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Visa, Mastercard suspend operations in Russia over Ukraine invasion

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U.S. payments firms Visa Inc (V.N) and Mastercard Inc on Saturday said they were suspending operations in Russia over the invasion of Ukraine, and that they would work with clients and partners to cease all transactions there.

Within days, all transactions initiated with Visa cards issued in Russia will no longer work outside of the country and any Visa cards issued outside of Russia will no longer work within the country, the company said.

“We are compelled to act following Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed,” Al Kelly, chief executive officer of Visa, said in a statement.

U.S. President Joe Biden, in a call with Ukraine’s President Volodymyr Zelenskiy, welcomed Visa’s and Mastercard’s decisions to suspend their operations in Russia, the White House said. W1N2QI054

“President Biden noted his administration is surging security, humanitarian, and economic assistance to Ukraine and is working closely with Congress to secure additional funding,” a White House readout of the call added.

The move by the payments firms could mean more disruption for Russians who are bracing for an uncertain future of spiraling inflation, economic hardship and an even sharper squeeze on imported goods.

Unprecedented Western sanctions imposed on Russia have frozen much of the country’s central bank’s $640 billion in assets; barred several banks from global payments system SWIFT; and sent the rouble into free-fall, erasing a third of its value this week. read more

On Monday, Ukraine’s central bank chief Kyrylo Shevchenko told Nikkei Asia the central bank and Zelenskiy urged Visa and MasterCard to halt transactions of their credit and debit cards issued by Russian banks to increase pressure on the Russian regime, the paper.

A growing number of financial and technology companies have suspended Russian operations. PayPal Holdings Inc (PYPL.O), announced its decision earlier on Saturday

02.30 hours power cuts for several areas today

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Today (06) the Public Utilities Commission has given permission for a power cut of 02.30 hours in several areas only.

Accordingly, power cuts will be carried out for Zones A, B and C only between 09.00 am and 04.30 pm for 02.30 hours, said the Chairman of the Commission Janaka Ratnayake.

He further stated that there will be no power cuts in other areas as the demand for electricity is expected to decrease due to today being a Sunday.

CPC Chairman says no fuel scarcity in future amidst public outcry

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Long queues of vehicle users lining up outside petrol sheds has become a frequent sight in capital Colombo and in several other parts of the country.

Acrippling fuel shortage and consequent power cuts across Sri Lanka are threatening to worsen the island nation’s persisting economic crisis, while sparking protests from citizens..

Already in the midst of a severe dollar crunch — with its foreign reserves drying up — Sri Lanka has been further hit by the oil price surge to $100 a barrel in the wake of Russia’s war in Ukraine.

Behavinglike blind hiker in wilderness who cannot see what’s happening in the country , Ceylon Petroleum Corporation Chairman Sumith Wijesinghe says that that there will be no fuel scarcity in the country as adequate fuel was received and countrywide distribution has already begun,

He said the reason for the sudden fuel shortage was the consumers refueling more than the normal limits and stocking fuel in cans and barrels.

However, the government took measures to import sufficient volumes of fuel and began distributing throughout the country, he said. Ships containing fuel have arrived in the country and unloading is in progress now, Wijesinghe said.

Therefore, the CPC chairman requested the consumers not to panic and avoid standing in queues to get fuel. “Ships containing sufficient diesel, petrol, furnace oil, jet fuel and kerosene have reached the country.

Two shiploads of diesel are currently being unloaded, and another two are due on Monday and Tuesday, “the chairman said.

“Sri Lanka’s foreign reserves total just over $ 2 billion since the beginning of this year.

The government must repay foreign debt of $7 billion this year, including a $1 billion repayment due in July.

I n its response to the pandemic, the Rajapaksa government imposed broad import restrictions to save dollars, resulting in frequent shortage of essentials such as milk powder, pulses, spices that were sourced from other countries.

Sri Lanka roughly spends $500 million a month to source diesel and gasoline. Early in February, India and Sri Lanka signed an agreement for a $ 500 million from India to help the island nation with fuel imports.

On February 15, Sri Lanka received a 40,000 MT fuel consignment from the Indian Oil Corporation. Late February, the government struggled to pay $ 35 million for another 40,000-tonne shipment of diesel.

