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Excise Commissioner General, H.G. Sumanasinghe reiterated that no such new licenses have been issued for distillery factories during this year.

Older generation 15-inch MacBook Pro units will not be allowed in as checked-in or carry-on luggage by SriLankan Airlines due to a safety risk announced by the Apple Inc.

Apple Inc has announced that in a limited number of older generation 15-inch MacBook Pro units, the battery may overheat and pose a fire safety risk. The affected units were sold primarily between September 2015 and February 2017.

Accordingly, SriLankan Airlines has requested passengers to verify with Apple whether their devices are affected by the recall.

Passengers, upon check-in, will be requested to produce such verifications or proof that the battery has been replaced.

In the absence of such verification, their devices will not be allowed in as checked-in or carry-on luggage, SriLankan Airlines has stated.

In order to verify such devices, the users are urged to follow the link Apple’s 15-inch MacBook Pro Battery Recall Programme.

‘Mahinda Chinthana’ period of de-liberalisation had to depend on China for infrastructure development. Previous government’s “illiberal democracy and ethnic agenda has pushed the country into an economic abyss.

The LTTE and JVP in combination did a spectacular job at destroying the best of Sri Lanka’s political elite and the new government also came to power without an economic plan and it never developed one.

He noted that he has observed the dire state of the Sri Lankan state or in academic jargon, a serious lack of state capacity, and he came to the conclusion quite quickly that even fairly simple reforms were difficult and perhaps in some cases impossible to push through because of the “dysfunction” of the Sri Lankan state.

These observations were made by International renowned Sri Lankan–born economist Dr. Razeen Sally who is a Visiting Associate Professor of the Lee Kuan Yew School of Public Policy at the National University of Singapore.

He was delivering the 69th anniversary oration of the Central Bank in Colombo on Wednesday.

The present Sri Lanka government came to power without an economic plan and it never developed one and it eventually unveiled a “Christmas tree wish list” of things that’s going to happen by 2025, he added.

He noted that he has observed the dire state of the Sri Lankan state or in the academic jargon a serious lack of state capacity and he came to the conclusion quite quickly that even fairly simple reforms were difficult and perhaps in some cases impossible to push through because of the “dysfunction” of the Sri Lankan state.

President of the All Ceylon Bakery Owners’ Association, N.K. Jayawardena has said the decision was taken following the reduction of wheat flour price.

The Association last Friday (6) announced that the price of a loaf of bread will be increased by Rs. 2 following the price hike of wheat flour announced by the Prima Ceylon (Private) Limited.

The price of 1kg of wheat flour was to be increased by Rs 5.50, but the wheat flour companies later retracted the price hike.

The companies were called before the Cost of Living committee on Tuesday (10) and they agreed to scrap the recent price hike and to sell wheat flour at the previous price with immediate effect.

The companies were also given a period of three weeks to show cause for the arbitrary wheat flour price increase. 

As an immediate response to the incident, the Government of Japan has agreed to provide Japanese Yen 01 billion, (approximately Rs. 1.6 billion) grant under the Japanese Government’s non - project grant aid scheme for the provision of necessary equipment to strengthen the capacity of Sri Lanka Police and Airport and Aviation Services (Sri Lanka ) Limited on counterterrorism activities.

Accordingly, the necessary equipment for surveillance and detection will be provided by the Government of Japan to Sri Lanka Police and to the Airport and Aviation Services (Sri Lanka) Limited, through the Ministry of Defence and the Ministry of Transport and Civil Aviation respectively to ensure the public security and for the safety of air passengers.

The signing of Exchange of Notes pertaining to the above Grant Aid took place today, at the Ministry of Finance.

Dr. R.H.S. Samaratunga, Secretary, Ministry of Finance on behalf of the Government of Sri Lanka and H.E. Mr. Akira Sugiyama, Ambassador, Embassy of Japan in Sri Lanka on behalf of the Government of Japan signed the above Exchange of Notes.

In April, bomb blasts ripped through churches and hotels in Sri Lanka on Easter Sunday, killing more than 200 people and injuring more than 400.

