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The new face of “Percy Jackson”

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By: Kavodi Kulunumini

January 21, Colombo (LNW): As a die-hard fan of the novel it feels like a crime if the new series is left unviewed and unwatched. And this is the review.

First of all this is not the first silver screen adaptation done of the famous ‘Percy Jackson and the Olympians’ series; the New York Times bestselling fiction. The first adaptation with Logan Lerman portraying ‘Percy Jackson’, Alexandra Daddario playing ‘Annabeth Chase’ and Brandon T. Jackson taking on the role of ‘Grover Underwood’, the series was anticipated but at the same time criticized as the original hero is only 12 years of age in the actual fiction. But still with Chris Columbus partnering with Direction of the movie, it had a semblance of hope.

Nonetheless of the stellar cast and direction, the movies, both of them, the first one (2010) based loosely on (and using the term ‘loosely’ very lightly here) The Lighting Thief, the first book of the series and the second one (2013) based again loosely on ‘The Sea of Monsters’, the audience had inherently negative reaction which largely transpired due to how unfaithful the adaptation was to the adored fiction.

As a fan myself the movies despite some iconic moments and potential chemistry was disappointing. The mass audience reaction was much the same rating far less than average, even half of the supposed reception, the first one scoring 49% and the second one scoring 42% on Rotten Tomatoes after viewer’s voting and 47 and 39 on Metacritic respectively. It is safe to say the adaptation was not well received. Even the author of the series, Rick Riordan referred to as ‘Uncle Rick’ by the fandom unanimously has expressed his displeasure and disappointment of the adaptations on how they have deviated from the books specially in the second adaptation where they have ‘loosely’ merged the plots of the second and the fifth books and introducing the main villain way earlier than the actual fictional account. He also criticized how the production didn’t take much care for his role as the author of the series and how his opinions were largely limited and the input was not received. All in all the films despite the passable acting and special features were flops.

Thus, when this new anticipation of the ‘Percy Jackson and the Olympians’ TV series hosted by Disney Plus and having Rick Riordan in the writing unit, the fandom was in cahoots. Although the initial casting received some backslash on how the characters haven’t stayed true to their specific racial identities it was soon subdued by the hype and the excitement.

The new series has casted Walker Scobell who rose to fame with ‘Adam Project’ starring side by side Ryan Reynolds in the titular role of ‘Percy Jackson’, Leah Sava Jefferies as ‘Annabeth Chase’ and Aryan Simhadri as ‘Grover Underwood’. After special cast interviews the fandom collectively lost their minds at how similar the trio were to their characters’ personalities.

The initial backlash was also soon forgotten and the first two episodes of the series titled “I Accidentally vaporize my Pre-Algebra Teacher” and “I become Supreme Lord of the Bathroom” was met with such massive hype after its premiere on 19th  of December 2023. Especially given the fact that the episodes even stayed true to the chapter names in the actual fiction.

The trio of main cast were also avid fans of the book series and were true to the ages of the characters they portray which probably helped the production to be as accurate and authentic as it could possibly be minus few changes.

The entirety of the first season based on the first book of the novel consists of 08 episodes, 06 of which is already aired and received positive reviews from critics, who largely praised its faithfulness to the source material, the worldbuilding and the performances of the cast. Especially how young the main cast is they have managed to keep the viewers on their toes and gained the adoration of the most of the fandom at how they could act miles among big names such as Jessica Parker, Jason Mantzoukas, Megan Mullaby, Glynn Turmann, Virginia Kull, Suzanne Cryer, Adam Copeland and Lin Manuel Miranda. The stellar supporting cast as well as the brilliant new talents introduced such as Dior Goodjohn and Charlie Bushnell among the campers of ‘Camp Half Blood’ the series was definitely off to a successful start.

As of now, the TV series maintains a faithful viewer base and 96% rating in Rotten Tomatoes and an average rating of 7.4/10. Within the first six days alone, the series had 13.3 million viewers on Disney and Hulu platforms.

As a viewer, the series has an exceptional cast, each tapping into their characters with almost flawless accuracy, and phenomenal worldbuilding. The much fantasized places in the series, especially Camp Half-Blood was given the attention and accuracy of every readers’ imagination. Although it does at sometimes varies slightly from the book, the plot remains in a consistent arc of going higher and higher. The changes that had been made had not taken anything from the story that is being narrated but had instead add on to specific themes that TV series is actively promoting and the new changes had been exciting so far. But simultaneously the show still retain the spirit and the core essentials of the fiction. The heart of the PJO universe is very much intact.

