Share price appreciations in LOLC and Hayleys Group counters – The Island

Leading Sri Lankan insurer Co-operative Insurance, recently announced the date of their Initial Public Offering (IPO), which is set to take place on the 20th of December, 2021. The IPO will be managed by the Merchant Bank of Sri Lanka. Affirming its financial strength, the company, which secured a strong financial performance for the past year, was able to grow their Net Earned Premium (NEP) by an impressive 5% in a challenging, economically-crippling environment impacted by the COVID-19 pandemic to post a profit of Rs. 695 million for the fiscal…

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Release of 10 PTA detainees on bail must become part of process of positive change

In recent days, the government has sent mixed signals with regard to improving the human rights situation in the country.  On December 10, on which day International Human Rights Day is celebrated, a civil society organisation in Kandy, the Human Rights Organisation headed by Fr Nandana Manatunga was issued a court order obtained by the police to block it from organising a human rights event on the theme “Ensure the Prisoners their Dignity and Rights to Human Conditions.”  A similar event in Puttalam organised by…

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Co-operative Insurance set to open Initial Public Offering on December 20 – The Island

Leading Sri Lankan insurer Co-operative Insurance, recently announced the date of their Initial Public Offering (IPO), which is set to take place on the 20th of December, 2021. The IPO will be managed by the Merchant Bank of Sri Lanka. Affirming its financial strength, the company, which secured a strong financial performance for the past year, was able to grow their Net Earned Premium (NEP) by an impressive 5% in a challenging, economically-crippling environment impacted by the COVID-19 pandemic to post a profit of Rs. 695 million for the fiscal…

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At least 50 killed in Haiti gas tanker explosion

At least 50 people were killed when a gas tanker exploded in the Haitian city of Cap-Haitien on Tuesday morning, according to a local official, with overwhelmed local medics saying the toll was feared to rise. “I saw on the scene between 50 and 54 people burned alive,” Deputy Mayor Patrick Almonor said. “It is impossible to identify them.” Almonor also said “about 20” houses in the area were set ablaze by the explosion. “We can’t yet give details on the number of victims inside the houses,” he said. Nearby…

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BASL seeks Court against CBSL’s directive on USD-to-LKR conversion

The Bar Association of Sri Lanka (BASL) has lodged a petition with the Court of Appeal against the directive by the Central Bank of Sri Lanka (CBSL) on converting foreign currency, including United States Dollars, held by Sri Lankans into Sri Lankan Rupees. The writ was filed by BASL President Saliya Peiris PC and Vice President Anura Meddegoda PC, pointing out that service charges have so far been levied in foreign currency for providing services to clients abroad, but the CBSL’s new directive drives the…

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Engineers’ fight at CEB heading for showdown – The Island

By Ifham Nizam The Ceylon Electricity Board Engineers Union (CEBEU) would escalate its non-cooperation campaign to what it calls level 2 today. A senior CEBEU member told The Island yesterday that their campaign was against the incumbent General Manager of the CEB and would continue till their demands were met. He said that members including Additional General Managers should not cooperate with the incumbent GM, CEB. The Union’s Joint Secretary has asked members to attend urgent meetings on security issues and restoring power supply to institutions such as hospitals. “It…

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Norochcholai Power Plant operational – no more power outages

No more power cuts will take place from today (14), said the Ceylon Electricity Board in a statement. The recent occasional power outages throughout the island were due to the failure of a generator at the Norochcholai Power Plant, the Board revealed, adding that the generator has now been repaired and the operation of power supply to the national grid will continue uninterrupted. MIAP Thank you

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TCL 20 Pro 5G with awe-inspiring visuals wins CES 2022 Innovation Award – The Island

Leading Sri Lankan insurer Co-operative Insurance, recently announced the date of their Initial Public Offering (IPO), which is set to take place on the 20th of December, 2021. The IPO will be managed by the Merchant Bank of Sri Lanka. Affirming its financial strength, the company, which secured a strong financial performance for the past year, was able to grow their Net Earned Premium (NEP) by an impressive 5% in a challenging, economically-crippling environment impacted by the COVID-19 pandemic to post a profit of Rs. 695 million for the fiscal…

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Mainland China reports first case of Omicron coronavirus variant

Mainland China has reported its first case of the highly transmissible Omicron variant in the northern city of Tianjin, posing what could be the biggest threat to date to the country’s zero-Covid strategy. The Chinese authorities reported on Monday that the Omicron case was detected on 9 December from an overseas returnee, who showed no symptoms on arrival. The patient is being quarantined and treated in a designated hospital. At the same time, the eastern province of Zhejiang has been battling a rise in new…

