July 21 (FT) Sri Lanka runs the risk of losing much needed Foreign Direct Investments (FDIs) unless govt corrects or clarifies a recent amendment to the Inland Revenue Act, concerned experts warned. Concern and confusion follows the Govt putting a timeline of April 2015 for investments to be made if such projects want to enjoy existing tax concessions. This applies to several projects approved by BoI since April 2011 more..

July 21 (LT) The rulers of the present govt are scheming to plunder the �Kukmin� fund from Sri Lankans working in South Korea says the Member of the Central Committee of the JVP, Dr. Nalinda Jayatissa. The National Pension Service or �Kukmin� (read as Kukminyoenkeum) is a public pension fund in South Korea. Any foreign worker is obliged to contribute monthly for the �Kukmin�. The mechanic is when a worker pays his monthly contribution to the NPS, his or her boss will more..

July 21 (LBO) Sri Lanka's loans to private business from commercial banks slipped 7.9 billion rupees in May 2014 from a year earlier while credit to the state and state enterprises also contracted, official data shows. Private credit has contracted in four out of five months this year and is down 60 billion rupees from December, largely on account of contractions in gold-backed loan books, where there were defaults. Central Bank has said that loans to industry and services were strong. more..

July 21 (DM) Legal luminaries yesterday observed that the proposed amendments which are to be brought in respect of Law College entrance by the Incorporated Council of Education (ICLE) would be detrimental and hinder the further education of local students registered with foreign universities. According to the proposed amendments a special entrance examination would be held for LLB graduates by recognised more..

July 21 (DM) A rivalry between one dancer and three other women dancers at an Indian Night club in Kollupitiya had led to a brawl which ended up in Court and all four women were reprimanded by Colombo Fort Magistrate. In her complaint to the Police, one of the dancer alleged that she was severely beaten by three other dancers while they were ready to perform one day last week. She alleged that she was admitted to a hospital due to several bite injuries caused by more..

July 21 (SL) The navy has launched an investigation into the rape of a young girl in Jaffna. The identification parade was held last Friday of seven naval personnel arrested for the rape of the 11-year-old Tamil girl in the Kytes area. Kyts police, having conducted investigations, had arrested seven naval personnel attached to the Poorikalabhoomi Navy detachment last Friday and produced them before the Jaffna children�s court and remanded them until July 21 pending an identification parade. more..

July 21 (Trend) Mohsen Qamsari, an official with the National Iranian Oil Company, said on July 20 rejected the claims that Iran is selling crude oil to Greece, Sri Lanka, and South Africa. "China with 400,000 barrels per day is the biggest costumer of Iranian crude oil," he said, adding that Beijing's imports account for 40% of Iran's total oil export. "India with 25% is the second biggest costumer of Iranian oil," he said. more..

July 21 (Island) Three LTTE members arrested in Malaysia and extradited to Sri Lanka last Friday have spilled the beans on Tiger activists under questioning by the sleuths of the Terrorism Investigation Division. They have told the interrogators that they had never thought that the LTTE would be defeated militarily in the North. Two of them fled to Malaysia in 2000 via the BIA. In 2009, the third member went there after the defeat of the LTTE. more..

July 21 (CT) The SLMC will demand that the UPFA hand over the chief ministerial position, of the Eastern Provincial Council to the SLMC as agreed prior to the election. SLMC General Secretary Hassan Ali said, the UPFA leaders agreed to hand over the position to the SLMC after two and a half years. Thus, the position needs to change hands by 2015. The SLMC won seven seats at the election held in September 2012; UPFA won 22 seats including the SLMC seats. more..

July 21 (AFP) A govt crackdown this month on NGOs has sparked claims that President Rajapakse, paranoid that he could be toppled, is again attempting to silence critics and tighten his grip on power. The defence ministry this month banned NGOs from holding press conferences, awareness campaigns, training for journalists, workshops and disseminating press releases on everything from voter rights to exposing corruption. more..