Still scrambling for dollars to import adequate fuel, Sri Lanka on Tuesday announced seven-and-a-half-hour daily power cuts across the country, said to be the longest duration of power cuts in over 25 years.

Apart from impairing activity in homes, the prolonged power cuts have put shops, malls, and restaurants under enormous pressure, especially when authorities are desperately trying to revive tourism.

There will be no fuel scarcity in the country as adequate fuel was received and countrywide distribution has already begun, Ceylon Petroleum Corporation (CPC) Chairman W.W.D. Sumith Wijesinghe said.

He said the reason for the sudden fuel shortage was the consumers refueling more than the normal limits and stocking fuel in cans and barrels.

However, the government took measures to import sufficient volumes of fuel and began distributing throughout the country, he said. Ships containing fuel have arrived in the country and unloading is in progress now, Wijesinghe said.

Therefore, the CPC chairman requested the consumers not to panic and avoid standing in queues to get fuel. “Ships containing sufficient diesel, petrol, furnace oil, jet fuel and kerosene have reached the country.

Two shiploads of diesel are currently being unloaded, and another two are due on Monday and Tuesday, “the chairman said

Dayasiri says there is no decision on separation from the government or from Pohottuwa

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Sri Lanka Freedom Party (SLFP) General Secretary Dayasiri Jayasekara says that the party has not yet decided to leave the government or contest separate elections from the party.

Q: Has there been a suggestion that SLFP will not contest the elections separately?

“No, but there were different proposals, so the majority of us have different opinions. Therefore, it is to be decided when an election comes. Can’t say now ”

Q: Is the SLFP still with the government in this situation? What is the latest situation?

“We are still with the government, there is no problem with that”

Q: Do not want to leave?

“That decision should be taken after taking a decision of the Central Committee. No such decision has been taken at present. We are still working with the government ”

Q: Your Leader is getting strong criticism from some government ministers and MPs?

“President Maithri has faced more problems than that. It’s normal to blame each other. It is not good to respond to criticism.”

Minister of State Dayasiri Jayasekara stated this addressing the media after a special meeting of the SLFP organizers held in Colombo yesterday (05).

There was no fuel crisis in the country – Mahinda Rajapaksa (VIDEO)

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Prime Minister Mahinda Rajapaksa has said that there was no fuel crisis in the country and that the inexperienced and politically ignorant Minister Udaya Gammanpila’s statements caused the people to queue in front of fuel stations.

“Today, President Gotabhaya Rajapaksa has taken steps to take his country in the same direction and develop it by expressing his views very clearly. As the Prime Minister, I believe that all of us, not only as Ministers and other Members of Parliament, but also as public servants, must work to implement that program.

Recently we know that there was talk of a fuel crisis. But there was no such crisis. People get upset when they are told that there are fuel stocks which are enough for only four or three days. Those are some false statements. Because in our era we only had fuel for 24 hours. But luckily the ships had been brought in, all they had to do was unload them. Now the ship had arrived at the port. By making certain statements in such cases – I think it was due to some lack of political understanding or experience – people became agitated, unnecessarily scared, and formed queues. But that situation has changed today. It will keep changing.

We need to develop our country. We developed highways, today 98% of the country has electricity. We need to improve the water supply in the same way. Vasudeva Nanayakkara is carrying out that task. That is how we give priority to fulfilling the needs of these people. ”

The Prime Minister Mahinda Rajapaksa said this while participating in the opening ceremony of the new building of the Narammala Pradeshiya Sabha constructed at a cost of Rs. 133 million yesterday (05).

PM meets the new US Ambassador

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A meeting between Prime Minister Mahinda Rajapaksa and the new US Ambassador to Sri Lanka Julie J. Chung was held at Temple Trees this morning (04).

This is Julie J. Chung’s first visit to the Prime Minister since her appointment as US Ambassador to Sri Lanka.

US Ambassador to Sri Lanka Julie J. Chung stressed that she seeks to further strengthen the existing political, social and economic ties with Sri Lanka. Julie J. Chung said she would help keep the Sri Lankan economy strong in the face of the Covid-19 epidemic and expressed confidence that it would help boost the country’s energy and tourism sectors.