Another thing that stood out was how the journey of Percy is shown in the show. To read it and imagine it within 377 pages is comparatively easier than putting it on screen for less than an hour per eight episodes. Each element can’t obviously be included. But the show has given such a thriving storytelling where the most anticipated moments and more is given in perfection. The character building is also quite fantastic in the show, perhaps if I dare say better than the book itself in some aspects. Especially in the case of Grover who inhibits the typical role of the best friend. The show has added more depth and analysis to the already awesomely written character and Aryan plays it like a professional.

Considering Percy and Annabeth as well, their dynamic is something that is infamous within the fandom and perhaps one of the most needed aspects of the book for the viewing audience. Walker and Leah although young retain their hilarious, heart-touching dynamic and their potentiality of a future together in a magnificent way.

All in all the new series so far is crushing it out there giving the fandom what they wanted for over a decade in its accuracy and glory. Given the positive reception it is easier to say that the series is worth the watch and as a fan myself I will say that you will not be disappointed.

Dairy industry suffers set back even after US aid to boost milk production

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By: Staff Writer

January 21, Colombo (LNW): Sri Lanka’s dairy industry is facing a major crisis, with around 14,000 small-scale farms shutting down and milk production declining sharply as revealed by the Committee on Public Accounts (COPA) in Parliament.

The country’s liquid milk production has dried up in the wake of US intervention to boost industry with a grant of US$27 million two years ago..  

While officials from the State Ministry of Livestock Department blamed the closures on animal theft, the MPS expressed skepticism.

They argued that other factors, such as the destruction of grasslands and land-related issues, likely played a more significant role.

The COPA emphasized the need for the Department of Animal Production and Health to maintain accurate and clear data on the industry. This data is crucial for understanding the root causes of the crisis and formulating effective policy responses.

Minister of Agriculture Mahinda Amaraweera, who also attended the meeting, acknowledged the decline in milk production received by Milco, the country’s largest dairy processor. He stressed the importance of implementing the Artificial Insemination Programme and formulating a National Policy on milk production to address the challenges facing the industry.

The death of 104 Australian goats imported for breeding raised concerns about animal care practices. COPA members urged the department to ensure proper care and management of imported livestock to prevent similar incidents in the future.

 The Diary industry in the verge of collapsing two years after U.S. and Sri Lanka signed a Memorandum of Understanding (MOU) with the Sri Lankan Department of Agriculture, for a $27 million project that aims to double the milk production of Sri Lankan dairy farmers participating in the U.S. Department of Agriculture’s “Food for Progress” initiative.

In close partnership with the Government of Sri Lanka, the project began in late 2017 and has already benefited 25,000 Sri Lankan dairy farmers, increasing their milk production by an average of 68 percent to date.

 An estimated 80,000 Sri Lankans will ultimately receive assistance from this program, as part of the United States’ continued efforts to support food security and economic growth in Sri Lanka.  After unforeseen delays including the COVID pandemic, the U.S. Embassy and the Sri Lankan Department of Agriculture finalized this partnership agreement . 

Ambassador Chung stated, “This $27 million contribution is a prime example of the United States’ multi-year commitment to promoting sustainable economic development in Sri Lanka. 

Food for Progress’ Market-Oriented Dairy Project partners with a U.S. non-profit organization called the International Executive Service Corps to help Sri Lankan farmers increase dairy production by providing them with the skills they need to improve farm operations and management.

It will also provide better access to financing, so farmers can expand their businesses and reach new markets.

Sri Lanka cinnamon farmers get GI-certification with IFC support

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By: Staff Writer

January 21, Colombo (LNW): Sri Lanka is implementing geographical indication (GI) for cinnamon, where the country has a 90 percent market share, with 45 farmers and processors being formally recognized in an initiative supported by Washington-based International Finance Corporation, palmation industry ministry sources said.

Sri Lanka cinnamon obtained GI certification in 2022 with support from the UN Industrial Development Organization (UNIDO). The certification provides a competitive advantage, helping increase market differentiation, and allowing for a premium price from the consumer.

“To better position and promote high quality exports of Ceylon Cinnamon, the IFC … recognized the first batch of Geographical Indication (GI) certified Ceylon Cinnamon growers in the country,” the IFC said in a statement.

“We want to better position this unique spice for the authentic, quality it brings by reaching across high-value global markets,” said Alejandro Alvarez de la Campa, Country Manager for IFC Sri Lanka and Maldives.

As part of the project, market research provider Euro monitor International carried out an assessment to identify high-value markets for Ceylon Cinnamon. Australia, Brazil, Germany, UK and the USA were identified as potential markets.

