Central News Hub

Tag: Lanka

  • Currency depreciation lands Lanka in soup

    Currency depreciation lands Lanka in soup

    The country’s biggest wheat importer PRIMA increased the price of a kg of wheat flour by 35 LKR….reports Asian Lite News

    The prices of a number of essential items in Sri Lanka increased on Friday after the country’s central bank allowed the country’s rupee (LKR) to devalue to 230 per US dollar.

    On Friday, the All Ceylon Bakery Owners Association increased the price of a loaf of bread by 30 LKR, and the new price of a loaf of bread is between 110 to 130 LKR, reports Xinhua news agency.

    The country’s biggest wheat importer PRIMA increased the price of a kg of wheat flour by 35 LKR.

    Meanwhile, Lanka Indian Oil Corporation, the country’s second-largest retail fuel distributor, increased the selling price of diesel by 75 LKR per liter and petrol 50 LKR per liter on Thursday midnight.

    Three-wheeler and bus owners’ associations claimed that there will be drastic increases in fares with the hike in fuel prices by Lanka India Oil Corporation, demanding a fuel subsidy.

    Anjana Priyanjith, chairman of the All Ceylon Private Bus Owners Association, warned that the minimum bus fare will be between 30 and 35 LKR, urging the government to provide a diesel subsidy for private bus owners.

    The price of airline tickets was increased by 27 per cent, said Sri Lanka’s Civil Aviation Authority.

    The Central Bank of Sri Lanka on Monday allowed the LKR to devalue considering the severity of the external shocks and recent developments in the domestic front.

    The LKR on Thursday depreciated to 260 per US dollar from 200 per dollar before depreciation.

    ALSO READ: Lanka woos foreign investors

  • Lanka woos foreign investors

    Lanka woos foreign investors

    Sri Lanka’s state-owned investment agency the Board of Investment (BOI) last week said the country is aiming to attract $3 billion in the FDI by 2026…reports Asian Lite News

     Sri Lanka’s cabinet of ministers on Tuesday approved a proposal to issue long-term visas for tourists interested in investing in the island nation.

    Minister of Youth and Sports Namal Rajapaksa said in a statement that the proposal was submitted by President Gotabaya Rajapaksa and approved by the cabinet, reports Xinhua news agency.

    Namal said the option of long-term visas for keen investors will not only significantly increase Foreign Direct Investments (FDI), but also encourage more professionals and experts to invest, work, and live in Sri Lanka.

    Sri Lanka’s state-owned investment agency the Board of Investment (BOI) last week said the country is aiming to attract $3 billion in the FDI by 2026, and the BOI has finalised a strategic plan for the period of 2022 to 2026.

    As per the BOI’s plan, export revenue with new investments would reach $15 billion by 2026, and more than 100,000 jobs would be created in the country.

    The Central Bank of Sri Lanka.(pic credit: https://www.cbsl.gov.lk )

    Sri Lanka allows currency to devalue

    Central Bank of Sri Lanka has allowed the country’s rupee to devalue to 230 per US dollar considering the severity of the external shocks and recent developments domestically.

    The bank said that it will closely monitor the emerging macroeconomic and financial market developments, both globally and domestically, and will stand ready to take further measures as appropriate, Xinhua news agency reported.

    The aim is to achieve stability in inflation, the external sector, the financial sector, and real economic activity, according to the bank.

    “In that context, greater flexibility in the exchange rate will be allowed to the markets with immediate effect. The central bank is also of the view that forex transactions would take place at levels which are not more than 230 rupees per US dollar,” it said in a statement.

    Earlier the Sri Lankan rupee was pegged to the dollar at 200.

    A number of Sri Lankan economists have been urging the government to devalue the rupee in the past few months, stating that this policy was creating forex shortages and parallel exchange rates.

    ALSO READ: 32 Lankans evacuated from Ukraine takes toll on India’s defence deals

  • 32 Lankans evacuated from Ukraine

    32 Lankans evacuated from Ukraine

    The Foreign Ministry is also monitoring the status of Sri Lankan nationals in countries which share land borders with Ukraine….reports Asian Lite News

    Thirty-two Sri Lankan nationals who were stranded in Ukraine have been evacuated through four separate borders, Lankan Foreign Ministry sources said on Wednesday.

    The Foreign Ministry had earlier announced that it was engaged in the evacuation of approximately 40 Sri Lankan nationals, including two students, via the Ukraine-Poland border.

    The efforts have been facilitated by the Sri Lanka Embassies in Warsaw (Poland) and Ankara (Turkey), which are concurrently accredited to Ukraine.

    The Foreign Ministry is also monitoring the status of Sri Lankan nationals in countries which share land borders with Ukraine.

