emergence of .com prompted an individual to do something different. This was when Kris Canekeratne initiated Virtusa and was instrumental in changing the IT paradigm by focusing on more..

Wage demands over tea leaves industry stewing

Oct 30 (ST) The beleaguered plantation industry is facing another serious challenge over deadlocked talks between plantation sector trade unions and Regional Plantation Companies over a collective agreement on worker wages. The latest crisis comes at one of the most testing times for the sector, with the tea industry denied access to the lucrative Japanese market, labour shortages, skyrocketing production costs, more..

Ven Arahanth Mahinda’s ashes found in Rajagala

Oct 30 (CT) It has been revealed that the ashes found in the Rajagala Forest reserve were in fact those of Arahanth Mahinda. Vice Chancellor Samapath Amarathunga and Archeologists from the Uni of Sri J'pura, who are in charge of the Rajagala Archeological reserve in Ampara have confirmed that the ashes of Arahanth Mahinda’s were enshrined in Rajagala. Rajagala is a sacred spot in Rajagalatenna village in Uhana DS Division more..

Countrywide fuel distribution will be restored by Wednesday: CPPBOA

Oct 30 (DM) The Ceylon Petroleum Private Bowser Owners' Association (CPPBOA) yesterday said the countrywide the fuel supply would come to normal by Wednesday (31) evening. The countrywide fuel distribution had come to standstill following the killing of a 34-year old man and injuring two others when one of the bodyguards of former Petroleum minister Ranatunga opened fire at a group of protesters at CPC premises when more..

AG’s stand on PM’s post?

Oct 30 (NR) Office of the Speaker of House says the Attorney General has not issued an interpretation pertaining to the post of the PM to the Speaker of House. Speaker’s Office has issued the statement amidst various media reports that claimed the Attorney General has informed his stance on the post of the PM to Speaker of House Karu Jayasuriya, who is unwilling to publicise the Attorney General’s stance. more..

Video: Most important change has already happened: Wijedasa

Oct 30 (AD) If appointing Mahinda Rajapaksa as the PM is illegal, then appointment of Ranil Wickremesinghe as the PM back in 2015 is also illegal, said Minister of Education Wijedasa Rajapaksa. He mentioned this responding to queries of media personnel when he visited the Gangaramaya Buddhist Temple in Hunupitiya. The most import change in the country at the present has already occurred, he stated. more..

Video: President briefs foreign envoys on current political situation

Oct 30 (AD) President Maithripala Sirisena has held a meeting with foreign Ambassadors and High Commissioners in Sri Lanka, to apprise them regarding the prevailing political situation of the country. During this meeting at the Presidential Secretariat yesterday, President explained to the diplomats regarding the conflicting grounds that existed within the previous govt, which led to appointment of a new PM, the PMD said. more..

Reconvene Parliament: Speaker makes kind request to Prez

Oct 30 (DM) Speaker Karu Jayasuriya had made a kind request to President Sirisena to reconvene Parliament to prevent the country from falling into a crisis. He had written to the President following requests made by the UNP, ITAK, JVP and SLMC to safeguard the privileges and rights of the MPs and establish a majority in Parliament. Speaker in his letter to the President states that he could not believe that more..

UNP protest against MR’s premiership commences

Oct 30 (NR) The Voice of Justice protest organised by the UNP has commenced in Colpetty. A massive crowd is in attendance along Galle road in Colpetty. The protest, organised by the UNP MPs, is focused on the unconstitutionality of the appointment of a new PM by President Maithripala Sirisena. UNP MP Ajith Mannapperuma urged the public to rally around the UNP to ensure democratic values are protected in the country. more..

The dead ropes

Oct 30 (FT) In politics, as in life, there are no permanent friends – or enemies. All is in flux. When circumstances or situations change, people go with the flow. Rare is the man (or woman) in public life who stays rooted in one dear spot. Although we gravely wish some of them would take up permanent residence six feet under – courtesy RAW, the Grim Reaper, No Confidence Motions, et al. Stuff happens every day. Some days – like 11 Sept or 26 Oct – are worse than others. more..

