CBSL targets over $ 9 b inflows in next 6 months
Similarly, over the period from January to March 2022, the targeted foreign exchange inflows stand at $ 5.35 billion, with the GoSL expecting to negotiate for $ 4.40 billion and the CBSL for $ 0.95 billion. However, the Six-Month Road Map issued by the CBSL fails to set out any particulars as to the exact sources of such targeted foreign inflows. Moreover, the targeted foreign exchange inflows over the next six months by the CBSL do not make any reference to forex inflows from the International Monetary Fund (IMF), possibly indicating that the CBSL doesn’t expect Sri Lanka to enter into an IMF programme during the next six months. However, it should be noted that the summary timeline of targeted fresh forex inflows set out by the CBSL provides for forex inflows of $ 700 million from multilateral loans. Reserve management is not only dealing with the reserves we have, but dealing with the inflows as well.
Source:The Nation
October 03, 2021 18:56 UTC
Pizza Hut Sri Lanka is blazing a trail for inclusivity in the food industry
Inclusivity at the workplace, on a practical and day-to-day level, often stops just shy of Persons with Disabilities (PWDs). At Pizza Hut Sri Lanka, inclusivity regardless of race, religion, gender, disability, or any other grounds is much more than just a buzzword to be paid lip service to. Pizza Hut Sri Lanka’s tireless work to drive inclusivity for PWDs within the workplace has been recognised on a global level by the global Pizza Hut brand, with Pizza Hut Sri Lanka being awarded the Equity & Inclusion Award at the first-ever Pizza Hut Global People & Purpose Summit 2021, with a cash award of $ 5,000. Brands – who operates Pizza Hut worldwide – Chief Equity and Inclusion Officer James Fripp said: “Pizza Hut Sri Lanka has been fighting systemic inequality by improving the lives of the disadvantaged groups of their country, people with hearing disabilities. PWDs and Pizza Hut Sri Lanka’s exemplary people practiceSpeaking on what led to Pizza Hut Sri Lanka making such progress in terms of equity and inclusivity with PWDs, Mendis explained that from the start, the approach Pizza Hut Sri Lanka took was systematic and designed to differ from the norm.
Source:The Nation
October 03, 2021 18:33 UTC
Expo 2020 kicks off in Dubai
The first World Expo to be held in the Middle East, Expo 2020 Dubai, opened last Friday (1) with a ceremony of fireworks, music, and a message about the power of global collaboration for a more sustainable future. Dubai, the region’s tourism, trade, and business hub, is hoping to boost its economy by attracting 25 million business and tourist visits to the World Expo which has been built from scratch on 4.3 km2 of desert. Many countries and companies are also looking forward to the Expo – the first major global event open to visitors since the coronavirus pandemic – to boost trade and investment. Chosen eight years ago to follow the 2015 Expo in Milan, Italy, the event cost around $ 6.8 billion. However, Expo still officially expects to attract more visits than Milan received and more than twice the population of the UAE.
Source:The Nation
October 03, 2021 18:33 UTC
ASPI gains over 39% in first nine months
ASPI closed the quarter at 9,459.94CSE on an all-time-high record-breaking spree last weekBY Shenal FernandoThe CSE closed out the month of September with another all-time high as the ASPI closed at 9,459.94 (on 30 September), up 39.7% Year To Date (YTD), bringing to an end what has been a historic nine months for the CSE. During the month of September itself, the ASPI went on to break its all-high record four more times. The CSE would go on to break its all-time high record three more times over three consecutive days from 28-30 September. Similarly, on 29 September, the ASPI went up a further 102.03 points to close at 9,434, however, with a turnover of Rs. And on 30 September the ASPI closed at 9,459.94, up 26.17 points from the previous day’s close.
