1. Central Bank says it’s gross official reserves have risen to around USD 3 bn: Analysts point out that is because of approximately USD 500 mn of “hot-money” inflows by investors who are making phenomenal returns on the back of the LKR appreciation and over 25% interest rates for T-Bills & Bonds: analysts also say the CBSL Forex Reserve now basically consists of Central Bank SWAPs of USD 2,150 mn + IMF loan tranche of USD 333 mn + “hot money” investments of USD 500 mn.

2. President Ranil Wickremesinghe says although all political parties in Parliament are united, none of them currently possess a 50% voter base: emphasizes the need for unity among the parties to steer the country towards recovery from the ongoing economic crisis: asserts the majority of people have lost faith in elections and politics.

3. Japanese embassy in Colombo says resumption of loan projects will depend on the progress of the SL debt restructuring process: statement seems to be in response to the Cabinet’s approval to proceed with the resumption of the USD 2.2bn LRT project to be financed by JICA.

4. IMF Deputy Managing Director Kenji Okamura says the Sri Lankan economy is showing tentative signs of improvement, in part due to the implementation of critical policy actions: warns economic recovery remains challenging: also says it is essential to continue the reform momentum under strong ownership by both the authorities and the Sri Lankan people.

5. Minister of Justice Dr. Wijeyadasa Rajapakshe reveals the Office of Missing Persons has concluded inquiries into 3,170 complaints: also says the OMP’s initial productivity was unsatisfactory, but steps have been taken to improve the process.

6. Former Governor of the Northern Province and TMTK MP CV Wigneswaran, says he will seek support from Hindu religious organisations in India to counter the systematic Buddhistisation activities in the North & East.

7. Tea Board Chairman Niraj de Mel claims the tourism sector has not adequately pushed local tea to tourists: says the hotel industry lacks knowledge about the 157-year-old Ceylon Tea, a beverage known around the world.

8. CEB proposes tariff reduction of 28% for over 1.7 mn domestic electricity consumers who consume less than 30 units per month: the present electricity bill of these low consumption consumers is around Rs.751: following the proposed revision on 1st July, the bill is expected to reduce to around Rs.543: prior to the tariff hikes, it was Rs.105.

9. Civil rights activists raise concerns over the recent arrest of controversial female stand-up comedian Nathasha Edirisooriya, over an alleged defamatory comment made by her related to Buddhism, under the Int’l Covenant on Civil and Political Rights (ICCPR) legislation.

10. Pakistan Cricket Board is said to be upset at the Sri Lankan Cricket Board expressing its desire to host the entire Asia Cup tournament: declines offer to play an ODI bilateral series in Sri Lanka.

By: Staff Writer

Colombo (LNW):The Directorate of Revenue Intelligence (DRI) has cracked down on a sophisticated syndicate involved in gold smuggling via the sea route from Sri Lanka ring.

India has recovered 32 kilograms of gold dumped at sea while being smuggled to Sri Lanka.The gold was recovered in a joint operation involving the Coast Guard, Directorate of Revenue Intelligence (DRI) and Customs.

The gold, valued at Indian Rs 20.2 crore, was being smuggled from India to Sri Lanka, an official release said.

The seizure was a result of a specific input from the DRI regarding smuggling of contraband between Sri Lanka and India, following which a joint operation was launched by Indian Coast Guard and DRI on May 30.

Underwater divers salvaged the precious metal from under the sea after the smugglers threw it aboard while being pursued by officials of the agencies.

A joint operation by the Indian Coast Guard, Directorate of Revenue Intelligence and Customs has foiled an attempt to smuggle gold bars weighing 32.689kg into India, via the sea route from Sri Lanka.

Launched on Tuesday 30th May, this operation was carried out based on specific input from DRI regarding the smuggling of contraband from the island nation to India.

In anticipation of the smuggling attempt, Indian agencies maintained close surveillance of fishing vessels operating in the Gulf of Mannar and those near the India-Sri Lanka International Maritime Boundary Line (IMBL).

The agencies apprehended two boats – a suspicious boat approaching the Mandapam fishing harbour in Tamil Nadu’s Ramanathapuram district and another suspicious vessel south of Mandapam.

The sea route between northern Sri Lanka and the southern districts of Tamil Nadu, India, is highly porous and has a lot of fishing activity.

