IMF Threats, IFC Munificence & The Anti-Investment Trader Mafia in Sri Lanka

ee archive: eesrilanka.wordpress.com

Before you study the economics, study the economists!

IMF Threats, IFC Munificence &

The Anti-Investment Trader Mafia in Sri Lanka

e-Con e-News 10-16 January 2021

‘Take it or leave it’ – Was this an International Monetary Fund threat against the Sri Lankan government this week? This MCC-type ultimatum was delivered by Japanese IMF mission chief for SL, Masahiro Nozaki, through the Wijeya Group’s Sunday Times. The IMF claims their funds would “also unlock substantial multilateral and bilateral financing (possibly debt relief as well)”. This memo came in between India’s External Affairs Minister tramping in and the Rothschild banking scion come-a-sightseeing…

• A government MP this week asked “international investors to roll over bonds maturing this year”. The refusal by ‘fund managers’ to roll over (let alone cancel) debt and demand immediate payment sparked the 1997 Asian financial meltdown. A national discussion should be ignited on how exactly this debt was incurred and for what. Loans were not invested in modern production, but in foreign machines and ‘experts’, interest on interest, etc.

• The IMF and related banks aim to prevent investment in local ‘modern industrial production’. This ee cursorily examines the role played in the privatization of national enterprises and resources. The media is also not fully reporting parliament’s Committee on Public Enterprises (COPE) hearings, preferring to headline losses and looting by management. But who chose this management, and were the losses – ‘LIHOP’ – Letting it Happen On Purpose? The media will not tell. They cannot tell.

• What is the link between US-controlled IMF-WorldBank and the continuing colonial control of our shipping and ports? ee looks at the WB-linked International Financial Corporation’s involvement in the Adani-owned Kerala port of Vizhinam, built to compete with Colombo Port. The IFC was Vizhinam’s principal consultant, and its market study & project options report were prepared by English shipping consultants Drewry (linked to P&O).

     An Island article this week – batting for Adani perhaps – notes shipping is ‘mainly controlled by massive global ship operators and owners’ who have invested billions of dollars in ship hardware. Major economies and developed countries control well over 80% of the world’s container cargo throughput. The media should explore the links, eg, between the infamous English shipper Peninsular & Orient Corporation (P&O) and the Standard Chartered Bank.

     Mercantile establishments in Colombo were directly linked with the plantation economy, and controlled it on behalf of their English owners. The P&O set up the Ceylon Wharfage Company as a cargo-handling subsidiary for ships, for their imports and exports in the Colombo Port. P&O firm Mackinnon Mackenzie did shipping agency work, while engineering firm Walkers serviced the ships. In 1920, P&O set up the P&O Bank, then sold it to Chartered Bank of India, Australia and China (now Standard Chartered). Many P&O directors have been linked to Standard Chartered Bank and Bank of England. (see ee Industry, Shipping)

‘Pentagon authorizes 25,000 National Guardsmen (note the gendering), predominantly white, for Joe Biden Inauguration, while Hollywood Stars celebrate ‘America United’… set to officially begin Jan 16, with a concert celebrating ‘diversity’’

LIHOP – Letting It Happen On Purpose: the acronym to explain the stage-managed ‘siege’ of the US Capitol. There are 33 policing agencies in Washington with ‘arrest’ powers, who essentially ‘stood back and stood by’, tho several joined in the ‘rioting’.

     The largest US banks & corporations then withdrew funding from the 2 top parties supposedly shocked by the violence. They’re demanding greater controls over political opposition and further censorship of media.

     But huge corporate funding is provided to both ‘mainstream’ parties as well as so-called fringe extremists (ee Sovereignty, Oxycontin).

     The ‘siege’ in their capital’s Capitol was a media-military operation plotted by big-C Capital! The capitalist media, and their local agents, will shower liberal doses of snow on the incoming Biden regime, promising greater ‘human rights’ etc, while planning the opposite (ee Sovereignty, Breach)

     Jaffna netball player Samantha Power, appointed USAID head, promises to growl at ‘democratic backsliding’. And Biden is getting ready to reward one of the USA’s ‘most successful promoters of insurrections abroad in modern times’Victoria ‘Fuck the EU’ Nuland – as new Undersecretary of State for Political Affairs. Nuland is well known for funding the bloody coup d’etat in the Ukraine, and promoting the invasion of Iraq! Yes, that kind of ‘human rights’!

18% of US population (living in 26 predominantly white rural States) elect 52 of USA’s 100 Senators

Cued and coached by US Embassy memos, local media gushed about ‘democracy’ being saved by the US, having withstood ‘mob’ siege that such glories would never happen here. From economists to gossip columnists to religious & linguistic separatists – all declared Sri Lanka is worse.

SL’s disgrace, Trump’s worst hurrah, and Biden’s finest hour’ – Sunday Island

The media are typing thrillers about brave US politicians confronting the Capitol intruders. People oohing and aahing about ‘riots’ in Washington, utter not a word about ongoing US-led horror in Congo, Libya, Yemen, Syria. They’re of course parroting the US capitalist party line.

     White and Off-white Leftists, meanwhile, are comparing US events to: Fascism. Nazis. Weimar Republic. Reichstag. Hitler’s Putsch etc. Yet, all rarely admit the long twilight of colonial outrage, that the US is an expansive white settler state, which installed chattel slavery, and has gone on to invade the rest of the world.

     ee therefore reiterates a thesis on the difference between white settler states, where investment in modern industrial production is allowed and non-settler colonial states, where it’s not (ee Focus)

• In a non-settler colonial economy like Sri Lanka, a predominant unspoken policy has been the prevention of investment in modern agricultural & industrial workers and production.

     Imposing migrant workers over local workers (in plantations, ports, railways), the intermittent annihilation campaigns and driving away of local workers to foreign lands, have well served this purpose. Flooding any available investment into non-productive activity: Making money off land, money from imports, and money from money. Rentiers dominate!

     The non-settler colonial white man saw it necessary to be seen not doing any work. ‘He spends like a suddha’ is a wry Sinhala trope. In the settler countries, a rebellious white working class demanded equality with the ruling whites, enabling long-term investment in machine capitalism. Of course, local people – and in most of the Americas, Black peoples – are denied access to such a producer culture.

Contents:

A1. Reader Comments

• Jaishankar to Rothschild to…? • iNGO Sympathy for Garment Workers • Why is ‘Left’ Anti-China • Trump supporters are from white working class

A2. Quotes of the Week

• IMF abolished Infrastructure • UNHRC’s Empire Bias • India, US Against SL • USSR, India & Industry • IMF Rigs Stats • G8 Monopolizes International Trade • English Spies Behind Media • White US Cops Joined in Washington Drama • US Diplomats Damage Control

A3. Random Notes

• Need for Industrial Investment Bank • Privatization of National Corporations & Resources • WB, Colombo Port & Adani • Indian Legal Immunity for IFC • Mauritius & SL • WB Moves in on SL Banks & Home Market • Keells, Brandix, Moragoda & Balendra • P&O’s Hambantota Phobia • The P Word • Tea & Rule of Law • You are My Sunshine Holdings • Need for National Convo on Industrial Credit • New Media Needed • Embassy Flouts Import Restrictions • Anti-Investment Trader Mafia • Japan’s SoftBank & Microfinance Fraud • Geneva Donkeys Braying

B. ee Focus       

B1. White Settler Uprising at the Capitol – Glen Ford, Black Agenda Report

C. News Index

__________________

A1. Reader Comments

ee thanks Readers who send articles of interest. Please excerpt or summarize what is important about any article sent, or your comments, and place the e-link at the end. It’s better to email.

• ‘Is something terrible about to go down? MCC, Jaishankar, Rothschild, pro-LTTE agitation, Muslim burials, environmentalists (who didn’t complain about beached whales in Kalutara caused by US-India Quad military exercise). Is it the road to the white overseer in Geneva or the old Dixie whistling from Washington?’

• ‘Why is there so much iNGO sympathy for garment workers here, while ignoring what’s been happening to garment workers in the US, Canada, EU etc. Many of the so-called terrorists in England were chosen (by guess who?) from the Midlands where industry has been gutted.’

• ‘Almost the entire political class in the white West is now Anti-China. Much of the so-called Left in SL is also anti-China? It’s like 1939 when the CP had to split from the LSSP who equated the USSR with the imperialists. Later realizing, only the socialist countries would help us industrialize.’

• ‘Ambika Satkunanathan, former Human Rights Commissioner, is funded by Soros’ Open Society. Sunday Times’ investigative journalist Namini Wijedasa is a US State Dept fellow. All these ‘non-governmental’ fellows oppose our state’s involvement but are funded by other states?’

 • ‘Trump supporters Pompeo, Bannon etc are from the working class but not of the working class… They feel it’s their turn to take over the capitalist reins of power.’

__________________

A2. Quotes of the Week_

• ‘The IMF in 1978 made us abolish the development infrastructure that we had carefully built up since our country became independent. This was the infrastructure that was to enable our peasant farmers to increase their incomes and to enable people to open up industries and become employed.’ (ee Industry, Import Substitution)

• ‘80% of the UNHRC’s funding requirements are supplied by powerful nations such as the US and its allies. Also, key positions in the UNHRC are mostly held by those who have served in the foreign services of such countries.’ – Tamara Kunanayakam

• ‘We should feel free to disagree with India on the imperatives of high defence spending and partnering with the US on security manoeuvres in the Indian Ocean with their latest weaponry. The recent Malabar naval exercises by the Quad in the Bay of Bengal and naval sonars are believed to have impacted the unprecedented beaching of some 100 pilot whales in Kalutara around the same time, rescued after a marathon effort by our navy and volunteers.’ – (ee Sovereignty, Family Silver)

• ‘The former Soviet Union provided the much-needed heavy industry to India. The help was unconditional with no hegemonic tags and predatory conditions, the traits of the IMF and WB’ (see Agriculture, Calamitous)

• ‘David Budhoo was an IMF staffer whose job was designing Structural Adjustment Programs for Africa, Latin America and the Caribbean. When Budhoo quit in 1988 he wrote an open letter to the Managing Director of the IMF. He accused the IMF of manipulating statistics. He said he had been involved in making Trinidad & Tobago look far less stable in the statistics than they actually were, doubling labor costs and inventing huge unpaid debts. The bogus statistics made the financial markets cut off their financing. IMF then moved in with its remedies, layoffs, wage cuts and the ‘whole gamut’ of structural adjustment. The letter was turned into a Broadway theatre play and a review of the play was the only mention ever made of Budhoo in the NYTimes said critics.’ – ee Politics, Pohottuva

• ‘G8+ countries own the vast bulk of all the foreign-owned assets. Even the so-called BRICS (Brazil, Russia, India, China, South Africa) own little abroad compared to the imperialist countries. The G8 has 6 times as much FDI stock as BRICS. The main way that value is transferred from the periphery to the imperialist nations is still through international trade. There has been a large increase in intra-firm trade by affiliates to the parent company using price mark-ups (transfer pricing). UNCTAD reckons that transnational companies (TNCs) are involved in 80% of global trade. And of TNC trade, about 40% is intra-firm; 15% through fixed contracts with suppliers and 40% with so-called arms-length firms (ie, not owned affiliates but ‘captive’ domestic firms). Actual intra-firm trade (affiliates to parent company) is about 33% of all annual trade.” – (ee Economists, Modern Imperialism)

• ‘Last April, it was a former head of Britain’s MI6, John Sawers, who first alleged that China concealed crucial information about the novel coronavirus outbreak. England has decided not to pursue the campaign further and has, kind of, slunk away from the podium, leaving Australian PM Scott Morrison as the night watchman.’ – (ee Sovereignty, Boris)

• ‘There are 33 agencies in DC with the power to arrest, and they either had no intelligence on this, or chose to ignore these obvious plans to break into the Capitol because Capitol Police were completely overwhelmed. There were very few Capitol Police surrounding the Capitol.’ – (ee Sovereignty, Breach)

• ‘Failing to publicly hold the president to account would further damage our democracy and our ability to effectively accomplish our foreign policy goals abroad’ – US diplomats to US State Det (ee Sovereignty, Extraordinary)

______________

A3. Random Notes (‘Seeing Number in Chaos’)_

ee was reminded of the need for a real investment bank – after last week’s examination of the promise of a development bank, and this week’s Committee on Public Enterprises (COPE) hearings. This ee cursorily examines the privatization of national enterprises and resources, rather than investing in them.