Source:The Nation
October 03, 2021 18:33 UTC
CCPI inflation dips in September
The Colombo Consumer Price Index (CCPI)-based inflation has decreased to 5.7% in September 2021, stated the Department of Statistics of the Central Bank of Sri Lanka (CBSL). The decrease has taken place in terms of headline inflation as measured by the year-on-year (YoY) change in the CCPI, which decreased to 5.7% this month from 6% in August 2021. Subsequently, food inflation (YoY) decreased to 10% in September 2021 from 11.5% in August 2021, while non-food inflation (YoY) increased to 3.8% in September 2021 from 3.5% in August 2021. When it comes to the monthly change of CCPI, it is recorded at 0.47% in September 2021, due to price increases observed in items of both food and non-food categories. The CCPI, which is measured on an annual average basis, increased to 4.5% in September 2021 from 4.3% in August 2021.
Source:The Nation
October 03, 2021 18:33 UTC
Litro quits Siyolit, moots new solution
“We have officially stepped back from Siyolit, and we are not willing to work with Laugfs Gas (Pvt.) Litro has been consistently supplying the consumers with gas, while Laugfs Gas cannot even be found in the market. The SPV was also meant to include directors from both Litro Gas and Laugfs Gas. Jayasundara by Litro, he had informed Litro to propose an alternative solution to replace the proposed SPV. Thus, the Unity warned that if the Treasury Department does not grant monetary assistance to purchase LPG, Litro Gas will not be able to import LPG from November onwards.
Source:The Nation
October 03, 2021 18:00 UTC
India, Sri Lanka begin 12-day joint military exercise
A contingent of 120 Army personnel of the Indian Army arrived at Mattala International Airport last Saturday (2) to participate in the eighth consecutive iteration of the joint “Mitra Shakti” exercise between Sri Lanka and India, set to begin today (4). Two years after its seventh edition was held at Foreign Training Node in Pune, the eighth edition of India-Sri Lanka bilateral joint exercise, Mitra Shakti, will be conducted at Combat Training School, Ampara in Sri Lanka for 12 days, from 4-15 October. An all-arms contingent of 120 personnel of the Indian Army is participating in the exercise, along with a battalion of the Sri Lankan Army. The seventh edition was conducted at Foreign Training Node, which is located at the Aundh Military Station in Pune, in December 2019. In the seventh edition, a contingent from the Kumaon Regiment of the Indian Army and the Gemunu Watch infantry regiment of Sri Lanka had participated.
Source:The Nation
October 03, 2021 18:00 UTC
Two types of Sinopharm recipients to get 3rd dose
By Buddhika SamaraweeraUnder the programme of administering a third dose of the Covid-19 vaccines, out of those who received the Chinese-made Sinopharm vaccine, those over 60 years of age and those below 60 years who suffer co-morbidities will be given a third dose, the Health Ministry confirmed. Now we have to order the vaccines and see how much we are going to get, since there is a huge demand for the Covid-19 vaccines at present. Only once a particular amount of vaccine is received can we decide on how this programme should be implemented,” he added. “In May this year, we signed an agreement based on the ACCD’s recommendations to secure four million Pfizer-BioNTech doses for children, and 14 million extra doses. We have already paid the cost for the four million Pfizer-BioNTech doses, all of which will be in the country by the end-October.
Source:The Nation
October 03, 2021 17:48 UTC
Road rage Army Officer arrested and bailed
“The 31-year-old motorcyclist had knocked the side mirror of the vehicle that the Army officer was travelling in. However, the motorcyclist has refused to be transferred, citing that he is in good health,” explained SSP Thalduwa. A video circulating on social media shows the Army officer being accused by a crowd of people of assaulting a young man until he allegedly “vomited blood”, following a road accident between the pair. SSP Thalduwa added that the three people involved in the accident had been summoned to the Police, where the Army officer was arrested on charges of assault and his driver was arrested for hindering the vehicle movement of the motorcyclist. “The motorcyclist has volunteered to not pursue the case of assault,” SSP Thalduwa further said.
Source:The Nation
October 03, 2021 17:48 UTC
Only 25% private buses are running
By Buddhika SamaraweeraOnly about 25% of private buses are currently operating, despite reopening the country, the Lanka Private Bus Owners’ Association (LPBOA) President Gemunu Wijeratne has claimed, and called for a formal programme to ensure the continued operation of public transport, even in the midst of the Covid-19 pandemic. “Although the country was reopened, only about 25% of private buses are operating at present and it has caused many hardships for the passengers. The Government should intervene immediately and formulate a programme to ensure that public transport services are maintained even in the prevailing Covid-19 situation,” he added. He further went on to say: “When the number of buses in operation decreases, there is a congestion in the running buses. So what needs to be done is to increase the number of buses running, not to reduce them.
