While stressing the significance of international trade agreements, President Wickremesinghe also underscored the need for Sri Lanka to become a centre for alternate dispute resolution….reports Asian Lite News
Sri Lankan President Ranil Wickremesinghe announced on Tuesday that the island nation would join the Regional Comprehensive Economic Partnership (RCEP) while upgrading Free Trade Agreement with India and entering into new agreements with other countries in the region.
“We will be entering a number of free trade agreements. We have got one with Singapore. We are about to finalize one with Thailand. We are discussing with India of upgrading agreement. Talking with Bangladesh,” President Wickremesinghe said while addressing the 2023 Commercial Mediation Symposium in Colombo.
While stressing the significance of international trade agreements, President Wickremesinghe also underscored the need for Sri Lanka to become a centre for alternate dispute resolution.
He emphasized that success in dispute resolution was crucial for Sri Lanka’s aspirations to be an outward-looking economy.
With the aim of resolving dispute and offshore activities efficiently and fast, the Sri Lankan President has planned to convert Chinese built Colombo Port City as the Colombo Financial Zone while change the Board of Investment (BOI) to an Economic Commission.
“Now we want Sri Lanka to be a centre. One is the new legislation which will replace the port city to make it a Colombo financial zone with jurisdiction for offshore activity. The new law has been drafted. And we will see the light of day before the end of the year,” he said.
Wickremesinghe urged legal professionals to look beyond Sri Lanka’s borders and specialize in emerging fields like AI, Blockchain and green energy to secure the nation’s competitive future.
He further emphasized that Sri Lanka must position itself as the central player in the region. “When examining Singapore as a benchmark, Sri Lanka should strive to match or surpass Singapore in various aspects, except for cost, where it should maintain a competitive advantage. This approach is crucial because there exists a noticeable void in this region, which Sri Lanka can effectively fill if it acts swiftly,” he said.
Ties between India and Canada have been strained after Justin Trudeau on September 18 alleged India’s involvement in the fatal shooting of Khalistan Tiger Force chief Hardeep Singh Nijjar in Canada…reports Asian Lite News
Outgoing Sri Lankan High Commissioner to India Milinda Moragoda has said that India’s response to Canada’s allegations has been “firm and direct” and Colombo supports New Delhi on the matter.
While addressing a press conference, he said that the people of Sri Lanka have suffered due to terrorism and that his country has zero tolerance for terrorism.
On being asked about Canada’s allegations against India, he said, “I think India’s response has been inequitable and also firm and direct. And I think as far as we are concerned, we support India on that. Having said that, also, in my lifetime now, I’m 60 years old, 40 years of my life, we have spent facing various forms of terrorism in Sri Lanka. I have lost many friends, and colleagues to terrorism.
“We have all mean many Sri Lankans have died to terrorism. So, therefore, our position on these matters, I think is very clear because we have endured and we have suffered. And as a country that has gone through that tolerance for terrorism is zero tolerance,” he added.
Ties between India and Canada have been strained after Justin Trudeau on September 18 alleged India’s involvement in the fatal shooting of Khalistan Tiger Force chief Hardeep Singh Nijjar in Canada.
#WATCH | Delhi | On Canada's allegations on India, outgoing Sri Lankan High Commissioner to India Milinda Moragoda says, "I think India's response has been unequivocal and firm and direct. I think as far as we are concerned, we support India on that…40 years of my life have… pic.twitter.com/MpoKcQoLUu
Nijjar, who was a designated terrorist in India, was killed outside a Gurdwara in Canada’s Surrey on June 18. India, however, rejected the allegations, terming them “absurd” and “motivated”.
“We have seen and rejected the statement of the Canadian Prime Minister in their Parliament, as also the statement by their Foreign Minister,” the Ministry of External Affairs (MEA) said in a statement.
“Allegations of Government of India’s involvement in any act of violence in Canada are absurd and motivated,” the MEA added in its statement.
“Similar allegations were made by the Canadian Prime Minister to our Prime Minister and were completely rejected. We are a democratic polity with a strong commitment to the rule of law,” it added.
