March 03, Colombo (LNW): Sri Lanka has petitioned a New York federal court for a five-month postponement of a lawsuit initiated by a bondholder concerning the nation’s significant debt default.

The request aims to allow more time for negotiations with private creditors.

The lawsuit, filed by Hamilton Reserve Bank Ltd. in July 2022, demands full repayment of over $250 million in Sri Lanka’s dollar bond, which matured that same month.

Hamilton Reserve Bank claims ownership of more than 25% of the bonds, potentially granting it veto power over any proposed modifications to the debt terms.

In response to Sri Lanka’s recent request for an extension of the lawsuit delay, Hamilton Reserve objected, alleging that the country has withheld crucial negotiation details despite repeated inquiries from the bank.

Sri Lanka has expressed a commitment to addressing its obligations to private creditors as part of its efforts to expedite a comprehensive debt restructuring plan and emerge from sovereign default, as stated by the foreign minister in a recent interview with Bloomberg.

The legal matter is documented under Hamilton Reserve Bank v. Sri Lanka, case number 22-cv-5199, in the US District Court for the Southern District of New York (Manhattan).

1. President Ranil Wickremesinghe underscores the pressing need to address the challenges facing the agricultural sector, affirming a commitment to prioritise the concerns of farmers in the nation’s rebuilding efforts: Emphasising the imperative of fostering a competitive agricultural industry geared towards crop exportation, the President announced plans for the imminent launch of the country’s most extensive agricultural modernisation initiative.
   
2. Opposition Leader Sajith Premadasa says the Sri Lankan school children must be taught the Constitution which details the three main pillars of democracy, the legislature, the executive and the judiciary, how power is divided, the checks and balances, and fundamental rights: adds the 22 million population of the country should also be made aware of the above.
   
3. Former JVP activist Dr. Lionel Bopage responds to a statement by Minister Prasanna Ranatunga, denouncing it as potentially misleading to younger generations: criticises the historical falsehoods perpetuated by politicians, citing the ‘Black July Riots’ of 1983 as an example: recounts personal experiences during the riots, witnessing atrocities against Tamils and detailing the complicity of government figures: adds the need for accountability and urges SL to confront its past for a more just and unified future: Previously, Ranatunga accused the JVP of inciting the Black July Riots.
   
4. All-Ceylon Restaurant Owners’ Association (ACROA) increases prices due to rising food production costs: Plain tea up by Rs. 5, milk tea by Rs. 10. Rice and curry packets up by Rs. 25, while Kottu and Fried Rice rise by Rs. 50: ACROA promises adjustments with future price changes.
   
5. Additional Secretary to the Health Ministry Dr. Saman Rathnayake, who was arrested and remanded in the medicine procurement scandal, intends to provide a confidential statement in court: Rathnayake’s arrest followed a seven-hour interrogation by the CID: Despite being remanded until March 14, he will deliver his statement on March 4.
   
6. The Western Province Education Department suspended ongoing government school term test examinations due to reports of leaked Mathematics and English question papers: This action was taken following confirmation of the leak, and the department has filed a complaint with the Criminal Investigation Department for investigation.
   
7. Russian missile cruiser Varyag docks in Colombo port, greeted with naval courtesies: The 187m vessel, with 529 crew members, led by Flag Officer Velichko Anatoly Vasicievich and Commanding Officer Glushakov Roman Nikolaevich, visits Sri Lanka: Planned meetings with Rear Admiral Saman Perera and local exploration programmes are scheduled: The cruiser will restock essential supplies during its stay until March 4, before continuing its mission.
   
8. Sri Lanka expresses deep concern over loss of life in Gaza, urges thorough investigation: Calls for ending Gaza blockade to provide vital aid to civilians: Initiates “Children of Gaza Fund” to aid victims, pledges USD one million through UN agencies: Supports sustainable political resolution for an independent State of Palestine while emphasising Israel’s security.
   
9. Prominent contributors to ‘Ravaya’ newspaper initiate legal action over printing cessation: Plaintiffs, including notable Sri Lankan figures, allege breach of trust by the newspaper’s officials: Legal recourse sought to protect the rights of contributors during 2013/2014 period.
   
10. Agriculture Minister Mahinda Amaraweera says the dollar has surged against the rupee, prompting efforts by farmers and foreign employers to stabilise it: highlights the record rice harvest and the empowerment of farmers in setting prices, particularly in Keeri Samba cultivation.

