President Ranil Wickremesinghe says none of the current presidential candidates plan to abolish executive powers: emphasises the importance of these powers in economic development and conflict resolution: discusses the disconnect between the Executive President and the government during his tenure: stresses the need to strengthen parliament’s role while reaffirming the commitment to holding the presidential election.
Sources suggest seven opposition members would join the government on May 31, but recent developments indicate the defections may occur during a parliamentary session: Two scenarios are proposed: either three MPs will defect on June 4 or individually on June 3, 4, and 5: A senior politician is expected to switch allegiance: Given past shifts, certainty is elusive until the last moment: Nonetheless, government sources express confidence in the impending defections, leaving the media to observe the situation unfold.
The Appeal Court issues a notice against former President Maithripala Sirisena over contempt of court allegations: The notice follows a petition by an SLFP member claiming Sirisena violated a court order by acting as SLFP Chairman: The court ordered the petitioner to serve notice to Sirisena to confirm the facts.
Finance State Minister Ranjith Siyambalapitiya discloses five companies illegally imported gold into Sri Lanka this year, resulting in fines totaling Rs. 1,243 mn: One company faces a penalty of Rs. 179 mn: warns licenced importers to cease such activities immediately: Efforts to stabilise state income are ongoing, addressing revenue loss loopholes: The government remains resolute despite mafia pressure, progressing to the second phase of combating illegal imports, following a special gazette notification issued in March last year.
Sri Lanka’s Trade Minister and the Iraqi envoy met to plan the upcoming economic forum: discuss enhancing bilateral ties, Sri Lanka’s economic situation, and potential business opportunities in Iraq: Talks also included reopening a Sri Lankan Embassy in Iraq and improving trade routes.
Thailand’s cabinet approves visa-free entry for Sri Lankan tourists for up to 60 days starting June 1, 2024: The move aims to boost tourism and was proposed by the Foreign Ministry to attract more international visitors.
A Kotelawala Defence University lecturer, Dr. Punsara Amarasinghe, was arrested by the TID for allegedly making irresponsible statements about national security and community issues: He claimed in a televised interview that four Sri Lankans arrested in India for ISIS links were on a list of extremists from the 2019 Easter Sunday attacks, criticised law enforcement for inadequate monitoring, and made several inaccurate statements about religious extremists and legal cases: He was later granted bail by the Fort Magistrate’s Court.
A group of Presidents’ Counsels and members of the Bar Association of Sri Lanka demand accountability for alleged misconduct related to a Japan International Cooperation Agency (JICA) project: insist on suspending implicated individuals pending inquiry by a five-member committee: The letter stresses impartial investigation and adherence to professional ethics to maintain credibility and trust.
Sri Lankan filmmaker Isuru Gunathilake has been honoured with the award for ‘Best Dance Film’ at the World Film Festival in Cannes for his film “Sheysha“: The film, directed by Gunathilake and written by Samantha Kumara Gamage, explores Sri Lanka’s traditional dance and the intricate relationship between a father and son.
Sports Minister Harin Fernando suspends several national sports federations – Sri Lanka Cycling Federation, the Sri Lanka Rugby Federation, the Sri Lanka Automobile Federation, and the Sri Lanka Netball Federation – and appointed Professor (Rear Admiral) Shemal Fernando to oversee their elections: The Gazette notification cites Sections 32 and 33 of the Sports Law for the temporary suspension: No interim committees will be appointed, ensuring proper governance until new office bearers are elected.
May 30, Colombo (LNW): The much awaited Duty Free Zone within the Colombo Port City project is nearing completion, the Department of Government Information announced.
State Minister for Investment Promotion, Dilum Amunugama, recently engaged in an observation tour of the site to assess progress and address any existing challenges.
The terminal, which will house the Duty Free zone, is currently in its final stages of construction.Unlike traditional airport duty-free shops, this facility will cater to a broader audience.
Individuals who do not purchase goods at the airport will now have the opportunity to shop within the Colombo Port City, directly related to their passports.
However the Colombo Port City duty-free shopping complex set to be opened in April this year has come under extensive scrutiny of the Committee on Public Finance (COPF) at its meeting held recently
The Committee has assessed operational procedures of the duty free shopping complex, its feasibility and potential consequences and directed to conduct a comprehensive study to evaluate the potential effects on local businesses and the taxation framework within Sri Lanka.
