May 16 (Island) Brain drain generally means skilled workers moving from developing to developed countries for better opportunities. While it offers personal benefits, it raises concerns about the impact on countries losing talent. This analysis will explore whether brain drain is a problem or potentially advantageous. Brain drain can be seen as a natural consequence of globalization, where skilled individuals seek opportunities in countries with better economic prospects, more..

May 16 (TM) Uncertainties about conducting elections in SL emerge from time to time. The rulers who were in power and are in power, changing the electoral map for their survival, disregarding the democratic rights of the people, has been the main reason for that. It is not surprising that the majority of the people of this country have doubts and apprehensions about the holding of elections on scheduled dates due to several experiences that they have encountered in the past, more..

May 16 (ST) They are privy not only to our health needs but also our social and psychological status. They stand by us in times of joy and times of sorrow. They are the specialist General Practitioners (GPs) or Family Physicians who know about each and every member of the family and are closest to the people. On the evening of Saturday (4), they were gathered in full strength for a grand double celebration in Colombo more..

May 16 (FT) Bank of Ceylon said during the first quarter of 2024 it demonstrated impressive growth and resilience, achieving a Profit Before Tax (PBT) of Rs. 9.3 billion, a substantial increase compared to the previous year, illustrating its dedication in challenging economic conditions. BOC said as favourable conditions emerge, SL economy is expected to achieve moderate growth in 2024, signalling a pathway towards economic stabilisation after setbacks experienced in previous years. more..

May 16 (Island) Parliament of Sri Lanka can hardly have a sitting without its members resorting to slanging matches and even coming to blows. They seldom see eye to eye on anything of national importance. But they readily sink their differences and work as one to further their own interests and safeguard their privileges. The government has reportedly decided to grant the MPs duty-free vehicle permits (DFVPs) while the people are struggling to meet their basic needs. more..

May 16 (ST) The campaign by Traffic Police and the Colombo Municipal Council to clear busy intersections of beggars seen near traffic lights has seen a drop in their numbers. CMC�s Traffic Design and Road Safety Deputy Director, Manjula Kularathna, said the campaign was aimed at warning the public not to entertain begging near traffic lights. �Most drivers are unaware that taking their hands off the steering wheel is a punishable offence,� he said. more..

May 16 (FT) A high-profile delegation comprising 30 members of the China National Garment Association (CNGA) embarked on a mission to explore business prospects and strengthen ties with Sri Lanka�s apparel industry. Led by Ningbo Garment Association Executive Vice President Xie Qing and Vice President/Secretary General Mao Yihua, the delegation engaged in a series of strategic meetings and engagements aimed at fostering collaboration and investment opportunities. more..

May 16 (FT) SJB expressed its opposition to the proposal put forth by external bondholders last month, and stated there must be comparability between domestic debt restructuring (DDR) and the haircut for international creditors. SJB MP Dr. Harsha De Silva, said USD-based haircut that comes into place is just 7% and is grossly inadequate in comparison to up to 30% during DDR. De Silva lamented the lack of discourse more..

May 16 (FT) Sampath Bank said yesterday it posted a profit before tax (PBT) of Rs. 6.2 billion and a profit after tax (PAT) of Rs. 3.4 billion for the three months ended 31 March 2024, notwithstanding an exchange loss of Rs. 4.3 billion due to the appreciation of the LKR against the USD by Rs. 23.70. These figures signify growth rates of 39.1% and 27.8% respectively, in comparison to the financial results reported in the first quarter of 2023, said Sampath Bank in a statement. more..

May 16 (FT) Hatton National Bank (HNB) said it has recorded a Profit Before Tax (PBT) of Rs. 9.8 billion during the first quarter of 2024 while Profit After Tax (PAT) amounted to Rs. 6.2 billion. At Group level, PBT and PAT were at Rs. 11.2 billion and Rs. 7.4 billion, respectively. Substantial monetary policy loosening adopted by the Central Bank of SL to revive the economy, resulted in a drop in AWPLR by 50% from 21.40% to 10.69% during the 12-month period up to March 2024. more..

May 16 (Island) Minister Manusha Nanayakkara said Sri Lanka wouldn�t under any circumstances stop sending workers to Israel. Minister was responding to SJB demand that the Wickremesinghe-Rajapaksa govt sever diplomatic ties with the Jewish State and halt sending workers in order to condemn the ongoing military operations in Gaza. Referring to the statements that had been made in Parliament more..

May 16 (FT) Fairway Colombo, nestled in the vibrant heart of Sri Lanka�s capital city, said it has secured the coveted title of Best City Business Hotel in Sri Lanka at the prestigious Global Brand Magazine Awards held at The Athenee Hotel Bangkok, Thailand on 4 May. It said this accolade stands as a testament to Fairway Colombo�s unwavering dedication to providing unparalleled service and luxury within Colombo�s dynamic business landscape. more..