            An industrial credit system is fundamental for industrial infrastructure. The cry for investing in industry is over 100 years old in Sri Lanka. The Banking Commission Report of 1935 records the popular demand for financing industries.

• The capitalist media is also not fully reporting on parliament’s COPE hearings, but rather emphasizes enormous losses and mismanagement. Yet the undermining of these national institutions has been a long-term plan. But whoever chose those derelict managers were promoting the ruling Bretton Woods philosophy:

     ‘Their main macro strategy is to fiscally weaken the State and bring the state under corporate “fiscal discipline”. Many of the “leading” oligarchs in Sri Lanka made their money from privatization.’ ‘Captains of Business’, as the latest LMD magazine calls them. (ee Media)

     Stripping public services is what they did in most municipalities in the US. New York is the best example. US President Trump was one ‘rentier’ who got rich from this privatization process.

The World Bank’s International Finance Corporation (IFC) is heavily involved with the corruption-ridden Vizhinjam port in Trivandrum, Kerala, owned by the Adani Group. The IFC was appointed as the lead advisor to this Kerala port, marketing the project to potential bidders, local and foreign. In 2016, India extended the UN Privileges & Immunities Act, which confers legal immunity as enjoyed by foreign missions and diplomats, to the IFC, the private sector lending arm of the WB Group.

     Vizhinjam was set up to compete with Colombo Port. Critics of Adani’s takeover of our East Container Terminal, point out they have every reason to run Colombo Port to the ground. Both the Vizhinjam port and Cochin International Container Transhipment Terminal (built in 2011) were supposed to wean away container transhipment traffic bound for Colombo Port. They wished those 2 ports to not compete with the existing 200 Indian ports but ‘take the fight to regional hubs’ eg Colombo, Dubai, Salalah, Singapore.

     Indian ports plan to offer ‘faster, better and cheaper’ ways to reach Asian, African, European, American markets by attracting mainline ships, as well as shipping from important sources of coal and natural gas in the region – Australia, Indonesia, S/E Africa. The Sunday Times meanwhile points to Mauritius (once majority African, now 70% Indian) as a potential shipping competitor to Sri Lanka, even joining in the NATO-UN attacks on SL (ee Sovereignty, Caution).

2 weeks ago (Jan 2) ee recorded the IFC taking control of the Commercial Bank (ComBank), operating through them in Myanmar. This week the WB-IFC approved a US$7million loan to Sunshine Holdings to support the acquisition of confectionery manufacturing company Daintee – ‘a market leader in sweets and toffee category in SL with 40% market share’, also controlling access to 90,000 retail outlets, ‘kadays’ across the country.

     The IFC portfolio is a major player in the big companies of ‘emerging’ markets (the thing about ‘emerging’, like ‘developing’, is we seem not to ever emerge or develop!). IFC invests in strategic companies that can best push the Bretton Woods Agenda of privatization and deregulation of public goods. IFC provides credit lines to banks to undermine and buy up public goods. These private banks are not interested in wealth creation.

     IFC also made a $25million investment in Nations Trust Bank this week. Last year IFC also invested $175million in John Keells Holdings, of which NTB is a subsidiary. Keells is also involved with Adani in the Colombo Port’s ECT, as well as with old English pirate P&O in the Queen Elizabeth Quay, where South Asia Gateway Terminals is owned by Keells.

     P&O Ports also operates the Nhava Shiva International Container Terminal at Jawaharlal Nehru, India’s largest port. ‘The first roadblock to the Hambantota Port project was placed by P&O,’ recalled The Island, ‘If Hambantota was developed as a major hub port it would have posed a threat to Indian ports, like Nhava Shiva developed by P&O and now competing with Colombo.’ (see ee 2 Nov 2019)

     Keell’s last year hosted ‘legendary Emerging Markets’ investor Mark Mobius who advocated throwing public enterprises (SOEs) onto the market, without using the word ‘Privatization’.

     Last week, Keells Chairman Krishan Balendra was appointed to head a government deregulation commission. Krishan is, as was father Ken, also chairman of Brandix. Krishan’s brother-in-law Milinda Moragoda is current SL High Commissioner to India. Corporate nepotism is not a media gossip item.

     The welcoming of the deregulation commission by the so-called SME lobby should be a warning… As P&O history recalls, shipping was intimately linked to the entire plantation economy. Our longer history points to great ship and boat building the English could not compete with, and had to legislate against. Greater than any bank scandal, is the waste of local skill and technique, of worker power. Or perhaps, this is the greatest bank corruption and scandal.

• Meanwhile, capitalist employers are baring their fangs – both refusing to modernize technique (keep those fingers plucking!) as well as opposing wage increases for plantation workers. Plantation workers represent the minimum benchmark for all workers in Lanka.

     80% of tea sector profits are stolen by licensed export firms. These firms and Regional Plantation Companies are mainly owned by large conglomerates eg Aitken Spence (whose former chair accompanied Rothschild, this week), MJF Holdings, Valibell Plantations Management, Richard Pieris & Co, James Finlay Plantation Holdings, Sunshine Holdings, Hayleys etc. It’s illegal for a single entity to own both RPCs and licensed export firms, according to the SL Tea Board. Rule of law indeed!

     Sunshine, Keells etc control the Ceylon Chamber of Commerce, and are largely front groups for even bigger English multinationals like Unilever, Ceylon Tobacco, who control and rob our home market, and supply these so-called locals with imported goods.

• We definitely need national discussion about finance and the failure to invest in industrialization. 1956-77, industrialization was state-driven, mainly by SOEs. Without a positive anti-trading regime, it would not be possible to industrialize to even match that period.

     Philip Gunawardena met with the unions and explained to them what the government was going to do with the banking sector and investment. Our unions informed policy, providing vital support to the government.

• How do we highlight important economic and related political issues and draw people’s attention to the need to transform the economy? The media purposely misuses terms like ‘manufacture’, ‘entrepreneur’, highlighting stray inventions and promises, when industry has to be a holistic political, economic and military strategy;

     A foreign embassy this week was accused of illegally breaking import restrictions on auto parts. The media refused to name them, only mentioning the parts came from rule-of-law Singapore.

• The anti-investment mafia is an international gang backed by the leading imperialist states and their banks, both public and private. In Sri Lanka, they are headed by the top merchant houses and their banks, with great help from the state, regardless of ruling party.

     No ‘development’ (ahh! a horrible word) is possible without investment in modern industrial production. And no investment is possible without taking on the trader mafia. Taking on the trader mafia will require a cultural revolution, which is clearly evident beneath the radar of the capitalist political class. A cultural revolution is what the President needs now to overcome all the obstacles and negativity the country faces. People are just awaiting his word. Let not their yearning be hijacked by fake nationalists and leftists.

• Peasants’ & workers’ banks could provide needed backup to a major cooperative development intervention. Germany’s long-standing regional and local state banks, composed of a strong interconnected network of state and cooperative banks, contribute to economic development. Post-war Japan’s networks of local credit unions and municipal development funds were critical to its supply chain development in its most important industries. Brazil’s community development banks and China’s Urban Credit Cooperatives and Rural Credit Cooperatives provide local financial models that have successfully promoted needed industrialization and community wealth.

Japanese multinationals like SoftBank (whose main lender is Japan’s 3rd biggest bank Mizuho Financial Group, lost big in 2008 meltdown) invest in really long-term startups, some even scaleups – reinforcing companies that show long-term growth.

     In Sri Lanka, SoftBank operates (with Saudis) an INGO called Vision Lanka, which lends to the highly impoverished. They collect that data to determine their repo lending to the SL microcredit bubble…

     SoftBank owns shares of Facebook, Uber, AirBnB etc, PickMe soon too if they’ve not already bought it. Softbank has a monopoly in most niche markets. Zomato acquired UberEats in India, SoftBank owns both. European venture capitalists are really angry about having to compete with this massive fund. Yet, these are highly overpriced assets. SL banks need to invest in more basic modern industry.

• An economic analyst & ee reader this week recalled: ‘Financialization is the way of the world’ so our bodies and minds should be directed to make it invest in modern industrialization. S/he claims our present banks are ‘shadow banks’. Shadow banks are financial institutions primarily run by money-market instruments, like CMOs and CDOs (which caused the 2007 crash). They make money not by improving assets but by brokering assets. They mostly borrow from state banks and repo markets. ‘Shadow’ also means they are not fully regulated. New China regulates such lending behavior, but it’s quite a volatile business, for the finance game is all about rate of return.

     Our state role is really weak and finance is taking over. So we have 2 paths: we can stay blind, or we can accept that reality and actually make finance facilitate industrialization.

     One reason we don’t have R&D is because we don’t have such long-term oriented investments. Capitalists, dominated by the trader mentality, are making massive short-term profits thru ‘rents’, and have to be forced to invest in industry (as much of the ‘developed’ world has done). If not, the state has to do so. We should reinforce our national assets (rather than selling them off as the capitalists wish to do with national corporations) and provide a forward guidance plan so that they can see long-term growth.’

• Why do we have to listen to this incessant braying? (and ee doesn’t just mean the donkeys (Equus africanus asinus) in strategic Mannar whose welfare Australia and Japan seem so concerned about)

     We mean the local media’s abject concern about Geneva & debt, and what the white man thinks of us. Is it because it’s not-yet nidhahasa – our seas and skies let alone our ports and airports are held in thrall to brown sahibs to the north and west of us.

     Certainly our labor power and land – our economy – is still controlled from London and Washington. Not just through GSP+ and tea & bond auctions and tourist agencies who skin off most of the money before it even gets here. Yet the media has absolutely no sense of promoting a producer culture, which could overcome such debt wailing, and the regular pilgrimage to the school master in Geneva, which no white country countenances.

We need a new media system. A media that’s not controlled by other governments or their corporations. Easier said than done. Access to information spans access to new science and technology, as well as day-to-day news, now dominated by the deadly idiocy of the tax-sheltered PR industry.

     The media refuses to even allow any discussion of scientific socialist alternatives. What’s allowed is a mere pale whitish shade of pink, romanticism, utopianism and nihilism. This is a stand-in for a real socialist program. Instead, what the capitalist media is striving for, despite any protests, is corporate rule. The media we have actively prevents access to modern producer information and culture.

_____________

B. Special Focus_

_______________

B1. White Settler Uprising at the Capitol – Glen Ford

Last week’s assault on the Capitol was essentially a ‘race riot’, the product of white racial grievance.

‘If it can happen in the US, it can happen anywhere,’ wrote New York Times Berlin bureau chief Katrin Bennhold, purporting to sum up world leaders’ reaction to the white nationalist assault on the US Capitol.

     The truth is precisely the opposite: mob violence by white people, aggrieved at perceived threats to their political hegemony, due to the growing influence or presence of the Other – most often, Blacks – is trademark Amerikana, a historically repetitive phenomena that is, to varying degrees, also characteristic of other white settler states that share the USA’s genocidal history.

     It cannot ‘happen anywhere’, because similar conditions and histories do not exist everywhere. Bennhold’s interpretation of global sentiment is pure ‘Amerikan exceptionalist’ propaganda – an erasure of US history to project a false view of the present…

     White mobs and armed groups have been inflicting violence against the non-white presence in their colonial settler state ever since their ancestors arrived on these shores. The Puritans – a colony-in-arms – had all but completed the mission of racially ‘purifying’ New England within a century of setting foot at Plymouth Rock.

     Far more Native Americans were killed by massed, armed settler civilians than by uniformed armies of the English Crown or the young US republic. Whites in the slave states of the South were a people perpetually in arms in ‘defense’ against slave rebellions, with every able-bodied white man obligated to aid in suppressing real or threatened Black revolts. 100s of Blacks were massacred in the wake of Nat Turner’s 1831 rebellion.