Singapore-owned omnichannel retailer, One World Duty Free (ODF), and Port City Colombo have signed two agreements to operate the duty-free shopping complex.
The partnership was underscored with the formalisation of two critical agreements: an Authorised Person Agreement between ODF and the Commission and a lease agreement between ODF and CHEC Port City Colombo Ltd (CPCC).
However the Department of Fiscal Policy (DoFP) has to evaluate and guide the design of all tax incentives, including those based on the Strategic Development Project Act and the Port City Act, Finance Ministry sources said.
Preparing the necessary structures, including data sharing protocols and legal documents that assign authority to the DoFP will take time, it was stated.
There was to be a US$5,000 allowance for returning Sri Lankans and any amount for foreigners, according to concessions gazetted on May 29, 2023.
COPF chaired by Dr. Harsha De Silva MP, summoned officials on the opening of a duty-free shopping mall soon in Colombo’s Port City.
The committee stressed the need for the Investment Promotion Ministry Secretary’s intervention to resolve the issues promptly.
The Attorney General and the Port City Economic Commission have submitted different viewpoints regarding the legal framework governing the proposed duty-free shopping mall.
Acting Secretary of the Ministry of Investment Promotion Anoja Herath told the committee that draft regulations relating to duty-free shopping malls had been submitted to the cabinet for review and approval.
May 30, Colombo (LNW): The overall land prices in the Western Province increased by 7.8% compared to the previous year, according to the 2024 Western Province Land Price Index (LPI), developed by LankaPropertyWeb (LPW).
The Land Price Index (LPI), updated annually, monitors the trends in asking price values of lands for sale across all three districts of the Western Province – Gampaha, Kalutara, and Colombo.
Based on the Index findings, land prices in Gampaha District surged by 13% from the preceding year, while Kalutara witnessed an 8% rise. In the Colombo district (excluding Colombo 1-15), a growth of 8% was observed, with Colombo 1-15 explicitly marking a 2.3% increase.
The increase in the land prices in all three districts of the Western Province reverses last year’s decline in the Gampaha and Kalutara districts. In contrast, the Colombo district (including Colombo city) has shown a consecutive price increase.
In Gampaha District, land prices have experienced an average increase of 13% in 2024 compared to the previous year.
Variations in land prices have been observed across various cities. Leading the surge in prices are Negombo, Ragama, and Kadawatha, which have emerged as frontrunners with substantial escalations.
Negombo, in particular, boasts an impressive 34% increase, underscoring its growing prominence as a desirable living and investment destination.
Similarly, Ragama showcased a commendable 27% increase, attracting savvy real estate investors with its promising prospects, thus contributing to the overall growth and appeal of the Gampaha region.
In Kalutara, land prices have experienced an average increase of 8% in 2024. Land price changes have been observed in critical areas, showcasing the region’s vibrant real estate landscape. Ingiriya stands out with an exceptional 27% surge, accompanied by a growth of 500% from Q1 2019 to Q1 2024, underscoring its potential as a promising investment destination and a testament to the region’s growth trajectory.
Similarly, Panadura reflects buoyant market sentiment with a noteworthy 27% rise, reaffirming its status as a thriving locale and further bolstering the attractiveness of the Kalutara district to investors and developers alike.
Colombo 1-15 in the most recent period analysed (2023-2024), land prices rose by 2.30%, highlighting sustained growth. Having demonstrated continuous price growth from 2018 to 2021, Colombo’s 1-15 prices experienced a -2.33% dip in 2022; however, they rebounded in the following two years.
These fluctuations reflect the dynamic nature of Colombo 1-15’s real estate market, shaped by economic, social, and regulatory factors while maintaining appeal for long-term investors.
In other areas of Colombo in Colombo District (apart from Colombo 1-15), land prices have experienced an average 8% increase in 2024. Specific areas have witnessed significant movements in land prices, reflecting the varied nature of the district’s real estate market.
May 30, Colombo (LNW): Dairy giant Fonterra’s “full or partial divestment” of its consumer business in Sri Lanka received strong buyer interest in the move towards a “step-change in strategic direction” for the company to prioritize its dairy s production. Miles Hurrell, CEO of Fonterra disclosed.
Fonterra will now appoint advisors to assist with analyzing divestment options, for which it seeks shareholder support.
“We recognize a divestment of this scale would be significant for Fonterra. Throughout this process we will be considering how best to maximize overall returns to our farmer shareholders and unit holders,” says Hurrell.
