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Unemployment on the rise

Sri Lanka's unemployment level had increased last year to 4.4 per cent as against four per cent the previous year, a report says. The Central Bank (CB), in its 2013 report, disclosed this fact and attributed it to the entry of new job seekers into the...

SOME COUNTRIES BLIND TO LTTE FRONTS

Defence Secretary Gotabaya Rajapaksa said though there was no more terrorism in Sri Lanka, the terrorists’ global network continued to function largely unhindered with some nations seeming to to turn a blind eye to these front organisations. “The...

SL to prohibit online purchase of aphrodisiacs

The National Drugs, Cosmetics and Devices Authority Director Dr. Hemantha Benaragama warned Lankans not to purchase medicines, especially drugs that were purported

Pardon without public confession not in order

The presidential pardon for those found guilty by the High Court of having assaulted and robbed the popular singing duo Rukantha Gunatilleke and Chandralekha Perera was improper, because the procedures pertaining to such a pardon had not been followed,...

4MACAWSESCAPED FROM PRESIDENT’S HOUSE

Three macaws that had escaped from an aviary at President's House in Fort were found last evening in the Kotahena area. Public assistance is sought to trace a fourth macaw.

LankanTamilissue ignoredinTNin electioncampaign

The Sri Lankan Tamils’ issue appears to have taken a backseat in Tamil Nadu, in the campaign for the April 24 Lok Sabha elections, much to the disappointment of active pro-Tamil groups in the state.

Police get court order for BBS video

The news directors attached to two private television channels were yesterday ordered by Court to hand over unedited video footage to the police so as to help t hem investigate allegations that the Bodu Bala Sena (BBS) had disrupted a media conference...

New gratuity scheme

The Government Pensions Department will bear the full cost of the 6% to 7% interest payable when retiring public servants obtain the newly introduced ‘Commuted Gratuity Payment System’ from the three state banks, a senior official said.

UNP on fact-finding mission to mega projects

A group of United National Party (UNP) MPs will visit the Rajapaksa International Airport in Mattala and the Hambantota Port on a factfinding mission, Party sources said yesterday.

Highwaysandoutercircular expressways

Increasing road size is not a solution as land needs to be acquired from residents and those who use their land and property for a living. A sustainable transport system needs to be introduced with reasonable fares,” Mrs Ralapanawe said. The ongoing...

RoadandTransport developmentmasterplan

The comprehensive study of the Urban Transport Master Plan formulated by the Ministry of Transport with support from the Japan International Cooperation Agency (JICA) to address congestion and transport issues on our roads would be completed by the end...

UNDERTHEMETROCOLOMBO URBAN DEVELOPMENT PROJECT (MCUDP) SEVERAL PROJECTS ARE ONGOINGTO IMPROVETHE LANDSCAPE.

• The restoration of the Beira Lake and rehabilitation of the McCallum lock gates • Construction of nature parks in parliamentary wetlands • Construction of an Information Technology (IT) park in the former Tripoli Market • Improvement of sewage...

News

CANADA IS PLAYING POLITICS IN C’WEALTH, SAYS LANKA

Sri Lanka yesterday charged that the Canadian Government had sought to use its voluntary funds for the Commonwealth Organisation as a political tool based on the dictates of electoral compulsions, thereby holding the membership of the wider...

Hakeem pays courtesy call on Malwatte Mahanayake Thera

Justice Minister Rauff Hakeem visited the Malwathu Maha Viharaya last afternoon and paid a courtesy call on the chief prelate of the Malwatte Chapter, the Most Ven Thibbotuwawe Sri Sumangala Thera and had a discussion lasting about 45 minutes. The...

877 drunk drivers arrested during festive season

Police have arrested 877 drunk drivers during the National New Year festive season following countrywide raids. The raids and checks which started on April 10 will continue till April 21, police headquarters said. Most of the drunk drivers were...

Effective entrepreneurship development at grassroots level a must

Methodologies for effective entrepreneurship development at grassroots level were essential for the Northern Province which was emerging as a Province that would lead the economic development of the country, Minister of Traditional Industries and Small...