     Northern white mobs also rejected the Black presence in their cities in the pre-Civil War era. Racists attempted to drive Black people out of Cincinnati, Ohio, 3 times: 1829, 1836, 1841. (In 1853 and 1855, white Cincinnati nativists also fought with German immigrants influenced by revolutionary trends in Europe.)

     After the Civil War, white mobs and racist armies spent 30 years subduing Black Reconstruction, from the New Orleans massacre of 1866 to the armed overthrow of the Black Republican-white Populist government in Wilmington, North Carolina’s largest city, in 1898. During this period 10,000s were killed – far more than the 4000-plus Black lynching victims recorded by the great journalist/organizer Ida B Wells.

     White civilians annihilated the remaining natives of California in the gold and land rushes, and terrorized and forced the mass expulsion of Chinese from the state.

     For the first 160 years of the US republic’s life, the term ‘race riot’ applied almost exclusively to white mob attacks on nonwhites. Every boxing victory won by Black heavyweight champion Jack Johnson set off lethal rampages by northern and southern whites in the early years of the 20thC. The “Red Summer ” of 1919, dubbed such by the Black public intellectual and activist James Weldon Johnson, saw white ‘race riots’ in dozens of cities and the massacre of 100s of Blacks in rural areas around Elaine, Arkansas. In Washington, DC, however, Blacks fought back, killing 15 white attackers while losing 38 to the mob. Heartened by the Black resistance to armed racist assault, Black poet-activist Claude McKay wrote the poem If We Must Die:

…O kinsmen! we must meet the common foe!

Though far outnumbered let us show us brave,

And for their 1000 blows deal one death-blow!

What though before us lies the open grave?

Like men we’ll face the murderous, cowardly pack,

Pressed to the wall, dying, but fighting back!

     Just as the current president is blamed for inciting the white mob in Washington, President Woodrow Wilson was viewed as a prime instigator of mass racist violence during his terms in the White House, including the East St Louis riot that claimed the lives of 1000s of Black people in 1917. An arch-segregationist who introduced Jim Crow to the federal civil service, Wilson endorsed the Ku Klux Klan-glorifying film Birth of a Nation as ‘History written in lighting’ in 1915. The president-endorsed movie ushered in a ‘gilded age for the Klan’. In the summer of 1925, 30,000 hooded terrorists paraded in a show of force in Washington, DC.

     The term ‘race riot’ was synonymous with white mob attacks against people of color until 1935, when an estimated 4,000 Blacks in Harlem, NY, took to the streets against police brutality. Harlem exploded again in 1943 for the same reasons, establishing the modern pattern of police repression and Black urban resistance. (The “Zoot Suit” riot by white servicemen and cops against Latinos in 1943 Los Angeles was a mixture of both old and new patterns of white domestic aggression.)

     Police repression/Black urban resistance has become such a part of the modern US experience that white mob violence is often not characterized as ‘race riots’ – especially if the rioters are cops.

     Race has been as central to Trump’s presidency as it was to Wilson’s, a century ago. Last week’s assault on the Capitol was essentially a race riot, the product of white racial grievance. Since 1968, the Republicans have successfully sought to position themselves as the White Man’s Party. Not since 1964 has a majority of whites voted for a Democratic presidential candidate, and Trump won 57% of white votes last November. Having feasted on Trump’s racist ‘red meat’ rhetoric for the past 5 years, the most volatile elements of the white hordes mounted an assault on the ‘nigger lovers,’ as they used to describe people perceived as allies of Blacks, on Capitol Hill.

     Of course, the US Capitol is no stronghold of Black Power – the Congressional Black Caucus voted overwhelmingly to make police a protected class, in 2018, and to continue the Pentagon’s militarization of local cops, in 2014. But racists are cognitively challenged; they see phenomena that doesn’t exist, and are blind to what’s right in front of their eyes. The denizens of white settler colonies, worldwide, have always perceived their states as precarious outposts of ‘civilization’ – a worldview that justifies any and all atrocities against the natives and imported ‘lesser’ humans, including genocide.

     Given the mass murderous record of every white settler colony on the planet – which includes all the nations of the Americas, with the possible exception of Caribbean countries – it was surprising to find that only one recent book on Latin American white settler states turns up in a Google search engine. Richard Gott’s Latin America as a White Settler Society, 2007 by the Bulletin of Latin American Research, can be read at JSTOR. Gott sees race as central to understanding the white settler mentality, even many generations after settler arrival on foreign shores:

     “A recognizable feature of all ‘settler colonial’ states is the ingrained racist fear and hatred by white settlers, alarmed by the continuing presence of the expropriated underclass. It is built-in to the history of the European colonial states in Africa as well as that of the antipodean colonies of Australia and New Zealand. Yet the race hatred of the settlers has only had a minor part in our traditional understanding of the drama of Latin American history and contemporary society. It is often underplayed or ignored – as it is too in the USA – and even politicians and historians of the Left have preferred to discuss class rather than race.”

     In the case of the US, US exceptionalism erases actual history and denies US commonality with any other nation. New York Times reporter Katrin Bennhold can get away with pretending that the US is both unique and a bellwether for ‘democracy’ everywhere on the planet – which is ridiculous on its face. The events at the Capitol are absolutely consistent with racist white mob behavior throughout US history, and totally understandable in the white colonial settler context. Outside of that context, these events make far less sense.

     The US is best understood as the first of the planet’s white colonial settler states – a species of state that includes most of the rest of the western hemisphere, Australia, NZ, and the last of the settler breed, Israel.

     In clinging to the exceptionalist fallacy that the US is a model of democracy and unique in the world, rather than the end-product of colonial white settler predation, the Democrats reveal that they share much the same delusions as the flagpole-wielding Trumpsters they revile.

– blackagendareport.com/white-settler-uprising-capitol

__________________________________________________________

C. News Index______________________________________________

ee News Index provides headlines and links to gain a sense of the weekly focus of published English ‘business news’ mainly to expose the backwardness of a multinationally controlled ‘local media’:

C1. Sovereignty

(ee is pro-politics, pro-politician, pro-nation-state, anti-corporatist, anti-expert, anti-NGO)

ee Sovereignty news emphasizes sovereignty as economic sovereignty – a strong nation is built on modern industrialization fueled by a producer culture.

• Foreign funders, clueless Parliamentarians modernizing land laws with technology risking Land Sovereignty

‘It is unfortunate that since independence no government has seen fit to review colonial laws & revise them to suit post-independent sovereign Sri Lanka.’

– lankaweb.com/news/items/2021/01/15/foreign-funders-clueless-parliamentarians-modernizing-land-laws-with-technology-risking-sri-lankas-land-sovereignty

• Nathaniel Rothschild comes to town

‘They owned some of the biggest and best-cultivated coffee plantations in the island’

– dailymirror.lk/breaking_news/Nathaniel-Rothschild-in-town/108-203686

– newsfirst.lk/2021/01/13/nathaniel-rothschild-in-sri-lanka/

• Port City Colombo attracts world’s top investor Nathaniel Rothschild

‘He was accompanied by prominent Sri Lankan born English politician and former EU parliamentarian Niranjan Deva Aditya and former Aitken Spence Managing director Rajan Brito….Today onwards he is scheduled to visit tourist sites including the Cultural Triangle and slated to leave Sri Lanka on 21 January, the very day when Sri Lanka’s borders are re-opened for international tourists.’

– ft.lk/front-page/It-is-a-biz-and-leisure-trip-for-Nat-Rothschild/44-711666

– bizenglish.adaderana.lk/port-city-colombo-attracts-worlds-top-investor-nathaniel-rothschild/

• EU to ‘raise concerns’ with Sri Lanka

‘The EU office in Sri Lanka had tweeted earlier that the EU was saddened by the destruction of the monument at the Jaffna University….The meeting takes place ahead of the UN Human Rights Council session in Geneva which begins in February.’

– dailymirror.lk/breaking_news/EU-to-raise-concerns-with-Sri-Lanka/108-203786

• SL human rights seriously deteriorated under Gotabaya Govt: US Human Rights Watch

– dailymirror.lk/breaking_news/SL-human-rights-situation-seriously-deteriorated-under-Gotabayas-Govt-Report-shows/108-203760

• US envoy in Colombo deeply disappointed with appalling incidents in Washington

‘Americans strive to form a more perfect union but that aspiration lays bare the imperfections even as it promises a body politic that is more fair, equitable, and diverse.’

– island.lk/us-envoy-in-colombo-deeply-disappointed-with-appalling-incidents-in-washington/

• Washington after all the fuss

 ‘The US will resume lecturing the world about democracy, peace, human rights, co-existence and reconciliation. Representatives of the nations targeted will have to swallow down the giggles, IF they do see the hypocrisy that is — let’s not bet on that!

– gammiris.lk/washington-after-all-the-fuss/

• Ah! Comme c’est beau! (‘How beautiful it is!’)

‘Not too long ago, when US-backed ‘democracy activists’ trashed the HongKong legislature, and put up the English and US flags, US Speaker of the House Nanci Pelosi said, ‘It is a beautiful sight to behold!’’

– gammiris.lk/ah-comme-cest-beau-how-beautiful-it-is/

• Ambassador Alaina B Teplitz and US ‘perfection’

‘‘As Americans, we strive to form “a more perfect union,”’ she says. In other words, it’s already perfect. What’s beyond perfect, we do not know. The bottom line is, at worst, the USA is ‘perfect’! Neat, ain’t it?’

– gammiris.lk/ambassador-alaina-b-teplitz-and-us-perfection/

• Why didn’t UN call for Dialogue in US?

– island.lk/cop-killings-terror-and-duplicity/

• Biden names former UN Ambassador Power to lead USAID

‘“Power will rally the international community and work with our partners to confront the biggest challenges of our time – including COVID-19, climate change, global poverty, and democratic backsliding,”’

– ft.lk/front-page/Biden-names-US-former-UN-Ambassador-Power-to-lead-USAID/44-711617

• Her Majesty’s Ceylon became a Republic triggered by January 27 Coup

‘‘the endeavour was to safeguard their eroding status, loss of power and position, caused by the transition of power in 1956 which contributed to the motivation of those responsible from a minority ‘Brown Sahib’ elite to the common majority’.

– dailymirror.lk/opinion/Her-Majestys-Ceylon-became-a-Republictriggered-by-January-27-Coup/172-203496

• Declassified Document states Sri Lanka listed in US strategic framework

– dailymirror.lk/breaking_news/Declassified-Document-states-Sri-Lanka-listed-in-US-strategic-framework/108-203723

• The SJB-TNA combine as India’s pawn

‘We can conclude that Jaishankar’s meetings with the President, Prime Minister and the Minister of Foreign Affairs was just eyewash. He just wanted to meet the likes of Sumanthiran and Sajith Premadasa. The Ugly Indian has made an appearance. Dayan, Sajith, the SJB, TNA and Sumanthiran have paid their respective respects. We’ve read that script somewhere and it’s not pretty.’

– gammiris.lk/the-sjb-tna-combine-as-indias-pawn/

• TNA seeks an ‘almost separate state’

– island.lk/tna-seeks-an-almost-separate-state/

• The President’s problems – Rajiva Wijesinha

‘The President and his troops should begin by laying down what can and should be done best by small units, with intimate knowledge of local problems. Their work should be functional, and go hand in hand with the Divisional Secretariats.’

– island.lk/the-presidents-problems/

• Jaishankar expects ‘equality, justice, peace and dignity’ limited only to Tamil people?

– island.lk/in-sri-lankas-own-interests/

• Covid-19 pandemic can be overcome if it’s dealt as a National Challenge – Vitarane

– island.lk/covid-19-pandemic-can-be-overcome-if-its-dealt-as-a-national-challenge/

• Import vaccine after WHO approval : GMOA

– newsfirst.lk/2021/01/15/import-vaccine-after-who-approval-gmoa/

• President writes to China seeking access to Chinese Covid vaccine

– dailymirror.lk/breaking_news/President-writes-to-China-seeking-access-to-Chinese-Covid-vaccine/108-203642

• “Are we being compelled to fully implement 13A, in return for Covid-19 vaccine?’