“The choices we make when considering divestment options will be driven by a clear-eyed view of the best value-creating pathway for the co-op, both in terms of the potential proceeds from a sale and the ability for Fonterra to generate consistent economic returns over the long-term.”
Fonterra, which is selling its Sri Lanka business, says it has received “a high volume of interest” from potential buyers for its consumer and associated businesses.
“It’s still early days in this process, and we commit to providing farmer shareholders, unit holders, our people and the market updated on new developments as they occur,’ says Fonterra chief executive Miles Hurrell.
“We are also progressing work on our updated strategy and expect to share further detail over the coming months,” says Mr Hurrell.
Earlier this month, the co-op announced plans to divest, either fully or partially, its consumer business that includes iconic brands like Anchor, Mainland, Kapiti and Perfect Italiano.
The consumer and associated businesses that are being put on the block – which include Fonterra Oceania and Fonterra Sri Lanka – collectively utilised approximately 15% of the co-op’s total milk solids and represented approximately 19% of Fonterra’s group operating earnings in the first half of the 2024 financial year.
Hurrell provided an update on the divestment plan during its third quarter result announcement this morning.
“Following our announcement earlier this month of a step-change in our strategic direction, we have received a high volume of interest from parties looking to be involved in the potential divestment of our Consumer and associated businesses,” he says.
Meanwhile Fonterra announced profit after tax from continuing operations of $1 billion, up $20 million from last year or equivalent to 61c per share.
This result is driven by continued strong earnings across all three of the co-op’s product channels.Hurrell says the co-op’s Food service and Consumer channels had a strong third quarter with a lift in earnings compared to the same time last year.
May 30, Colombo (LNW): With the presidential election approaching, the political climate in Sri Lanka is becoming increasingly unpredictable, mirroring the fluctuating weather these days.
However, recent developments have altered this narrative.
The latest information suggests that the defection will occur on a day when Parliament is in session.
There are two prevailing scenarios regarding how this transition will unfold.
One version suggests that on June 4, three MPs from the Samagi Jana Balawegaya (SJB) will cross over to the government.
Alternatively, another account posits that these defections will occur individually on June 3, 4, and 5.
Notably, there is a senior politician among those expected to switch allegiance, according to sources.
Given the history of switching party affiliations over the past two years, it is challenging to predict with certainty until the final moment.
Notwithstanding, government sources remain confident that this time the defections will materialise, and the media, therefore, is compelled to wait and see how the situation develops.
May 30, Colombo (LNW): A lecturer at the Kotelawala Defence University, was apprehended by the Terrorist Investigation Division (TID) for allegedly making irresponsible statements on national security and sensitive community issues, Police said.
The arrestee, Dr. Punsara Amarasinghe, was accused of making controversial claims about four Sri Lankans recently arrested in India for suspected links to to ISIS during a televised interview on May 25.
Amarasinghe alleged that these individuals were on a list of 300 to 400 radical extremists identified by the commission investigating the 2019 Easter Sunday attacks.
He criticised Sri Lankan law enforcement and intelligence agencies for failing to monitor these suspects adequately.
Additionally, Dr. Amarasinghe incorrectly stated that a 2020 ban on certain textbooks at Madrasas, which purportedly distorted religious teachings, had been lifted in 2023.
He later admitted this was a mistake.
He also made unsubstantiated claims about fundamentalist preachers named Zakir Hussain and PJ, and inaccurately reported on the legal status of an individual named Aadhil X, arrested in 2019, stating he had been acquitted when the case was still ongoing.
The police described Dr. Amarasinghe’s remarks as misleading to the public.
After recording a statement, he was arrested by the TID on Wednesday. Subsequently, he was granted bail by the Fort Magistrate’s Court.
May 30, Colombo (LNW): Sri Lankan filmmaker Isuru Gunathilake has been honoured with the award for ‘Best Dance Film’ at the World Film Festival in Cannes for his film “Sheysha“.
“Sheysha,” directed by Gunathilake and written by Samantha Kumara Gamage, explores Sri Lanka’s traditional dance and the intricate relationship between a father and son.
The film portrays a ‘Gurunnanse‘ (a master of dance) and his son striving to preserve their art in a society marred by political and cultural corruption.
The narrative highlights their struggle to maintain a unique and endangered art form.
