Mar 18 (Island) Over 90% of students who were in Grade 1 when COVID-19 broke out have not been able to achieve a satisfactory level of literacy and numeracy, a survey with a sample size of 10,600 such students has found. The report Assessment on achievement levels of foundational skills in literacy and numeracy of Grade 3 students in SL, by Ministry of Education has found this. The survey also found 73% of the students do not more..

Mar 18 (FT) Uber Eats, brought on board 100 electric cycles on its platform. The e-cycles launched as Voltage Edition are manufactured by Lumala, SL�s largest cycle manufacturer, and have been especially designed for deliveries. They have a range of up to 100 kilometres and top speed of up to 30 kilometres per hour. Uber Eats was the first platform to introduce cycle deliveries in SL last year. The e-cycles can cover longer distances than regular bicycles and are easier to maintain more..

Mar 18 (FT) Colombo stock market managed to close the week on the up after a mid-week struggle as local investor sentiment remained mixed whilst foreigners stepped up buying. The ASPI gained 63.46 points (+0.66%) during the week while the S&P SL20 gained 16.97 points (+0.60%). Daily turnover averaged Rs. 1,531 million, declining from Rs. 2,744 million last week. The market saw net foreign inflow of Rs. 600 million to increase the year to date figure to Rs. 3.9 billion as opposed to more..

Mar 18 (CT) A suicide is happening in SL once in every four hours and the majority of them are reported among males, Director of National Institute of Mental Health (NIMH) Dr. Rohan Ratnayake said. He said 2,833 males and 574 females have committed suicide in 2022. Owing to the current economic crisis, it is observed that the number of suicides amongst apparel factory employees has increased and as a result, suicides in the Gampaha District have increased at an abnormal rate, more..

Mar 18 (FT) Public Utilities Commission (PUCSL) is to take legal action against improper appointment of a Commissioner by the Finance Ministry Secretary. PUCSL Chairman Janaka Ratnayake sai that in appointing Kushan Jayasuriya to the position of member of the Commission, Finance Secretary Mahinda Siriwardena has violated the Act by misleading the Minister in charge and the Legislative Council of the Parliament. According to Section 5 (2) (g) of the Public Utilities Commission Act, more..

Mar 18 (FT) People�s Bank yesterday denied misleading reports published in State media regarding Govt institutions� bank accounts. �We would like to clarify that we have not received any direct or indirect requests or instructions from any State institution to close their accounts with us,� People�s Bank Marketing Department said in a statement. �We wish to strongly emphasise that People�s Bank has always been a trusted partner for State organisations in providing reliable more..

Mar 18 (DM) The first school term for the year 2023 will start on April 5, the Education Ministry announced. According to the statement issued by them, the first school term will continue until April 16. The second school term holiday for the year 2023 will be given from Oct 14 to Nov 12 on account of the grade five scholarship exam and GCE A/L Exam. Accordingly, the third school term will be from Dec 23 to Jan 1, 2024. The school holiday will be given to all Sinhala and Tamil schools. more..

Mar 18 (EN) SL�s trade unions and professional associations agitating against an IMF-backed tax hike are to hold talks with the secretary to the president ahead of a discussion with Prez Ranil Wickremesinghe. Media spokesman of FUTA Charudaththa Illangasinghe said that the meeting with Prez�s Secretary Saman Ekanayake was to be held that noon. The discussion had been scheduled for March 21 but had been brought forward, more..

Mar 18 (FT) Consumers remain very pessimistic, with a small recovery in current buying conditions as per Institute for Health Policy (IHP) Feb 2023 update of its Consumer Confidence Indices. Generated from its SL Opinion Tracker Survey (SLOTS), it revealed that consumer confidence, which was already deeply pessimistic, continued to worsen in February, with the Index of Consumer Sentiment (ICS) declining 3 points to reach 12. ICS is the broadest measure of the public�s views of their more..

Mar 18 (Island) Public Health Inspectors (PHI) yesterday collected samples of food, from eateries catering to pilgrims visiting Sri Pada. PHIs from Nallatanniya and Erathna started collecting food samples that included dairy products kept for sale. Samples were collected from eateries from Nallatanniya to Gangulatenna. These samples will be sent to the office of the Ratnapura District Medical Officer of Health, and thereafter to the Medical Research Institute (MRI), Borella. more..

Mar 18 (EN) Sri Lanka rupee currency hit the international headlines after it became the World�s best performing currency last week for a short period after gaining around 15% within just seven trading sessions. However, since then it has fallen gradually amid speculations. The rupee, which fell over 50% last year to 360 against the US dollar from around 200, was one of the world�s worst performing currencies in 2022. more..

Mar 19 (ST) Work harder for your larder ought to be the slogan of the professional and working classes of a country that needs to come out of the hellhole of bankruptcy. Instead, the local slogans seem more on the lines of; Diyaw; Diyaw (give, give) calling for more benefits and Epa, Epa (no, no) for more taxes. Problem for this Govt and future Govts would be �how, how�. Country is broke, awaiting a bailout from the IMF and that too only on a phased-out programme with many tough reforms to more..

