Monthly Archives: March 2016

Beneficiaries should decide fate of prefab houses

Beneficiaries should decide fate of prefab houses

Sri Lankan President Mithripala Sirisena has said that the fate of ArcelorMittal’s project to build 65,000 pre-fabricated houses for the war-displaced in the Tamil-majority Northern Province, should be decided by the beneficiaries and not by the Central Minister of Rehabilitation D.M. Swaminathan, or the Chief …

Economic Growth through Crisis

Economic Growth through Crisis

The Sri Lankan economy appears to exist in a system that can evolve only through crisis. Optimistic policymakers, predicting that the country’s economic trajectory would self-correct, received a collective wake-up call in February with a sovereign rating downgrade by Fitch, even as the country made …

Stock Exchange comes to a standstill due to Power Cut

Stock Exchange comes to a standstill due to Power Cut

Trading at the Colombo Stock Exchange had to be halted this morning due to the power cut which affected the World Trade Centre. Trade stopped at 9.57 am at the CSE. Trading recommenced at around 10.15 a.m. Generators at the WTC were also not properly …

Who Stole $100 Million From Bangladesh’s Account at the New York Fed?

Who Stole $100 Million From Bangladesh’s Account at the New York Fed?

Someone using official codes stole $100 million from Bangladesh’s account at the New York Fed over a recent weekend. Authorities in four countries are still piecing together what happened. The breach funneled $81 million from the country’s account at the New York Federal Reserve to …

Release political prisoners and repeal PTA

Release political prisoners and repeal PTA

The chairman of the US House Committee on Foreign Affairs has written to Secretary of State John Kerry, urging the US government to press Sri Lanka to release Tamil political detainees, repeal the PTA and return land held by the military. Chairman Edward Royce said …

As the War was over, steps should have been taken for disarmament,

As the War was over, steps should have been taken for disarmament,

The Chief Minister of the Northern Province, C.V. Wigneswaran, appealed to the Government to reconsider its plan to build prefabricated houses for displaced persons. Speaking at a function on 12 March in Kopay to mark the handing over of 700 acres of land to civilians, Mr. Wigneswaran appealed to …

Tamil people still faced military occupation

Tamil people still faced military occupation

Speaking as the representative of the Integrated Youth Empowerment–Common Initiative Group Northern Province Councillor Ananthi Sasitharan told the UN Human Rights Council that the  state is still practising “serious discrimination” in the north and east of the country against Tamils, and continues its military occupation …

With Civil War Behind, Business Booms In Tiny Sri Lanka

With Civil War Behind, Business Booms In Tiny Sri Lanka

Few island nations have had better pre-conditions for economic and social development than Sri Lanka, which investors recognize is ripe for growth and tourism. The country has a high literacy rate and free healthcare. But none has suffered as long as Sri Lanka from such …

Accord citizenship to Sri Lankan Tamils living in camps

Accord citizenship to Sri Lankan Tamils living in camps

The State government should initiate steps to accord citizenship to the inmates of Sri Lankan refugee camps, said R. Murali of the People’s Union for Civil Liberties (PUCL) here on Saturday. Releasing the report of a fact-finding team that visited the Uchapatti refugee camp near …

Is China Encircling India?

Is China Encircling India?

Sri Lanka has granted permission for China to build a vast “port city” in the island’s capital, despite concerns the ambitious project could be an environmental disaster. President Maithripala Sirisena had suspended the contentious $1.4bn plan to build on reclaimed land next to Colombo’s main …