Gunathilake is no stranger to accolades. His 2020 short film, “The Vultures,” garnered the Human Rights Prize at the Agenda 14 Short Film Festival and received both a Merit Award and a Jury Award for Best Actor at the ninth Youth Film Festival.
It was also officially selected for the Jaffna International Cinema Festival.
Additionally, he has directed other notable short films including “The Circle of Life” and “The Dummy.”
The World Film Festival in Cannes, themed “Remember The Future,” conducts both monthly and annual competitions across various genres for international filmmakers.
The festival, an IMDb qualifier, celebrates feature films, short films, independent films, documentaries, experimental films, animated films, music videos, screenwriters, songwriters, singers, bands, commercials, and Web/TV series, among others.
May 30, Colombo (LNW): Trade Minister Nalin Fernando met with the Iraqi envoy, Mohammed Obaid Jabur Zahir Al-Masoudi, to discuss the upcoming ninth session of the Iraq-Sri Lanka Economic and Technical Cooperation forum, scheduled to take place in Sri Lanka this November.
This forum is expected to significantly enhance bilateral relations between the two nations, according to a statement from the Ministry.
During the meeting, Minister Fernando briefed the envoy on Sri Lanka’s current economic situation and emphasised the need for international support beyond just financial assistance, highlighting the importance of cooperation across various sectors.
The Iraqi envoy encouraged Sri Lankan investors to explore business opportunities in Baghdad and Kurdistan, noting that Iraq is a major importer of Sri Lankan tea and home to approximately 150,000 Sri Lankan workers.
The discussion also touched on the potential re-establishment of a Sri Lankan Embassy in Iraq to address issues such as visa processing and taxation on goods.
This initiative would be carried out in collaboration with the Ministry of Foreign Affairs.
Additionally, the envoy highlighted the advantages of direct shipping routes, which would facilitate faster and more convenient trade between Sri Lanka, Europe, and Middle Eastern countries.
The meeting was attended by the Secretary to the Ministry of Commerce, A.M.P.M.B. Athapaththu, and officials from the Department of Commerce.
May 30, Colombo (LNW): The certificate awarding ceremony for the DP Education IT Campus Programme in Hambantota District is scheduled for June.
This event follows successful ceremonies previously held in Matara and Kurunegala, and is expected to attract over 10,000 participants.
Due to the large number of attendees, finding a suitable venue in Hambantota that could accommodate seating for 10,000 people, along with a stage and tent, proved challenging.
Consequently, a decision was reached to host the event at the Angunakolapalassa Public Stadium.
The ceremony will commence at 08:30 AM on June 9, under the leadership of Dhammika Perera, the founder of DP Education.
The DP Education IT Campus Programme offers a comprehensive computer language course free of charge, valued at Rs. 2.5 million.
At this event, certificates worth a total of Rs. 4 billion will be awarded to students who have successfully completed various stages of the course.
May 30, Colombo (LNW): A group of ten Presidents’ Counsels and 80 members of the Bar Association of Sri Lanka (BASL) have submitted a letter to the BASL Executive Committee and a five-member Inquiry Committee.
They insist that any individual implicated in misconduct related to the Japan International Cooperation Agency (JICA) and the BASL should be required to step down from their roles in the association if they do not voluntarily resign.
The letter asserts that this action is necessary pending the completion and final determination of the inquiry.
On 18 May, the BASL established a five-member committee consisting of Dr. K. Kanag-Isvaran PC, Dr. Faisz Musthapha PC, Ikram Mohamed PC, Rienzie Arsekularatne PC, and Geoffrey Alagaratnam PC.
This committee was tasked with investigating allegations concerning a BASL project funded by JICA aimed at promoting a transparent and competitive business environment (anti-corruption) in Sri Lanka.
The letter highlights the need for a thorough investigation to ensure full responsibility and accountability.
It stresses that recommendations should be impartial and accurately reflect the facts and findings, irrespective of the individuals involved.
To maintain credibility and public trust, the letter notes the importance of providing detailed and well-reasoned findings for each person allegedly involved.
This is essential for the association to fulfil its duties to the Bar, the public, and the country.
Furthermore, the letter underscores the necessity of considering any potential breaches of professional ethics as per the Supreme Court (Conduct and Etiquette for Attorneys-at-Law) Rules 1988 by the individuals involved.
Such consideration is vital for the Bar Council and its members to determine the appropriate measures to hold those individuals accountable.