India also expelled a senior Canadian diplomat in a reciprocal move to Canada expelling a senior Indian diplomat in light of the claim of New Delhi’s involvement in the killing of Nijjar.
On Thursday, Ministry of External Affairs Spokesperson Arindam Bagchi said that the allegations made by Canada regarding the “potential links” of India behind the killing of Khalistani extremist Hardeep Singh Nijjar are “politically driven”.
“Yes, I do think there is a degree of prejudice here. They have made allegations and taken action against them. To us, it seems that these allegations by the government of Canada are primarily politically driven,” Bagchi said while addressing a weekly presser.
The MEA spokesperson further said no information has been shared by Canada regarding the killing of Nijjar.
“We are willing to look at any specific information that is provided to us, but so far we have received no specific information from Canada,” Ministry of External Affairs spokesperson Arindam Bagchi said on Thursday while answering queries. (ANI)
Sri Lankan President asserted that global power conflicts are adding economic uncertainty, disrupting supply chains and causing inflation, food, and energy insecurity worldwide….reports Asian Lite News
Sri Lankan President Ranil Wickremesinghe said on Thursday that countries like Sri Lanka find it hard to remain neutral and non-aligned amidst superpowers’ rivalries and new alliances.
“Neutral nations like Sri Lanka in the global South find themselves caught between shifting global power dynamics,” President Wickremesinghe said while addressing the United Nations General Assembly (UNGA) in New York.
He asserted that global power conflicts are adding economic uncertainty, disrupting supply chains and causing inflation, food, and energy insecurity worldwide.
“The war in Ukraine has far-reaching and severe financial and humanitarian repercussions on food, hunger and debt in all parts of the world including Sri Lanka. It is recalled that the UN Charter vests on powerful states in the Security Council the responsibility to maintain international peace and security and to deescalate rather than ignite conflict,” Wickremesinghe said.
“We need to halt the momentum where this and other big power tensions are spilling over into established areas of international rules-based cooperation forged over decades of multilateral negotiation, ranging from international trade to ocean governance,” he added.
Wickremesinghe also pointed out that despite promises of assistance by rich countries in the area of climate change mitigation which impacts countries such as Sri Lanka, “rich countries have not been delivering to expectations”.
“While key issues such as the Bridgetown Initiative and the necessity to address the debt of low-income countries are being discussed in this Assembly, it is not commanding the attention it deserves,” he said.
“Unfortunately, the Security Council has failed to give priority to these connected issues of climate change, debt relief and sustainable development. This impacts the future of mankind. The survival of the planet must be our priority, we cannot afford to go into this war with a divided high command. The future of all species on the globe is dependent on our ability to put aside our rivalries until this crisis is solved,” he added.
Sri Lanka’s head of state also pledged before the UNGA that his country is committed to climate action.
The project is being executed under an Indian LoC of $318 million at a cost of $14.90 million…reports Asian Lite News
As the only creditor to continue to help Sri Lanka’s crippled Railway, India has completed projects worth over $1 billion with five Indian Lines of Credit (LoC), the Indian High Commission announced on Thursday.
Continuing its support to the crisis hit neighbour, India on Thursday signed an agreement to install signaling system for 66 km railway track from North Central city of Anuradhapura to North-Western province’s Mahoat a cost of nearly $15 million.
The contract for design, installation, testing and commissioning of signalling system for Sri Lanka Railways (SLR) from Maho to Anuradhapura was signed between the Ministry of Transport and Highways of Sri Lanka and IRCON Ltd.
The project is being executed under an Indian LoC of $318 million at a cost of $14.90 million, the Indian High Commission in Colombo announced.
IRCON Ltd is carrying out a $91.27 million project to upgrade 128 km railway line from Maho to former war-ravaged Omanthai. Under this project, while track rehabilitation work from Anuradhapura to Omanthai has already been completed, work on the section from Anuradhapura to Mahois will commence from January 2024.
Addressing the event, High Commissioner of India in Sri Lanka, Gopal Baglay stressed the significance of the signaling project for easing movement of the people of Sri Lanka, accelerating economic recovery of the country and strengthening the cooperation between the two countries.