Mar 19 (SO) There is a raging debate in society as well as in the media about the present wave of strikes organised by certain Trade Unions (TUs) which oppose the Govt�s new tax structure. Some have wisely decided not to engage in a continuous strike, taking into consideration the hardships caused to the public and also assurances by the Presidential Secretariat that their grievances would be looked into as soon as the economic situation improves following the IMF bailout. more..

Mar 19 (ST) Justice Minister Wijeyadasa Rajapakshe made an unusual revelation regarding some drug related arrests made by the Police. He revealed they had found that many samples of supposedly dangerous drugs sent by some Police stations to the Govt Analyst�s Department for testing were not dangerous drugs. �When this happens to one or two samples, we can put it down to honest mistakes. more..

Mar 19 (CT) Last Wednesday, March 15, Dept of Census & Statistics (DCS) revealed a whopping 7.8% contraction of the economy in 2022, the fourth quarter being the villain with 12.4% negative growth. Everything now is the worst ever. But there is no contraction, whatsoever, in the political confusion that is twisting the country�s parliament in knots. In global economic news, the dramatic collapse of the Silicon Valley Bank (SVB) in California last week, followed by New York�s Signature Bank, more..

Mar 19 (ST) My dear Premanath, I thought of writing to you because you seem to have become famous overnight. Two weeks ago, if asked about you, most people would have said, Premanath who? Now though, many people not only know your name, they are talking in great detail about what you said in the House by the Lake. Being a politician, you must be happy. For you, any publicity must be better than no publicity. We also heard that you are an actor. Again, you are one of those actors who does more..

Mar 19 (SO) Minister Manusha Nanayakkara said they appreciated the decision taken by the vast majority of the working class not to extend their support to Wednesday�s trade union action, giving a strong signal to those who deliberately attempt to destabilise the country. Minister said the stand taken by the state and private sector employees was a clear indication that we can successfully move forward by setting more..

Mar 19 (TM) The dangers of a reckless leadership prone to making errors of judgement for reasons of political expediency are all too real for generations of Sri Lankans who have been at the receiving end of those errors, long after the politicians who made them have departed this world. The present administration, which boasts of politicians who have been associated with the country�s governance for nearly half a century, ought to know well by now the consequences of such reckless actions and more..

Mar 19 (Island) All indications are that the executive board of the IMF will sign off tomorrow on the $2.9 billion bailout package its staff worked out with SL in September. Prez Wickremesinghe can no doubt claim credit for clinching a deal on which work began at the height of the island�s economic crisis. Ministers and govt politicians are already trumpeting the impending success. They see it as a way out of the unprecedented financial crisis precipitated by their own SLPP administration. more..

Mar 19 (ST) Sports authorities will have to rethink and revise their strategies in dealing with local sport governing bodies after FIFA confirmed the suspension imposed on Football Federation of SL (FFSL) at this week�s FIFA congress with 197 members supporting the move. FIFA�s 73rd Congress was held on Thursday in Kigali, Rwanda where a vote was taken to confirm the suspension issued in January this year. FIFA President Gianni Infantino, who was reelected for another, more..

Mar 19 (CI) Double tons from Kane Williamson and Henry Nicholls gave NZ a vice grip on proceedings as SL were essentially battered and batted out of the second Test in Wellington. In the process, the pair put on a 363-run stand - New Zealand's second-best third-wicket partnership and fourth-highest for any wicket in NZ - during which SL's bowlers were run ragged all around Basin Reserve. After declaring on 580 for 4, Oshada Fernando and Kusal Mendis were removed in the 17 overs prior to close of play, more..

Mar 19 (TM) The Ranil Wickremesinghe Govt is all set to take a victory lap over securing the much-discussed financial facility from the IMF that is expected to be finalised by the fund�s Executive Board tomorrow (20). The official announcement is expected to take place on Tuesday (21). The question in the mind of ordinary Sri Lankan citizens is whether the IMF facility will resolve the ongoing economic crisis and provide them with more..

Mar 19 (Island) With the LG elections in full sway, SL�s main political parties are once again formulating and debating policies. The main Opposition, the SJB, has come out against parties seeking alternatives to engagement with the IMF. it has been particularly critical of its main opponent in the Opposition, JVP-NPP, which organised an Economic Forum at Galadari Hotel last week. As the SJB�s Harsha de Silva implied at a press conference, whatever the party in power may be, more..

Mar 19 (ST) Amidst the appreciation of the rupee, has the US dollar crisis ended? �It has,� says CB Governor Dr. Nandalal Weerasinghe. �The dollar crisis has ended. We have enough dollars to service all sectors,� he told the Business Times in an interview which dealt with foreign exchange, inflation, GDP growth and the timelines of the much-awaited IMF facility. He was speaking days before the IMF board meets tomorrow in Washington to (most likely) formally approve US$2.9 bil more..