‘Sri Lankan envoy in Myanmar questions Indian strategy’

– island.lk/are-we-being-compelled-to-fully-implement-13a-in-return-for-covid-19-vaccine/

• Sri Lanka will likely receive Oxford-AstraZeneca vaccine through COVAX: Lalith Weeratunga

‘“The Oxford vaccine is now being produced in India’

– economynext.com/sri-lanka-will-likely-receive-oxford-astrazeneca-vaccine-through-covax-lalith-weeratunga-77769/

• Oxford and Pfizer expected next month

– lankaweb.com/news/items/2021/01/12/oxford-and-pfizer-expected-next-month/

• SLPA better at managing terminals, trade unions say

– newsfirst.lk/2021/01/15/slpa-better-at-managing-terminals-trade-unions-say/

• Political & Union forces unite to oppose Sri Lanka’s Port Terminal sale

‘India already operates 13 major ports and 187 minor and intermediate ports, that adds up to a total of 200 ports.’

– newsfirst.lk/2021/01/14/a-broad-discourse-on-the-east-container-terminal-at-present/

– newsfirst.lk/2021/01/11/political-union-forces-unite-to-oppose-sri-lankas-port-terminal-sale/

– island.lk/fsp-slams-president-for-appeasing-india-by-surrendering-ect/

– newsfirst.lk/2021/01/15/govt-wont-ink-harmful-agreements-bandula/

– island.lk/indo-lanka-agreement-on-ect/

– newsfirst.lk/2021/01/15/ect-what-are-indias-interests-and-why/

• ECT given to India’s Adani to win loan request : Tilvin

– newsfirst.lk/2021/01/14/ect-given-to-indias-adani-to-win-loan-request-tilvin/

• “Selling the Family Silver” and India-Sri Lanka bilateral relations

‘In other countries, empty hotels are being taken over by the government and converted to new uses like urban housing; however our authorities seem more concerned about allocating land in water shortage areas like Kalpitiya and Mirissa for 600 room hotels, so called “foreign” investments promoted by local barons.’

– island.lk/selling-the-family-silver-and-india-sri-lanka-bilateral-relations/

• Strong note of caution from India

‘India cautioned this week that it is in Sri Lanka’s “own interest” to fulfil “commitments made to New Delhi on meaningful devolution, including the 13th Amendment to the Constitution.”… Mauritius sponsored the resolution against Sri Lanka at the UN Human Rights Council together with the United States. It also boycotted the Commonwealth Heads of Government summit in Colombo.’

– sundaytimes.lk/210110/columns/strong-note-of-caution-from-india-427803.html

• ECT agitation continues unabated

– sundaytimes.lk/210110/business-times/ect-agitation-continues-unabated-427294.html

• JVP protests against “sale” of ECT to Indian firm

‘an entity embroiled in a sugar scam is also linked to the Adani Group.’

– youtube.com/watch?v=J1gIaslkgwA

– newsfirst.lk/2021/01/12/jvp-protests-against-sale-of-ect-to-indian-firm/

– sundaytimes.lk/article/1132093/in-pictures-jvp-protests-over-plans-to-sell-national-assets

– newsfirst.lk/2021/01/13/adanis-local-agent-ally-of-government-jagoda/

• Adani Group of India also building a port in Kerala

‘A competitor port in every sense of the word…John Keells Holding is expected partner of Adani’

– dailymirror.lk/opinion/Political-economy-of-accusation-guilt-and-punishment/172-203719

– island.lk/prez-confirms-adani-groups-role-in-ect/

– ft.lk/front-page/Ownership-of-ECT-with-Govt-and-49-stake-to-be-held-by-India-s-Adani-Group-President/44-711622

– lankaweb.com/news/items/2021/01/13/lankan-president-says-eastern-container-terminal-will-be-a-jv-between-lanka-india-and-other-parties/

– economynext.com/sri-lanka-port-terminal-indias-adani-group-and-partners-to-hold-49-pct-77801

– dailymirror.lk/business__main/President-clears-the-air-on-East-Container-Terminal/245-203751

• Jaishankar expressed concerns over China’s ‘influence’ in Indian projects

– sundaytimes.lk/210110/news/jaishankar-expressed-concerns-over-chinas-influence-in-indian-projects-427885.html

• What was Jaishankar’s Agenda?

‘Sri Lanka economic recovery from minus 3.9% (2020) to positive 3.3% (2021) should not be tarnished with failure to scrap 13A’

– lankaweb.com/news/items/2021/01/09/what-was-jaishankars-agenda-sri-lanka-economic-recovery-from-minus-3-9-2020-to-positive-3-3-2021-should-not-be-tarnished-with-failure-to-scrap-13a/

• Indian Foreign Minister’s call for caution

‘those who were privy to private discussions and those who read between lines might have noticed them: the geopolitics of India’s security sensitivities’

– dailymirror.lk/opinion/Indian-Foreign-Ministers-call-for-caution/172-203582

• Dayan’s genuflection before India is legendary

– lankaweb.com/news/items/2021/01/10/the-quad-halved-then-drawn-and-quartered/

• Crazytown, South Asia: Ahead lies the abyss – Jayatilleka

– ft.lk/columns/Crazytown-South-Asia-Ahead-lies-the-abyss/4-711593

• War is in the air?

‘A beleaguered president stages a phony war to rescue his political future’

– ft.lk/columns/War-is-in-the-air/4-711570

• India-Lanka ties in choppy waters again? – Deccan Herald

‘India will continue to call on Colombo to implement the 13th Amendment. Tamil Nadu is set for Assembly elections soon and the BJP, which is seeking to make a major foray into the state, will be careful to avoid riling Tamil voters on a matter as sensitive as that of Sri Lankan Tamils.’

– deccanherald.com/opinion/second-edit/india-lanka-ties-in-choppy-waters-again-937961.html

• Pillayan’s two-point agenda for Lanka’s Eastern Province

– lankaweb.com/news/items/2021/01/13/pillayans-two-point-agenda-for-lankas-eastern-province/

• PAFFREL: If PCs are not wanted they should be abolished through new Constitution

– island.lk/paffrel-if-pcs-are-not-wanted-they-should-be-abolished-through-new-constitution/

• Will Gota Mess Around With 13A?– David

– colombotelegraph.com/index.php/will-gota-mess-around-with-13a/

• Pathfinder Indian Ocean Security Conference Report for Indian External Affairs Minister

– island.lk/pathfinder-indian-ocean-security-conference-report-presented-to-indian-external-affairs-minister/

• Atul Keshap adds voice to growing criticism over Capitol Hill attack

– sundaytimes.lk/210110/columns/atul-keshap-adds-voice-to-growing-criticism-over-capitol-hill-attack-427858.html

• The Quad halved, then drawn and quartered.

‘Jaishankar, a retired diplomat and former Foreign Secretary, is well-known for working out ‘friendship’ with the USA and is mentioned for his role in the Indo-US civilian nuclear agreement. Just the other day, he signed on behalf of India, the Basic Exchange and Cooperation Agreement on Geospatial Cooperation (BECA) with the USA.’

– lankaweb.com/news/items/2021/01/10/the-quad-halved-then-drawn-and-quartered/

• JVP: This is not the time for PC polls, govt. should deliver constitutional reforms

– island.lk/jvp-this-is-not-the-time-for-pc-polls-govt-should-deliver-constitutional-reforms/

• Jaffna tense as war memorial is destroyed

 – economynext.com/jaffna-tense-as-war-memorial-is-destroyed-77705/

– sundaytimes.lk/article/1131886/tension-at-jaffna-university-as-war-memorial-demolished

• SLMC to join Harthal in north and east today

– dailymirror.lk/breaking_news/SLMC-to-join-Harthal-in-north-and-east-today/108-203505

• Foundation stone laid to rebuild flattened war monument at Jaffna Uni

– dailymirror.lk/breaking_news/Foundation-stone-laid-to-rebuild-flattened-war-monument-at-Jaffna-Uni/108-203539

• Protesters win the day at Jaffna University

– island.lk/protesters-win-the-day-at-jaffna-university

– island.lk/mp-sritharan-sets-poser-for-ugc/

• Jaffna VC assures reconstruction of war memorial as N&E observe hartal

– sundaytimes.lk/article/1131906/jaffna-vc-assured-to-reconstruct-war-memorial-as-ne-observe-hartal

• Unauthorised constructions cannot be permitted within university premises – GL

– island.lk/unauthorised-constructions-cannot-be-permitted-within-university-premises-gl/

• Jaffna State University cannot allow proscribed LTTE terrorist monuments

– lankaweb.com/news/items/2021/01/09/jaffna-state-university-cannot-allow-proscribed-ltte-terrorist-monuments/

– dailymirror.lk/breaking_news/Jaffna-Uni-War-memorial-removed-by-Vice-Chancellor-UGC-Chief/108-203469

– economynext.com/more-protests-in-jaffna-over-removal-of-war-memorial-77717/

– sundaytimes.lk/210110/news/jaffna-university-war-memorial-demolished-hartal-in-ne-tomorrow-427876.html

• Invoking the Undead Tiger, Eternal Bogeyman: Consequences of Forgetting the Past

– dailymirror.lk/opinion/Evoking-the-Undead-Tiger-Eternal-Bogeyman-Consequences-of-Forgetting-the-Past/172-203583

• Deeply saddened by the scenes at Jaffna University; English Minister

– dailymirror.lk/breaking_news/Deeply-saddened-by-the-scenes-at-Jaffna-University-UK-Minister/108-203481

• Leos of Kalubowila and University of Zimbabwe share culture exchange

‘It was amazing to know about the Ndebele, Tonga and Maniyak cultures in Zimbabwe along with the art, languages and food that made their country unique while the Kalubowila Leos shared a glimpse of Sri Lankan culture in the same manner’

– island.lk/leos-of-kalubowila-and-university-of-zimbabwe-share-culture-exchange/

• Sri Lanka Ambassador-Designate to Japan assume duties

‘Sanjiv Gunasekara runs several businesses in Los Angeles’

– island.lk/sri-lanka-ambassador-designate-to-japan-assume-duties/

• Sri Lanka’s Evil Triangle- Is it possible to ‘Educate’ Austin Fernando?

“You are a man of Catholic Action”

– lankaweb.com/news/items/2021/01/10/sri-lankas-evil-triangle-is-it-possible-to-educate-austin-fernando/

• The Tamil menace in Sinhale (Sri Lanka) its historical perspectives and present ramifications

– lankaweb.com/news/items/2021/01/15/the-tamil-menace-in-sinhale-sri-lanka-its-historical-perspectives-and-present-ramifications/

• Authoritarian (in)efficiency and the undermining of democracy in Sri Lanka

 ‘The writer is a Fellow, Open Society Foundations. She was a Commissioner, Human Rights Commission of Sri Lanka from 2015-2020.’

– ft.lk/columns/Authoritarian-in-efficiency-and-the-undermining-of-democracy-in-Sri-Lanka/4-711439

• New Bangladesh HC briefs President on socio-economic development in his country

– island.lk/new-bangladesh-hc-briefs-president-on-socio-economic-development-in-his-country/

• Boris Johnson has done Modi a favour

‘We don’t need to hinge India-UK relations on shared hostility toward China.’

– indianpunchline.com/boris-johnson-has-done-modi-a-favour/

• China’s 70th Anniversary of the War to Resist U.S. Aggression and Aid Korea

– qiaocollective.com/en/articles/70th-anniversary-korean-war

• What Does Critique Do? — On the Critical Predation of China

‘The Western left has largely fallen in line behind interventionist platitudes of “standing with the Chinese people, not the Chinese government.”…it is greasing the wheels for Western imperialist intervention under the auspices of a “new” Cold War.’

– qiaocollective.com/en/articles/what-does-critique-do

• The War On China

– qiaocollective.com/en/articles/war-on-china

• Australia’s China Problem

‘We have failed to devise a middle way between sycophancy and hostility… Australia’s huge economic dependence on China – the market for more than one-third of our exports, far more than the US or any European country – gives us no choice but to get along with our larger regional neighbour.’

– asialink.unimelb.edu.au/insights/australias-china-problem

• Germany draws another line in the sand for the US

‘On January 4, Foreign Minister Heiko Maas told the news agency Deutsche Presse-Agentur DPA that Berlin will not yield to pressure from Washington in their dispute over Nord Stream 2 even after the transfer of power in the US in January.’