Sri Lanka is establishing a dedicated Department for Cinnamon Development to support the growth and exports of cinnamon. The new department was proposed by President Ranil Wickremesinghe and Plantation Industries Minister Ramesh Pathirana.

President Wickremesinghe highlighted cinnamon’s potential as a valuable economic crop during the 2023 budget announcement. He said that cinnamon is one of Sri Lanka’s most important export crops and that the new department will help to boost the industry and create jobs.

The Department for Cinnamon Development will be responsible for a range of activities, including: providing technical assistance to cinnamon producers, suppliers, and exporters, promoting research and development in the cinnamon industry,marketing cinnamon to new markets and  improving product quality and value through diversification.

The establishment of the Department for Cinnamon Development is a welcome move for the Sri Lankan cinnamon industry. The industry has been facing some challenges in recent years, including a decline in exports and competition from other countries. However, the new department is expected to help to address these challenges and boost the industry.

Ceylon cinnamon, which is native to Sri Lanka, is considered to be the finest quality cinnamon in the world. It is known for its delicate flavour and aroma. The new department will help to promote Ceylon cinnamon to new markets and ensure that it continues to be a valuable export crop for Sri Lanka.

EDB, Universities and Associations Join forces to boost ornamental fish exports

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By: Staff Writer

January 21, Colombo (LNW): Export Development Board (EDB), Sri Lankan Universities and Associations Joined forces to strengthen ornamental fish Industry and boost Exports.

Since its establishment, the Sri Lanka Tropical Fish Exporters’ Association (SLTFEA) has maintained close collaboration with essential stakeholders, including breeders, growers, suppliers, and diverse Governmental and non-Governmental entities, to ensure the protection of the industry.

Although Sri Lanka’s ornamental fish exports are currently limited in quantity and value compared to its total exports, there’s enormous untapped potential in this sector.

This potential is due to the country’s rich diversity of 111 ornamental fish species thriving in various aquatic environments, including freshwater, brackish, and marine habitats.

A collaborative effort led by the Export Development Board (EDB) alongside Sri Lankan Universities, The Tropical Ornamental Fish Association and Sri Lanka Ornamental Fish Farmers’ Association have organized a one-day workshop on 11th January 2024.

The main aim of this workshop was to help improve the export potential of ornamental fish, support grassroots development, and enhance the abilities of exporters.

This initial stage of the workshop is directed at esteemed universities such as Uwa Wellassa University in Passara, University of Ruhuna in Matara, Rajarata University of Sri Lanka in Anuradhapura, and University of Wayamba in Kurunegala.

The day-long program has covered several essential topics, discussing selected research findings. Areas of focus include live feed production, Best Management Practices (BMPs), high-density packaging, aquatic plants, aquascaping, and insights into export procedures.

Sri Lanka has gained recognition in the global market for exporting top-quality tank-bred fish and wild-caught marine species. In 2022, the Sri Lankan ornamental fish industry achieved impressive annual export revenue of USD 22 million.

While 70% of the overall production comprises freshwater fish species, there exists substantial room for further growth. Expanding production and enhancing quality standards are crucial to meet the current global market demands and standards.

The ornamental fish industry comprises various stakeholders, including fish breeders, farmers, out-growers, middlemen, collectors, and exporters from different parts of the island.

However, operating within a highly unpredictable business environment poses continuous challenges.

The major hurdles often encountered involve a lack of initial knowledge, lower production quality, and insufficient fish feed supplies.

 Overcoming these challenges is vital, as it aims to provide the necessary support to these stakeholders, enabling them to enter and thrive in the competitive international market.

A recent report shows that in 2022, the export value of ornamental fish reached Rs. 7,143 million. The market for these fish was valued at $ 6.8 billion in 2019 and it is estimated to grow significantly, reaching around $ 11.3 billion by 2025.

Central Bank to implement master plan phase II under NBFI consolidation

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By: Staff Writer

January 21, Colombo (LNW): Successful implementation of the Master plan for Consolidation of Non-Bank Financial Institutions (NBFIs) introduced by the Central Bank in the latter part of 2020 helped to build the confidence of the sector.

On the non-bank finance companies, the Central Bank will implement what it referred to as phase II of the master plan for consolidation of the sector, commencing 2024.

It said that under phase I of the master plan, which is nearing its completion, it watched seven transactions being fully completed, with another two underway.

While reiterating once again the importance of consolidation in the banking sector for higher scale, efficiency and strength, the Central Bank said it is going to implement the second phase of the consolidation master plan for the non-bank finance company sector in earnest.

However, the continued need for consolidation exists in the licensed finance company LFCs sector to ensure resilience.

Further, the Central Bank also intends to bring amendments to the existing regulatory framework of the sector, considering the current market developments. 

