• Tourism head appointed as market regulator

    Former chairman of Sri Lanka’s tourism, Nalaka Godahewa has been announced by the government as the new market regulator for the country - the chairman of the Securities and Exchange Commission (SEC).

    His predecessor, Tilak Karunaratne, resigned in early August citing widespread market malpractice and impunity. Many investors have claimed that stock exchange is over regulated and Godahewa’s “market friendly” charisma has hopes to succeed. 

    But some have noted that regulations will be difficult to enforce even under the new chief as investors are powerful enough to fend off any probes.

  • The victor's tutelage

    After three years of rehabilitation and reconciliation through the state discliplined media and having the military on your doorstep, Sri Lanka recently took to doing a spot-check, looking for the tell-tale signs of those who just refuse to learn the 'truth'.

  • TN parties slam Delhi’s defence of training Sri Lankans

    Tamil Nadu Chief Minister J. Jayalalitha and other party leaders have slammed Union Minister of State for Defence M M Pallam Raju, for saying that India would continue to provide training to Sri Lanka since it was a friendly nation.

  • Interviews for formal executioners
    Sri Lanka’s Prison Department will be interviewing over 150 candidates to find two executioners, reports Colombo Page.

    The death penalty has not been implemented since 1976. With 357 prisoners currently on death row, and 1164 since 2004, many have served over 15 years in prison just waiting for their sentences to be carried out.
  • Government fears 'copycat' travel advisory warnings

    Having been baffled, incredulous and frustrated by the UK FCO's travel advisory warning, the Sri Lankan government now fears that other countries could follow suit with "copycat" advisory warnings.

  • EU to give Sri Lanka €60 million grant for 'development'

    The Sri Lankan Economic Development Ministry has announced it is to receive a grant worth €60 million for its District Development Programme.

  • China’s support for Sri Lanka’s militarisation
    China has agreed to provide US$ 100 million (Rs. 13.2 billion) to the Sri Lankan Ministry of Defence, in order to fund army camps in the North and East of the island reported the Sunday Times.

    According to official sources, the funds would be used to provide develop camps all across the North-East including  Mannar, Palaly, Elephant Pass, Pooneryn, Thalladi, Karainagar, and Mullaitivu.

    The Sunday Times reported that the government had deemed such installations “essential for national security”.

    Additionally China will also be providing a grant of US $1.5 million for the Defence Services College in Colombo, which teaches children of the armed forces and police, from grades 6 to 12.

    The funding is said to come from the Export-Import (Exim) Bank of China, although the details have not yet been reported.

    See our earlier post: 
    Who benefits from Chinese loans to Sri Lanka? (21 November 2010)

    Meanwhile Sri Lanka has reportedly agreed to purchase six MA-60 aircraft from China, at a cost of US$ 105.4 million.
  • Expanding the Buddhist kingdom
    A newly constructed shrine of the Buddha in the Vanni district has been unveiled by Sri Lanka’s Ministry of Defence.

    The Ministry of Defence graciously reported that the shrine was built “in order to cater to the religious needs and spiritual upliftment of the people”.
  • Vanni seat taken away, Moneragala gains one
    In another move politically marginalising the North-East, the number of MP’s elected from the Vanni district has been reduced by the Sri Lankan government, whilst an increase has been allocated for Moneragala in the South.
  • India will continue to train SL soldiers, says minister

    Responding to calls from Tamil Nadu to expel Sri Lankan army personnel from India, the Indian Minister of State for Defence, MM Pallam Raju, said that India would continue to train them.

  • Tamil political prisoners attacked in Galle again, one in coma

    Reports of a further prison attack last week in Galle against Tamil political detainees have emerged.

    The Jaffna newspaper, Uthayan, reported this morning, that Tamil political prisoners were attacked in Galle prison last week, leaving several injured and one detainee, 34-year-old Sundaram Satheeskumar, in a coma.

    Satheeskumar was arrested by in 2008, from his home in Kodikaamam, and imprisoned in New Magazine prison in Colombo. According to Uthayan, when his wife, Kavitha, and his young daughter, Sahitya, went to visit him on the 24th August, they were informed by prison guards that he had been transferred to Galle prison three days ago. When they then went to Galle, they found Satheeskumar admitted to Karapitiya Hospital in a coma.

  • Japan offers to mediate between West and SL

    Japanese envoy Yasushi Akashi has offered to liaise between the international community and Sri Lanka in order to help ‘develop’ the relationship, which has been strained over war crimes and Sri Lanka's failure to conduct independent investigations into the allegations.

  • Sri Lanka blames West for proliferation of protests

    According to secret correspondence with the State Intelligence Service (SIS), ‘two strong Western nations’ and several INGOs are the background instigators of unrelenting anti-government protests on the island, reports Uthayan.

    The Sri Lankan Ministry of External Affairs is reported to be paying extra attention to the matter as internal investigations take place.

    There has recently been a spate of protests by fishermen and farmers, students and lecturers, the opposition and not least the Tamils.

    Western nations and INGOs have been accused of aiding demonstrators with funding and other assistance to carry out protests.

    The government is treating this ‘conspiracy to overthrow the regime’ with extreme caution.

  • Confessions from the Colombo Stock Exchange

    The recently resigned chairman of the Securities and Exchange Commission, Tilak Karunaratne, has said he is willing to provide evidence of malpractices in the Colombo Stock Exchange.

    Speaking to the Daily Mirror on practices between June 2010 and December 2010, Karunaratne said:

    “Yes of course, this was most certainly day light robbery. During the conflict the market was dull and there was quite rightly euphoria after the war ended. Then the market gradually rose up."

    "Then suddenly we find that between June and December 2010 it shot up suddenly. And this was due to manipulation. What they did was they found certain stocks which are not liquid. These stocks have no intrinsic value and they started manipulating and arbitrarily increasing the price by having trades among themselves and their crony brokers."

  • Army constructs camp over LTTE's Mulliavallai cemetery

    The Sri Lankan army is currently constructing an army camp for the 592 regiment, over the razed Mulliavallai LTTE cemetery, reported Tamilwin.

    The LTTE's Mulliavallai cemetery was demolished soon after the government claimed victory in 2009, along with other LTTE memorials and cemeteries in the North-East.

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