July 21 (Island) Any slight increase in the world market prices of oil would make the govt double fuel prices in the local market, the UNP union at the CPC said, adding that the management was working according to an unwritten hedging deal. The unloading of crude oil at the Colombo Port had come to a standstill due to lack of storage facilities with demurrage payments for tankers held up causing a loss of USD 60,000 to date, CPC Union General Secretary, Ananda Palitha said. more..

July 21 (GDI) The Economic Development Ministry has allocated Rs.2,657 million for developing the Badulla District in the Uva Province under the House-to-House, Village-to-Village National Economic Development Plan. The Badulla District programme will cover 567 Grama Seva Divisions in 15 Dvisional Secretariat areas of the Badulla, Haputale, Bandarawela, Uva- Paranagama, Welimada, Mahiyanganaya, Passara, Haliela, Viyaluwa Electorates of the district. more..

July 21 (PTI) TNA for the formation of a new secular national political front with participation from majority Sinhalas and minority Muslims to find a credible solution to problems of the Tamil people. The move came during the convention of the EPRLF, a constituent party of the TNA, in Jaffna. TNA leader R Sampanthan told the convention that neither the Tamil people nor the Tamil politicians are demanding a separate Tamil state. more..

July 21 (DM) Minister Bandula Gunewardena has come up with a new solution to solve the nation�s Maths problem. Soon, those who fail in Maths at the GCE O/L will get the opportunity to complete the subject within a time period of two years, instead of current one year period. According to education sector statistics, almost half of the students who sit for the O/Ls fail in Mathematics. It is indeed a very progressive move by the Education Minister to explicitly show that Math is not all. more..

July 21 (DM) Two incidents which have taken place recently have had their impact on the people in this country, one is the Uva PC has been dissolved, the other is the exquisite new Arcade at Independence Square. In fact both, in a sense, show the disparity in the reality that exists in this so-called Paradise island of ours. On the one hand the election will be held in one of the most marginalised provinces in SL where people in the interior of these provinces scarcely have money to have a square meal. more..

July 21 (DM) Former diplomat, educator and peace activist Javed Yusuf in an interview over recent development says it is very unfortunate that when we as a country are facing a number of challenges on the international front we are shooting ourselves in the foot by creating another problem which has already drawn unfavourable international attention. Mr. Yusuf is an Attorney-at-Law, Former Ambassador to Saudi Arabia, more..

July 21 (AD) Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal urges Sri Lankan pilgrims to Dambadiva, India not to put Sri Lankan coins into tills at places of worship. Around 20 tons of coins put into tills at places of pilgrimage at Dambadiva are lying without being used at such pilgrimage sites and moves are ahead to bring it back to the island while incurring additional expenses, Governor Cabraal said. more..

July 21 (ST) With Elections Commissioner Mahinda Deshapriya announcing dates for handing over of nominations to the Uva Provincial Council polls, political parties are not wasting any time to win over voters. Posters have sprung up in many areas in the Badulla and Moneragala Districts with photographs of prospective candidates while the distribution of various goods meant to induce voters is also underway. more..

July 21 (SL) Startling revelations have now come to light as to how the Ceylon Petroleum Corporation (CPC) went ahead to purchase the inferior quality undersea buoy hose that ruptured on May 23 causing colossal losses to the Corporation, when the Technical Evaluation Committee (TEC) strongly opposed the idea. A senior official at the CPC revealed last week as to how the TEC urged the CPC and Ceylon Petroleum Storage more..

July 21 (CT) Minister Wimal Weerawansa, has proposed that the govt ban all religious sects and denominations of recent origin � That is, 'not older than five centuries'. He said such a ban would 'end communal, religious and sectarian violence in the future'. Article 10 of the Constitution of Sri Lanka guarantees religious freedom, and 'freedom of thought, conscience and religion, including the more..