– indianpunchline.com/germany-draws-another-line-in-the-sand-for-the-us/

• Dear Congress – Stop Wasting Time With Impeaching Trump – End His Famine In Yemen

‘Six years of war between a U.S.-backed Arab coalition and the Iranian-backed Houthi rebels have been catastrophic for Yemen. Most of its 30 million people rely on international aid to survive.’

– moonofalabama.org/2021/01/dear-congress-stop-wasting-time-with-impeaching-trump-end-his-famine-in-yemen.html

• Topmost Israeli human rights organization finally describes both Israel and its control of Palestinian territories as a single apartheid regime

– moonofalabama.org/

• Firm, absolute condemnation of fraudulent qualification of Cuba as a state sponsor of terrorism

– en.granma.cu/cuba/2021-01-12/firm-absolute-condemnation-of-fraudulent-qualification-of-cuba-as-a-state-sponsor-of-terrorism

• How a Lawbreaking International Coalition Failed to Overthrow Venezuela’s Government

‘More fundamentally committed to regime change in Venezuela are Canada and Colombia, which is why the Lima Group could be more accurately known as the Ottawa Group or the Bogotá Group.’

– newsclick.in/how-lawbreaking-international-coalition-failed-overthrow-venezuelas-government

• No matter Impeachment 2.0, Trumpism haunts America

‘For the outside world Trump Impeachment 2.0 can only appear as a kangaroo trial. A better way for the US lawmakers would have been to pass a law that the US shall never ever promote “colour revolution” abroad or at home. The US has destroyed so many countries by inciting their peoples to besiege established governments and force them to capitulate to drag them into its orbit. Are they to be called “insurrections”?’

– indianpunchline.com/no-matter-impeachment-2-0-trumpism-haunts-america/

• White Settler Uprising at the Capitol

– blackagendareport.com/white-settler-uprising-capitol

• The United States Has Entered a Frightening Weimar Era

– commondreams.org/views/2021/01/07/united-states-has-entered-frightening-weimar-era

• Meet the “Conservative” Groups that Fueled a Violent Insurrection at the Capitol on January 6

– wallstreetonparade.com/2021/01/meet-the-conservative-groups-that-fueled-a-violent-insurrection-at-the-capitol-on-january-6/

• The Untold Story of How the Republican Attorneys General Association, Funded with Large Sums from Corporate Felons, Including OxyContin Drug Pusher Purdue, Participated in Recruiting the Mob that Attacked the Capitol

– wallstreetonparade.com/2021/01/the-untold-story-of-how-the-republican-attorneys-general-association-funded-with-large-sums-from-corporate-felons-including-oxycontin-drug-pusher-purdue-participated-in-recruiting-the-mob-that-atta/

• US diplomats in extraordinary protest against Trump for riot

– apnews.com/article/election-2020-donald-trump-foreign-policy-riots-michael-pence-67d0d9312c638a465d7682d08982161a

• Freedom Rider: Capitol Riot Brings U.S. Foreign Policy Home

– blackagendareport.com/freedom-rider-capitol-riot-brings-us-foreign-policy-home

• Democrats Use Capitol Incident To Suppress Political Dissent

‘In 2019 Adam Schiff, the unhinged Russia basher who has falsely claimed that he had evidence of a Trump collusion with Russia, introduced a ‘domestic terrorism’ bill that will now likely be taken up.’

– moonofalabama.org/2021/01/democrats-use-capitol-incident-to-suppress-political-disagreement.html#more

• US may annoy adversaries but means no harm

“Pompeo came out of the same Wichita, Kansas, business community where the Koch family’s oil-and-gas conglomerate is headquartered. Indeed, Pompeo built his own company with seed money from Koch Venture Capital.”

– indianpunchline.com/us-may-annoy-adversaries-but-means-no-harm/

• Breach of Capitol Security Was Like a Military Operation

‘A “disproportionate percentage” of the Capitol building attackers “were former military, former law enforcement, or current law enforcement that began rappelling up the sides of the Capitol with ropes.”… the House and Senate Intelligence Committees are basically just ciphers for the CIA and FBI. They have CIA and FBI staff attached to each party to provide them with their so-called intelligence”’

– blackagendareport.com/max-blumenthal-breach-capitol-security-was-military-operation

• Yes, It Was a Coup. Here’s Why.

– politico.com/news/magazine/2021/01/11/capitol-riot-self-coup-trump-fiona-hill-457549

• White Rightwing Chickens Roost Violently at Capitol

– blackagendareport.com/white-rightwing-chickens-roost-violently-capitol

• Where will 75 million disenfranchised voters – or 88 million Twitter followers – go?

‘Ahead, there’s nothing but ruthless purge, protracted crackdown, censorship, blanket surveillance, smashing of civil liberties, a single narrative, overarching cancel (in)culture. It gets worse: next week, this paranoid apparatus merges with the awesome machinery of the United States Government’

– strategic-culture.org/news/2021/01/13/9-11-was-prelude-1-6-holy-grail

• The Capitol Catastrophe and Trump’s Hijacked White Nationalism

“They lost the allegiance and control of white workers through neglect and will not be able to reclaim this group’s loyalty.”

– blackagendareport.com/capitol-catastrophe-and-trumps-hijacked-white-nationalism

• US Battle Over the Nature and Direction of Change Itself

‘Big Tech and the MSM’s censorship and accompanying humiliation of Trump may turn him a martyr, and make the spirit of defiance all the stronger.’

– strategic-culture.org/news/2021/01/11/america-battle-over-nature-and-direction-of-change-itself/

• Biden Exploits His Capitol Gains

‘The establishment elite cannot stoop to exchange viewpoints with populists denounced as deplorable, racist, misogynist, white supremacist, fascist and now even “terrorist.”’

– consortiumnews.com/2021/01/11/biden-exploits-his-capitol-gains/

• Wall Street’s Felon Banks Take a Short Holiday from Financing Political Campaigns

‘Banks such as JPMorgan Chase and Citigroup and the technology groups Facebook and Microsoft were among those suspending all donations from their political action committees, or PACs.’

– wallstreetonparade.com/2021/01/wall-streets-felon-banks-take-a-short-holiday-from-financing-political-campaigns/

– ft.com/content/be344816-3fab-42e2-99ed-38309d06a435

• Corporations backing away from those who cited election fraud

– bloomberg.com/news/articles/2021-01-11/dow-marriott-lead-boardroom-backlash-on-congress-vote-objectors

• Banished and dissociated: These businesses & institutions are cutting ties with Donald Trump

– firstpost.com/world/banished-and-dissociated-these-businesses-and-institutions-are-cutting-ties-with-donald-trump-9192781.html

• Ripe for Fascism: A Post-Coup d’Trump Autopsy of US Democracy

‘The corporate/establishment news media oft analyzed Donald Trump’s presidency in an historical vacuum, ignoring the decades-long, bipartisan embrace of neoliberalism that helped bring about his successful candidacy while focusing sensationally on his cult of reality TV personality’

– counterpunch.org/2021/01/14/ripe-for-fascism-a-post-coup-dtrump-autopsy-of-american-democracy

• The Suppression Of Trump Voters Will Not Create Long Term Stability

– moonofalabama.org/

________________________________________________________________

C2. Security (the state beyond ‘a pair of handcuffs’, monopolies of legitimate violence)

ee Security section focuses on the state (a pair of handcuffs, which sposedly has the monopoly of legitimate violence), and how the ‘national security’ doctrine is undermined by private interests, with no interest in divulging or fighting the real enemy, whose chief aim is to prevent an industrial renaissance as the basis of a truly independent nation.

• Sri Lanka Customs busts vehicle import racket under diplomatic cover

‘The vehicles, which had been shipped from Singapore labeled ‘generator parts’ and were consigned to an officer in a High Commissioned in Colombo, customs said. The embassy had denied that they imported the vehicles’

– economynext.com/sri-lanka-customs-busts-vehicle-import-racket-under-diplomatic-cover-77763/

– sundaytimes.lk/article/1132041/illegally-imported-rs-55-million-worth-vehicles-caught

– island.lk/customs-stumbles-on-122-illegally-imported-vehicles-declared-as-generator-parts/

• Proposed Amendment to Antiquities Ordinance – a boost to destruction of antiquities

‘It is no secret that the Police have heavily contributed to the congestion in prisons by producing in Courts many drug addicts as drug traffickers, abusing the law and thus preventing them from being released on bail by the Magistrates.’

– island.lk/proposed-amendment-to-antiquities-ordinance-a-boost-to-destruction-of-antiquities/

• I’m ready to enact the role of either president or former defence secretary – President Rajapaksa

– lankaweb.com/news/items/2021/01/09/im-ready-to-enact-the-role-of-either-president-or-former-defence-secretary-president-rajapaksa/

• BASL unaware of recruiting lawyers to police service

– newsfirst.lk/2021/01/14/basl-unaware-of-recruiting-lawyers-to-police-service/

• Cabinet nod to amend Protection of Victims of Crime and Witnesses Act

– dailymirror.lk/breaking_news/Cabinet-nod-to-amend-Protection-of-Victims-of-Crime-and-Witnesses-Act/108-203617

• A Profession at Peril – The Police at a Crossroad

 ‘The inheritance from the colonial days was for a police force, detached from the common man….The politicization of the police force is clearly evident since 1977. Politicians at ministerial level and above, and even at provincial and district levels, have intervened with police transfers and promotions.’

– island.lk/perils-of-a-profession-jolts-scandal-ridden-police/

– island.lk/a-profession-at-peril-the-police-at-a-crossroad/

– island.lk/retired-sdig-calls-for-reforms-in-trouble-torn-service/

• Lawyers body questions contempt of court laws

– newsfirst.lk/2021/01/15/lawyers-body-questions-contempt-of-court-laws/

• Senior Additional Solicitor General retires

‘During the latter part of the yahapalana administration, Jayamanne functioned as the Director General of CIABOC’

– island.lk/senior-additional-solicitor-general-retires/

• Special state pardon for inmates jailed over unpaid fines

– lankaweb.com/news/items/2021/01/09/special-state-pardon-for-inmates-jailed-over-unpaid-fines/

• Deaths in police custody: Dearth in law and order

– sundaytimes.lk/210110/sunday-times-2/deaths-in-police-custody-dearth-in-law-and-order-427667.html

• He didn’t listen to me” – S. B. Dissanayake comments on Ranjan’s verdict…

‘Ranjan Ramanayake on August 17, 2017 was alleged to have stated that the majority of judges and lawyers in the country were corrupt.’

– dailymirror.lk/news-features/He-didnt-listen-to-me-S-B-Dissanayake-comments-on-Ranjans-verdict/131-203646

• EU provides Rs. 8.26 billion in grants to Sri Lanka’s Justice Sector…

‘standards required to access major EU markets will be promoted through the National Organic Control Union and the Export Development Board.’

– dailymirror.lk/breaking_news/EU-provides-Rs-8-26-billion-in-grants-to-Sri-Lanka/108-203695

• Eastern Province Governor appoints expert committee to study injustices

– island.lk/ep-governor-appoints-expert-committee-to-study-injustices/

• Covid-19: Hotels used for quarantine targeted by extortionists -Army Chief

– island.lk/covid-19-hotels-used-for-quarantine-targeted-by-extortionists-army-chief/

– economynext.com/army-chief-wants-corruption-out-of-the-quarantine-process-77786/

• Ananda Kularatne, Sri Lankan who volunteered for RAF service in WW II (1921-1944)

– ft.lk/news/Ananda-Kularatne-Sri-Lankan-who-volunteered-for-RAF-service-in-WW-II-1921-1944/56-711695

• Is COVID-19 vaccine a potential biological weapon in reverse?

– sundaytimes.lk/210110/sunday-times-2/is-covid-19-vaccine-a-potential-biological-weapon-in-reverse-427670.html

• 10 countries want Indian BrahMos supersonic cruise missiles, and Akash SAM missile systems

‘India continues to be the second-largest buyer of foreign weapons in the world after Saudi Arabia, accounting for 9.2% of the total global arms imports during 2015-2019. India exports smaller weapons, components and ammunition. In 2018-2019, its arms exports crossed the one-billion-dollar mark’

– island.lk/10-countries-want-to-buy-indian-brahmos-supersonic-cruise-missiles-and-akash-sam-missile-systems/

• US Promised Iraqis Justice, Trump’s Pardons Took it Away!