Prime Minister Mahinda Rajapaksa said that the Government of Sri Lanka would work to maintain the existing relations between the United States and Sri Lanka and congratulated Julie J. Chung on the success of her new post. Minister of State Tharaka Balasuriya and Secretary to the Prime Minister Anura Dissanayake were also present on the occasion.

Daraz enters in to partnership with Embark to sell its products

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Daraz Sri Lanka and Embark entered into a franchise partnership, giving customers an exclusive platform to shop for Embark products.

The signing of the partnership took place on 2 March between Daraz Sri Lanka Managing Director Rakhil Fernando and Embark Founder Otara Gunewardene.

Through this new partnership, both Daraz and Embark customers gain access to a range of Embark merchandise including t-shirts, tops, pet toys, collars, leash, bowls, and beds as well as wristbands and other accessories such as slippers, caps, cloth shopping bags, and much more especially designed for passionate pet owners.

Daraz Sri Lanka Managing Director Rakhil Fernando, commenting on the partnership, said: “We are thrilled about this partnership. Daraz and Embark will be a very powerful, meaningful combination, as both these entities find solidarity in their ambitions to do more to the community.

It is equally important to us that we keep growing our pool of well-established local brands on the platform, while also setting the pace for bigger fashion brands to partner with Daraz to reach new markets, more economically, through our online retailing space.”

In addition to accessing the full range of Embark merchandise with the option of island-wide delivery via Daraz’s trusted DEX partners, customers can also avail themselves of a host of credit card discounts, seasonal promotions, and special offers for purchases made exclusively through Daraz.lk.

Commenting on the partnership, Embark Founder Otara Gunewardene shared: “Embark is a conscious brand which promotes a lifestyle of compassion and kindness that caters to an audience with similar sentiments.

With every purchase, a customer directly supports the cause of this organisation. With our partnership with Daraz, more citizens can now contribute to make the lives of innocent street dogs better, fashionably.”

Founded by Gunewardene in 2007 as an animal welfare and rescue initiative, Embark is dedicated to improving the wellbeing of street dogs and other animals.

Importantly, by making available Embark merchandise to a wider audience through this partnership, more people are encouraged to support the rescue efforts of Embark in the long term.

SL Business confidence continues despite economic crisis

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Sri Lanka’s sole barometer of business confidence edged up to above where it stood a year ago despite ominous signs that the economic crisis is unlikely to abate anytime soon,” says LMD, in its forthcoming March edition.

It explains: “The BCI edged up by two basis points from the previous month to register 124 in February, which represents a 10-month high. This means that the unique index is four notches higher than a year ago and a healthy 15 points above its 12-month average of 109.”

This is the third month in succession that the barometer has headed north, despite the state of the economy, the forex crisis, ongoing shortages of essentials and an on-off power scenario, the leading business magazine observes.

NielsenIQ’s Director – Consumer Insights Therica Miyanadeniya says in LMD: “In spite of rising COVID-19 cases, life seems to go on. Businesses and the people are learning to live with virus, it seems; and the fear that it commanded in the past has diminished.”

A spokesperson for LMD states: “Businesspeople may continue to adopt a longer-term perspective if there’s a resolution to the forex crunch in sight – and for that to materialise, there are increasing calls for debt restructuring measures to be adopted.”

“A solution to the power crisis and the impact of the war in Ukraine will also weigh on the minds of corporates in the shorter term,” he adds.

Media Services, which publishes LMD, says the latest edition of the pioneering magazine will be released shortly, along with its digital version which will be shared on WhatsApp and the publisher’s social media platforms.

Former Central Bank of Sri Lanka Governor Dr. Indrajit Coomaraswamy added weight to this statement, asserting that Sri Lanka has had opportunities to use its location and standard of living, to attract foreign investments and drive exports but economic reforms are critical to enable the country to move forward.

Despite this outlook, the outcome of the latest LMD-Nielsen Business Confidence Index (BCI) survey paints a slightly more positive picture.

NielsenIQ’s Director – Consumer Insights Therica Miyanadeniya offers insights into the latest survey results: “, it has been both a difficult and turbulent year for businesses, the population and the country as a whole… Sri Lanka has paid a high price, and it’s hoped that 2022 will bring new life and energy to a country reeling from the fallout from COVID-19.”