In a matter of a few hours and a few dozen kilometres, it is possible to cross over the IMBL and reach the waters of the other side.

The first boat attempted to evade the agencies and then dumped the consignment overboard before its three-member crew was apprehended by the agencies.

Upon interception, the second boat was said to have 21.269 kgs of smuggled gold and its two-member crew was taken into custody.

To recover the consignment that was dumped overboard by the first vessel, the Indian Coast Guard launched a diving operation at the site and recovered the gold consignment from the seabed, on Thursday. It contained gold bars weighing 11.6 kg.

The entire seized consignment is valued at Rs. 20.20 crore or $2.5 million. The seized contraband and suspects are in DRI custody for legal action.

Litro Gas Lanka, a prominent supplier of domestic Liquefied Petroleum (LP) gas in the country, has made a significant decision to reduce the prices of its products. The price reduction will come into effect from midnight tomorrow, June 4, according to the chairman and CEO of Litro Gas, Muditha Peiris.

This move is expected to have a positive impact on consumers, as it will result in a substantial reduction in the price of a 12.5kg gas cylinder. Currently priced at Rs. 3,638, the cost of the cylinder is anticipated to decrease by approximately Rs. 400.

At least 238 people have been killed and 650 are injured in a crash involving three trains in India’s eastern Odisha state, officials say.One passenger train derailed and its coaches fell on to the adjacent track where they were struck by an incoming train on Friday evening. A freight train was stationary.

The death toll is expected to rise, as many are still trapped in the wreckage.

The cause of India’s worst train crash this century is not yet clear.

Officials said several carriages from the Shalimar-Chennai Coromandel Express derailed at about 19:00 (13:30 GMT) in Balasore district, hit a stationary goods train and several of its coaches ended up on the opposite track. 

Another train – the Howrah Superfast Express travelling from Yesvantpur to Howrah – then hit the overturned carriages.

“The force with which the trains collided has resulted in several coaches being crushed and mangled. We are trying to cut through the wreckage to reach the passengers. We also have to be careful to not hurt those alive,” Atul Karwal, chief of the National Disaster Response Force (NDRF) told news agency ANI. 

He said this was “the third deadliest crash in the history of Indian railways”. 

More than 200 ambulances and hundreds of doctors, nurses and rescue personnel were sent to the scene, the state’s chief secretary Pradeep Jena said.

Sudhanshu Sarangi, director general of Odisha Fire Services, had earlier said 288 had died.

Railway Minister Ashwini Vaishnaw is at the site of the accident and Prime Minister Narendra Modi is expected to visit the injured in the hospital later on Saturday.

One male survivor said that “10 to 15 people fell on me when the accident happened and everything went haywire. I was at the bottom of the pile. 

“I got hurt in my hand and also the back of my neck. When I came out, I saw someone had lost their hand, someone had lost their leg, while someone’s face was distorted,” the survivor told India’s ANI news agency.

A day of mourning has been announced in the state.

bbc

The Department of Examinations has announced that comprehensive arrangements have been put in place to effectively handle emergency disasters during ongoing examinations. Commissioner General of Examinations, Amit Jayasundara, reported yesterday that floods were observed in various areas. However, he assured that the Disaster Management Center, in coordination with other teams, successfully transported candidates to their examination centers using boats.

Despite the challenges posed by the inclement weather, Commissioner General Jayasundara expressed his expectation that the situation would improve by Monday, allowing examinations to proceed without further disruptions.

Meanwhile, the Irrigation Department has issued a warning regarding a minor flood situation near the Kudaa River, in the vicinity of the Bulathsinghala Divisional Secretariat. Residents living in low-lying areas near the Maguru River are also advised to exercise caution. Moreover, the department highlighted that the water level of the Gin River is rising due to the persistent heavy rains, urging residents of Baddegama to remain vigilant.

In addition, the Irrigation Department has alerted people residing in low-lying areas about the potential rise in the water level of the Nilwala River. It is crucial for residents to stay informed and take necessary precautions to ensure their safety and the protection of their property.

Furthermore, the early warning issued for landslides in several divisional secretariats across the Matara, Ratnapura, Galle, and Kalutara districts remains in effect. Authorities continue to closely monitor the situation, emphasizing the importance of residents remaining alert and following safety guidelines provided by local authorities.