MIDWIFERY TRAINING ONLY FOR 2009 BATCH

As a temporary measure to resolve the highly controversial issue of midwifery training for nurses, the Health Ministry yesterday decided to give midwifery training only to the 2009B batch of trainee nurses. On the instructions of the Health Minister...

Suspect nabbed for stealing mobile phone

A man who had befriended a family from India on the Yal Devi train from Colombo to Kilinochchi and tried to jump off the train after grabbing the Rs. 70,000 worth mobile phone belonging to them, was nabbed by the Railway Security Officers. Officials...

BimSaviyaProgrammea bane,Mahanayake thera threatens to take to streets

Mahanayake of the Asgiri Chapter Most Venerable Udugama Sri Buddharakkitha Thera told Minister of Justice Rauff Hakeem that he along with the other Mahanayake’s would take to the streets to protest against the alienation of land under the ‘Bim Saviya’...

Two police officers, businessman remanded for alleged fraud

Two police officers of the Narahenpitia Police Garage and a businessman who aided and abetted the police officers to commit a fraud to the tune of over Rs. 100,000 by tendering bogus purchase vouchers to the police garage were remanded till April 23 by...

Delimitation of seats for local govt. polls ends

Arrangements had been made to delimit the constituencies according to proportional representation (mixed) system and electoral constituencies for the forth coming local government polls, said the secretary of the local government and the ministry of...

Closingdatefor2013GCE (O/L) re-corrections is Apr.25

The acceptance of applications for the re-correction of last year’s GCE (O/L) answer scripts will not be extended, Commissioner General of Examination W.M.N.J. Pushpakumara said. Therefore, he reques-

Hand grenade explosion damages house

A house in the Kirama area of Katuwana was damaged when a hand grenade was thrown at the house by a group of unidentified men. However, nobody was injured in the incident. It was believed the incident took place over a long standing personal dispute....

Van collides with bicycle killing two youth

The accident occurred when a van collided with a bicycle. The injured succumbed to their injuries after being admitted to the Horana Hospital Two youth were killed following an accident at the Poruwadanda Junction, Horana on the Panadura – Ratnapura...

Trishaw collides with lorry, killing boy

An eight-year-old boy succumbed to his injuries when the trishaw he was traveling in with his family members collided with a lorry in the Piyaddugoda area of Matara. The injured were admitted to the Matara Hospital but the victim had already succumbed...

Bodhi Pooja for SL

Friends of S.L. Gunasekera are holding a Bodhi Pooja on Friday (18) at 5.45 pm at the Asokaramaya, Timbirigasyaya to invoke blessings as he is recovering after major surgery. The organisers said they would like to see as many friends of Mr. Gunasekera...

BODYOFVANOWNER FOUNDINMONERAGALA

The body of a van owner was found near the bus depot on the MoneragalaHulandawa South Road, Moneragala police said. The victim identified as 47-year-old W.R. Ranjith Weerasinghe was a father of three children and a resident of Kumarapura, Dodamwatte,...

Many prefer travelling on Southern Expressway

The buses operating on the Matara – Colombo Expressway attracted more commuters this festive season and the usually long queues for Colombo-bound buses from Matara were not seen as in previous years. The passengers are taking advantage of the...

Two elephants anointed with oil

In the wake of the National New Year two elephants were anointed with oil at the “Ali Eth Sevana” in the Dehiwala Zoological Gardens at the auspicious time of 11.16 a.m. yesterday morning under the guidance of the Zoological Gardens Director Anoma...

One killed, another injured in wild elephant attack

One man was killed and another seriously injured when a wild elephant attacked them while they were riding a motorbike on Tuesday night at Anukkangala in Lunugamwehera. The injured man was admitted to the Thanamalwila Base Hospital. The victims were...

4 macaws...

President Mahinda Rajapaksa keeps the macaws as pets. The ones-that were caught (two red and yellow macaws and one blue and yellow macaw) were returned to the aviary. The public are requested to contact Mr. Mayura Perera on 0777535377 if the remaining...

Good medicine to revive patient-friendly health service

In one of the healthiest moves for the New Year, Health Minister Maithripala Sirisena is this month expected to introduce in Parliament tough new legislation for the implementation of a National Medicinal Drugs Policy based on Professor Senaka Bibile’s...