    After Russia launched military operations in Ukraine on February 24, the Foreign Ministry had instructed the Sri Lankan Embassy in Ankara, which is concurrently accredited to Kiev, to take appropriate measures to coordinate the safe passage of the remaining Sri Lankans in Ukraine.

    Meanwhile, the Foreign Ministry had also announced that the Sri Lankan Embassy in Moscow, which is concurrently accredited to Belarus, is continuing to be in contact with the approximately 1,600 Sri Lankan nationals, including 1,556 students studying in over eight universities and higher education institutes in Belarus.

    “Sri Lanka’s Ambassador in Moscow is in direct contact with the relevant university authorities, student and parent groups, as well as other concerned institutions in Belarus, with regard to the safety and welfare of the Sri Lankan students,” the Foreign Ministry stated.

    ALSO READ: Former SriLankan Airlines head appointed as CFO in Jet Airways

  • Lanka on mission to combat fuel shortage

    Lanka on mission to combat fuel shortage

    The Central Bank has also recommended that the use of private vehicles must be discouraged …reports Asian Lite News

    The Sri Lankan Central Bank presented the cabinet of ministers earlier this week a set of proposals to overcome the current foreign exchange and fuel shortages, local media reported.

    Governor of the Central Bank, Ajith Nivard Cabraal presented the proposals at a special cabinet meeting convened to discuss solutions to the fuel shortages. The Central Bank recommends reducing the working days to four days a week and allowing employees, who are desk bound, to arrive at work at 9 a.m. and leave by 3 p.m.

    The Central Bank has also recommended that the use of private vehicles must be discouraged and the government should launch a media campaign to encourage people to reduce the use of fuel, Xinhua news agency reported.

    The proposals also recommend that the country’s two main state-owned banks, the People’s Bank and Bank of Ceylon, should stop issuing loans to Ceylon Petroleum Corporation, and the price of fuel should be increased.

    ALSO READ: Lanka completes return of illegally imported waste to UK
  • Lanka completes return of illegally imported waste to UK

    Lanka completes return of illegally imported waste to UK

    The 45 containers loaded onto a ship at a Colombo port on Monday were the final batch of 263 containers holding about 3,000 tonnes of waste…reports Asian Lite News

    Sri Lanka has shipped out to the United Kingdom the last of several hundred containers filled with thousands of tonnes of illegally imported waste, officials said on Monday.

    Several Asian countries have in recent years been pushing back against an onslaught of refuse from wealthier nations and have started turning back unwanted shipments.

    The waste from the UK arrived in Sri Lanka between 2017 and 2019, and was listed as “used mattresses, carpets and rugs”.

    But in reality, it also contained biowaste from hospitals, including body parts from mortuaries, according to customs officials, the AFP news agency reported on Monday.

    The containers were not chilled and some of them gave off a powerful stench, officials said.

    The 45 containers loaded onto a ship at a Colombo port on Monday were the final batch of 263 containers holding about 3,000 tonnes of waste.

    “There could be fresh attempts to import such hazardous cargo, but we will be vigilant and ensure that this does not happen again,” customs chief Vijitha Ravipriya said.

    The first 21 containers holding medical waste were returned to the UK in September 2020, according to customs.

    A local company had imported the waste from the UK, saying it planned to recover the springs from used mattresses as well as cotton to be reshipped to manufacturers abroad.

    But customs failed to find credible evidence of such “resource recovery”.

    A local environmental activist group filed a petition demanding the waste be returned to its sender and Sri Lanka’s Court of Appeal upheld the petition in 2020.

    Customs maintained that all the containers had been brought into the country in violation of international law governing the shipment of hazardous waste, including plastics.

    A Sri Lankan investigation in 2019 found the importer had reshipped about 180 tonnes of waste brought into the island to India and Dubai in 2017 and 2018.

    The Philippines, Indonesia and Malaysia have also returned hundreds of containers of refuse to their countries of origin.

    ALSO READ-Biden hits back at Putin with sanctions

  • 6 Indian fishermen arrested by Lankan Navy on poaching charges

    6 Indian fishermen arrested by Lankan Navy on poaching charges

    The fishermen were the residents of Nambuthalai in Ramanathapuram district and the boat was owned by a person from Nagapattinam….reports Asian Lite News

    The Sri Lankan Navy has arrested six Indian fishermen and seized their boat allegedly for poaching in country’s territorial waters.

    The arrest was made on Saturday night near the Kovilan lighthouse, Jaffna.

    According to information from the Sri Lankan Army website, the fishermen and the boat were captured for crossing the IMBL.

    The fishermen were the residents of Nambuthalai in Ramanathapuram district and the boat was owned by a person from Nagapattinam.

    The fishermen leaders said that they have set sail from Nambuthalai on February 18.