He highlighted that the LoC for this project in the current situation symbolises the continued desire of the government and the people of India to stand with the people of Sri Lanka.
Sri Lanka’s Transport Minister Bandula Gunawardane thanked Prime Minister Narendra Modi and the Government of India for supporting Sri Lanka in multiple ways, especially during the economic crisis last year.
“Sri Lankan railway projects have received support in the form of LoC in recent times only from India,” Gunawardane said.
IRCON Ltd has completed several projects in Sri Lanka with Indian assistance and has contributed significantly towards rehabilitation and modernisation of Sri Lanka Railways.
One of the main loss making government institutions of the island nation, SLR suffered with the worst ever economic crisis with no way to carry out most essential maintenance work.
The lack of maintenance had led to regular signal failures and train derailments with record 117 train derailments in 2022.
He asserted that global power conflicts are adding economic uncertainty, disrupting supply chains and causing inflation, food, and energy insecurity worldwide…reports Asian Lite News
Sri Lankan President Ranil Wickremesinghe said on Thursday that countries like Sri Lanka find it hard to remain neutral and non-aligned amidst superpowers’ rivalries and new alliances.
“Neutral nations like Sri Lanka in the global South find themselves caught between shifting global power dynamics,” President Wickremesinghe said while addressing the United Nations General Assembly (UNGA) in New York.
He asserted that global power conflicts are adding economic uncertainty, disrupting supply chains and causing inflation, food, and energy insecurity worldwide.
“The war in Ukraine has far-reaching and severe financial and humanitarian repercussions on food, hunger and debt in all parts of the world including Sri Lanka. It is recalled that the UN Charter vests on powerful states in the Security Council the responsibility to maintain international peace and security and to deescalate rather than ignite conflict,” Wickremesinghe said.
“We need to halt the momentum where this and other big power tensions are spilling over into established areas of international rules-based cooperation forged over decades of multilateral negotiation, ranging from international trade to ocean governance,” he added.
Wickremesinghe also pointed out that despite promises of assistance by rich countries in the area of climate change mitigation which impacts countries such as Sri Lanka, “rich countries have not been delivering to expectations”.
“While key issues such as the Bridgetown Initiative and the necessity to address the debt of low-income countries are being discussed in this Assembly, it is not commanding the attention it deserves,” he said.
“Unfortunately, the Security Council has failed to give priority to these connected issues of climate change, debt relief and sustainable development. This impacts the future of mankind. The survival of the planet must be our priority, we cannot afford to go into this war with a divided high command. The future of all species on the globe is dependent on our ability to put aside our rivalries until this crisis is solved,” he added.
Sri Lanka’s head of state also pledged before the UNGA that his country is committed to climate action.
The chairman of the organisation, C. Kamantha Thushara, complained that there is a serious suspicion over match fixing as Sri Lanka was all out for 50 runs within just 15.2 overs…reports Asian Lite News
Cricket fans and anti-corruption activists have demanded for a police probe on malpractices and alleged match fixing over Sri Lanka’s humiliating defeat against India at the Asia Cup final on Sunday.
A civil rights organisation, Citizen Power Against Bribery, Corruption and Wastage filed a complaint at the Police Headquarters in Colombo alleging that there is a serious suspicion over Sri Lankan cricketers’ performance and specially getting out for such a small number of runs.
The chairman of the organisation, C. Kamantha Thushara, complained that there is a serious suspicion over match fixing as Sri Lanka was all out for 50 runs within just 15.2 overs.
“Within 19 minutes in 15 overs, 50 runs were scored. This is one run per over in the 50 over game. There are suspicions in the way the cricketers play in that game. While fans were at the queues to enter the ground, the match was over,” Thushara charged.
“We are suspicious about Sunday’s game and we want an immediate investigation. With an extensive investigation including telephone conversation recordings of the Sri Lanka Cricket (SLC) officials and players should be done. Cricket has become a gamble that was ruled by money. The SLC is corrupt and there is a responsibility on the Sports Minister to investigate on this,” the organisation complained.
