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The following is the full statement issued by UNP MP Karu Jayasuriya yesterday: The Government has stated that they do not suppress peaceful demonstrations. However this statement was made after suppressing the demonstration held during last week by unarmed masses and political parties demanding the Government to reduce the price of fuel and the cost ...
By Dinali Goonewardene President of the Chamber of Construction Deshabandu Surath Wickramasinghe voiced concern that costs for the industry would rise 10-15% with the fuel hike and rise in exchange rate. “The cost of transporting building material to the North and East will impact input costs,” he said, adding that staff costs too would rise. ...
UNP demands closure of Mihin Lanka and halt inconstruction of new tower UNP MP Dr. Harsha de Silva yesterday demanded that the Government give subsidies that will support families with the increasing prices. On the kerosene subsidy that the State said would be given, he noted that Rs. 200 was inadequate to support rising costs. ...
Contrary to exaggerated claims the EPF investments in to the stock market last week had amounted to only less than 10% of market activity and unlike some past contentious buys, this time around it had focused on blue chips. The total turnover of the Colombo bourse last week was Rs. 8.6 billion and local purchases ...
Amidst furor over fuel price hike and protests by fishermen President Mahinda Rajapaksa made an inspection tour to a relatively calm Tangalle Fishing Harbor where he had a close look at the day’s catch before their sale Pic by Chandana Perera
EPF and stock market I was sad to see in the FT that EPF has begun to purchase stocks in the market again. Is it to give the market a boost or is it to fatten someone’s pocket again, as some people claim? It was not very long ago that the fund made so much ...
NEW DELHI, Feb 20 (Reuters) – India’s aviation regulator has summoned top executives of Kingfisher Airlines to explain large number of flight cancellations since Saturday, even as the aviation minister ruled out providing any aid to the loss-making carrier. On Saturday, 32 out of the 240 flights that Kingfisher operates each day were cancelled and ...
Reuters: Cash-strapped Kingfisher Airlines said it has been forced to reduce operations due to "unexpected events" but promised to resume normal services within the next four days. The company, controlled by liquor baron Vijay Mallya, has cancelled 32 flights out of the 240 it operates each day, hit by problems including bird strikes which forced ...
By Yohan Perera The main opposition UNP yesterday requested the Government to credit the funds allocated to provide subsidies to the fisher folk to the Ceylon Petroleum Corporation so that it would help bring down fuel prices. This suggestion had been made by the fishermen’s organisations that rejected the subsidy offered by the government in ...
Sharp reduction in vegetables prices thanks to higher output could help soften an otherwise sharp spike in inflation following the unprecedented fuel hike and devaluation of the rupee, according to analysts. In recent weeks, prices of vegetables have dropped by as much as 50% or more and this development will make the additional cost following ...
Reuters: Israeli Defence Minister Ehud Barak said on Saturday a nuclear-armed Iran would trigger an arms race in the Middle East and nations should impose “crippling” sanctions on Tehran to force it to give up its atomic programme. “A nuclear Iran is a threat to the whole world, not just to Israel … Other major ...
Reuters: Asian shares rebounded on Friday on signs that euro zone officials will soon approve a long-awaited bailout for Greece, and after jobs and factory data pointed to a healthier U.S. economy. Financial bookmakers expected European stocks to track Asian shares higher, with financial spreadbetters calling the main indexes in London .FTSE, Paris .FCHI and ...
Reuters: Iran, facing sanctions that could cripple its oil exports, has told world powers it wants to resume long-stalled talks with “new initiatives”, and France said it might be open to addressing suspicions about its nuclear programme. Tehran made the offer in a letter to the EU’s foreign policy chief obtained by Reuters on Thursday, ...
Police yesterday fired tear gas and water cannons to disperse thousands who participated in a UNP-organised protest against the crisis following the unprecedented rise of fuel prices as well as overall mismanagement of the economy. UNP members gathered opposite the Fort Railway station shouting slogans, blaming the Government for burdening the people via the fuel ...
The third edition of Jaffna International Trade Fair 2012 was held recently at Durayappah Stadium, Jaffna. This event showcased a wide range of products and services from various industries and brought together the business community in the Northern territory. The Nations Express Centre offered visitors an opportunity to experience a range of financial products such ...