Miyanadeniya asserts: “As business, people and the nation look forward to a better year, business confidence is likely to continue rising as corporates formulate new strategies to salvage and improve on what was lost due to the pandemic in 2021.”

However, she warns that the outlook might not be as positive for consumers, noting that “the price of goods and services is escalating, more and more shortages are being experienced, and there may be a need to continue tightening our belts in the future.”

She noted that a drastic improvement in sentiment would be unlikely unless the myriad challenges facing the country were addressed.

That being said, given that Sri Lanka’s economic challenges are set to continue in the new year – with uncertainty marring the global landscape as well – the direction of the BCI is likely to hinge on how the government plans to avert a state of economic failure.

Uva Wellassa farmers complain to HRCSL on 65000 acre land grab

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Uva Wellassa farmers on Saturday (05) handed over a petition to the Human Rights Commission of Sri Lanka requesting assistance to protect the human rights of the people affected by the transfer of 65,000 acres of land in Uva Wellassa to several multinational corporations.

65,000 acres of land in the Dehigama area in the Rideemaliyadda Divisional Secretariat Division are to be handed over to Gazelle Ventures of Singapore for a sugar production project.

This land which belongs to the historical Uva plain has several major reserve forests such as the Nilgala Medicinal Forest, Maduruoya Reserve Forest and the Senanayake Samudraya Reserve Forest located.

Environmentalists point out that the catchment areas of Gala Oya, Madura Oya, Ulhitiya Oya and Hapola Oya are also located in the relevant 65,000 acres.

The present day dependents of these lands are indigenous communities of Dambana, Pollebedda and Ratugala.

Ven. Dodangolla Soratha Thero, the Chief Patron of the Uva Wellassa Human Rights Protection Front requested the Government to not to sacrifice the public, and to immediately withdraw the Uva Wellassa land grab.

The bulldozing of 572 acres of land had taken place recently in the area despite the suspension of the project initiated by the previous regime due to the protests of environment groups and the Buddhist clergy, residents said. .

Environmental conservation activists had informed that if sugarcane is allowed to be grown, and then all environmentally sensitive areas such as Gal Oya, Maduru Oya and the Malgala Herbal Garden would be seriously impacted.

The previous ‘Yahapaalana’ government minister had given approval to cabinet paper MDE/AD/03/CAB-PA/2017 to hand over 62,500 acres from Uva-Wellassa to the Gazelle Ventures of Singapore, through its parent company, the New York-based multinational company CDVCA, to cultivate sugarcane. T

he former President Maithripala Sirisena, as the minister of environment, has signed the relevant cabinet paper.

The cabinet paper says the Bibile sugar company development project will be launched in 2017, carried out in an expeditious manner for its commercial operations to be launched before December 2019 in order to eliminate poverty by creating sustainable economic prosperity for the people of Rambaken Oya special economic area under the Sri Lanka Mahaweli Authority.

The local agent for the project is the notorious MS Holdings, which attempted previously too, to swindle land of the area for a sugarcane project. It had to abandon its plan, made in 2006 with Britain’s Booker Tate, due to public protests.

JVP Member Samantha Vidyaratna, recently called on the Chief Prelates of the Asgiriya and Malwatta Chapters of the Siam Sect to brief them on the decision taken by the Government to grant 65,000 acres from Uva-Wellassa and Bintenna to grow sugarcane to a multinational firm.

He informed the Chief Prelates that these lands were in Ampara, Moneragala and Badulla Districts and had charged that attempts had been made to hand over the lands to a British firm

Previously-uncultivated land is the best for sugarcane cultivations, which then render the land barren. Multinational companies squeeze the richness out of the land, just like squeezing the juice out of the sugarcane, and only the barren land will be left to us , he added.

In a statement, the convener of the Centre for Environment and Nature Studies (CENS), Dr.Ravindra Kariyawasam alleged that the government trying to give 572 acres of farmers inherited lands and their agricultural lands located at Bintenna, Dehigama area to a Singaporean company for mega-scale sugarcane cultivation.