Therefore, Finance Business Act No. 42 of 2011 and Finance Leasing Act No. 56 of 2000, which together cover most of the functions of the non-bank finance sector, will see the introduction of or being revisited of their rules and regulations to improve the sector stability while strengthening the supervisory review process.

Consolidation in both the banking and non-bank finance company sector has been a recurring theme during most of the recent communications by the Central Bank, as it aims at further strength and stability in the two sectors, particularly at the latter, considering some pockets of weakness there.

Announcing the medium-term monetary and financial sector policies for 2024 and beyond, the Central Bank last week said it expects to facilitate market-based consolidation among small and mid-sized banks or between them and other suitable financial institutions via mergers and acquisitions.

Prior to 2015, the banking and non-banking sector embarked on what some referred to as forced consolidation to build five larger banks and 20 large finance companies in the country, to make them ready to fund the mega projects in post-war Sri Lanka.

However, the approach changed from a more of a regulator-driven consolidation to market-driven consolidation from 2015, with the new government coming into power, although the results were slow and less.

Although this took a back seat during the last couple of years, due to the pandemic-driven stresses and resulting economic crisis, which put an enormous strain on both sectors, Central Bank Governor Dr. Nandalal Weerasinghe said their next big focus is going to be the banking sector consolidation, soon after restoring the strength and stability of the sector in its current form.

IMF cautiously optimistic about SL’s economic recovery, stresses importance of tax reforms and fiscal discipline

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January 21, Colombo (LNW): The International Monetary Fund (IMF) has expressed cautious optimism regarding Sri Lanka’s economic recovery, emphasising the pivotal role of tax reforms and fiscal discipline in navigating the nation through its profound financial crisis.

IMF Senior Mission Chief to Sri Lanka Peter Breuer underscored the significance of tax administration in addressing the revenue shortfall that has contributed to the ongoing crisis.

He called for heightened compliance, condemning tax evasion and emphasising that any uncollected taxes increase the burden on other taxpayers.

Breuer commended the Sri Lankan government’s commitment to halting further tax concessions and highlighted planned reforms to enhance transparency in this regard.

Notably, the tax revenue-to-GDP ratio has decreased from 11 per cent in 2019 to a mere 7 per cent in 2022, resulting in a substantial funding gap.

The IMF mission chief outlined an ambitious trajectory for increasing tax revenue, targeting 9 per cent of GDP in 2023, 12 per cent in 2024, and 14 per cent in subsequent years.

While acknowledging the challenges posed by tax increases, Breuer emphasised their necessity for Sri Lanka’s long-term financial stability.

He provided details on the government’s reform measures, citing changes to personal income tax and corporate income tax implemented in 2022.

He also mentioned the planned introduction of a progressive property tax in 2025, emphasising its role in creating a fair taxation system where those with more valuable properties contribute proportionately higher taxes.

Imported egg price soars from today (Jan 21)

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January 21, Colombo (LNW): The price of imported eggs sold through SATHOSA outlets has soared effective from today (21).

Accordingly, the revised price of an Indian egg will be Rs. 43, said Trade Minister Nalin Fernando.

Previously, an imported egg was sold for Rs. 35.

He attributed the egg price revision to the recent value-added tax (VAT) surge.