Sri Lanka’s cricketing fortunes seem to be changing of late. The team’s better performance has raised hopes among many fans, while the Sports Ministry’s decision to finally pay the cricketers through a Rs. 600 million loan from the Bank of Ceylon will raise moral still higher. The financial fallout that resulted from the co-hosting of ...
A fisherman was shot dead allegedly by the law enforcement authorities during protests in Chilaw on Wednesday. While this finally pushed the Government into giving fuel subsidies for the fishermen, a graver problem has opened up with fishermen continuing to protest – for justice. It has been reported that several eyewitnesses saw Police and Army ...
UNP MP Karu Jayasuriya has condemned the repressive action on the part of the Government to deal with worsening plight of the people following the unprecedented fuel hike. Here is the full text of Jayasuriya’s statement. The present Government came into power promising to dawn a glorious future to the country and its people. ...
ASI gains by 5% as Bourse’s value swells by Rs. 96 b Brokers positive after fresh meeting with SEC EPF, private institutional and high networth investors active on attractive valuations The Colombo stock market yesterday produced a major rebound gaining by 5% thanks what some described as “spirited support” whilst others emphasised it was largely due ...
By Uditha Jayasinghe Despite a fuel adjustment charge coming into effect from midnight yesterday, the Ceylon Electricity Board (CEB) will remain in the dark with a whopping Rs.97 billion subsidy from the Government. The Public Utilities Commission (PUC), while announcing its new fuel adjustment charges, told the media that the CEB expense is projected at ...
One person was killed and several others received injuries during a demonstration held by the fishermen in Chillaw yesterday against the fuel price hike, the police said. Sri Lanka Police Media Spokesperson Superintendent of Police Ajith Rohana said an individual died due to gunshot injuries at an unruly protest held in Chilaw. The police had ...
Reuters: Britain’s top-notch credit rating may survive the threat of a downgrade because economists still believe in London’s resolve to erase a huge budget deficit and the central bank’s ability to print money. Rating agency Moody’s imposed a negative outlook on Britain’s triple-A rating late on Monday — the first such warning on London’s debt ...
SRI LANKA is still electrified by the unprecedented fuel hike and the fallout continues to grow. On Wednesday a fishermen was shot dead as protestors clashed with the police in Chilaw prompting the Government to issue an immediate subsidy. JVP protesters were tear-gassed and the Political rhetoric continued for a fourth day as the Government ...
The main opposition United National Party (UNP) has planned a massive protest against the Government tomorrow, according to UNP General Secretary Tissa Attanayake. A mass meeting is to be held opposite the Colombo Fort railway station at 3p.m. on 17 February, and the protest is mainly against the recent increase of fuel prices by the ...
By Chamitha Kuruppu Police fired tear gas and used water cannons to prevent a protest by Janatha Vimukthi Peramuna (JPV) in Maligawatta yesterday evening. JVP parliamentarian Sunil Hadunneththi was injured during the tense situation. According to JVP parliamentarian Vijitha Herath a tear gas bullet has hit Handunneththi’s forehead. The JVP had organised the demonstration ...
(Bloomberg): Sri Lanka doesn’t need to further tighten monetary policy for now even though an increase in fuel and transportation costs and a weakening currency may stoke inflation, the head of the central bank said. The central bank’s rate increase earlier this month will have a “demand-driven impact” and help moderate inflation, its Governor Ajith ...
Sri Lanka’s benchmark stock index, the world’s worst performer this year, may extend its slump as the central bank raises interest rates to curb inflation, according to HSBC Holdings Plc’s private banking unit. HSBC Private Bank, which oversees about $499 billion, will wait for stock valuations to fall to “single digit” multiples before it considers ...
Opposition politicians yesterday resorted to travelling by bullock carts in several parts of the country, protesting the unprecedented fuel price hike. Here three UNP Councillors of the Southern Provincial Council, Bandulalal Bandarigoda, Wijepala Hettiarachchi and Krishantha Pushpakumara and others head to the council meeting in bullock carts – Pic by Athula Bandara
TKS Securities yesterday described the fuel price revision by the Government as a bold move though it will have an impact on inflation. “We consider the ret action which has sent shockwaves amongst the masses,” the broking firm said an economic update. “Given the current global and domestic economic scenario we believe the Sri Lanka ...