“IMS holdings and Singaporian Company are acting as the main investors of this project while Bibila Sugar Company works as a cultivating partner for this. Biblia Sugar Company earlier received permission from Central Environment Authority (CEA) in 2013 to use these lands for the project. The permission was valid for 3 years from 2013.

However, now the permission has expired and they don’t have the moral right to start this project based on 2013 permission without having the proper evaluation about the current value of the lands of farmers and without giving proper compensation”, CENS elaborates in the statement.

CENS further points out that the government is helping with this illegal land grabbing process.“This process is violating the National Environmental Act.

This land grabbing process begins in 2011 with a national physical plan that suggests cultivating one crop in large areas to gain more profits for companies rather than multi crops cultivation what`s good for the general public.”, the CENS statement further said.

Interactive dialogue on the OHCHR report on Sri Lanka

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Statement by Hon. Prof. G.L. Peiris Minister of Foreign Affairs of Sri Lanka  (Geneva, 04 March 2022)

Mr. President,

The Resolution 46/1 on Sri Lanka was adopted by a divided vote in this Council. Sri Lanka and other Member States opposed this resolution in fundamental disagreement with its deeply flawed procedure and unacceptable content, in particular its OP para 6 regarding a so-called evidence-gathering mechanism. The Resolution was directly contrary to the Council’s founding principles of impartiality, objectivity and non-selectivity. It went well beyond the mandate that Member States conferred on it by UNGA Resolution 60/251. I have stated Sri Lanka’s views on this matter to this Council on 01 March. We also submitted in a timely manner our comments on the High Commissioner’s report. We note with regret that the Secretariat failed to publish this simultaneously with the High Commissioner’s written update.

Despite our rejection of the resolution, we will continue our voluntary international undertakings on human rights and engage with the United Nations, including with this Council.  As stated by President Gotabaya Rajapaksa of Sri Lanka to our Parliament on 18 January 2022, “We are a nation that respects international laws and conventions”. We have regularly shared our progress and challenges in a candid and open exchange with this Council and other relevant organs of the United Nations system.  

We are convinced that there are serious anomalies and weaknesses in the report presented to this Council by the High Commissioner. The fundamental deficiency is its intolerably intrusive character, impinging as it does on core functions and responsibilities of organs of the Sri Lankan State, overwhelmingly mandated by the people of our country at three successive elections. There is, as well, a clearly discernible element of discrimination, in that the Council would certainly not take it upon itself to embark on a similar inquisitorial procedure in respect of other Member States. This, in itself, strikes at the very root of the foundations of the United Nations system. The issue of uniformity and consistency of standards applied by the High Commissioner to Member States, irrespective of their size and influence, and in steadfast conformity with the essential principle relating to the sovereign equality of all members of the United Nations fraternity, is cynically transgressed in several portions of this report.

To our minds, this is particularly disturbing because the strength and prestige of the United Nations, and especially the Human Rights Council, derive from the widespread regard of the international community, as a whole, for the moral and ethical basis underpinning the attitudes of the Council. We fervently believe that it is vitally important to retain this confidence undiminished, especially having regard to the fate of the Human Rights Commission, the predecessor of this Council. It is a matter for deep regret that numerous instances of unsubstantiated allegations and superficial conclusions insensitive to the complexity of ground situations have found their way into the report. We have commented on these in extensive detail in our written response.

We are dismayed by the High Commissioner’s unwarranted onslaught on seminal institutions of our country which function under the aegis of Sri Lanka’s Constitution and legal system, emanating from a rich and varied cultural heritage, and are subject to stringent review processes which form an integral part of our tried and tested laws.

There is also the question of use of stringently limited resources in such a manner as to achieve optimal benefit for all of humanity at a time of unprecedented crisis. The colossal expenditure of millions of dollars in a partisan and specifically targeted pursuit of Sri Lanka is hardly consonant with this obvious imperative. It seems to us a great pity that the report shows scant regard for these considerations which appear to a wide swath of nations to be crucially important at this time.

The Government of Sri Lanka is firmly resolved to maintain the security and stability that we have restored for our people and ensure sustainable progress in an equitable manner. My country reaches out to the international community with the sincere exhortation to join us as partners on a footing of equality and mutual respect to face the challenges ahead.

I thank you, Mr. President.