May 16 (FT) Colombo stock market yesterday saw the highest single day net foreign buying for the year thanks to strategic deals on Amebeon Capital, though local investor sentiment was mixed. The active S&P SL20 index was down by 0.94% and ASPI was down 0.55%. Turnover was Rs. 3.2 billion involving 152.2 million shares. Foreign investors turned net buyers, recording a net inflow of Rs. 772.1 million whereas until yesterday, the market had seen net selling of over Rs. 900m in May. more..

May 16 (DN) National Table Tennis champion Bimandee Bandara missed her final chance to qualify for the Paris Olympics after losing to Maldives opponent Fathimath Ali at the South Asian Olympic qualification event in Kathmandu. The champions of the men�s and women�s singles at this event would qualify for the Olympics. SL�s Bimandee Bandara, a 19-year-old paddler from Hillwood College, reached the final but lost in a hard-fought 5-set match to Maldivian paddler Fathimath Ali, more..

May 16 (Island) Asian Games gold medallist Tharushi Karunaratne has pulled out from the Asian Relays which is set to take place in Bangkok next week. She has cited medical reasons for her decision according to sources. Tharushi has informed Sri Lanka Athletics of her unavailability hot on the heels of her pulling out from the 800 metres at the Kinami Michitaka Memorial Athletics Meet, a World Athletics Continental Tour Bronze event in Osaka, Japan last Sunday. more..

May 16 (TM) The Chairperson of the COPF Dr. Harsha de Silva is to take up the non-appearance of officials summoned from the Public Security Ministry and the Immigration and Emigration Department before the COPF on Tuesday, with the Speaker of the House as a privileges related issue. �I am taking this issue up with the Speaker as a privilege matter on 22 May when we meet. I have already lodged a complaint,� Dr. de Silva said. more..

May 16 (DM) Sri Lankan rupee is likely to depreciate in the range of Rs.310-320 against the US dollar in the latter part of the year, First Capital Research (FCR) said. This will be driven by the heightened demand for imports and restart of foreign loan repayments upon completion of the External Debt Restructuring (EDR). The rupee is expected to appreciate up to Rs.295 in the first half of the year, as the higher taxes eat into the rising consumer demand in the short term, more..

May 16 (Island) Lankan writer VV Sugi Ganeshananthan�s novel Brotherless Night has won the 2024 Carol Shields Prize for Fiction. She was awarded a cash prize of $150,000. All the shortlisted authors were also awarded an additional $12,500. This is the richest English-language literary prize in the world for women and non-binary authors. The other four shortlisted authors were: Eleanor Catton for Birnam Wood, Claudia Dey for Daughter, Kim Coleman Foote for Coleman Hill and more..

May 16 (DN) The Sri Lanka men�s volleyball team made history by sweeping past Iran in a decisive 3-0 victory at the on-going CAVA Nations League Volleyball Tournament in Islamabad, Pakistan yesterday. This landmark win marks the first time Sri Lanka has ever defeated Iran in international competition. Iran, a powerhouse in the volleyball world with a world ranking of 15, is known for its formidable presence on the court and regular appearances in the World Cup. more..

May 16 (DM) State Minister Premitha Bandara Tennakoon announced that SL is in the process of establishing a small arms ammunition manufacturing unit within the country. He said, �We are in discussion with India to set up a small arms manufacturing unit.� �What you have to understand is the Indian defence manufacturing arm has boomed during the last two decades. It is a model that we have to look into. We can take a lot from Indian model and nothing wrong in learning more..

May 16 (TM) In response to claims that the United States� (US) State Department is seeking to get involved in the process of the drafting of the new law concerning NGO, the National Secretariat for NGOs stressed that there is no such involvement, and that the US has merely provided its feedback regarding the law. Secretariat�s Director General (DG), Sanjeewa Wimalagunarathna, explained: more..

May 16 (DM) Examinations Commissioner General Amith Jayasundara said that it has been decided to award one mark each for questions No. 9 and 39 of the GCE O/L Exam 2023 (2024), Science Paper 1 following complaints received. He was addressing the media at the Examinations Dept yesterday. The analysing panel has decided to offer two marks for two questions of Multiple Choice Question (MCQ) paper of Science Paper 1 of the G.C.E O/L Exam, which concluded yesterday. more..

May 16 (TM) US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu said that it is important that Sri Lanka must have a functional truth and reconciliation programme in place. He also mentioned that it is expected from the leaders emerging from the upcoming Elections to make it a reality. He said that the US is ready to be a developing partner. Furthermore, Lu stated that the US encourages Sri Lanka to continue in the strengthening of bilateral relationships. more..

May 16 (DM) Following the approval of concessionary vehicle permits, the MPs across the political divide have asked for the extension of their one -million rupee insurance coverage to include their family members, a top source said yesterday. At the House Committee meeting held last Friday, MPs have asked for this benefit while insisting for concessionary vehicle permits for the second time. Currently, premium for MPs� insurance more..