1. President Ranil Wickremesinghe reiterates a Climate Change University will be established in Sri Lanka next year: also says prestigious institutions like Harvard and MIT have expressed interest to collaborate with it.
2. Several environmental organizations backed by the Socialist Youth Union stage protest outside the Ministry of Justice: demand the Govt to file charges against the X-Press Pearl ship tragedy at a Sri Lankan Court instead of Singapore: also ask that the Govt seeks compensation for the environmental damage.
3. Energy Minister Kanchana Wijesekera says instructions have been given to CPC & CPSTL to continue fuel deliveries on Saturday & Sunday this week to supply sufficient stocks to all fuel stations: long fuel queues continue.
4. State Minister of Finance Ranjith Siyambalapitiya says import restrictions on 300 to 400 items will be relaxed from next week.
5. SJB MP Harshana Rajakaruna says inflation had dropped as a consequence of reduced consumption: asserts the reduction of inflation is not a sign of economic stability: meanwhile, the severe contraction of the economy continues with 2022 growth being -7.8% and 2023 expected to be -4.2%: thousands of SMEs have already closed and over 500,000 persons added to the unemployed category.
6. Research findings of blind graduate of Uni of Sri J’pura specialising in philosophy and psychology shows that Govt has stopped hiring graduates during the past 3 years and 75 blind graduates who graduated in the year before are severely affected by the prevailing economic crisis and unemployment.
7. CB Governor Nandalal Weerasinghe says the USD 200 mn loans obtained from Bangladesh Bank will have to be paid back in September 2023: USD 2,150 mn out of current CB external reserves consist of SWAPs with other Central Banks (China USD 1550mn, India USD 400mn & Bangladesh USD 200mn), secured by former Governors Cabraal and Lakshman.
8. Tourism data shows the industry has rebound with earnings of USD 828mn in the first 5 months of 2023: reflects a 30% increase from the corresponding period of last year: earnings from Tourism was USD 4,500 mn in 2018.
9. SLPP Rebel MP and FPC Leader Dullas Alahapperuma responds to President Ranil Wickremesinghe’s recent address to the nation: asks “who ruined the country”?
10. SL lose to Afghanistan by 6 wickets in the 1st Cricket ODI at Hambantota: SL 268 (50) – Charith Asalanka 91, Dhananjaya de Silva 51, Pathum Nissanka 38, Fareed Ahmad 43/2): Afghanistan 269/4 (46.5) – Ibrahim Zadran 98, Kasun Rajitha 49/2.

In a significant development aimed at addressing the challenges of climate change, President Ranil Wickremesinghe has revealed that efforts are underway to establish the Climate Change University next year. The president made this announcement during a briefing held on climate change and green growth at the Presidential Secretariat on June 2.

President Wickremesinghe emphasized that the Climate Change University will be a specialized post-graduate institution solely dedicated to research in the field of climate change. It will not offer undergraduate courses, ensuring a laser focus on advanced studies and cutting-edge research. The university will welcome contributions from countries and organizations interested in climate change and will grant them membership on the Board of Governance. Notably, the Korean Exim Bank has expressed its interest in partnering with the university, underscoring the international support for this initiative.

Highlighting the significance of the International Climate Change University, President Wickremesinghe urged that all future research endeavors in the field of climate change should be conducted at this institution. He further revealed that esteemed institutions like Harvard and MIT have shown interest in collaborating with the university, indicating the high regard it is garnering globally.

Recognizing the importance of capacity building, President Wickremesinghe also proposed the consideration of short-term courses tailored for government officials. By equipping public servants with the necessary knowledge and skills, the government aims to strengthen its efforts in combating climate change and pursuing sustainable practices.

During the briefing, the discussions revolved around five thematic areas identified in a previous meeting with President Wickremesinghe. These areas include the establishment of a Climate Change Office, facilitation of Green Finance, the establishment of the International Climate Change University, promoting Nature Positive Green Growth, and providing Innovative Management Support. Special attention was given to regions that lag behind in these areas, such as marine pollution and the adoption of electric car mobility.

President Wickremesinghe instructed the authorities to address these concerns promptly, emphasizing the need for active involvement from the private sector and international organizations. By fostering collaboration and engagement, the government aims to drive sustainable practices, protect the environment, and mitigate the impacts of climate change.