Mar 19 (ST) Languishing at the bottom of the table in FIFA rankings, SL appears to revel in shooting itself in the foot. This is a strange phenomenon for a once proud football nation. We were never top dogs at any level in World or Asian football, but held our own and conducted our forays with more than a modicum of respectability. We seemed to have shed that veneer from what has come to pass in the recent past. With the FIFA suspension that has all but brought the sport to a standstill, more..

Mar 19 (SO) Lankaila comprising a consortium of investors from Sri Lanka and Singapore made its sixth acquisition in the local hotel sector when they took an 80% controlling stake of Balaji Ocean Hotel, Arugam Bay pumping in over Rs. 160 million. �We have already made investments of over USD 8 million for seven more such acquisitions so far,� said Chairman Lankaila, Dhakshitha Bogollagama. The Balaji acquisition mark their presence in the eastern coast of Sri Lanka. more..

Mar 19 (TM) Despite a statement last week on the renewal of the Japan-funded Light Rail Transit (LRT) Project, there has been no official communication regarding the project between Japan and SL. Last week, Minister Prasanna Ranatunga stated that the Govt was ready to renew the LRT Project contract with a JICA loan facility, given its favourable conditions including low interest rates and a 12-year grace period. more..

Mar 19 (TM) Ministry of Labour and Foreign Employment has revealed plans to introduce a unified labour code by May 2023 aimed at streamlining the hiring and firing process and ensuring greater female participation in the labour force. Secretary to the Minister of Labour and Foreign Employment Shan Yahampath stated that pursuant to the 2023 Budget proposal to introduce new labour policies, the introduction of a unified labour code by May 2023 was being sought. more..

Mar 19 (ST) Posting good income from overseas operations including Bangladesh and Maldives, the Commercial Bank, is keen to replicate similar overseas operations in the medium term to spread the single-country concentration. Commercial Bank CEO Sanath Manathunge told the Business Times that the bank is eyeing overseas expansion and further growth opportunities in Bangladesh and Maldives. He said banking as a service (BAS) could be an option for overseas expansion. more..

Mar 19 (TM) Legal counsel for SJB General Secretary Ranjith Madduma Bandara has written to Treasury Secretary K.M. Mahinda Siriwardana, informing him that he will be charged for the offence of contempt of court. The letter, sent by Madduma Bandara�s lawyer Attorney-at-Law Sampath Wijewardena, cites the outcome of a Supreme Court case filed by Madduma Bandara regarding the release of funds for LG polls more..

Mar 19 (EN) SL�s growth will be contained at negative 3% in 2023 after a 12.4 percent shrinkage in the fourth quarter of 2022 and is expected to turn positive from next year, State Minister Ranjith Siyambalapitiya said. He said that SL can expect a positive economy in 2024. SL�s economy shrank by a record 7.8% in 2022 following the worst currency crisis in the country�s post-Independence history. GDP contracted contracted by as much as 12.4% in the fourth quarter of the year. more..

Mar 19 (EN) A 34-year old suspect has been arrested in Elpitiya for strangling three women to death and looting property, police said. The Elpitiya Division Crimes Investigation Unit launched investigations after a woman was strangled and her belongings were robbed in Itthepana on November 2 last year and also over the murder of two women who were strangled to death and their property robbed in Elpitiya last month. The suspect, a resident of Yagirala was arrested and more..

Mar 19 (EN) SL�s LankaPay, has processed transactions worth 18.671 trillion rupees of transactions in 2021/2022, the payment network said. �This would not have been possible if not for the banks, non-banking financial institutions as well as FinTechs who thrived for customer convenience through payment technology innovations,� the company said in a statement. The firm is holding a LankaPay Innovation awards on March 21 to recognize, banks, non-banks & FinTech firms more..

Mar 19 (ST) Electronic methods are to be made compulsory for the payment of personal taxes to the Inland Revenue Dept from April 1. To give effect to the decision, an amendment to the Inland Revenue Act has been introduced by the Minister of Finance. According to the amendment, a person is expected to file tax returns electronically through the use of a computer system or a mobile electronic device. However, depending on the case, the Inland Revenue Commissioner-General may more..

Mar 19 (AD) Bar Association of SL (BASL) stresses that the next IGP should be an officer whose service is exemplary and free of any blemish. The police chief should be able to restore public confidence the Sri Lanka Police, which saw a serious erosion over the last few decades, the BASL said in a letter addressed to Prez Wickremesinghe. Attributing the erosion of public confidence in the police to lack of confidence, more..

Mar 19 (ST) The overseas allowance for Ministers, MPs and senior officials will be slashed from tomorrow on a directive from the Prez�s Office. Finance Ministry has been directed by the Prez�s Office to reduce the payment of allowance and the number of days they would be entitled to claim the allowance. All travel for public officials to attend training programmes, study tours, conferences, discussions and tours on local expenses also has been banned by the presidential directive. more..