Japanese giant Mitsubishi Corp. to wind up Lankan operations next month

Japanese giant Mitsubishi Corporation has decided to wind up operations in Sri Lanka next month after being an integral part of bilateral ties and some of the country’s key infrastructure projects for nearly 60 years.

Death of businessman Dinesh Schaffter: Aggrieved party highlights contradictions in postmortem report

The aggrieved party of late businessman Dinesh Schaffter today informed court that they have noticed several contradictions and inconsistencies in the postmortem report compiled by the Colombo Judicial Medical Officer.

’’Islandwide trade Union action cost Sri Lanka over Rs.1 bn’’ - Economists

The country has lost an estimated revenue of Rs.1 billion due to several crucial sectors launching a protest today, inconveniencing millions of citizens and leading to roads being blocked in the business hub of Colombo, senior economists said today.

Non-cash benefits exempted from PAYE tax for employees

A circular has been issued by the Inland Revenue Department exempting employees from paying PAYE tax on non-cash benefits such as for vehicles, fuel allowances, housing and medical benefits which have been provided to employees at their places of employment.

Sri Lankan graduates scamming Westerners via dating apps

In another human trafficking scheme, nearly 100 young Sri Lankan graduates, mostly men have been lured to work in the Golden Triangle Special Economic Zone (SEZ) in Laos, known as the home of Southeast Asia’s transnational organised crime networks.

Paris Club members express commitment to negotiate debt restructuring with Sri Lanka

The Paris Club members have expressed their commitment to negotiate a debt restructuring with Sri Lanka in accordance with the comparability of treatment principle and with the goal of restoring debt sustainability, the President’s Media Division (PMD) said today.

Only Rs. 11 mn spent on Independence Day celebration: President’s Office

Disclosing the expenses of the Independence Day celebration, the President’s Office said the government spent only Rs. 11 million on the 75th National Independence Day celebrations this year.

Indonesia launches probe into SL billionaire’s death

Jakarta Police have begun investigations into the death of Managing Director of OPEX Holdings and billionaire businessman, 45 year old Onesh Subasinghe, whose body was found in a serviced apartment in Jakarta, Indonesia

Father Chandra Schaffter speaks his heart out about Dinesh’s death and Dinesh, the person

Senior and highly respected business leader Chandra Schaffter yesterday spoke his heart out about his youngest son Dinesh and his untimely death on 15 December. Here is the full text of Chandra’s statement first since the death of Dinesh, a young investor, entrepreneur and philanthropist, exclusively in the Daily FT

Body of a Sri Lankan billionaire businessman found in Jakarta

Managing Director of OPEX holdings and billionaire businessman, Onesh Subasinghe has been found dead in a serviced apartment in Jakarta, Indonesia, informed sources said.

Will continue new reforms despite obstacles created by anarchist political forces: Prez

President Ranil Wickremesinghe said regardless of the obstacles the anarchist political forces seek to create, he will continue the new reform program with the majority of people who love this country.

China says SL won’t have to repay principal and interest due in 2021, 2022 to EXIM Bank

China’s Foreign Ministry Spokesperson Mao Ning said today that the Export-Import Bank of China will provide an extension on the debt service to Sri Lanka due in 2022 and 2023, which means Sri Lanka will not have to repay the principal and interest due on the Bank’s loans during the above-mentioned period, so as to help relieve Sri Lanka’s short-term debt repayment pressure.

Lankans unfavourable of all political party leaders

The latest Sri Lanka Opinion Tracker Survey (SLOTS) polling shows that the public continue to have deeply unfavourable views of all major political party leaders.

Paris Club to give Sri Lanka financing assurances amid IMF debt talks

The Paris Club of creditor nations is ready to provide financing assurances to Sri Lanka, a key step needed to unlock a $2.9 billion bailout by the International Monetary Fund (IMF), two sources with direct knowledge of the matter told Reuters.

What China has offered SL is not enough: US

US Under Secretary of State for Political Affairs Victoria Nuland said her country expects China as the largest bilateral creditor to Sri Lanka to give credible assurance to Sri Lanka’s debt restructuring in keeping with the IMF.

Gazette notification on holding LG polls issued

An extraordinary gazette notification with regard to the holding of the local government election on March 9, 2023, has been issued.

Despite economic crisis, Treasury allocates billions for Offices of President, PM, Ministers

Sri Lanka is still in the midst of its worst-ever economic crisis and just a few months ago defaulted on its debt payments for the first time in history.

Charge sheet ready to remove PUCSL Chairman: Minister

Power and Energy Minister Kanchana Wijesekara said that a charge sheet related to the removal of the chairman of the Public Utilities Commission of Sri Lanka (PUCSL) Janaka Ratnayake is being prepared and will be presented to the Parliament soon.

Death threats again on Election Commission members

Another member of the Election Commission has reportedly received death threats over the phone last night.

China’s offer not sufficient for IMF deal

China’s offer to Sri Lanka of a two-year moratorium on its debt is not suf­ficient to clear the path for the International Monetary Fund (IMF) to approve a funding programme, diplomatic sources told Daily Mirror.

Parliament prorogued till February 8

President Ranil Wickremesinghe has prorogued Parliament till February 8, 2023, President’s office said.

We must show world Sri Lanka is capable of celebrating Independence anniversary: RW

President Ranil Wickremesinghe said today that Sri Lanka must celebrate the 75th Independence Anniversary, if not, the world would say that Sri Lanka is not capable of celebrating even its independence.

EC member Charles resigns from post

Member of Election Commission P. M. S. Charles resigned from her post while Chairman of the commission Nimal Pumchihewa is also expected to follow suit, a spokesman from the President’s office said.

No power cut until end of A/L exam: HRCSL

The Human Rights Commission of Sri Lanka (HRCSL) said today that the parties that gathered at the HRC had agreed not to impose power cuts until the end of the Advanced Level Examination from today.

CB chief signals end to debt moratoria

As businesses across diverse sectors are still hoping for some relief by way of debt moratoria, the Central Bank yesterday indicated that it does not encourage the continuity of such packages as that could take a heavy toll on the banking sector.

Boyfriend forces young girl sitting A/L exam to drink acid

A schoolgirl sitting for the GCE Advanced level Examination at an examination center in Kegalle town was hospitalised with burn injuries when a young man waylaid her and forced her to drink acid.

IMF confirms India’s assurances on Sri Lanka debt needed for bailout

India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday.

Magistrate says cause of death yet to be determined by court

The Colombo Chief Magistrate’s Court today informed that the cause of death into the death of businessman Dinesh Schaffter has not yet been determined by the court.

Filing B report against lawyers by Keselwatta Police: IGP calls report from WP Senior DIG

The Inspector General of Police (IGP) has called for a report from the Senior DIG in charge of the Western Province about the actions of Keselwatta Police for filing a B report before Colombo Chief Magistrate’s Court against a group of lawyers.

LG Polls to be held on March 9

The Local Government election will be held on March 9, the Election commission announced a short while ago.