“If a school team played, there would have been much more runs in the scoreboard,” the chairman charged.
While India recorded the eighth and the most Asia Cup ODI victories, Sri Lanka recorded the lowest-ever total in the Sub Continent tournament.
Siraj grabbed his five-wicket haul in 16 balls by getting late movement at a fuller delivery to swing past Dasun Shanaka’s outside edge and sent the off-stump on a cartwheel ride….reports Asian Lite News
Mohammed Siraj became only the second bowler to take a six-fer in a men’s ODI Asia Cup final after Ajantha Mendis, as he picked a career-best 6-21 in a deadly spell to set up India’s eighth title with a ten-wicket thrashing of Sri Lanka at the R Premadasa Stadium here on Sunday.
After play resumed at 3:40 pm, due to rain delaying the start, Siraj got massive help from movement off the pitch, making the ball talk both ways and leaving Sri Lanka batters bamboozled to pick a magnificent career-best 6-21 in seven overs, including four scalps coming in his second over of the game.
Apart from Siraj blowing away Sri Lankan batters and becoming first Indian bowler to take four wickets in an over, Hardik Pandya took three wickets while Jasprit Bumrah had a scalp to his name as the Indian fast-bowlers took all ten wickets in bowling out Sri Lanka for just 50, their second-lowest ODI total and the least they have scored in the format against India, as well as in the Asia Cup.
Bumrah gave India a dream start by enticing Kusal Perera to chase a wide, away-swinging delivery and the left-handed batter nicked behind to wicketkeeper K.L. Rahul moving to his left.
Siraj’s first over saw him bowl six outswingers and beat the batters four times, showcasing his accuracy and consistency, two constant pillars in him inflicting the perfect carnage on Sri Lankan batters, apart from varying his release points to bowl a nagging line and length.
On the first ball of his second over, Siraj bowled an outswinger yet again and Pathum Nissanka could drive only to backward point, who moved to his right to complete the catch.
A dot ball later, Siraj trapped Sadeera Samawickrama lbw with a sharp nip-backer beating the inside edge and striking the batter in front of stumps.
On the very next ball, Charith Asalanka chipped the first ball he faced straight to cover point. Dhananjaya de Silva survived the hat-trick ball by punching Siraj past mid-on for four. But Siraj had the last laugh as de Silva pushed at an outswinger, giving a faint edge behind to take a catch.
Siraj grabbed his five-wicket haul in 16 balls by getting late movement at a fuller delivery to swing past Dasun Shanaka’s outside edge and sent the off-stump on a cartwheel ride.
Seeing the carnage from the other end, Kusal Mendis tried to get Sri Lanka’s innings back on track from 12/6 by taking two boundaries square of the off-side against Bumrah.
But Siraj grabbed his sixth wicket by getting one to nip back in from outside off and castle Mendis through the gate, to grab the best figures by a fast-bowler in the men’s ODI Asia Cup. Pandya joined the wicket-takers list by bouncing out Dunith Wellalage, giving Rahul a simple catch on the top edge. He took out the remaining two wickets to end Sri Lanka’s innings at 50 in 92 legal balls.
Chasing a paltry 51, India sent Ishan Kishan to open alongside Shubman Gill, who completed the chase with 263 balls remaining. Gill began by nonchalantly flicking Pramod Madushan for four, and Kishan ramped and slashed Matheesha Pathirana for back-to-back fours.
Gill feasted on Madhushan’s deliveries by nailing a drive, punching past point and slamming a pull to take three boundaries off him to race through the chase.
He and Kishan took a four each off Pathirana via a flick and drive respectively, followed by Gill hitting a scintillating drive off Wellalage for four and Kishan taking the single to seal India’s easy win in just 37 deliveries.