May 16 (FT) Basil Rajapaksa�s idea of a snap Parliamentary election proceeds from the ruling party�s viewpoint that it has a better chance of survival while its partner Ranil holds office and controls the administration. There is no guarantee though, that if and when that Parliamentary election is held, Ranil won�t tell the country �Ok, now you�ve had your election for this year�, and press pause on the scheduled Prez election. That is almost exactly what happened in 1982. more..

May 16 (FT) The country is changing. Apartments and condominiums are popping up everywhere. Technology and markets are changing. Navigating the streets without Google maps seems unthinkable. Data consumed in a month 25 years ago is now consumed in a few hours. The world is changing. Stories about vehicles that are communicating our braking patterns back to the manufacturer and insurance companies do not seem like science fiction, though we know our cars more..

May 16 (DM) SJB Leader Sajith Premadasa has announced a ban on the Daily Mirror from covering any press briefings held by the SJB. The decision comes in the wake of accusations made by Premadasa, who criticized the publication for what he deemed as a mockery of journalism. Accusing the Daily Mirror of deliberately misquoting a statement made by him on banning liqour licenses in the country, Premadasa expressed his frustration at the handling of his statements. more..

May 16 (CI) Fresh off qualification for the Women's T20 World Cup, Sri Lanka will host West Indies for three ODIs and three T20Is from June 15-28. For SL, the tour will primarily serve as preparation for the T20 Asia Cup, also to be hosted in SL, starting July 20. It will be their second bilateral T20I series this year, following their successful tour of South Africa across March and April. They are also set to tour Ireland in August. As for West Indies, they just concluded a month-long tour of Pakistan more..

May 16 (EN) SL will see more than 50% reduction in army cadres by 2030 and will strengthen the navy to safeguard the country�s Exclusive Economic Zone (EEZ) in the Indian Ocean, State Defence Minister Pramitha Bandara Tennakoon said. SL is in the process of reducing a bloated state sector which is estimated at around 1.5 million in a country with 22 million population. Tri forces and police account for nearly 30% of the total more..

May 16 (DM) 13th Asian Senior Netball Championship 2024 has been postponed by a few weeks, Netball Asia (NA) President, Lakshmi Victoria said today. The 16-nation tournament, conducted by NA and the Saudi Arabian Netball Association (SANA) was set to be held in Saudi Arabia from Sept 28 to Oct 6. Victoria further said that the tournament will be put off by at least three weeks following a request by the SANA. She said that they cannot put off the event for more than three weeks more..

May 16 (AD) Retired Special Grade officer of the SL Administrative Service (SLAS), Chulananda Perera has been appointed as the first-ever Sports Ombudsman of SL by the Minister of Sports Harin Fernando. In his new role, Mr. Perera is tasked with conducting independent and impartial inquiries into complaints from individuals aggrieved by any decision or action of any registered national sports association or federation. Issuing a statement, Sports Ministry stated that aggrieved parties more..

May 16 (TM) SL Young Journalists' Association (SLYJA) urged the Human Rights Commission of SL (HRCSL) to initiate an urgent investigation into the actions of the Police and its officers for disrupting and arresting a group of people who allegedly distributed kanji (porridge) in memory of their deceased relatives in Sampur. Writing a letter to the HRCSL Chairperson L.T.B. Dehideniya, the SLYJA President Tharindu Jayawardhana more..

May 16 (AD) The Colombo District Court today rejected the petition filed by Duminda Dissanayake seeking an interim injunction preventing Minister Wijeyadasa Rajapakshe from functioning as the Chairman and Keerthi Udawatta as Acting General Secretary of the SLFP. Accordingly, the Colombo District Court refused to issue an injunction restraining the party, its organizations and officials from acting on the decision taken to appoint Minister Wijayadasa Rajapakshe as the Chairman and more..

May 16 (AD) The schoolgirl, who was critically injured in the tragic accident during the recent Fox Hill Super Cross 2024 motorsport racing championship at Diyatalawa, has succumbed to injuries while receiving treatment in hospital last night, increasing the death toll from the fatal crash to 8. She had been receiving treatment in the ICU of Badulla General Hospital. The body of the 16-year-old girl, Sathdarani Kavishka, who was a resident of Galedanda area in Diyatalawa police area, more..

May 16 (FT) Human Rights Commission of SL (HRCSL) in a letter to the Attorney General this week has stressed that it is imperative that an independent and impartial criminal investigation be launched into the alleged enforced disappearance of Kapila Kumara De Silva, a resident of Horowpathana, Anuradhapura in March 2024. The HRCSL urged the Attorney General to review the evidence and allegations and decide whether a separate criminal inquiry should be initiated more..