News

The Sri Lanka High Commission in New Delhi organized a Roadshow followed by a business interactive session for the members of the BRICS Chamber of Commerce & Industry under the theme “SRI LANKA PARTNERING WITH INDIA FOR PROSPERITY”, at the High Commission premises on 25 April 2018. The main focus of the Roadshow was to promote the Sri Lanka Investment and Business Conclave 2018 which is to be held from 19 to 21 June 2018, at the Cinnamon Grand Hotel in Colombo.  
 
At the business interactive session on 25 April, High Commissioner Chitranganee Wagiswara welcomed the members of the BRICS Chamber of Commerce & Industry and highlighted the recent economic developments in the country and outlined the initiatives of the Sri Lanka government to create an economy, firmly based on foreign and domestic private investment.


Sri Lanka's High Commissioner to India Chitranganee Wagiswara speaking at the event. 

She emphasized on the New Trade Policy, which was approved by the Cabinet in July 2017, and made reference to the progressive steps taken by the government to facilitate, protect and promote the trade and liberal investment climate in Sri Lanka, by enacting the Inland Revenue Act, the Foreign Exchange Act and moving forward on the Anti-Dumping Bill.
 
While referring to the strategic location of the island as a gateway to the Indian sub-continent, the High Commissioner stated that through trading agreements, Sri Lanka could integrate deeper with the regional and global economy, particularly through cross-regional global value chains. She encouraged the Indian industry members to take advantage of these untapped trade and investment opportunities in the island.
 
It was  pointed out that, against the backdrop of the long standing trade and economic relations between Sri Lanka and India, the direct engagement between the business partners of the two countries offers a significant opportunity to facilitate the long-term business collaboration. The High Commissioner invited a delegation from the BRICS Chamber of Commerce & Industry to participate in the Sri Lanka Investment and Business Conclave to be held from 19-21 June 2018 in Colombo and to engage directly with future business or investment partners to explore opportunities in Sri Lanka.

Speaking on behalf of the BRICS Chamber of Commerce & Industry, Secretary General Dr B.B.L. Madhukar reiterated the importance of exploring business potential in Sri Lanka due to its unparalleled strategic location underpinned with conducive business climate and the fast developing infrastructure. He invited the Chamber members to explore the vast business potential under the Indo-Sri Lanka Free Trade Agreement.   

Minister Commercial of the High Commission made a presentation on investment potential in key target sectors, market access tools and factor cost. In addition, she elaborated on the incentives offered by granting  reduced tax rates (for specific sectors) and enhanced capital allowances based on capital investments made by the investors under the Inland Revenue Act No. 24 of 2017.

Over 50 participants representing the industry and media attended the business interactive session. Corporate leaders from prominent companies such as Gazprombank, Impresario Entertainment & Hospitality (Pvt) Ltd and Fine Jewellery (Pvt.) Ltd. were among the participants.

IP Rangajeewa of the Police Narcotics Bureau and Commissioner General of Prisons Emil Ranjan who was arrested and remanded in connection to the Welikada massacre are said to be housed in the prison hospital without instructions from the Courts or Medical recommendation. 

Reports claim that despite not suffering from any ailment they are being allowed to stay in the prison hospital according to the orders of the SUprintend of the prison. 

According to sources top officials of the prison are currently giving preferential treatment to the duo.

Although fuel prices have shown large fluctuations in global markets in recent times, domestic retail prices have not been adjusted since 2015.
The latest report from the Central Bank reveals, by end 2017 the accumulated losses of the Ceylon Petroleum Corporation (CPC) amounted to Rs. 217.3 billion.

The Central Bank’s annual report reveals that the Brend Crude Oil price on a barrel in 2017 had increased by 21.6% in turn, the CPC which spent USD 46.30 to import a barrel of crude oil in 2016 and had to spend USD 57.79 for the same in 2017, which is an increase of 24.8%.