Brief scores:
Sri Lanka 50 all out in 15.2 overs (Kusal Mendis 17; Mohammed Siraj 6-21, Hardik Pandya 3-3) lost to India 51 for no loss in 6.1 overs (Shubman Gill 27 not out, Ishan Kishan 23 not out) by 10 wickets
Colombo, Sep 17 (ANI): India’s Vice-Capain Hardik Pandya and Mohammed Siraj during the Asia Cup 2023 final match against Sri Lanka, at R.Premadasa Stadium, in Colombo on Sunday. (ANI Photo)
Siraj’s Swinging Spell Decimates Sri Lankan Batters
The alert was for rain and thunderstorms in Colombo, but once rain ceased after delaying proceedings by 40 minutes, Sri Lanka were blown away by a storm unleashed by Mohammed Siraj.
Siraj got massive help and movement from the pitch, making the ball talk both ways and leaving Sri Lanka batters bamboozled to pick a magnificent career-best 6-21 in seven overs, including four scalps in his second over of the game.
“I have been bowling well for a while. The batters were getting beaten for the last two matches, today I found the edges. I just tried to hit the areas. The wicket was seaming for the last two matches, today there was swing so I tried to make the batters play as much as possible.”
“Because it was swinging, I thought of putting the ball up to the batters. The way I thought, I executed it and the plan was successful. The pitch was very good, was getting decent swing early, and I felt it was a bit damp,” he said in the post-match presentation ceremony.
In a heartfelt gesture, Siraj also dedicated his Player of the Match prize money to the stellar groundstaff in Sri Lanka for working tirelessly amidst multiple rain interruptions in the tournament.
“When the fast bowler’s bonding is so good that the pressure is created and we get wickets at the other end, it helps the team. Just wanted to save the boundary, but it didn’t happen (on the hat-trick ball). Definitely my best spell. I want to give this cash prize to the groundsmen. They deserve it. If they were not around, this tournament would not have been successful.”
Left-arm wrist-spinner Kuldeep Yadav was named Player of the Tournament for his nine wickets.
“The last year and a half has been amazing, I’m enjoying my bowling. In T20 format just focus on the length and not on the wickets, but in ODIs, you can vary your length and try lot more different things.”
“Been working on my speed and angles with my coach after my injury. More aggressive and it’s coming very nicely. When the fast bowlers bowl like that it’s very easy for a spinner to come and bowl.”
As the ship arrived on September 14, the Sri Lankan Navy gave a rousing welcome with naval traditions….reports Asian Lite News
The highly advanced Indian Naval Ship ‘Nireekshak’ arrived at the port of Trincomalee to facilitate Mixed Gas Diving training for the Sri Lanka Navy, according to the press release from the Indian High Commission in Colombo.
As the ship arrived on September 14, the Sri Lankan Navy gave a rousing welcome with naval traditions.
According to the release, after the arrival of the ship, the Commanding Officer of the Indian Naval ship, Commander Jeetu Singh Chauhan called on the Commander of Eastern Naval Area, Rear Admiral PS De Silva and held cordial discussions on further training in diving during the eight-day deployment.
In the eight-day deployment, the officials onboard are scheduled to have engagements such as Yoga, interaction with School children and beach cleaning.
As per the press release, the Indian Naval Ship ‘Nireekshak’ (A-15) is equipped with two six-man recompression chambers and one three-man diving bell.
The ship is fully capable of undertaking rescue operations from a submarine in distress and training of saturation divers. The ship had earlier visited Trincomalee in September 2019 and March 2022 for a similar training deployment for SLN divers.
Such continued engagement of Indian Naval ships with the Sri Lanka Navy is in keeping with the Government of India’s capacity-building initiative as part of its ‘Neighborhood First’ policy. (ANI)
Pandey expressed hope that the Sri Lankan government would address Tamil aspirations by implementing the 13th Amendment and conducting Provincial Council Elections…reports Asian Lite News
India has called on the Sri Lankan government to “work meaningfully” towards promptly fulfilling its commitments to safeguard the basic rights and freedoms of all its citizens, particularly the Tamil community.
Ambassador Indra Mani Pandey, India’s Permanent Representative to the United Nations in Geneva, emphasised India’s historical support for Sri Lanka’s post-2009 relief, rehabilitation, resettlement, and reconstruction efforts.
