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India and SL must forge together long term: President

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India and SL must forge together long term: President In keynote at Indian CEO Forum’s annual fellowship banquet Wickremesinghe says together, India and Sri Lanka possess immense potential Ahead of visit to India and meeting with Modi next week President moots long-term relationship between the two nations must transcend individual leaders or political parties  Stresses relationship between India and SL not solely driven by governments but by people who are moving forward at a rapid pace President Ranil Wickremesinghe on Thursday said both India and Sri Lanka should forge together…

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‘Presidential control over DDO undermines power of Parliament’

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‘Presidential control over DDO undermines power of Parliament’ By Shamindra Ferdinando Dissident SLPP MP Gevindu Cumaratunga has strongly opposed the government move to place the debt-restructuring programme under President Ranil Wickremesinghe’s control as the latter does not represent Parliament. Addressing Parliament on Saturday (01), the leader of civil society group ‘Yuthukama’ pointed out that the Resolution on the Domestic Debt Optimisation (DDO) was meant to bring the whole process under Finance Minister Wickremesinghe’s power. How could Parliament grant such authority to a person not among elected or appointed members of the current…

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PAFFREL calls for Private Member Bill on LG bodies to be defeated

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PAFFREL calls for Private Member Bill on LG bodies to be defeated .Says the bill is a death blow to the sovereignty of the people and democracy  Claims bill does not specify for how long a Minister will be able to reactivate LG bodies  Stresses governments could misuse the law to not hold elections when unfavourable Independent election monitors, People’s Action for Free and Fair Elections (PAFFREL) yesterday called for the recently gazetted Private Member’s Bill presented by Sri Lanka Podujana Peramuna (SLPP) MP Jayantha Ketagoda to be defeated. According…

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Parliament unplugs powerful regulator

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Resolution for ouster of Public Utilities Commission Chairman receives 123 votes in favour and 77 votes against in Parliament   Janaka Ratnayake says ouster not defeat but loss for people and MPs who voted for it  Opines vote exposed MPs acting on baseless allegations to oust Chairman of independent commission who put people’s interest first and challenged unfair actions by Govt.   President Wickremesinghe’s Government has increased electricity tariffs by 1200% in August last year and by 275% in February 2023  Power and Energy Minister Kanchana Wijesekera charged politically motivated Ratnayake’s actions…

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Restoring Ferry Service Will Rewrite History of India-Lanka Ties

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Restoring Ferry Service Will Rewrite History of India-Lanka Ties The ferry service between India and Sri Lanka, as well as railway connections, have all but vanished since the turn of the 19th and the 20th centuries, and the use of a comfortable Singaporean passenger vessel ‘IndSri‘ to sail between Karikkal (KKL)Port in South India and Kankesanthurai (KKS) Port in Sri Lanka’s Northern Province next month (Mid-May), will rewrite the history of sea connections between Indo-Sri Lanka. There was formerly a regular ferry service between India and Sri Lanka that served…

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Northern Province, ILO and EY collaborate to advance private sector investments

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Northern Province, ILO and EY collaborate to advance private sector investments The Northern Province Governor’s Office, International Labour Organisation (ILO) and Ernst & Young (EY) collaborated to organise stakeholder meetings on generating investment-driven growth in the Northern Province.  These meetings focused on the agriculture, animal husbandry, fisheries/aquaculture, apparel, food processing, and tourism sectors and were attended by private and public sector representatives relating to these sectors. The Northern Province has extensive, but largely underutilised, resources that are very favourable for agriculture, animal husbandry, fisheries/aquaculture, and food processing activities and is…

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Lazard intensively evaluates State Banks asset quality

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Lazard intensively evaluates State Banks asset quality The Lazard Sovereign Advisory Group, which serves as a financial adviser to Sri Lanka’s debt restructuring programme, has undertaken an intense examination into the best way to approach State Banks for the local debt restructuring programme, a senior government official told Finance Today. According to official sources, Lazard is currently undertaking an in-depth study to determine how participation in domestic debt restructuring programme will affect the overall quality of assets held by each State Bank.   “In addition to the ongoing banking sector asset…

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CBSL Chief says Indian tourists to Sri Lanka can pay in INR

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CBSL Chief says Indian tourists to Sri Lanka can pay in INR Central Bank Governor Dr. Nandalal Weerasinghe yesterday said that Indian tourists to Sri Lanka pay in their currency Indian Rupee (INR). He reiterated that making INR a designated currency by the Central Bank of Sri Lanka enables not only trade settlement between the two countries in INR but also Indian tourists coming to Sri Lanka can use INR for transactions. Dr. Weerasinghe also expressed support for the linking digital payment interfaces between the two countries during his keynote…

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EU and FAO launch 4 m Euro initiative to improve efficiency, sustainability of paddy farming

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EU and FAO launch 4 m Euro initiative to improve efficiency, sustainability of paddy farming Program targets 71,000 smallholder paddy farmers and 1,200 paddy seed farmers across 7 districts The Food and Agriculture Organisation of the United Nations (FAO) together with the European Union (EU) on Saturday launched a new program to strengthen food security in Sri Lanka by boosting the productivity and sustainability of the paddy cultivation sector. The 4 million Euro (approximately Rs. 1.5 billion) initiative funded by the EU was initiated at an event held at the…

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Japan, UNDP launch fresh programs to boost socio-economic recovery

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Japan, UNDP launch fresh programs to boost socio-economic recovery $ 3.8 m initiative via home-based agriculture and energy security interventions 58,000 women and youth will directly benefit from these projects, while indirectly impacting over 132,000 vulnerable community members from the North-Central, North-Western and Eastern provinces The Government of Japan and the United Nations Development Program (UNDP) yesterday launched a new initiative to strengthen socio-economic recovery via home-based agriculture and energy security measures. The $ 3.8 million (Rs. 1.17 billion) initiative supports improvement of women’s economic wellbeing for smallholder farmer families…

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