Sri Lanka Original Narrative Summary: 21/01

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  1. Central Bank data shows Govt’s Treasury Bill & Bond holdings have jumped by a massive Rs.103 bn last week from Rs.16,244 bn to Rs.16,347 bn: also indicates that “hot-money” foreign investments in the T-Bills & Bonds had plunged by USD 11.0 mn in the same week from USD 350.3 mn to USD 339.3 mn: several analysts warn the debt situation is fast approaching a highly critical level.
  2. Ceylon Electricity Board forecasts a markedly low surplus of Rs.23.7 bn to the Public Utilities Commission to justify its request for a 3.34% reduction only on its average tariff although it had projected a profit of Rs.73 bn for this year in its internal approved budget: operational expenses for 2024 had also ballooned from Rs.97 bn in 2022 to Rs.164 bn in 2024, a staggering increase of 70%.
  3. JVP-led NPP declares it has no issues dealing with the IMF: insists however that the IMF’s programmes should be “in keeping with the national interest”: Former JVP MP Sunil Handunneththi says his Party’s will call for “drastic changes in keeping with national responsibility”.
  4. NPP General Secretary Tilvin Silva says most countries & organisations in the world, such as the IMF have begun to realise that the NPP will come to power at the next election: asserts the SJB is perturbed over the NPP’s recent meeting with IMF representatives: discloses that the Party discussed the “economic situation & impact of the tax increase on the people” with the IMF.
  5. Inland Revenue Dept Commissioner General W A S Chandrasekara says the IRD will tax any additional profits that would have been made by importers during the period in which the alleged sugar scam occurred.
  6. Commissioner General of Elections Saman Sri Ratnayake says there had been an addition of only 207,000 new voters in 2023, although usually about 300,000 new voters were added to the voter lists: asserts that these 207,000 new voters can vote if there is an election now.
  7. Minister of Religious and Cultural Affairs Vidura Wikremanayake says the Govt has sought financial assistance from the United Nations to celebrate the 2024 State Vesak festival: the Chinese Cultural Promotion, Buddhist Culture & Art Association has reportedly agreed to the Minister’s request, & to provide opportunities for SL Buddhist monks to go to China to study Mahayana Buddhism.
  8. Authoritative sources say the Colombo Port City has asked the Govt to introduce banking & financial services regulations that will allow investors to transact in foreign currencies & deal with counterparties offshore: such a move is to avoid any mandatory conversion or repatriation of monies.
  9. National Audit Office discloses that 50 railway crossing bell & light warning systems had become inactive, years before the expiration of the warranty period provided by the contractor: this had led to losses of approximately Rs.243 mn for the Dept of Railways.
  10. Acting IGP Deshabandu Thennakoon directs all police stations not to halt vehicles for inspections when officers are in civilian clothes: new directions issued in response to the recent tragic incident where a Sub Inspector in civilian attire had reportedly opened fire at a driver after the latter allegedly refused to stop his vehicle.

President’s Uganda visit strengthens diplomatic ties with Africa, unveils ‘Look Africa’ initiative for economic cooperation

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January 21, Colombo (LNW): President Ranil Wickremesinghe’s recent visit to Uganda has played a significant role in strengthening diplomatic ties with African nations that were previously underrepresented in Sri Lanka’s foreign relations, Sri Lanka’s Foreign Minister Ali Sabry said.

Foreign Minister Ali Sabry highlighted the importance of these engagements, emphasising the substantial population of approximately 1.3 billion in these African countries and the expected rapid development in the future, a statement by the President’s Media Division (PMD) said.

Sabry in a special statement underscored the impact of President Wickremesinghe’s ‘Look Africa’ initiative, laying the groundwork for Sri Lanka to invest in African nations and initiating a new economic chapter for the country.

During the visit to Uganda, where the President participated in the 19th Conference of the Non-Aligned Movement (NAM) and the G77+China Summit, Minister Ali Sabry emphasised the significance of expanding Sri Lanka’s engagement with Africa.

The President addressed global issues in his speech at the Non-Aligned Nations Conference, focusing on events in the Gaza Strip, Israel-Palestine, future steps for developing countries, and strategies for addressing debt burdens and climate change.

Wickremesinghe engaged in discussions with foreign leaders, including the President of Uganda, the Prime Minister of Ethiopia, the Vice President of the Republic of Benin, the Prime Minister of the Bahamas, and the Minister of Foreign Affairs of India. These discussions aimed at enhancing bilateral relations between these nations and Sri Lanka.

Sabry expressed optimism that the visit would strengthen ties with African countries, often overlooked, with a substantial population projected for rapid development.

The economic progress under President Wickremesinghe’s leadership received appreciation, and the ‘Look Africa’ initiative laid the foundation for economic cooperation with African nations, according to statement.

President Museveni of Uganda specifically praised President Wickremesinghe for contributing to the reconstruction of the nation. The visit played a crucial role in fostering bilateral relations with numerous African countries.

Noteworthy is the ‘Look Africa’ initiative, which has set the stage for investing in African countries, exemplified by the arrangement with the Republic of Benin, expecting mutual benefits through visa exemptions for diplomatic, official, and service passport holders.

Minister Ali Sabry utilised the opportunity to engage in bilateral discussions with counterparts from Bangladesh, Bahrain, Ghana, Tanzania, Azerbaijan, and others, contributing to strengthening friendships and fostering economic ties.

Participation in such summits is seen as a strategy for Sri Lanka to enhance bilateral relations with international partners and derive substantial benefits for the nation.

Young person shot dead in Malimbada, Matara: Police launch probe

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January 21, Colombo (LNW): Tragedy unfolded with a 24-year-old youth being shot dead in Malimbada, Thelijjawela, Matara last (20) night.

Two people arrived on a motorcycle at a mobile shop had opened fire on the victim, according to Police.

The victim was a resident of Welipitiya.

The Malimbada Police are conducting investigation into the incident.

The shooters and their motive are yet to be determined, Police added.