    With this incident, 29 fishermen and six fishing boats are under the custody of the Sri Lankan authorities in the month of February alone.

    PMK leader Anbumani Ramadoss called upon the Indian government to hold talks with the Sri Lankan government and to work for the release of fishermen and the boats under the custody of the Sri Lankan authorities.

    Katchatheevu festival issue

     AIADMK Coordinator and former Tamil Nadu Chief Minister O. Panneerselvam has written to External Affairs Minister S. Jaishankar to intervene in the issue of the participation of Indian devotees at St. Anthony’s church in Sri Lanka’s Katchatheevu.

    Panneerselvam on Saturday said that according to reports, the festival is to be held on March 11 and 12, and the Sri Lankan Government has decided to conduct the festival without the participation of the devotees, which includes fishermen from both India (Tamil Nadu) and Sri Lanka.

    He said that the Sri Lankan government had cited several reasons, including security and the Covid pandemic to conduct the festival without the participation of devotees from Tamil Nadu.

    In the letter, the former Chief Minister mentioned that fishermen from the coastal districts of Tamil Nadu have traditionally undertaken a pilgrimage to St. Anthony’s Church, Katchatheevu in the past and requested Jaishankar to immediately sort out the matter.

    Paneerselvam said that this has caused great frustration among the devotees of the coastal areas of the state.

    Katchatheevu has been a contentious issue with the Sri Lankan Navy arresting fishermen from Tamil Nadu for crossing the International Maritime Boundary Line (IMBL) near the Katchatheevu island. Several Indian fishermen from Tamil Nadu were arrested and many were lodged in jails with their vessels compounded by the Sri Lankan authorities.

    ALSO READ: Adityanath says BJP will win 300-plus seats

  • Lanka moving away from China

    Lanka moving away from China

    Fears have also been rife in Colombo regarding Chinese loans, as the country has previously been forced to hand over strategic projects like Hambantota port to the Chinese on lease…reports Asian Lite News

    Sri Lanka is moving away from China while getting close to India over the failure of Colombo to pay back Chinese loans worth USD 4.5 billion, amidst fears of a “debt trap”.

    Sri Lanka’s credit rating has been downgraded by Fitch Ratings and Moody’s Investors Service due to delays in obtaining new funds, which are necessary to satisfy loan commitments. The country is on the verge of defaulting.

    On January 17, Sri Lankan President Gotabaya Rajapaksa told visiting Chinese Foreign Minister Wang Yi that “it would be a great relief to the country if attention could be paid to restructuring the debt repayments as a solution to the economic crisis that has arisen in the face of the COVID-19 pandemic.”

    However, China rejected the request with Chinese Foreign Ministry Spokesperson Wang Wenbin remarking, “Sri Lanka will surely overcome the temporary difficulties as soon as possible.”

    Over the past few weeks, the country has struggled to pay off its fuel import bills.

    Recently, India also provided financial assistance of 2.4 billion USD to Sri Lanka following a two-day official visit of the Sri Lankan Foreign Minister, GL Peiris to India from February 6 to 8. GL Peiris said that Colombo was committed to special relations with New Delhi.

    Last week on Tuesday, the Indian High Commissioner in Sri Lanka handed over 40,000 MT fuel consignment by Indian Oil Corp Ltd to Sri Lankan Energy Minister, Udaya Gammanpila.

    “#India – a committed partner and a true friend of #SriLanka. High Commissioner handed over 40,000 MT fuel consignment by @IndianOilcl to Hon’ble Energy Minister @UPGammanpila today. India and Sri Lanka partnership continues to work towards energy security of #lka,” the Indian High Commission in Sri Lanka tweeted.

    In October last year, the Department of Agriculture in Colombo detected the highly contaminated organic fertilizer sent by China and cancelled the fertilizer and requested India to export nano nitrogen liquid fertilizer.

    Fears have also been rife in Colombo regarding Chinese loans, as the country has previously been forced to hand over strategic projects like Hambantota port to the Chinese on lease over non-repayment of loans. (ANI)

    ALSO READ: Pakistani rock salt rocks social media

  • Police, defence chiefs cleared in 2019 Easter Sunday attacks

    Police, defence chiefs cleared in 2019 Easter Sunday attacks

    Fernando and Wijesundara who were charged in two separate cases were acquitted by the three judge High Court bench due to lack of evidence….reports Asian Lite News

     Sri Lankas former Defence Secretary Hemasiri Fernando and Inspector General of Police (IGP) Pujitha Wijesundara who were charged on criminal negligence of duty by failing to prevent the 2019 Easter Sunday terror attacks despite receiving specific intelligence information from India, were acquitted on Friday.