Accordingly, the total cost per litre of 92 Octane Petrol was Rs. 126.41, however, the sale revenue per litre of the same was only Rs. 113. The subsidy per litre was Rs. 13.41 and the total annual subsidy is calculated to be Rs. 16.234 billion.

Similarly, the total annual subsidy from 95 Octane Petrol was Rs. 2.366 billion, while the total annual subsidy from Diesel was Rs. 7.961 billion. Kerosene recieves an annual subsidy of Rs. 5.454 billion, and total loss from all products amounts to Rs. 32.015 billion.

Speaking on ‘Face The Nation’ programme on TV1, Senior Deputy Governor of the Central Bank, Dr. Nandalal Weerasinghe, said delaying an automatic pricing formula for fuel will make the debt management of loss-making Ceylon Petroleum Corporation difficult in the wake of rising global oil prices.

(Newsfirst)

Oil prices inched higher on Monday after Israeli Prime Minister Benjamin Netanyahu claimed that Israel had proof that Iran lied about its nuclear weapons program.

The Brent Crude benchmark fell to $72.91 early on Monday, but rallied to as high as $75.34 in later-day trading after Netanyahu cited thousands of documents that Israel had obtained which showed Iran had lied repeatedly and “brazenly.”

In a succinct phrase that’s more indicative of U.S. President Donald Trump, Netanyahu said in a televised address “I’m here to tell you one thing: Iran lied. Big time.”

Specifically, Israel is claiming that Iran lied when it said it did not have a “comprehensive program to design, build, and test nuclear weapons.” Netanyahu went on to say in the address that Tehran’s Project Amad was designed to produce five warheads, each with a 10 kiloton TNT yield—warheads that could be placed onto a missile.

Netanyahu called on President Trump to “do the right thing”—a comment that is particularly poignant given the May 12 deadline for issuing yet another sanctions waiver to Iran.

The approaching May 12 deadline and the very real possibility that President Trump will not grant Iran another waiver has kept oil prices supported in recent weeks, and today’s accusations regarding Tehran’s nuclear inclinations sent prices even higher as analysts estimate that Iranian sanctions could add between $2 and $10 per barrel to oil prices this year, according to a Bloomberg poll.

Netanyahu’s prodding of President Trump may prove to be unnecessary, as President Trump warned in January when he waived the sanctions that it was the last such waiver.

Should the Iranian nuclear deal fall apart, it could remove anywhere from 200,000 bpd to 1 million bpd from the market.

Arjun Mahendran is said to have lodged an appeal with the INTERPOL claiming that the SL government’s attempts to arrest him in connection to the bond scam is politically motivated according to a report by the ‘Divaina’ paper.

He is said to have stated attempts to arrest him are completely political in his appeal to the organization which issued a red notice against him on the request of the Sri Lankan government. 
 
INTERPOL investigation!

Meanwhile ‘Lanka News Tube’ claims that the INTERPOL has commenced investigations in to the appeal made by Mahendran. 

According to the website Mahendran has requested that the red notice against him should be withdrawn. 

INTERPOL has the sole discretion to withdraw a red notice issued by them.

The newly designed official newsletter of the Office for National Unity and Reconciliation (ONUR) has been launched. Named as “Samagiya” (Unity), the newsletter has focused on the programmes and activities conducted by ONUR in order to enhance the national unity and reconciliation in Sri Lanka. It is a quarterly newsletter published in Sinhala, Tamil and English.

Achieving national unity and reconciliation was a key feature of the January 2015 Presidential campaign. To give effect to this commitment, the Government of Sri Lanka established the Office for National Unity and Reconciliation (ONUR). The resolution was moved by the Prime Minister, approved by the Cabinet, established under President and chaired by Former President Chandrika Bandaranaike Kumaratunga.
 
The latest issue of newsletter can be viewed at www.onur.gov.lk   

Several new cabinet Ministers are set to be announced on Thursday sources claim adding that Assistant Leader of the United National Party (UNP) Ravi Karunanayake and President of the Ceylon Workers Congress (CWC) Arumugam Thondaman will also be sworn in as cabinet ministers. 