Source:The Nation
October 03, 2021 17:48 UTC
Pandora Papers data leak reveals secret wealth of world leaders
The secret wealth and dealings of world leaders, politicians and billionaires has been exposed in one of the biggest leaks of financial documents, BBC reports. Some 35 current and former leaders and more than 300 public officials are featured in the files from offshore companies, dubbed the Pandora Papers. They said it was common practice for high profile individuals to purchase properties via offshore companies for privacy and security reasons. Among the other revelations in the Pandora Papers:• Kenya President Uhuru Kenyatta and six members of his family secretly owned a network of offshore companies. The Pandora Papers is a leak of almost 12 million documents and files exposing the secret wealth and dealings of world leaders, politicians and billionaires.
Source:The Nation
October 03, 2021 16:52 UTC
LPL transparency at stake over questionable deals
LPL transparency at stake over questionable deals By Champika Fernando Were proper protocols followed in naming new franchise owner for Jaffna and US$ 10mn TV rights deal? View(s): View(s):Serious concerns have been raised over the transparency of the process that selects franchise owners and the broadcaster for Lanka Premier League (LPL) following recent developments. It also announced a new owner for Jaffna Stallions, the inaugural champions of the five-team tournament. However, no dispute resolution mechanism was utilised and communications from multiple lawyers of Jaffna Stallions have not been responded to. Despite this, in August, IPG has sent a term sheet which Jaffna Stallions had duly signed, agreeing to payment terms.
Source:Sunday Observer
October 03, 2021 02:15 UTC
Sunny Side Up: Wimalaweera’s outburst
State Minister Wimalaweera Dissanayake had lashed out at governing Sri Lanka Podujana Peramuna (SLPP) MPs during a fiery argument that broke out between him (Dissanayake) and other SLPP MPs at a meeting held at the Dehiattakandiya Town Hall last week. Dissanayake had taken to the stand amidst hooting and had lashed out at SLPP protesters using profanity. Police Media Spokesperson SSP Nihal Thalduwa, speaking to the media, said there was a brawl at the political meeting which was quickly dispersed by the area police officer in charge. In attendance at the meeting were other SLPP MPs, including former State Minister of Prison Management and Prisoners’ Rehabilitation Lohan Ratwatte.
Source:The Nation
October 02, 2021 19:41 UTC
Sunny Side Up: FR against liquor stores opening
Tomorrow (4), the Supreme Court is to take up a fundamental rights (FR) petition that was filed by the President, Vice President, and Secretary of the United National Society of Self-Employed against the move to open liquor stores during the quarantine curfew that was in place till Friday (1) morning. The petitioners sought an interim order directed to the authorities so that the opening of liquor stores would be prevented. It was noted in the application that the opening of liquor stores was a violation under certain laws of the Quarantine and Prevention of Diseases Ordinance. During court proceedings last week, Counsel Eraj De Silva, who appeared for the petitioners, had pointed out that the move to open liquor stores was in violation of Article 12(1) of the Constitution. He had further urged the court to expeditiously put forward the interim orders, as it was a matter of national interest.
Source:The Nation
October 02, 2021 19:41 UTC
Sunny Side Up: Youths to stand against monks?
Governing Sri Lanka Podujana Peramuna (SLPP) General Secretary MP Sagara Kariyawasam called on youths to take a stand against obstacles to the country’s development programme. Kariyawasam had told the media last week that the youths of the country should stand against any person who obstructs the country’s development agenda and that investments were needed for the country’s development. Referring to the opposition by Buddhist monks to the construction of jogging/walking paths along reservoirs, the SLFP General Secretary had questioned whether the Buddhist monks had objected when walking paths were being built in countries like Singapore and Malaysia.
Source:The Nation
October 02, 2021 19:41 UTC