Lessons from India

Where on Earth do you find 1.2 billion voting in a Democracy? India the mother of civilizations, with thousands of years of history and culture comes alive this month to elect members to its legislative assembly which is the most powerful in the world....

India’s clear message toTNA,Diaspora and Pillay

clear to the world that it does not condone the actions of TNA and Diaspora that keep maneuvering the forces inimical to the interests of Sri Lanka to unduly impose an unwarranted international inquiry; as such a process does not offer any potential to...

Europe

But the leaders both "emphasised the importance" of planned four-way talks on Ukraine on Thursday between top diplomats of Russia, the European Union, the United States and Ukraine. Ukraine pushed tanks towards a flashpoint eastern city on Tuesday to...

KIEV SENDS IN ARMY,PUTIN WARNSOFCIVILWAR

Izyum, Ukraine, April 16, 2014 (AFP) - Russian leader Vladimir Putin warned that Ukraine is on the verge of civil war, the Kremlin said on Wednesday, after the Kiev government sent in troops against pro-Moscow separatists in the east of the...

Sexual violence against Egypt women 'goes unpunished'

Cairo April 16, 2014 (AFP) Sexual violence against women has been rife since the 2011 uprising in Egypt, where hundreds of female protesters have been the target of attack with apparent impunity, rights groups said Wednesday. "Successive Egyptian...

Biz delegation from Dalian China expresses interest in developing projects in Sri Lanka

The Board of Investment of Sri Lanka (BoI) hosted a 14 strong delegation from the port city of Dalian in Northern China, headed by Liu Cheng Xi. The delegation was comprised of entrepreneurs from a wide range of sectors looking at developing trade or...

A shift towards renewables and a greener economy for a sustainable Sri Lanka

Climate Action Network South Asia (CANSA) welcomes the launch of the Intergovernmental Panel on Climate Change’s (IPCC) latest report in Berlin which shows that avoiding catastrophic climate change is still possible, but only with rapid and sustained...

NY-based PE firm charts US $ 50mn Sri Lanka plan

New York-based emerging market private equity firm Zephyr Management is raising a US $ 50-million fund focused on Sri Lanka, as investor interest increases in the island nation that is returning to business after a three-decade long civil war. The...

Jefferies to distribute JB Securities equity research on companies in Sri Lanka

Jefferies recently announced that it is entering into a cooperation agreement with JB Securities (Pvt.) Limited to distribute JB Securities equity research on companies in Sri Lanka on a co-branded basis to Jefferies’ global institutional client...

SLT to pay Rs.673mn to Just In Time in out of court settlement

Sri Lanka Telecom PLC (SLT) and Just In Time Holdings (Pvt.) Ltd have entered into an out of court settlement with the former agreeing to pay Rs.673.3 million to the latter and withdraw litigation. SLT had filed two court cases in the Commercial High...

Sri Lanka-Benelux Business Council launches website

Sri Lanka-Benelux Business Council launched its website, www.benelux.lk recently, during the council`s members networking evening. The website was launched by Louis W.M. Piet, Ambassador of Kingdom of the Netherlands in Sri Lanka in the presence of...

Opinion

Practical, not conventional wisdom has driven Sri Lanka’s rebuilding and reconciliation

About five years ago, Sri Lanka faced three daunting economic challenges. To deal with these challenges, the Sri Lankan authorities implemented certain pragmatic strategies that challenged conventional wisdom. At the time of defeating terrorism in May...

Illusory economy vs. real economy of Sri Lanka

The Gover nor of the Central Bank of Sri Lanka (CBSL) has penned a compelling article entitled ‘Practical, not conventional, wisdom has driven Sri Lanka’s rebuilding and reconciliation’, which was posted on the official website of the CBSL on Thursday,...

BUSINESS NEWS

Massive Cat excavators brought to accelerate port projects

UTE achieved a significant milestone recently by securing an order for four 390D L Cat hydraulic excavators, which will be used to strengthen the ongoing Hambantota and Colombo South Harbour projects. The machines were handed over recently at a...

BBDO takes top honours at inaugural APAC Effies

BBDO emerged fantastically victorious at the inaugural APAC Effies, picking up the gong for Agency Network of the Year, with seven of its offices taking home prestigious/significant gongs including Colenso BBDO/Proximity New Zealand being named Agency...