    Fernando and Wijesundara who were charged in two separate cases were acquitted by the three judge High Court bench due to lack of evidence.

    They were separately charged on 855 counts each and were accused of criminal dereliction of duty for failing to take action to prevent the Easter attacks on three star-class hotels and three churches.

    At the end of prosecution case, the High Court judges acquitted the two accused without calling the defence trial.

    The court held that the two accused had shared the intelligence information they received from a foreign island to their subordinates and ruled that the prosecution had failed to prove the charges beyond reasonable doubts.

    During the investigation and Presidential Commission it was revealed that India had shared several specific intelligent information with Sri Lanka, starting from April 4, 2019 and last was on the morning of the attacks.

    In the intelligent alerts it was stated that apart from churches, the Indian High Commission in Colombo too could be a target.

    Meanwhile Sri Lanka’s Catholic church complained lack of transparency in investigation and demanded action be taken against former President Maithripala Sirisena and former Prime Minister Ranil Wickremesinghe who according to a commission of inquiry finding, were culpable for the failures to prevent the attack.

    Colombo Archbishop Malcolm Cardinal Ranjith who charged the government of witch-hunting the activists who demand justice for the attack has warned that the church has already complained to the Vatican and would go to international human rights organization to find justice for the victims.

    ALSO READ: Lanka takes steps to bond with India, restrain China

  • Jaishankar-Peiris talks focus on fishers, energy security

    Jaishankar-Peiris talks focus on fishers, energy security

    Both ministers recognized the importance of greater tourism for economic recovery…reports Asian Lite News

    External Affairs Minister (EAM) S Jaishankar on Monday met Sri Lankan Foreign Minister G. L. Peiris in New Delhi and discussed prospects of economic investment initiatives to strengthen the island nation and exchanged views on the fishermen issue.

    Jaishankar said he held productive talks with his Sri Lankan counterpart that focused on additional steps to enhance Sri Lanka’s energy security.

    Both ministers recognized the importance of greater tourism for economic recovery. They also noted the importance of people to people linkages through greater connectivity.

    “Productive talks with Sri Lankan FM G.L. Peiris. Discussed economic and investment initiatives that will strengthen Sri Lanka at this time. Also focused on additional steps to enhance Sri Lanka’s energy security,” Jaishankar tweeted.

    “Exchanged views on the fishermen issue and agreed that bilateral mechanisms should meet early. Recognized the importance of greater tourism for economic recovery. Also noted the importance of P2P linkages through greater connectivity,” he said in a subsequent tweet.

    The minister further added that India-Sri Lanka will mark 75 years of our independence and diplomatic relations in a suitable way.

    Peiris’s three-day visit comes as Sri Lanka is facing economic hardship back home.

    Jaishankar last met Peiris in September last year in New York where they held a comprehensive discussion on the close partnership between the two countries.

    Sri Lanka’s Finance Minister Basil Rajapaksa travelled to India in December last year. His trip focused on measures concerning the economic crisis faced by the island nation.

    Jaishankar had a virtual meeting with Sri Lankan Finance Minister on January 15, where he conveyed that India has always stood with Sri Lanka and will continue to extend support.

    Sri Lankan Foreign Minister’s latest visit comes days after the USD 400 million SAARC currency swap facility was extended to Sri Lanka and the ACU settlement of USD 515.2 million was deferred by two months. Another USD 500 million LOC for the purchase of fuel from India has also been extended. (ANI)

    ALSO READ: Lanka Foreign Minister in India for talks

  • Lanka Foreign Minister in India for talks

    Lanka Foreign Minister in India for talks

    According to the Ministry of External Affairs, a bilateral meeting between Peiris and Jaishankar will take place at the Hyderabad House here on Monday evening….reports Asian Lite News

     Sri Lankan Foreign Minister G.L. Peiris is slated embark on a three-day visit to India on Sunday during which he will meet External Affairs Minister S. Jaishankar and Foreign Secretary Harsh Vardhan Shringla.

    According to the Ministry of External Affairs, a bilateral meeting between Peiris and Jaishankar will take place at the Hyderabad House here on Monday evening.

    Earlier in the day, the Sri Lankan Minister will meet Shringla at the ITC Maurya, a Ministry spokeperson said

    There have been regular Foreign Ministerial exchanges between the two neighbouring nations.

    Jaishankar visited Sri Lanka on November 19, 2019 during which he met President Gotabaya Rajapaksa, who had taken office just a day earlier, then Leader of Opposition Mahinda Rajapaksa and former Prime Minister Ranil Wickremesinghe.

    Sri Lanka’s former Foreign Relations Minister Dinesh Gunawardena visited India in January 2020.

    ALSO READ: India extends $500 mn LOC to crisis-hit Lanka