July 21 (Island) Former Government Medical Officers Associaton (GMOA) office bearer Prof. Ranjanee Gamage accuses the GMOA of having misappropriated Rs. 20 million and spent funds on various programmes without any transparency or accountability. The GMOA employs only 18 persons at its headoffice but they have been paid Rs. 5.8 million as emoluments per annum, she says. Prof. Mrs. Gamage said that since more..

July 21 (CG) Former Union Cabinet Minister and chairman of the BJP Committee for Strategic Action Subramanian Swamy is scheduled to meet President Rajapaksa, Foreign Minister G.L. Peiris and Defence Secretary Gotabhaya Rajapaksa during a visit to Sri Lanka this week. Dr. Swamy has been a keen Sri Lanka watcher, and a regular visitor to the island. Last September, he called on President more..

July 21 (Island) Top UN coordinator in charge of the ongoing war crimes investigation into accountability issues in Sri Lanka, Sandra Beidas and Sri Lanka�s Permanent Representative in Geneva, Ravinatha Aryasinha are unlikely to meet officially, though UN Human Rights Commissioner, Navanethem Pillay has asked for a powvow between the duo and the naming of a focal point, authoritative sources said. more..

July 21 (AM) The Prisons Department has stated that the former Chairman of Tangalle Prdeshiya Sabha- who is presently undergoing a twenty year imprisonment- can walk out a free man in 12 and a half years according to the ranking system that is applicable to prisoners. The Department told media that a person who is assigned a sentence of 20 years of rigorous imprisonment can reduce their sentence to more..

July 21 (CG) Several Tamils who are either victims or witnesses of the war are eager to testify before a UN led investigation to seek justice for the mass killing of their relatives and other Tamils, the Transnational Govt of Tamil Eelam (TGTE) said. TGTE leader Visuvanathan Rudrakumaran appealed to the PM of Portugal Pedro Passos Coelho, who met President Rajapaksa, to raise with Sri Lanka the issue more..

July 21 (CT) The media has off and on been reporting on treasure hunters being arrested by the police for digging archaeological sites looking for hidden treasure to make quick money. All sorts of people, including businessmen, exorcists and monks have been arrested, produced before the Courts of law and punished. However, despite the punishment handed down by the Courts, which is often limited to fines, the activity goes on unhindered as the lure of money is greater. more..

July 21 (Island) Strong winds would hit the Central hills especially on the western slopes in addition to heavy showers today, Emergency Operations Unit of the Disaster Management Centre and the Meteorology Department warned. Meteorologist-in-charge Anusha Warnasuriya said that it was as a result of reactivation of the South West monsoon. She said that few showers would also occur in the Western, Sabaragamuwa and Central provinces and in the Galle and Matara Districts. more..

July 21 (LBO) Stocks closed 0.51% higher with diversified stocks gaining despite net foreign selling. All Share Price Index closed 34.32 points higher at 6,756.52, up 0.51%. The S&P SL20 closed 29.17 points higher at 3,768.15, up 0.78%. Turnover was 904.71 million rupees, down from 1.30 billion rupees last Friday with 132 stocks closed positive against 66 negative. DFCC Bank closed 30 cents lower at 165.40 rupees with an off-market transaction of 162.00 million rupees changing hands more..

July 21 (Island) More than 100 Grama Niladaris in the Ambakotuwa Division in Kurunegala will protest today against an attack on one of their colleagues by Kurunegala District Parliamentarian Nimal Wijesinghe, who crossed over from the UNP to UPFA. The victim, 29 year-old Sanath Ananada Wimalsena had not issued a permit to a supporter of the parliamentarian for felling a Jak tree. The MP argued with the Grama Nildari, slapped him and kicked him in the stomach. more..

July 21 (AM) UNP charged that the administration of the Parliament is deliberately delaying action on privilege issues raised by UNP MPs. UNP MP Ajith P Perera said the privilege issue they raised on the clash which took place in Hambanthota has not yet been presented before the privileges committee of Parliament. "It is the duty of the administration of Parliament to take measures to bring these matters before the Privileges more..