Analysts as well as the Sri Lankan Government had predicted the bombings would hit the country’s growth this year.

State Minister of Finance Eran Wickramaratne had said 2019 growth “would be around 3%” – lower than projections by institutions such as the International Monetary Fund and the Asian Development Bank.

The IMF’s 2019 growth forecast for Sri Lanka was 3.5%, while that of the ADB was 3.6%.

In May, a Reuters poll showed that the country’s 2019 gross domestic product (GDP) growth could hit an 18-year-low following the bombings, falling to 2.5%. The attacks weighed on tourism, foreign investment, and business activity in the country.

Since then, Sri Lanka’s Central Bank has cut its rates twice in a bid to lift its struggling economy in the wake of the attacks.

Sri Lanka’s key tourism sector is seeing “quite a good recovery” after the attacks, said Cooray.

“Month on month we’re seeing quite a strong rise in the arrivals and ... we’ve been monitoring the forward bookings compared to, say, the same period last year. We’re happy to see that the trend of forward bookings is actually quite positive,” he said. “We’re seeing almost the same level of bookings from the period September to March 2020, so the recovery momentum is certainly quite strong, given the incident that happened.”

Tourism accounted for about 5% of the Sri Lankan economy in December 2018. In that month, tourism revenue stood at $475.2 million.

The upcoming Presidential Elections this year could also lead to more good news for Sri Lanka’s economy, Cooray said.

“Post the election, with further clarity on certain policies and large ticket investments, I think that could be a further catalyst for growth going forward,” he said.

Sri Lanka’s Hambantota International Port, located in Colombo, could attract more foreign investments as well, Cooray added.

“There’s 15,000 acres of land that has been earmarked for development of industries surrounding the port, and I think that is the opportunity that is there for the private sector in Sri Lanka to capitalise… it’s something that could be used to attract (Foreign Direct Investment) into the country,” said Cooray.

His company is a big player in the development of the port, a partnership between the Sri Lanka Ports Authority and China Merchant Port Holdings.

Finance Minister Mangala Samaraweera  says that the United National Party (UNP) must come to the forefront to make Sajith Premadasa the next President of Sri Lanka. The Minister had made this request during an interview with ttvnews.lk

"Although you said that Ranil couldn't during Chandrika's government, you were later quoted as saying that it was because Ranil was able to. When you have said Ranil can, then why are trying to bring Sajith Premadasa as the presidential candidate?," editor of the website Dilini Samanmali inquired.

In response, the Minister said, “It is true posters were put up saying Ranil is not able to. I have already explained that at the time I said this because Ranil was the main obstacle for Chandrika Kumaranatunge. We made that decision based on research done at the time.”

“In 99, Ranil and Chandrika both were in a very close race. This was proved by the election result as well.”

“Even in 2005, Ranil was once again in a close race with Mahinda Rajapaksa. He lost because the people of the North were not allowed to vote by the LTTE.”

“But no other politician was popular as him during the time. This popularity does not exist anymore. It happens to any famous person. No one should get offended by these honest comments. I often speak very directly.”

“While the country deserves a President like Ranil Wickremesinghe however he is not able to win the election as evidenced by surveys conducted”

“This is why we are stressing that Sajith must be made President and the UNP must come to the fore to ensure this," Samaraweera added.

The extradition request of former Central Bank Governor, Arjuna Mahendran has been sent to the Sri Lankan High Commission in Singapore by the Foreign Affairs Ministry.

The Attorney General’s Coordinating Officer State Counsel Nishara Jayaratne said yesterday (12) that the documents have been sent to Singapore.

The extradition request will subsequently be forwarded to the Ministry of Foreign Affairs of Singapore.

The Attorney General on September 2nd tendered the extradition request for the former Central Bank Governor to the Defence Ministry and the Foreign Affairs Ministry for necessary authentication and transmission to the Singaporean government.

Accordingly, the President signed the documents amounting to 21,000 pages that are to be lodged with Singapore.

Mahendran was indicted in June for causing losses of more than US$11 million to the state.