When asked yesterday about not receiving a cabinet portfolio, MP Karunanayake said he will not express his views as yet and will do so after Thursday. 

Under the new cabinet reshuffle, th cabinet positions have been reduced from 47 to 42 yesterday.

Thondaman invited!

Arumugam Thondaman in the meanwhile claims he was invited the by government and the President to accept a cabinet portfolio thereby joining the government. 

He made these statements at a after meeting held in Dikoya where he spoke to the media thereafter. 

The Minister had claimed he will be visiting Colombo soon and will take a decision in this regard soon.

The Chamarajendra Zoological Gardens welcomed a male and a female green anaconda from the Sri Lanka National Zoo on Sunday under the animal exchange programme after a gap of of six years.

Divulging details about the reptiles reaching the zoo, C Ravishankar, director of the Mysuru Zoo, said, "The reptiles aged about four years were flown in from Sri Lanka to Bengaluru on the night of April 28 and reached their enclosure at the Mysuru Zoo in the early hours of April 29. They have been housed at the quarantine enclosure at the zoo."

Affirming that the health condition of the reptiles is stable, he said, "The length of the reptiles is about 6 to 8 feet and they weigh about 15 kilograms. Their condition is stable. They were transported under constant supervision from the zoo veterinarians and animal keepers."

"Five green anacondas were last received from the same zoo in 2011 and after an interim of six years, for the second time, we will be receiving six anacondas from the Sri Lankan zoo after obtaining approval from the Zoo Authority of India. Under the exchange programme, the Mysuru Zoo will be sending four black bucks and four nilgais to the Sri Lankan zoo," said the director. 
                                                    
 Indian Black Buck                                       

Nilgais

Opening a new chapter in the Sri Lankan automotive industry, a Tokyo based high-tech research and development startup is planning Sri Lanka’s first ever large scale Electric Vehicle (EV) manufacturing facility. 

The startup from Tokyo is also setting up an international standard EV charging system known as “micro-grid” stations across the country, as part of their hi-tech transfer to Sri Lanka.  A top Japanese investment team consisting of key executives of Tokyo’s Future Science Research Inc (FSRI), along with high ranking former Japanese officials is visiting Sri Lanka for the project’s initial groundwork. 

The Japanese delegation met with Minister of Industry and Commerce Rishard Baithiudeen and stated that the proposed EV manufacturing operation will take off with the production of Sri Lanka’s first ever smart, “EV tuk-tuks.”


Chairman of Tokyo based Future Science Research Inc (FSRI) Akihito Matsumura (centre) hands over an FSRI souvenir to Minister of Industry and Commerce Rishad Bathiudeen (left) on 01 May in Colombo.

Chairman of Tokyo based Future Science Research Inc (FSRI) Akihito Matsumura said that they are entering the Lankan market due to the well established history of Sri Lanka-Japan cooperation, and due to the need for the company to have a good base from where we can win in the competitive automotive world.

"We are not looking for conventional production or assembly either-we want to go with cutting edge tech We look to team up with many Lankan firms in joint ventures. As a start we are looking to launch the local EV industry by introducing new innovations to Sri Lankan vehicle market. Our entire (proposed) output is for the Sri Lankan market and we can consider exports after meeting local market requirements.," Matsumura said.

Speaking at the High Level Meeting on Peacebuilding and Sustaining Peace, held at the United Nations Headquarters from 24 - 26 April 2018, Sri Lanka’s Permanent Representative to the United Nations, Ambassador Rohan Perera highlighted the initiatives undertaken by the Government of Sri Lanka on reconciliation and peacebuilding in the country.   

In his address, Ambassador Perera emphasized the importance of prevention of conflicts, as reflected in the Secretary General’s Report on Peacebuilding and Sustaining Peace, as a factor that would save countless lives and resources that could otherwise be utilized for a country’s development.

