Tamil loan default rates almost zero

Sri Lanka’s outgoing Bank of Ceylon Bank of Ceylon chairman has stated that rates of default on state loans were almost zero in the North-East, a stark contrast to the rest of the country. Gamini Wickramasinghe was quoted as saying , "We are happy to say NPAs (non-performing assets) since the war, in the North and the East taken as an average is about one percent... Sometimes in some branches in the North NPAs are zero percent. You can't find this kind of thing around the country ." "They have some kind of belief that what they borrow they pay. Even the East was 1.1 percent last year. I do...

Russian nuclear scientists to visit Sri Lanka

A Russian nuclear power team will visit Sri Lanka laster this month to inspect the energy sector output on the island. The Russian ambassador Alexander Kerchava last month offered Russia's assistance to Sri Lanka in trade, energy, economy and the social sector, reported ColomboPage . The visiting team of nuclear scientists is to support Sri Lanka’s power and energy sector.

Sri Lankan economy to hit $100bn by 2016 – Governor

The governor of the Central Bank, Ajith Cabraal, said that the Sri Lankan economy would grow to $100bn by 2016 and predicted a bright future for the country. “If Sri Lanka is successful over the next three years, the country would surely be the next “Break-out Nation” and the ‘Wonder of Asia,” Mr. Cabraal said. He pointed out that the Central Bank had to adopt ‘strong measures’ to stabilise the economy in order to reach their economic goals of a GDP of $4,000 by 2016, attracting 2.5 million tourists by 2020 and a US$ 100 billion economy by 2016. “These measures resulted in swift responses...

International intervention required for political solution - TNA

Suresh Premachandran, Tamil National Alliance (TNA) MP, has said that international intervention is needed to reach a political solution in Sri Lanka, reports Uthayan . In response to questions on whether the TNA would participate in the upcoming Parliamentary Select Committee (PSC), Premachandran stated that international influence would be essential to negotiating a political solution with a government that shows no intention of power-sharing. He further stated that attacks to the 13th amendment, the introduction of the 18th amendment and the Divi Neguma scheme would not have been...

The Great Injustice

There has been uproar and anger amongst Buddhist clergy and trade union leaders over the government's official calendar, which does not include Poya days (full moon days) as holidays for public servants and private sector employees. The national organiser of the Bodu Bala Sena, the Ven. Vitarandeniya Nanda, said : “ Poya is significant for Sri Lanka where most people are Buddhists. It should continue to be a mercantile holiday. Otherwise, it will be a great injustice to Buddhists. We do not know whether this is a mistake or a deliberate act .” The President of the Inter Company Employees...

Police officials attack Tamil youths

Two youths in Killinochchi were brutally attacked following a heated argument between a resident and police officials, reported Lankasri News . TNA parliamentarian, C.Sridharan, rushed to the site of the assault as soon as the news spread. The injured youth have been taken to Killinochchi hospital to receive treatment. The Police Officials are yet to release a statement on the issue.

No decision to reopen until after Thaipongal - Jaffna University

The decision of when to resume operations at the University of Jaffna will be taken after Thaipongal, reports Uthayan . The university's Faculty of Arts concluded that too many 'complications' would arise, should teaching go on as normal while students were being held under anti-terrorism laws, and so a date to reopen will be decided after the festival of Thaipongal. The Faculty of Sciences is also due to meet soon to discuss the issue.

Sri Lanka’s army to receive more international training

The Commander of the Sri Lankan Army, Lt Gen Jagath Jayasuriya, extended his New Year wishes to the armed forces. Jayasuriya, in a speech at the army headquarters , expressed his pride in the dedication his forces had shown to development projects in the country. The General also pledged that more training, both domestically and internationally, would be provided for the army. “One of our prioritized objectives during this year is the enhancement of training opportunities at local and international levels.” Jayasuriya said.

Mahinda smells same rat as Gota

The Sri Lankan president Mahinda Rajapakse has joined his brother in accusing foreign conspiracies for bringing the country into disrepute. Speaking at the opening ceremony of a building, he also claimed that all Sri Lankans are now living in harmony. “This is the country of our birth. So, the responsibility of protecting peace and harmony lies in our hands, “Sri Lanka is making giant strides in all spheres. All Sri Lankans are living in harmony and working for the country’s benefit. We can strengthen national unity by learning all three languages, “The country enjoys the dividends of peace...

Gota offers training to Indian Army

Sri Lanka’s Defence Secretary Gotabaya Rajapaksa has offered his services to India’s army, proposing to train their armed forces in ‘counter insurgency’. Rajapaksa made the proposal to share Sri Lanka’s expertise in the field, (dubbed “ the Sri Lanka option ”), when the head of the Indian Army came to visit Sri Lanka earlier this month. Speaking to the head of the third largest active armed forces in the world, Rajapaksa said , “When I met Gen Bikram Singh, I renewed our offer to train Indian forces in counter-insurgency. We have designed courses in this field and have offered them to other...