July 21 (CT) Just days after the verdict given on the murder case of British aid worker Khuram Shaikh, the Prisons Department has stated that UPFA strongman and former Chairman of Tangalle Pradeshiya Sabha, Sampath Chandrapushpa Vidhanapathirana � the main suspect found guilty of murdering the British aid worker and raping his fianc� � maybe able to walk out a free man in 12 � years instead of undergoing the full term of 20 years as per the judgment. more..

July 21 (Island) Two forest fires that raged in Moneragala and Medirigirya destroyed around 300 acres on Friday and Saturday. A fire that broke out on Friday evening at Kankanam Hela Kanda in Dambagalle DS area in Moneragala destroyed around 100 acres of forest. The fire spread on Saturday, destroying valuable trees including satinwood and halmilla in the reserve. It was the fifth time a fire has broken out in the Kankanam Hela Kanda forest within one week. more..

July 21 (CG) UNP and the ruling SLFP have been urged to work together on the national issue. Senior Minister D.E.W Gunasekera said that the national issue cannot be resolved without the two main political parties working together. �A national issue cannot be resolved without the main political parties working together,� he said. He recalled that former PM and SLFP leader Sirimavo Bandaranayaka worked with the then UNP more..

July 21 (Reuters) Rupee fell on Monday due to importer dollar demand, and the currency could face some downward pressure in the future on a possible pickup in imports. Dealers, however, said they did not see any impact on the rupee due to $307 million in outflows from govt securities a week earlier. The rupee was traded at 130.30/33 per dollar at 0838 GMT, weaker from Friday's close of 130.28/30. Early last week, the rupee had closed at its highest in more than a year. more..

July 21 (CT) Ethno-religious identity groups are formed in a structurally antagonistic pattern through specific historical processes. The Buddhist and Hindu revival movements which emerged in Sri Lanka in the middle of the 19th Century are the bases of present ethno-religious groupings. Sinhala ethnicity is defined in opposition to, or structured against, Tamil and Muslim ethnicities. Sinhala ethnic sentiment is, therefore, hostile towards Tamils and Muslims. �Structured against� does not mean more..

July 21 (CT) British national, Naseer Shaikh speaking with great sadness over the murder of his brother, Khuram Shaikh, in Tangalle two and half years ago, says he has come to terms with the 20 years of rigorous imprisonment imposed on the four accused by Colombo High Court. However, he said there is no closure of the case since he knows the convicts will file an appeal in 14 days and he would be watching the development closely. more..

July 21 (Island) Sri Lanka conducted the country�s second National Dialogue for Global Environment Facility (GEF) financed projects and programmes last week under the patronage of Environment and Renewable Energy Minister Susil Premayantha. The first National Dialogue was held around 12 years ago in Colombo. Established in 1991 by the UN the GEF is the largest funder of projects to improve the global environment. The GEF has allocated USD10 bn for more than 2,800 projects over more..

July 21 (Xinhua) President Rajapaksa has conveyed condolences via twitter to families on the loss of loved ones on Malaysian Airlines Flight MH17. The president sent messages via twitter to the Prime Ministers of Netherlands and Malaysia, saying prayers of the Sri Lankan people are with them during this difficult time. "Please convey my condolences to the people of Malaysia on the loss of loved ones on Malaysian Airlines Flight MH17," he tweeted to PM of Malaysia Najib Razak. more..

July 21 (Reuters) Offshore investors sold 40 billion rupees worth of Sri Lankan govt securities last week, but the central bank said this would not affect the rupee. The total foreign holding in govt securities in the week ended on July 11 stood at 509.59 billion rupees, of which foreign investors sold 7.9%. The sudden outflow reduced the foreign holding in total outstanding govt securities to less than the 12.5% threshold set by central bank. more..