He also stressed the importance of ensuring predictable and sustained funding for peacebuilding initiatives through the Peacebuilding Fund, which were crucial for reconciliation and peacebuilding efforts of countries such as Sri Lanka. Dr. Perera highlighted the collaboration between Sri Lanka and the Peacebuilding Support Office, as an example of a fruitful partnership on peacebuilding between a Member State and the United Nations.
 
In his intervention at the Third Interactive Session of the High Level Meeting regarding Strategic Partnerships with the United Nations for Peacebuilding and Sustaining Peace, Ambassador Perera focused on the importance Sri Lanka places upon inclusivity in the peacebuilding process, particularly by engaging all relevant stakeholders such as women, youth and civil society.  Sri Lanka’s efforts of engaging the Diaspora in peacebuilding initiatives was also highlighted.
 
Ambassador Perera also chaired a segment of the first Plenary Session of the High Level meeting on Peacebuilding and Sustaining Peace on 24th April 2018, in the capacity of Vice President of the General Assembly.
 
On the fringes of the High Level Meeting, Sri Lanka co-sponsored a side event on the “Role of Education in Peacebuilding and Sustaining Peace” on 26th April 2018 at the United Nations Headquarters in New York, together with the Permanent Missions of Costa Rica and Bangladesh and the University of Peace and the Nippon Foundation.  During the event, Ambassador Perera served as a panelist and drew attention to the efforts of the Government of Sri Lanka to include education within the peacebuilding and reconciliation architecture of Sri Lanka and highlighted the initiatives adopted by the civil society, most particularly youth, to complement the efforts of the Government on peacebuilding and reconciliation.  Several panelists at the event too made positive references to Sri Lanka’s peacebuilding initiatives.

 List of State Ministers:

Palitha Range Bandara - State Minister of Minister of Irrigation and Water Resources Management and Disaster Management

Dilip Wedaarachchi - State Minister of Fisheries and Aquatic Resources Development and Rural Economy

M.L.A.M. Hizbullah - State Minister of Highways and Road Development

Mohan Lal Grero - State Minister of Higher Education and Cultural Affairs

A.D. Champika Premadasa - State Minister of Plantation Industries

Lakshman Senewiratne - State Minister of Public Administration and Management, and Law and Oder

Sriyani Wijewickrama - State Minister of Sports, Provincial Councils and Local Government

Weerakumara Dissanayake - State Minister of Mahaweli Development

List of Deputy Ministers:

Karunarathna Paranawithana - Deputy Minister of Science, Technology and Research, Skills Development and Vocational Training, and Hill Country Heritage

Ameer Ali Shihabdeen - Deputy Minister of Fisheries and Aquatic Resources Development and Rural Economy

Dunesh Gankanda - Deputy Minister of Lands and Parliamentary Reforms

Ranjan Ramanayake - Deputy Minister of Social Empowerment

Sarathie Dushmantha - Deputy Minister of Justice and Prison Reforms

Palitha Kumara Thewarapperuma - Deputy Minister of Sustainable Development, Wildlife and Regional Development

Manusha Nanayakkara - Deputy Minister of Telecommunication, Digital Infrastructure and Foreign Employment

Muthu Sivalingam - Deputy Minister of Internal Affairs and Wayamba Development

Seyed Ali Zahir Moulana - Deputy Minister of National Integration, Reconciliation and Official Languages

H.M.M. Harees - Deputy Minister of Public Enterprise and Kandy Development

First Deputy Prime Minister and Foreign Minister of Serbia, Ivica Dacic will be in Sri Lanka, India and Nepal from May 2-8, the Serbian Foreign Ministry has announced. 

Dacic will be meeting with top officials from Sri Lanka with a view to strengthening overall bilateral relations. Furthermore, many agreements on modalities for improving cooperation in all areas of mutual interest will be on the agenda of the expected meetings. 

The visit to these countries will also be an opportunity for the first deputy prime minister to present the situation in Kosovo and Metohija, as well as to convey the gratitude of the government of Serbia for their support to the territorial integrity and national sovereignty of our country, the statement said.