He outlined India’s guiding principles of supporting Tamil aspirations for equality, justice, and peace, as well as respecting the unity, territorial integrity, and sovereignty of Sri Lanka.
Pandey expressed hope that the Sri Lankan government would address Tamil aspirations by implementing the 13th Amendment and conducting Provincial Council Elections. The 13th Amendment, established after the India-Sri Lanka agreement in 1987, established nine provinces as devolved units with a temporary merger of the Northern and Eastern provinces.
However, elections for these provinces have been on hold since 2018 due to proposed electoral reforms, requiring a parliamentary amendment to proceed under the existing proportional representation system.
While acknowledging Sri Lanka’s reaffirmation of its commitments, Pandey noted that progress in this regard had been insufficient. India encouraged Sri Lanka to take meaningful actions to protect the fundamental freedoms and human rights of all its citizens. Pandey also highlighted India’s significant financial support, exceeding USD four billion, to help Sri Lanka overcome its economic challenges in the past year.
During Sri Lankan President Ranil Wickremesinghe’s visit to India in July, both leaders issued a Vision Statement on Connectivity, emphasizing the importance of a robust India-Sri Lanka economic partnership for inclusive growth and reconciliation. Finally, Pandey expressed condolences for the recent earthquake in Morocco, which resulted in the loss of many lives.
The central bank said the headline inflation is expected to moderate further over the next few months….reports Asian Lite News
Sri Lanka’s domestic economic activity is expected to recover in the second half of this year, Central Bank of Sri Lanka said in a statement on Thursday.
As per the central bank, in the overall context, leading indicators of economic activity point to a lower contraction in gross domestic product (GDP) in the second quarter of this year, compared to the previous projections, while the second half is expected to record a positive growth, compared to the same period of last year, Xinhua news agency reported.
The recovery would be supported by normalisation of monetary conditions, improvement in business confidence, enhancement in supply conditions, relaxation of import restrictions, and the impact of growth-promoting structural reforms.
“However, the impact of weather related disruptions and modest external demand conditions could weigh on expected growth in the near term,” the statement said.
The central bank said the headline inflation is expected to moderate further over the next few months.
“The trade deficit decreased notably during the seven months ending July 2023 with a significant decrease in merchandise imports, despite the decrease in merchandise exports,” it said.
Earnings from tourism and workers’ remittances, which increased considerably in the January-July period, are expected to rise further, it added.
Meanwhile, with multiple deadlines’ extensions given by Bangladesh, Sri Lanka has started repaying currency swap taken from Bangladesh with the first installment of $50 million.
Sri Lanka’s State Finance Minister Shehan Samasinghe announced that the repayment of the loan has been started and on the plans on the upcoming installments of $100 million and final installment of $50 million.
Having undergone a severe financial crisis in 2021, Sri Lanka had borrowed $200 million from the Central Bank of Bangladesh under a currency swap deal.
Though the repayment was promised within three months, aggravated economic crisis in Sri Lanka turned to a political upheaval with the sitting government was forced to abandon and the President to flee the country. Thus, Sri Lanka sought several extensions for the repayment.
The original repayment had been promised between August and November 2022 but Sri Lanka had asked for extra deadlines. However, Sri Lanka has been paying the interest every three months.
Bangladeshi media reported quoting Bangladesh Bank Executive Director and spokesperson Mezbaul Haque that of the $200 million loan given to Sri Lanka, an installment of $50 million had been settled.
“Another installment is due later this month. We expect them to repay the loan in full within this year,” the spokesman had said.
Slowly recovering the worst-ever financial crisis since the independence in 1948, Sri Lanka sees overseas remittances are surging and coming out of the dollar crunch specially with the catching up of tourism, one of the main foreign income generators of the Indian Ocean island nation.
Meanwhile on Monday, Sri Lanka’s Department of Census and Statistics announced that the overall rate of inflation has dropped by almost 50 per cent to 4.6 per cent in July 2023 compared to the previous June which recorded 10.8 per cent. The inflation had dropped to a single digit after 21 months.