Black Friday

Oct 30 (CT) Sunday’s killing at the CPC premises in Colombo is ominous. That was the first time after more than 45˝ months since 8 Jan, 2015, upon the advent of the Yahapalana Govt, now defunct, after Friday’s turn of political events, that a death of a political nature has been reported. The Yahapalana Govt became defunct after President Sirisena sacked his PM, Ranil Wickremesinghe, and the Cabinet and appointed former Prez Rajapaksa to replace Wickremesinghe, on Friday. more..

Tissa Attanayake

Mattegoda state bank robbery: Rs. 58.6 mn cash, jewellery recovered

Oct 30 (DM) Four suspects had been arrested by the Mount Lavinia Police this morning along with Rs. 9.3 million in cash and Rs. 49.3 million worth jewellery, which was stolen from a state bank in Mattegoda last Friday, Police Spokesman SP Ruwan Gunasekera said. He said three suspects were arrested by a special team of the Mount Lavinia Division Police over the robbery while another was arrested for aiding and abetting the suspects. more..

Case against Gotabhaya over Avant Garde allegations postponed

Oct 30 (AD) The case filed by the Bribery Commission against Gotabhaya Rajapaksa and seven others has been postponed until Feb 26th, as ordered by the Colombo Magistrate’s Court. When the case called before Colombo Additional Magistrate Priyantha Liyanage, attorney representing the Bribery Commission informed the Magistrate’s Court that an interim order has been issued by the Court of Appeal to suspend the hearing until 5th Dec. more..

Video: Betraying the people’s trust and mandate is despicable: Ranil

Oct 30 (AD) UNP leader Ranil Wickremesinghe says that betraying the people’s trust and their mandate is a despicable act and that they will not allow such actions. He made these comments while delivering a speech during the protest rally Yukthiye Jana Handa (Voice of Justice) organized at the Kollupitya Junction this afternoon (30). He stated that they had united to take the country forwards while safeguarding the people’s rights for more..

Bus driver, conductor bailed out on Rs.200,000 sureties

Oct 30 (DN) Galle Chief Magistrate Harshana Kekeunawela released a bus driver and a conductor on a surety of Rs.200,000 each with a warning, when they were produced before him for allegedly threatening the Galle Additional Magistrate and her security police officer. She was travelling in her official vehicle when the incident occurred. Magistrate further ordered to temporarily suspend the driving licence of the bus driver. The suspects were identified as a driver and a conductor more..

Opposition Leader Post was not discussed with MR: Sampanthan

Oct 30 (DM) The post of Opposition Leader was not discussed during the meeting held between TNA Leader R. Sampanthan and PM Mahinda Rajapaksa, the TNA said. In a statement, it said Mr. Sampanthan met Mr. Rajapaksa on the request of the latter at his residence in Colombo 7. “Mr. Sampanthan did not meet Mr. Rajapaksha in any other capacity. No matter was discussed at this meeting pertaining to the post of the Leader of the Opposition. Any statement to that effect more..

Now EU urges Prez to reconvene Parliament

Oct 30 (DM) A day after the US called on President Maithripala Sirisena to immediately reconvene Parliament, the European Union (EU) said the President should allow the immediate reconvening of Parliament. This was expressed by Maja Kocijančič, Spokesperson of the EU Foreign Affairs and Security Policy. In a statement on Monday, she said the sudden deterioration of the situation in SL over the weekend puts more..

SL man steals taxi; causes accident in Japan

Oct 30 (JT) Police in Fukuoka said Tuesday that a 43-year-old Sri Lankan man has been arrested on suspicion of stealing a taxi and reckless driving resulting in injury by crashing into a car as he fled from police. According to police, the incident occurred at 2:30 a.m. on Sunday, Fuji TV reported. Police said the suspect, who was drunk when apprehended, got into the taxi and drove away after the driver had left the vehicle. A police car pursued him along a national highway. more..

FR petition filed against proroguing of parliament

Oct 30 (AD) A fundamental rights petition has been filed seeking the withdrawal of the Gazette proroguing the Parliament. Attorney-at law Nagananda Kodituwakku has filed the petition before the Supreme Court. The petition states that the Gazette issued by the President on the 27th Oct, proroguing the parliament till 16th Nov without good reason has created instability in the country. Accordingly, the petitioner requests the court to declare that fundamental rights have been more..