Sri Lankan authorities had completed the legal requirements to formally lodge an extradition request with Singapore.

Mahendran, who is wanted in connection with investigations into the Central Bank Treasury bond scam, is believed to be in Singapore.

A Singapore national of Sri Lankan origin, he was accused in 2015 of passing sensitive information to his bond-dealer son-in-law to make millions during his term as the Governor of the Central Bank of Sri Lanka (CBSL).

In February last year, Mahendran was named a key suspect in the multi-million dollar bond scam in Sri Lanka. He fled abroad, failing to appear in court to respond to charges.

Minister of Industry & Commerce, Resettlement of Protracted Displaced Persons, Cooperative Development and Vocational Training & Skills Development Rishad Bathiudeen and Taranjit Singh Sandhu, High Commissioner of India inaugurated the LANKAPAK 2019 in BMICH yesterday (11).

Around 40 Indian companies are participating in the Exhibition, supported by PHD Chamber of Commerce & Industry of India.

State Minister of Industry & Commerce, Resettlement of Protracted Displaced Persons, Cooperative Development and Vocational Training & Skills Development Buddhika Pathirana and and Taranjit Singh Sandhu, High Commissioner of India were also present.

Minister Bathiudeen highlighted the importance of printing and packaging in international branding. He encouraged industries to use innovative methods of packaging, especially for food and beverages. He also spoke about the need for adoption of environment-friendly technology in packaging industry. He urged for greater collaboration amongst SMEs in various countries to strengthen value chains.

High Commissioner expressed his happiness over the large-scale participation of Indian companies in the recent Exhibitions in Sri Lanka, noting that it was not just about ‘proximity’, but also about ‘closeness’.

Highlighting the importance of safe, hygienic and attractive packaging, he noted that there was also a need to be mindful of the implications it has, for our environment sustainability. High Commissioner cited Indian Prime Minister Narendra Modi’s recent call to put an end to single-use plastic in the coming years, and suggested that paper, cloth and other alternative material need to be looked at as viable options.

Anuradha Jayasinghe, President, Sri Lanka Institute of Packaging, Rohan Victoria, President, Asia Packaging Federation, Imran Hassan, MD, CDC Events (Pvt Ltd) and Rakesh Sarangi, Secretary, PHD Chamber of Commerce and Industry of India and others also attended the inaugural event.

The Exhibition ends on 13 September 2019.

State Minister of Defence and Mass Media Minister Ruwan Wijewardene says the Sri Lanka Rupavahini Corporation (SLRC) was facing a serious financial crisis.

Wijewardene called a news conference yesterday (11) to express concerns over the President’s decision on SLRC and the impending financial crisis of the corporation.

The Minister pointed out that the SLRC had been losing close to Rs.300 Million annually.

He explained that a sum of Rs. 450 million was requested by SLRC from the Treasury to pay salaries in May, but the request was rejected at a pre-Cabinet meeting as the corporation had not shown promising results. The SLRC required Rs. 200 million a month to break-even.

Wijewardene noted that in the last six months the corporation has been making only Rs. 120 to 140 million and had been facing an average loss of Rs. 60 to Rs 80 million monthly.

He said immediate payables to suppliers were over Rs 100 million.

The Minister explained that the corporation was currently running on advertisement income gained from the screening of the World Cup.

“SLRC will be stuck for cash as it is currently using the World Cup advertisement income to pay salaries,”

Wijewardene said, adding that World Cup related costs were yet to be covered.

He added that a sum of US$1.8 million equal to Rs. 360 million had to be paid to Star Sports as rights payments.

“For this payment a Bank Guarantee has been issued by Bank of Ceylon and is due in December. The bank guarantee will be forfeited as SLRC will be stuck for cash. Once BOC pays this amount SLRC will eventually collapse,” Wijewardene said.

“I am ashamed to say Cheques worth Rs. 2000, 3000 are bouncing back,” he further noted.

Wijegunawardena added that even the Auditor General in his report had questioned whether the corporation could run further and that the SLRC’s financial crisis began in 2014 and had worsened in 2017 mainly due to mismanagement. 

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