‘Trump’s pardon of four former Blackwater contractors has sparked outrage in Iraq…’

– island.lk/us-promised-iraqis-justice-trumps-pardons-took-it-away/

• Guardian Smears Syria’s President With Implausible Link To Beirut’s Port Blast

‘The original explanation of a bureaucratic tussle and pure neglect are still the most plausible cause.

But that does not stop the British Guardian from trying to blame the Syrian government for the incident’

– moonofalabama.org/2021/01/guardian-smears-syrias-president-with-implausible-link-to-beiruts-port-blast.html

• These Black Capitol Police Officers Describe Fighting Off “Racist-Ass Terrorists”

‘“I got called a nigger 15 times today,” the veteran officer shouted in the Rotunda to no one in particular. “Trump did this and we got all of these fucking people in our department that voted for him. How the fuck can you support him?”

– buzzfeednews.com/article/emmanuelfelton/black-capitol-police-racism-mob

• Questions mount over law enforcement’s failure to protect the Capitol.

– nytimes.com/2021/01/07/us/politics/questions-mount-over-law-enforcements-failure-to-protect-the-capitol.html

• Capitol Stormed by Protestors! Trump’s Twitter Suspended!

– youtube.com/watch?v=suo7bZiDZU8

• Pentagon Authorizes 25,000 National Guardsmen for Joe Biden Inauguration

– breitbart.com/law-and-order/2021/01/15/pentagon-authorizes-25000-national-guardsmen-joe-biden-inauguration/

_____________________________________________________________

C3. Economists (Study the Economists before you study the Economics)

ee Economists shows how paid capitalist/academic ‘professionals’ confuse (misdefinitions, etc) and divert (with false indices, etc) from the steps needed to achieve an industrial country.

• Banks, Fitch Ratings, NPLs & Impairments! Parts 1&2

‘Published accounts do not always reflect the true position at a glance. A much more careful and incisive approach is needed to understand the underlying controversial factors’

– ft.lk/columns/Banks-Fitch-Ratings-NPLs-and-impairments/4-711510

– ft.lk/columns/Banks-Fitch-Ratings-NPLs-and-impairments-Part-2/4-711647

• Co-operative Business Model: An alternative to current economic landscape

‘Most of the Government food rations and services were distributed through Co-operatives and to become a Manager in a local Co-operative was a luxurious position at that time while corruption in the Co-operatives was also widely publicised… Co-operative economy comprises over 10% of the Gross Domestic Product in four countries in the world (New Zealand (20%), Netherlands (18%), France (18%) and Finland (14%)’

– ft.lk/columns/Co-operative-Business-Model-An-alternative-to-current-economic-landscape/4-711654

• SL moves up by 34 positions in new Planetary Pressures-Adjusted Human Development Index

‘Speaking at the event were Robert Juhkam, Resident Representative of UNDP, Hanaa Singer-Hamdy, UN Resident Coordinator, Sarah Hulton, British High Commissioner, moderated by Raashid Riza, Policy and Engagement Analyst, UNDP, panel comprised Savera Weerasinghe, Founder, Ananta Sustainables; Dr. Ravi Fernando, Chairman/CEO, Global Strategic Corporate Sustainability; Thorsten Bargfrede, Deputy Head of Mission, Delegation of the European Union to Sri Lanka and the Maldives; and Hemantha Withanage, Executive Director/ Senior Environmental Scientist, Centre for Environmental Justice. Furthermore, Ms. Shabiya Ali Ahlam, Senior Journalist – National English Daily; Ms. Kanchana Weerakoon, Founder/President, Eco-Friendly Volunteers; and Dr. Ganeshamoorthy Murugesu, Senior Lecturer – Department of Economics, University of Colombo’

– island.lk/sl-moves-up-by-34-positions-in-new-planetary-pressures-adjusted-human-development-index/

• Failed Trump coup: Strong institutional setup saved USA (and democracy too) – Wijewardene

‘Trump’s attempt at seizing power illegally was thwarted by the strong institutional setup within the US system. That would not have happened in a country like Sri Lanka… The greatest hero in this instance was Mike Pence, the Vice President under Trump Administration’

– ft.lk/columns/A-Child-s-Guide-to-failed-Trump-coup-Strong-institutional-setup-saved-USA-and-democracy-too/4-711441

• Sri Lanka Modern Monetary Theory experiment could be an untamed demon– Wijewardene

‘MMT is suggested not by practical central bankers but by academics who have no experience in money and central banking. It is only those who have grown up within a central bank system would know exactly what money can do and what money cannot do. Money has no real existence like, say rice or coconuts. It is only a vague notion in our heads. ‘

– economynext.com/sri-lanka-modern-monetary-theory-experiment-could-be-an-untamed-demon-economist-77719/

• First the rich, then the poor – Reductio Ad Abeyratnum

– sundaytimes.lk/210110/business-times/first-the-rich-then-the-poor-427284.html

• import content of exports is around 65% of export manufactures – Sanderatne

‘Containing COVID a pre-condition for economic revival’

– sundaytimes.lk/210110/columns/containing-covid-a-pre-condition-for-economic-revival-in-2021-427647.html

• The History of Modern Chinese Banking Part 1- The beginning

‘The establishment of Rishengchang Piaohao in Shanxi started an important chapter in the history of Chinese modern banking. This 5 part documentary tells the story of the brilliant Shanxi businessmen who laid down the foundation for China’s modern banking system.’

– youtube.com/watch?v=NJ4YER9qS5c

• American Economics Association 2021: Part Two – The Radical Answers

– thenextrecession.wordpress.com/2021/01/08/assa-2021-part-two-the-radical-answers/

• The Economics of Modern Imperialism

‘Direct political control through colonies has mostly disappeared (although not completely); so imperialism operates mainly through economic control now (while throwing in the occasional coup or proxy war).’

– thenextrecession.wordpress.com/2019/11/14/hm2-the-economics-of-modern-imperialism/

• Let the great transition begin

‘Through our own work with 17 Rooms, a global community of experts collaborating to identify practical next steps for each SDG, we have identified four “transitions” to help guide us….Zia Khan is Senior Vice President for Innovation at The Rockefeller Foundation. John W. McArthur is Senior Fellow and Director of the Center for Sustainable Development at the Brookings Institution.

– sundaytimes.lk/210110/sunday-times-2/let-the-great-transition-begin-427644.html

• William Janeway: Government’s Role in R&D and in Addressing Climate Change

Government has always played a role in generating technological innovation. This role has been diminished in recent years. This lack of attention will cause problems for the US in the near future’

– ineteconomics.org/perspectives/podcasts/william-janeway-governments-role-in-r-d-and-in-addressing-climate-change

____________________________________________

C4. Economy (Usually reported in monetary terms)

ee Economy section shows how the economy is usually measured by false indices like GDP, etc, and in monetary terms, confusing money and capital, while calling for privatization and deregulation, etc.

• IMF threatens Sri Lanka to continue fund facility

– sundaytimes.lk/210110/business-times/imf-offers-options-for-sri-lanka-to-continue-fund-facility-427280.html

• Controller issues fresh directive on imports

‘Amidst frantic efforts to save foreign exchange, the continuing restrictions have increased frustrations among importers, many of whom have either gone out of business or are struggling in their businesses’

– ft.lk/top-story/Controller-issues-fresh-directive-on-imports/26-711675

• JVP cries foul over slashing import duty

‘The Janatha Vimukthi Peramuna (JVP) has accused the government of slashing import taxes to favour a private entity that imported sugar and coconut oil.’

– newsfirst.lk/2021/01/14/jvp-cries-foul-over-slashing-import-duty/

• Sri Lanka to repay US$6,865mn foreign debt in 2021: Minister

– economynext.com/sri-lanka-to-repay-us6865mn-foreign-debt-in-2021-minister-77759/

• Sri Lanka pleads for debt rollover as economy falters

– ft.lk/business/Sri-Lanka-pleads-for-debt-rollover-as-economy-falters/34-711558

• Chinese mint new Rs.20 coin for Central Bank

‘Chinese coins have been found in Yapahuwa and date back to the period when Lanka paid tribute and was visited 6 times by Admiral Zheng between 1405 and 1433. 600 years later, China has minted coins for the Central Bank (CB) to celebrate its 70th anniversary.’

– sundaytimes.lk/210110/business-times/chinese-mint-new-rs-20-coin-for-central-bank-427252.html

• Sri Lanka rupee at 195.30/195.70 in one-week amid intervention

– economynext.com/sri-lanka-rupee-at-195-30-195-70-in-one-weeks-amid-intervention-77896/

• Sri Lanka stocks soar 3.9-pct, rupee slides in excess liquidity

– economynext.com/sri-lanka-stocks-soar-3-9-pct-rupee-slides-in-excess-liquidity-77890/

• Foreign Minister seeks assistance to boost FDIs from Honorary Consuls based in Colombo

– ft.lk/business/Foreign-Minister-seeks-assistance-to-boost-FDIs-from-Honorary-Consuls-based-in-Colombo/34-711557

• CB likely to stay pat at this year’s first monetary policy meeting on Monday

– dailymirror.lk/business-news/CB-likely-to-stay-pat-at-this-years-first-monetary-policy-meeting-next-week/273-203673

– island.lk/policy-rates-to-hold-steady-amidst-sweeping-measures-to-insulate-economy-first-capital/

• Sri Lanka sells Rs100bn in 3, 5, 7-year bonds

– economynext.com/sri-lanka-sells-rs100bn-in-357-year-bonds-77741/

• CBSL to issue development bonds worth USD 200 bn

‘“We can observe that at least 1040 billion would be spent on settling the interest connected to the debt,” Ranawaka noted.’

– newsfirst.lk/2021/01/13/cbsl-to-issue-development-bonds-worth-usd-200-bn/

• State Minister and Central Bank Governor explore ways to resolve microfinance crisis

– colombopage.com/archive_21A/Jan10_1610292970CH.php

• New tax laws delayed; huge revenue loss

– sundaytimes.lk/210110/news/new-tax-laws-delayed-huge-revenue-loss-427881.html

• Customs to be re-organised

‘Various allegations have been leveled against Customs over alleged fraudulent transactions in import and export trade as well as private bonded warehouse dealings by businessmen in connivance with Custom officers’

– sundaytimes.lk/210110/business-times/customs-to-be-re-organised-427297.html

• Mahapola Scholarship Trust Fund suffers staggering losses due to irregularities

‘Even though the SLIIT had been summoned before the Committee it had informed the COPE through Julius & Creasy law firm that it had not been legally bound to do so. Thus, the COPE decided that law firm Julius & Creasy should be summoned to resolve the matter.’

– island.lk/mahapola-scholarship-trust-fund-suffers-staggering-losses-due-to-irregularities/

– economynext.com/mahapola-fund-has-lost-over-lkr600-million-cope-77765/

– sundaytimes.lk/article/1132088/mahapola-lost-rs-673-million-from-online-lottery

Sunday Times Error – Currency swap with China and India: US$ 2.5 billion not $3.5…

– sundaytimes.lk/210110/news/currency-swap-with-china-and-india-us-2-5-billion-427865.html

• Sri Lanka central bank swaps surge, forward premiums negative in MMT

– economynext.com/sri-lanka-central-bank-swaps-surge-forward-premiums-negative-in-mmt-77743/

• Sri Lanka central bank forex interventions turn negative in November

‘Sri Lanka however has over 200 billion rupees (about 20 percent of the monetary base) of excess liquidity.’