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CEBEU escalates trade union action to ‘Level 2’ – The Island

By Ifham Nizam The Ceylon Electricity Board Engineers Union (CEBEU) would escalate its non-cooperation campaign to what it calls level 2 today. A senior CEBEU member told The Island yesterday that their campaign was against the incumbent General Manager of the CEB and would continue till their demands were met. He said that members including Additional General Managers should not cooperate with the incumbent GM, CEB. The Union’s Joint Secretary has asked members to attend urgent meetings on security issues and restoring power supply to institutions such as hospitals. “It…

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The postal workers’ strike will continue until midnight today

The island-wide strike launched by postal workers yesterday over 24 demands is still in progress. The strike which commenced at 4.00 pm yesterday will continue till 12.00 midnight today (14). The President of the Postal and Telecommunication Services Trade Union Chinthaka Bandara stated that the employees of all post offices in the country are avoiding their duties today and he is saddened by the inconvenience caused to the public. However, he said that he had to take these steps for the future advancement of the…

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Opposition MP Group Representing Tamils from the north and east, hill country (Malaiyaha Tamils), and Tamil-speaking Muslims Seek the full implementation of the 13th Amendment to ensure “existing rights are not snatched away”.

BY Meera Srinivasan A group of Opposition MPs in Sri Lanka, representing Tamils from the north and east, hill country (Malaiyaha Tamils), and Tamil-speaking Muslims on Sunday sought the full implementation of the 13th Amendment to ensure “existing rights are not snatched away”. The contentious 13th Amendment, born out of the Indo-Lanka Accord of 1987, has remained in Sri Lanka’s Constitution for nearly four decades without seeing full implementation, as successive regimes in Colombo have refused to part with power over crucial areas including land, and law and order. Some…

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Lt.Commander Chandana Prasad Hettiarachchi alias “Navy Sampath’’ Who was Sanctioned by the US State Dept was Allegedly Involved in gang of 14 Naval personnel that Abducted and Killed 11 Civilians In the Trincomalee Navy Base

By P.K.Balachandran On the occasion of World Human Rights Day on Friday, the US State Department designated 12 officials of foreign governments under Section 7031(c) of the Department of State, Foreign Operations, and Related Programs Appropriation Act, 2021, for their involvement in gross violations of human rights. Among the sanctioned were Lt.Commander Chandana Hettiarachchi of the Sri Lankan Navy, and Sergeant Sunil Ratnayake of the Lankan Army. They and their immediate family members are ineligible for entry into the United States, a State Department release said.Chandana Hettiarachchi, a Sri Lankan…

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Global Alliance of National Human Rights Institutions (GANHRI) has recommended that the Human Rights Commission of Sri Lanka (HRCSL) be downgraded to a “B” status, primarily due to its appointment process and its failure to adequately address human rights violations.

BY Pamodi Waravita The world’s leading organisation of national human rights bodies has recommended that the Human Rights Commission of Sri Lanka (HRCSL) be downgraded to a “B” status, primarily due to its appointment process and its failure to adequately address human rights violations. The recommendation was made last week by the Global Alliance of National Human Rights Institutions (GANHRI), a partner of the United Nations (UN), and is contained in the report and recommendations of the virtual session of its Subcommittee on Accreditation (SCA), held from 18 to 29…

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Sellout Muslim MPs & Helpless Muslims

In the aftermath of the ethnic war, Muslims were fully behind the government. They also expected the government to learn lesson from the war, bring communities together and march forward for the common good of all. However learning no lesson, racist politics turned against minority Muslims while opening the country to forces such as India’s BJP and Israel -sworn enemies of Islam and Muslims. These forces care a damn for Sri Lanka in implementing their evil agendas. Persecution of Muslims culminated in the violent attacks on Aluthgama, Dharga Town and Beruwala where Muslim properties and even mosques were…

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Will ‘One Nation, One Law’ and the new Constitution meet

By N Sathiya Moorthy Addressing a meeting of the Coalition for National and Religious Reconciliation, former Parliament Speaker Karu Jayasuriya declared that Buddhism is not racist. He quoted the Buddha in this regard. He also urged the Maha Sangha, present on the occasion, to educate racists among Buddhists and create conditions for a national dialogue – against it, of course. Not long after came the official notification on the constitution of the Presidential Task Force on ‘One nation, one law’ (ONOL), that too under the most controversial BBS boss, Gnanasara…

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