Marina opens stall at Sambodhi Viharaya premises

Marina that has introduced over 50 hygienically prepared food items including Marina coconut oil recently opened a stall selling organic agroproducts such as vegetables, fruits, grains and spices at the Sri Sambodhi Viharayapremises,Colombo. This...

First-rate training at Cannes Lions Young Marketers Academy

The Cannes Lions Yo u n g Marketers Academy is set to return to the International Festival of Creativity f or a fifth year with new sponsor, leading brand and communications agency Dentsu Aegis Network, supporting the dedicated training programme. A...

Garment Exporters Chamber hails JAAF’s employee welfare programme

SME’s apparel sector arm has welcomed the JAAF initiative to reward and recognize all apparel sector employees, also including the non BoI factories scattered in all parts of the country as SMEs. At a recent meeting of the Executive Committee of Sri...

Eternel Gold & Jewelry Salon opened at Abans

Eternel Gold & Jewelry Salon was officially declared open at Abans Elite Kollupitiya by Chairperson of Abans, Aban Pestonjee and Hiran Karunaratne, Managing Director of Gold Corporation Lanka (Pvt.) Ltd. Eternel is a product of Gold Corporation Lanka...

BoC introduces Ran Kekulu gift vouchers this Avurudu

Sinhala and Tamil New Year is a celebration involving many customs and traditions in this country and among these customs and traditions is the custom of giving gifts. Giving BoC Ran Kekulu gift vouchers is one of the best modes of giving a gift to a...

INTERNATIONAL NEWS

Mobius’ emerging market dominance weakens as fund suffers record outflows

Templeton Asian Growth Fund record US $1.9 bn outflows in March quarter Outflows continue into fourth straight quarter even as fund turns profit Rival funds from First State, Aberdeen close gap with Mobius fund REUTERS: Mark Mobius’ Templeton Asian...

Infosys says staff exodus a worry after 4Q profits beat estimates

Staff left India’s second largest IT services exporter Infosys Ltd at an unprecedented pace in the last quarter, worrying its management and raising investors’ concerns about its ability to win lucrative contracts even as it posted a...

Tesco seeks Asia pick-up after fresh profit setback

Supermarket giant Tesco announced a second drop in annual profits in a row yesterday, leaving Britain’s biggest retailer hoping that recent expansion into India and China can offset weakness in Europe. The world’s third-biggest supermarket group said...

Coca-cola’s 15-year fizzy drinks sales high ends

BBC: The amount of fizzy drinks Coca-Cola sells across the world has fallen for the first time in 15 years. The company said volumes of carbonated drinks sold fell by 1 percent in the first quarter of the year. The fall was particularly marked in much...

Consolidation...

The Central Bank has also approved in principle, certain possible consolidation activities amongst a few banks and finance companies. At the same time, National Development Bank PLC and DFCC Bank have entered into a Memorandum of Understanding in order...

ComBank partners...

company would have a total vertically integrated poultry production operation. Up to 50 percent of the project could be considered for financing under this credit line and beneficiaries can obtain facilities for a longer repayment period and enjoy an...

Bairaha Farms...

Out of the Rs.1.65 billion investment, Rs.650 million will be for working capital and Bairaha Farms PLC intends to take up around a 45 percent share of the equity in venture that may take 15-20 months to commence commercial operations. Bairaha Farms...

High govt. debt...

“The rating is supported by relatively strong growth, a comparatively high level of basic human development (as indicated by the UN Human Development Index) and a solid payment record.” Fitch sees ‘weakness’ in Sri Lanka’s public and external finances...

Contd. from Page 1

ahead of the Sinhala-Tamil New Year. Dealers, however, said the rupee could come under downward pressure again in the event of imports picking up in a lower interest rate regime. period of overheating or a significant deterioration in public finances...

Rupee edges...

Central Bank Governor Ajith Nivard Cabraal said yesterday at a Reuters’ Global Market Forum that a sharp depreciation or appreciation was unlikely in the rupee “although a gentle trend could perhaps take place.” The Central Bank’s moral suasion has...