Monthly Archives: September 2016

Sri Lanka pulls out of SAARC summit

Sri Lanka pulls out of SAARC summit

In another setback to Pakistan, Sri Lanka on Friday pulled out of 19th SAARC Summit in Islamabad, becoming the fifth country to do so after India expressed its inability to participate in the summit. “Sri Lanka regrets that the prevailing environment in the region is not …

Perpetual Treasuries profits up 434-pct

Perpetual Treasuries profits up 434-pct

Perpetual Treasuries Limited, a primary gilt dealership, connected the family of a controversial former Sri Lanka central bank governor, has made a profit of 5.1 billion rupees for the year to March 2016 up 434 percent from a year earlier, published data show. The firm …

Promoting labour rights

Promoting labour rights

The US Department of State, Bureau of Democracy, Human Rights and Labor (DRL) is to fund promoting labour rights in Sri Lanka. DRL announced an open competition for organizations interested in submitting applications for projects that support the policy objective of promoting internationally recognized labor rights. …

Political justice is not enough to rebuild Sri Lanka

Political justice is not enough to rebuild Sri Lanka

The civil war that raged for 26 years in Sri Lanka was always about more than political grievances. The politics were rooted in economic and social disenfranchisement of the Tamil minority by the Sinhala majority. A government policy adopted in the mid-1950s that declared Sinhala to be the …

Sri Lanka’s Troubling Turn

Sri Lanka’s Troubling Turn

In some ways, Sri Lanka is a model. After decades of civil strife and outright civil war, the Sri Lankan military did what hundreds of well-paid UN officials and diplomats could not: Return peace to the island. No sooner had the island nation’s military defeated …

Extremism will not prove anything

Extremism will not prove anything

Northern Provincial Council (NPC) Chairman C.V.K. Sivagnanam commenting on the Ezhuga Thamizh (Arise Tamils) procession said, there is nothing fresh in the demands that have been proposed or raised at the rally that was recently held in the North. “At this juncture such a rally …

Central Bank holds key policy interest rates

Central Bank holds key policy interest rates

Sri Lanka’s central bank held its key policy interest rates steady on Wednesday, a widely expected decision that analysts say suggested policy makers were keen to support a slowing economy even as they kept a tight leash on rampant credit growth. The Central Bank of …

No time frame for accord

No time frame for accord

India will not give a time frame for negotiating an Economic and Technical Coope­ration Agreement (ETCA) with Sri Lanka, visiting Indian Commerce Minister Nirmala Sitharaman said on Tuesday. She was referring to the controversial agreement that has been opposed by many Sri Lankan professionals because, …

Merchants will pay lower VAT

Merchants will pay lower VAT

Sri Lanka’s Finance Ministry says retail and wholesale merchants will have to pay a lower VAT payment than expected despite the rate hike from 11 to 15 percent. Under the proposed VAT amendment bill, the VAT will really be charged only on the revenue accumulated on …

Tamil people are not defeated

Tamil people are not defeated

Tamils from across the North-East participated in the Ezhuka Tamil rally (Rise Up Tamil) in Jaffna on 24 September, waving flags of the Tamil national colours of red and yellow. The main rally was held at Muttaveli with processions from Nallur and from the Jaffna University. Civil …