March 03, Colombo (LNW): The Western Province Education Department has announced the suspension of ongoing government school term test examinations following reports of leaked Mathematics and English question papers.

The department confirmed the suspension after receiving information about the leak and has lodged a complaint with the Criminal Investigation Department (CID) for further investigation.

March 03, Colombo (LNW): The Russian Pacific Fleet’s missile cruiser Varyag has docked at the port of Colombo in Sri Lanka, the Sri Lanka Navy reported.

The arrival of the 187-meter-long vessel, serving as a Missile Cruiser with a crew of 529, was met with traditional naval courtesies.

The ship’s Flag Officer, Captain 1st Rank Velichko Anatoly Vasicievich, and Commanding Officer, Captain 2nd Rank Glushakov Roman Nikolaevich, lead the delegation.

During their visit, the ship’s officials are scheduled to meet with Rear Admiral Saman Perera, the Commander of the Western Naval Area.

Additionally, various programmes are planned by the Sri Lanka Navy to foster goodwill and enable the crew to explore local attractions.

The Russian cruiser will utilise its stay in Colombo to replenish essential supplies such as water and fuel.

The ship’s welcome ceremony saw the presence of officials from the Russian embassy, Sri Lanka’s naval forces, and port services personnel.

Following its port call, the Varyag will remain in Colombo until March 4 before continuing its designated missions as part of its extended deployment.

March 03, Colombo (LNW): Additional Secretary to the Ministry of Health, Dr. Saman Rathnayake, who was arrested and remanded in connection with the medicine procurement scandal, expressed his willingness to provide a confidential statement during a court hearing yesterday (02).

The case pertaining to the procurement, supply, and distribution of the controversial medicine was addressed in court yesterday.

The Criminal Investigation Department (CID) arrested Rathnayake yesterday when he presented himself to the CID for questioning.

Following over seven hours of interrogation, the Additional Secretary was taken into custody. Earlier yesterday, the court issued an order remanding Rathnayake until March 14, based on the submissions made by Deputy Solicitor General Lakmini Girihagama at the Maligakanda Magistrate’s Court.

However, Rathnayake, through his legal representative, informed the court of his intention to provide a confidential statement before the Magistrate. The Magistrate granted permission for this request and scheduled Rathnayake to appear in court on March 4 to deliver the confidential statement. Consequently, he will remain remanded until March 4.

During today’s court session, Deputy Solicitor General Girihagama informed the court that Dr. Saman Ratnayake, the 10th suspect in the case, was arrested for misappropriating government funds.

Investigations revealed that Rathnayake, who possessed a thorough understanding of the emergency procurement process under the Indian Credit Line, misused government funds to procure the controversial medicines.

It was revealed that Rathnayake, along with ex Health Minister Keheliya Rambukwella, orchestrated a fabricated medicine shortage using counterfeit cabinet papers to exploit the emergency procurement process.

This fraudulent act was carried out with dishonest intentions.

A paper submitted to the Cabinet on September 26, 2022, warned of a critical shortage of 182 medicines in the country. However, upon verification, no record of these 182 medicines was found.

The following day, Rathnayake instructed former Secretary of the Ministry of Health Janaka Sri Chandragupta to initiate an emergency procurement process for 285 medicines based on the fabricated emergency situation.

Deputy Solicitor General Girihagama emphasised that Rathnayake’s actions led to the misappropriation of Rs. 2 billion of government funds.

March 03, Colombo (LNW): Maldives’ national carrier ‘Maldivian Airlines’ has unveiled plans to introduce a new flight route to Bandaranaike International Airport (BIA) in Colombo, Sri Lanka, effective April 25, 2024.

This strategic move underscores Maldivian’s dedication to fostering connectivity between the Maldives and key global destinations, facilitating travel options for passengers, and fostering cultural and economic ties between the two nations.

Ibrahim Iyas, Managing Director of Maldivian, expressed enthusiasm for the launch, stating, “We eagerly anticipate serving Colombo, bridging the gap between the Maldives and Sri Lanka for both leisure and business travel. This expansion underscores our commitment to extending the reach of the Maldives internationally. We extend our gratitude to all authorities and partners involved in facilitating this new route.”