– economynext.com/sri-lanka-central-bank-forex-interventions-turn-negative-in-november-77722/

• Sri Lanka’s trade deficit narrows in November

‘Imports of investment goods declined by 18.1% in November 2020, compared to November 2019, with reductions in all three main categories, namely, machinery and equipment, building material and transport equipment, with many subcategories within them recording declines, which was partly due to import restrictions. ‘

– bizenglish.adaderana.lk/sri-lankas-trade-deficit-narrows-in-november/

– island.lk/deficit-in-trade-account-narrowed-in-november-2020/

– ft.lk/top-story/SL-trade-deficit-shrinks-1-8-b-CB/26-711711

• The country is economically stable – Ministry of Finance

– colombopage.com/archive_21A/Jan12_1610471402CH.php

• Selling rate of US $ exceeds Rs.196 mark

– bizenglish.adaderana.lk/selling-rate-of-us-exceeds-rs-196-mark/

• Govt. two-faced on debt: Harsha

‘Questions why Govt. raising $ 200 m through local advertisements if macro fundamentals solid and ratings downgrades have had no impact…  Questions reasoning behind Gammanpila asking for debt rollover if Cabraal’s positive statements are true…Warns record-breaking stock market performance requires vigilance’

– ft.lk/top-story/Govt-two-faced-on-debt-Harsha/26-711623

• Sri Lanka Telecom, Electricity Board ratings lowered by Fitch after sovereign downgrade

– economynext.com/sri-lanka-telecom-ceylon-electricity-board-ratings-lowered-after-sovereign-downgrade-77803/

• Sri Lanka’s Sunshine, Abans, Singer, DSI local Fitch ratings lifted after sovereign downgrade

– economynext.com/sri-lankas-sunshine-abans-singer-dsi-local-ratings-lifted-after-sovereign-downgrade-77808/

• Sri Lanka PM plans tax concessions for film industry

– economynext.com/sri-lanka-pm-plans-tax-concessions-for-film-industry-77816/

• Kerala Budget 2021-22: Big Thrust on Job Creation and Social Welfare

– newsclick.in/kerala-budget-2021-22-big-thrust-job-creation-social-welfare

• Staggering growth of super-rich in China – International Trotskyists

– wsws.org/en/articles/2021/01/13/rich-j13.html

• Ongoing Series on the US Federal Reserve’s 2019-2021 Bailout of Wall Street

– wallstreetonparade.com/9426-2/

• After Mnuchin Demanded Fed Chair Powell Return Hundreds of Billions from Its Emergency Lending Facilities, Fed Sends Back Just $41.3 Billion
– wallstreetonparade.com/2021/01/after-mnuchin-demanded-that-fed-chair-powell-return-hundreds-of-billions-from-its-emergency-lending-facilities-fed-sends-back-just-41-3-billion/

_________________________________________________________________________

C5. Workers (Inadequate Stats, Wasteful Transport, Unmodern Plantations, Services)

ee Workers attempts to correct the massive gaps and disinformation about workers, urban and rural and their representatives (trade unions, etc), and to highlight the need for organized worker power

• Regional Plantation Companies Threaten Trade Unions

– bizenglish.adaderana.lk/rpcs-lay-out-final-proposal-to-remunerate-workers-rs-1105-per-day/

– newsfirst.lk/2021/01/15/proposal-to-remove-limits-on-estate-worker-earnings/

– sundaytimes.lk/article/1132398/rpcs-present-final-proposal-on-worker-wages-at-rs-1105-per-day

• Minimum Wage will be Imposed for Estate Workers

– newsfirst.lk/2021/01/16/minimum-wage-will-be-imposed-for-estate-workers/

• Fixed daily wage of Rs 1,105 thrice a week for estate workers

‘The Planters’ Association of Ceylon notes that this proposal would be the first step to modernizing the entire industry and moving beyond a basic daily wage system which they describe as a relic of the colonial era. The release also notes that without improvements in productivity it would be extremely difficult for any RPC to remain financially sustainable.

https://ceylontoday.lk/news/fixed-daily-wage-of-rs1105-thrice-a-week-for-estate-workers

 • Sri Lanka extends Covid-19 wage cut till March 2021

‘Cabinet has allowed Coronavirus hit firms to pay lower salaries till March 2021, provided workers are kept in employment’

– economynext.com/sri-lanka-extends-covid-19-wage-cut-till-march-2021-77775/

• Cabinet gives nod to raise employee termination compensation to Rs. 2.5 m

‘EFC and FTZ manufacturers say move regressive and will impact job creation’

– ft.lk/top-story/Cabinet-gives-nod-to-raise-employee-termination-compensation-to-Rs-2-5-m/26-711537

• Pro-rate wages to continue until March

‘Cabinet extends tripartite agreement to give private sector employees 50% of salary or Rs. 14,500’

– ft.lk/front-page/Pro-rate-wages-to-continue-until-March/44-711538

• Govt. to amend Industrial Dispute Act

‘Special Provision to be adapted to allow Labour Tribunals to hear EPF non-payment complaints’

 – ft.lk/front-page/Govt-to-amend-Industrial-Dispute-Act/44-711471

• Labour Dept. launches Phase 2 of e-survey on businesses affected by COVID-19

– sundaytimes.lk/article/1132373/labour-dept-launches-phase-2-of-e-survey-on-businesses-affected-by-covid-19

• We will create an education system that protects dignity of labour – President

 – adaderana.lk/news/70805/we-will-create-an-education-system-that-protects-dignity-of-labour-president

• Globally, Sri Lanka has the earliest retirement age at 55 years (in the private sector)

– sundaytimes.lk/210110/business-times/retiring-at-55-or-60-427290.html

• Seafarer Manning Industry eyeing to bring US$ 1 billion in forex earnings

‘There are only 16,000 active seafarers in the country now’

– island.lk/seafarer-manning-industry-eyeing-to-bring-us-1-billion-in-forex-earnings/

• Remittances rise 18.7% in Nov.

– ft.lk/front-page/543-m-outflow-from-securities-market-Jan-Nov/44-711721

• 69,000 Sri Lankans in 137 countries still hoping to be repatriated

‘This includes 41,452 registered migrant workers in 15 countries,

– sundaytimes.lk/210110/columns/covid-and-nothing-but-covid-opposition-slams-govt-for-mishandling-the-pandemic-427827.html

• JVP flays govt. for bringing Ukrainian tourists without repatriating Lankan migrant workers

– island.lk/jvp-flays-govt-for-bringing-ukrainian-tourists-without-repatriating-lankan-migrant-workers/

• Sri Lanka Femtech advances by MAS wins global recognition

‘The awards are given by Clarivate, a former intellectual property and science division of Thomson Reuters, a media and data group.’

– economynext.com/sri-lanka-femtech-advances-by-mas-wins-global-recognition-77708/

• The Obama-fication of “The Squad” Strengthens the Right at the Expense of the Left

‘“Black Americans had grown more economically optimistic and pro-U.S. intervention than ever before by the end of Obama’s first presidential term.”’

– blackagendareport.com/obama-fication-squad-strengthens-right-expense-left

_________________________________________________________________________

C6. Agriculture (Robbery of rural home market; Machines, if used, mainly imported)

ee Agriculture emphasizes the failure to industrialize on an agriculture that keeps the cultivator impoverished under moneylender and merchant, and the need to protect the rural home market. Also, importation of agricultural machinery, lack of rural monetization and commercialization, etc.

• The many faces of betel leaf

‘Betel is today one of our major exports, Pakistan being the largest importer. Middle East, Canada, USA, Japan, UK, Australia, Norway and Germany are among the other leading importers. The other major betel growing countries are India, Thailand and Bangladesh….

– island.lk/the-many-faces-of-betel-leaf/

• Restoration of 500 old tanks to be entrusted to state entities

– island.lk/restoration-of-500-old-tanks-to-be-entrusted-to-state-entities/

• Sri Lanka selling state lands to foreigners through backdoor: Harsha

‘Two companies had been set up called Selendiva Investments Ltd and Sahasya Investments under the Companies Act.Selendiva will consolidate the government’s high-end real estate assets, especially hotels such as Grand Hyatt, Grand Oriental Hotel, Hotel Developers, and prime land belonging to the Cey-Nor Foundation adjacent to the Lotus Tower’

– economynext.com/sri-lanka-selling-state-lands-to-foreigners-through-backdoor-harsha-77802/

• Multinational, local firms get forest land for agri-projects

‘The government is planning to hand over thousands of acres of forest lands to five multinational companies after abolishing the circular no. 5/2001 limiting arbitrary allocation of ‘other’ (unreserved) forest lands… A Land Data Infrastructure (LDI) and Land Information Service System (LISS) in Sri Lanka will be established through a South Korean grant of US$60.33 million under a technical assistance programme’

– sundaytimes.lk/210110/business-times/multinational-local-firms-get-forest-land-for-agri-projects-427303.html

• Govt. allocates Rs. 700 m to 2,000 families to grow fruits for export

‘Rs. 500,000 per family in Nawalapitiya, Gampola, Udunuwara and Hewaheta electorates in Kandy District through the Innovation Project implemented with the World Bank…Representatives of the Dole Company who met the Minister of Agriculture Mahindananda Aluthgamage at the Ministry of Agriculture agreed to create a foreign market for the produce of these farmers’

– ft.lk/front-page/Govt-allocates-Rs-700-m-to-2-000-families-to-grow-fruits-for-export/44-710125

• The “sugar scam” explained

– newsfirst.lk/2021/01/13/the-sugar-scam-explained/

• Agrarian Service officer gets 10 year jail term for bribery

– sundaytimes.lk/article/1132396/agrarian-service-officer-gets-10-year-jail-term-for-bribery

• Akuressa MPCS: SLPP bid to oust Rajapaksa backed by JVP fails

‘Rajapaksa was appointed the Chairman of the MPCS in 2005 on an initiative taken by the JVP while the cooperative society was on the brink of bankruptcy. He turned it around. Today, the Akuressa MPCS has assets in excess of Rs. 3000 million including investments in retail outlets, a restaurant, a tea estate, and public transport.’

– island.lk/akuressa-mpcs-slpp-bid-to-oust-rajapaksa-backed-by-jvp-fails/

• New Govt. changed political culture of forgetting village after winning power: President

“I will not entertain lumpen politics as the Opposition does…. “People living in villages see the problems faced by them from one angle. The way officials look at the issue is different from that. The opinion of people living in Colombo is even more contradictory.”

– ft.lk/front-page/New-Govt-changed-political-culture-of-forgetting-village-after-winning-power-President/44-711474

• Sri Lanka 2021 main season rice expected at 2.8mn tonnes: Minister

‘But Sri Lanka rice is almost non-tradable.’

– economynext.com/sri-lanka-2021-main-season-rice-expected-at-2-8mn-tonnes-minister-77773/

• 04th Aerial Seed Bombing Operation carried out by SLAF

– newsfirst.lk/2021/01/15/04th-aerial-seed-bombing-operation-carried-out-by-slaf/

• 250 million coconut shortage in 2021; steps to import frozen coconut kernels

– bizenglish.adaderana.lk/250-million-coconut-shortage-in-2021-steps-to-import-frozen-coconut-kernels/

– ft.lk/front-page/Cabinet-nod-for-limited-coconut-imports/44-711616

– dailymirror.lk/business-news/Govt-to-allow-coconut-kernel-imports-to-support-related-industries/273-203749

• Namal reveals alleged land grab plot

‘Large-scale land grabbing is taking place especially in the Sooriyawewa, Hambantota and Lunugamvehera Divisional areas and alleged that some officials mention the names of politicians’

– newsfirst.lk/2021/01/11/namal-reveals-alleged-land-grab-plot/

• Poor show of rubber plantations set to jeopardise entire sector

‘Manufactures forced to import over 50% of natural rubber required for their products… Rubber manufacturers have stepped up efforts by increasing value addition, but sourcing raw materials locally to feed the supply chain is becoming increasingly challenging with rubber plantations making no real effort to expand production, shared Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP).’

– dailymirror.lk/business__main/Poor-show-of-rubber-plantations-set-to-jeopardise-entire-sector/245-203674

• Nestlé facilitates first commercial silage enterprise in North-Western Province

‘I thank Nestlé for their continued support in helping to develop the local dairy industry” said Dr. BCS Perera, Provincial Director – Department of Animal Production and Health, North Western Province.’