Maldivian has collaborated with Nawaloka Air Services Pvt Ltd in Sri Lanka to serve as the General Sales Agent (GSA) for the new route.

This partnership marks a significant milestone for travelers seeking seamless connectivity between the Maldives and Sri Lanka.

With its rich cultural heritage, diverse offerings, and thriving business landscape, Colombo presents an appealing addition to Maldivian’s expanding network of destinations.

The flights will operate on Thursdays and Saturdays with the following schedule (local times apply):

The airline has commenced ticket bookings for the new Colombo route through various sales channels, including its website, mobile application, and ticketing office, allowing travelers to plan and secure their trips in advance.

Maldivian will offer two weekly flights to Colombo, departing every Thursday and Saturday, catering to both leisure and business travelers.

Passengers will have the opportunity to connect to Maldivian’s extensive domestic network of 16 destinations seamlessly.

Eng. Athula Galketiya, Chairman of Airport and Aviation Services (Sri Lanka) (Pvt) Limited (AASL), expressed delight at the launch of scheduled flight operations by Maldivian, especially as Sri Lanka’s tourism industry rebounds.

He commended the collaborative efforts of airline partners, emphasizing their positive contribution to the aviation and tourism sectors in Sri Lanka.

For further inquiries, travelers can visit Maldivian’s official website at www.maldivian.aero or contact Nawaloka Air Services Pvt Ltd at +94 112 325 500, the General Sales Agent in Sri Lanka.

March 03, Colombo (LNW): In response to significant escalations in food production expenses, the All-Ceylon Restaurant Owners’ Association (ACROA) has officially declared price adjustments for several popular menu items, effective as of last night.

Notably, the prices for a cup of plain tea have risen by Rs. 5, while a cup of milk tea now reflects an increase of Rs. 10.

Moreover, patrons can expect a Rs. 25 increment in the cost of a packet of rice and curry.

Similarly, the prices of popular dishes such as Kottu and Fried Rice have been raised by Rs. 50 each.

ACROA underscored its commitment to maintaining fair pricing standards and assures the public that corresponding concessions will be extended should there be any reductions in consumer goods prices.

March 03, Colombo (LNW): A group of individuals pivotal in the advancement of the local newspaper ‘Ravaya’ has issued a letter of demand indicating their intent to pursue legal recourse regarding attempts to cease the printing operations of Ravaya, published by Ravaya (Guarantee) Pvt. Ltd., and to liquidate its assets.

Prominent figures within Sri Lanka, instrumental in the progression of Ravaya, are poised as plaintiffs in this forthcoming litigation.

The defendants in this case include the newspaper’s chairman, esteemed senior journalist Victor Ivan, the current board of directors, and editor-in-chief Wimalanath Weeraratne, among others.

The legal action is predicated on safeguarding the rights of 476 individuals who contributed significantly to Ravaya’s evolution during the 2013/2014 period.

The plaintiffs assert that the defendants’ alleged breach of trust agreement, pertaining to the advancement of Ravaya’s publication standards, necessitates the pursuit of legal remedies.

March 03, Colombo (LNW): Sri Lanka has expressed profound concern over the tragic loss of over one hundred lives among those awaiting aid in Gaza and has added its voice to the demand for a thorough investigation into the incident.

In a statement issued on Saturday (02), the Ministry of Foreign Affairs underscored the urgent necessity to terminate the blockade imposed on Gaza, which has severely constrained its civilian populace, including women and children, from accessing essential provisions such as food, water, medication, electricity, and fuel.

Emphasising its stance for an immediate ceasefire and unimpeded humanitarian passage to Gaza to alleviate the plight of civilians, Sri Lanka reiterated its call.

Moreover, the Foreign Affairs Ministry disclosed that the Sri Lankan Government has sanctioned the establishment of the “Children of Gaza Fund,” an empathetic initiative proposed by the President, aimed at extending assistance to Gaza’s victims.

Additionally, Sri Lanka has committed to donate USD one million through UN agencies to offer vital support to Gaza’s victims.

Sri Lanka aligns itself with the global demand for a sustainable political resolution to the conflict and stresses the importance of establishing an independent and sovereign State of Palestine, based on the 1967 borders as outlined in relevant UN resolutions.

Furthermore, Sri Lanka emphasises the significance of ensuring Israel’s security, as articulated by the Ministry of Foreign Affairs.