– island.lk/nestle-facilitates-first-commercial-silage-enterprise-in-north-western-province/

• Grazing land in Batticaloa Issues

– island.lk/govt-must-offer-acts-of-healing/

• 12 Indians arrested with over 8,700kg of dried turmeric in Northwestern seas

– dailymirror.lk/breaking_news/12-Indians-arrested-with-over-8-700kg-of-dried-turmeric-in-Northwestern-seas/108-203485

• Some thoughts on how Lanka can control the Fall Army worm

‘the percentage of plants damaged by this pest in Sri Lanka during the Maha season is way beyond the Economic Threshold.’

– sundaytimes.lk/210110/sunday-times-2/some-thoughts-on-how-lanka-can-control-the-fall-army-worm-427638.html

• Disease spreads among cattle in Sri Lanka

‘The All Ceylon Farmers Federation pointed out that health authorities have not identified the origin of the virus so far.’

– newsfirst.lk/2021/01/10/disease-spreads-among-cattle-in-sri-lanka/

• Thailand to focus on investment opportunities in Plantation and Agricultural sectors in SL

– bizenglish.adaderana.lk/thailand-to-focus-on-investment-opportunities-in-plantation-and-agricultural-sectors-in-sri-lanka/

• Viet Nam-Sri Lanka cooperation focus on agriculture and fisheries sectors

– ft.lk/front-page/Viet-Nam-Sri-Lanka-cooperation-focus-on-agriculture-and-fisheries-sectors/44-711618

• Granddaughter remembers the Maha Mudaliyar Obeysekera

‘From Kankesanturai, Jaffna to Kataluwa, Galle, she owned more than 20,000 acres.’

– island.lk/grand-daughter-remembers-the-maha-mudaliyar/

• Oxygen kannada?

‘More than 82,000 acres of forest have been cleared for development projects, in this country, during the last decade’

– island.lk/oxygen-kannada-2/

• Is forest clearing really necessary for development of agriculture?

‘it is not necessary to clear forests at all because the present agricultural output would be more than enough if productivity in growing and marketing is improved two-fold. Let’s hope Peliyagoda Market will not fall a victim of the politically- controlled vegetable mafia.’

– island.lk/is-forest-clearing-really-necessary-for-development-of-agriculture/

• Fishing cats also targeted following leopard attack at Panama fearing they are dangerous

– island.lk/fishing-cats-also-targeted-by-villagers-following-leopard-attack-at-panama-fearing-they-are-dangerous/

• Cardinal leading the charge against developers intruding into Muthurajawela

‘“We cannot allow these people to come here, throw their money around, bribe officials, use their political influence and destroy this area,” he said.’

– island.lk/cardinal-leading-the-charge-against-developers-intruding-into-muthurajawela

• Trash piles up along Mahaweli River banks, as water retreats following heavy rain

– newsfirst.lk/2021/01/11/thennekumbura-garbage-pollutes-mahaweli-river/

• Tonnes of garbage removed from Mahaweli River

– island.lk/tonnes-of-garbage-removed-from-mahaweli-river/

• Illegal clearing of Attidiya Sanctuary with powerful political patronage

– dailymirror.lk/news-features/Illegal-clearing-of-Attidiya-Sanctuary-with-powerful-political-patronage/131-203715

• New invasive plant fast smothering native cultivations in Puttalam District

– island.lk/new-invasive-plant-fast-smothering-native-cultivations-in-puttalam-district/

• World Bank appoints Lankan as a Climate Ambassador

‘An Expert Member at Chatham House London, Talal worked with other industry experts from the World Bank, Goldman Sachs’

– island.lk/world-bank-appoints-lankan-as-a-climate-ambassador/

• Orca Lanka: Killer whales are here and well worth meeting

– economynext.com/orca-lanka-killer-whales-are-here-and-well-worth-meeting-they-may-be-intelligent-communicative-and-super-social-in-ways-we-can-scarcely-imagine-77898/

• ‘We Will Become Slaves’: The Economics of Small Farmers in Madhya Pradesh

 – newsclick.in/the-economics-of-small-farmers-in-MP

• For Capital, the Calamitous Farm Reforms are an Opportunity in India

‘To enact and implement land reforms, the Indian Constitution of 1949 gave the states the necessary powers, but the dominant class interests prevailed. States such as Uttar Pradesh, Kerala and Tamil Nadu, where the balance of forces were in favour of workers, took part in land reforms actively, but Punjab and Rajasthan saw only insignificant changes’

– newsclick.in/For-Capital-Calamitous-Farm-Reforms-Opportunity

_____________________________________________________________________

C7. Industry (False definitions, anti-industrial sermons, rentier/entrepreneur, etc)

ee Industry section notes the ignorance about industrialization, the buying of foreign machinery, the need to make machines that make machines, build a producer culture. False definitions of industry, entrepreneur, etc, abound.

• Sri Lanka spending only less than 0.15 % of total GDP for research and development

– ft.lk/columns/Sri-Lanka-s-professional-associations-and-research-orientation/4-711631

• Our policy has to be Import Substitution with the motto “Buy Sri Lankan”

– lankaweb.com/news/items/2021/01/12/our-policy-has-to-be-import-substitution-with-the-motto-buy-sri-lankan-to-achieve-the-vista-of-splendour-our-presidents-aim/

• Sri Lanka Chamber of Small and Medium Industries welcomes new Deregulation Commission

– ft.lk/front-page/SLCSMI-welcomes-new-Deregulation-Commission/44-711722

• Australian company has illegal plan to mine sands

‘Geological Surveys and Mines Bureau (GSMB) told local media that under Sri Lankan law, Titanium Sands couldn’t legally acquire the rights to explore Mannar by purchasing the company (Srinel Holdings Ltd) that previously held the licenses. But Dr Searles says the GSMB was “incorrect” and was responding to misleading social media posts’

– island.lk/australian-company-has-a-plan-to-mine-sands/

• Illegal Dolomite Mine Raided

– newsfirst.lk/2021/01/13/illegal-dolomite-mine-raided/

• Gold deposit size in Seruwila “exaggerated”

‘The environment secretary insisted that it is only the environment ministry that can notify the people about such discoveries.’

– newsfirst.lk/2021/01/12/gold-deposit-size-in-seruwila-exaggerated/

• ICT Industry Skills Council appoints new Board of Directors

‘Sala Enterprises’ Chinthaka Wijewickrema re-elected as Chairman, Indika de Zoysa of Huawei as Vice Chairman, Ministry of Skills Development’s Thilina Panduka and Prasad Samarasinghe as other office bearers. Re-elected Directors are Shanta Rajapaksha Yapa (Avonet Ltd.), Abbas Kamrudeen (Debug Computers), Sachith Perera (99X), Sampath Thrimavithana (Vitusa Corporation), Upendra Pieris (Orel Corporation), Alanzo Doll (BCS, Sri Lanka Section) Prabhath Samindra (CSSL), Prasad Hettiarachchi (Agaya Holdings), T. Baheerathan (DMS Software), Wasantha Weerakoon (Sanje Lanka), T. Suresh (Zillion Holding), Bani Chandrasena (SLASSCOM), Manoj Ganepola (TVEC), Samira Jayawardena (ICTA), Vilroy de Silva (NAITA), S.M. Dayaratne (Ministry of Finance), Shouqi Omar (IFS).

– ft.lk/it-telecom-tech/ICT-Industry-Skills-Council-appoints-new-Board-of-Directors/50-711532

• Federation of Information Technology Industry, ICT apex body meeting of telco leaders

‘CEO, Airtel Sri Lanka; Ashish Chandra, Group CEO, Dialog Axiata PLC; Supun Weerasinghe, Group Chief Technology Officer, Dialog Axiata; Pradeep De Almeida, Chief Executive Officer, Hutch; Thrirukumar Nadarasa, Managing Director, Lanka Bell; Dr. Prasad Samarasinghe, Group CEO, SLT/Mobitel; Lalith Seneviratne, CEO, Sri Lanka Telecom; Kithithi Perera, Vice President, Enterprise Business Group, Huawei Technologies Lanka Indika De Zoysa will moderate…’

– island.lk/telco-leaders-cluster-together-for-a-timely-discussion/

• Southeast Asia’s largest $ 250 m tyre plant opened

‘Lokuwithana, who is the Chairman of Ferentino Tyre Corporation Ltd., heads ONYX Group in the UAE, Mariott Al Jaddaf Hotel in Dubai and the up-coming state-of-the-art cement factory in Mirijjawila, Hambantota valued at $ 75 million’

– ft.lk/front-page/Southeast-Asia-s-largest-250-m-tyre-plant-to-be-opened-today/44-711613

– dailymirror.lk/breaking_news/Southeast-Asias-largest-tyre-plant-declared-open/108-203764

– bizenglish.adaderana.lk/south-asias-largest-tyre-manufacturing-plant-now-in-sri-lanka/

– island.lk/presidents-vision-encourages-investors-lokuwithana/

– ft.lk/front-page/President-commissions-South-Asia-s-largest-tyre-factory-in-Horana/44-711671

• Cabinet approves SOP for vehicle component manufacturing and assembling

‘According to the Sri Lanka Automotive Component Manufacturers Association, Sri Lankan component manufacturing has entered the global supply chain through the technical collaboration between Ideal Auto Seating and MSKH India, a joint venture of Magna Worldwide, the largest automotive component manufacturer in the world.’

– dailymirror.lk/business-news/Cabinet-approves-SOP-for-vehicle-component-manufacturing-and-assembling/273-203748

• Sri Lanka to locally produce calcite required for pill making

‘the deposit in Balangoda contains sufficient calcite to fill Sri Lanka’s requirement for 200 years.’

– colombopage.com/archive_21A/Jan11_1610384620CH.php

• COVID-19 can be controlled by indigenous medicine as China has shown

– lankaweb.com/news/items/2021/01/10/covid-19-can-be-controlled-by-indigenous-medicine-as-china-has-shown/

• Private sector companies pledge Rs. 10Bn to help govt. buy Covid-19 vaccinations

‘Taking the lead in the endeavor is Brandix Lanka Limited, where a coronavirus cluster erupted at its Minuwangoda apparel factory last year.’

– island.lk/private-sector-companies-pledge-rs-10bn-to-help-govt-buy-covid-19-vaccinations/

• Covid-19 Vaccine will be Brought with NMRA Approval

– newsfirst.lk/2021/01/12/covid-19-vaccine-will-be-brought-with-nmra-approval/

• President denies halt to Rs. 15bn pipeline project

– island.lk/minister-has-sought-project-proposal-with-an-engineers-estimate-from-cpstl-presidential-secretariat/

• Pilot project in Galle to transmit electricity through underground cables

‘99.6% of the people in the Galle District had been provided with electricity. There were only 2,730 families without electricity. “We are ready to supply electricity to that group before the end of 2022.”’

– island.lk/pilot-project-in-galle-to-transmit-electricity-through-underground-cables/

• Importing of liquefied natural gas – Past efforts and future prospects

‘There is lack of clarity as to who should import LNG and distribute the gas’

– island.lk/importing-of-liquefied-natural-gas-past-efforts-and-future-prospects

• Cheaper and faster options available: Importing Liquefied Natural Gas – II

– island.lk/cheaper-and-faster-options-available/

• SL consumers unlikely to see benefits of going green sans independent Energy regulation

– island.lk/eminent-scientist-says-sl-consumers-unlikely-to-see-benefits-of-going-green-sans-independent-regulation/

• The Totally Green Potential of Bio Energy for Sri Lanka

– island.lk/the-totally-green-potential-of-bio-energy-for-sri-lanka/

• Waste-fired power plants draw fire for turning one form of pollution into others

– island.lk/waste-fired-power-plants-draw-fire-for-turning-one-form-of-pollution-into-others/

• Wes Edens, Founder of New Fortress Energy met with Prime Minister Mahinda Rajapaksa.

– lankaweb.com/news/items/2021/01/12/mr-wes-edens-founder-of-new-fortress-energy-met-with-prime-minister-mahinda-rajapaksa/

• International seaports: A network of international partners

‘Shipping is mainly controlled by massive global ship operators and owners who have pumped in billions of dollars for ship hardware… major economies and developed countries control well over 80% of the world’s container cargo throughput… ten major shipping lines work in three major alliances in partnership combining synergies to provide shipping services… global average for state participation/ownership is around 20%, whereas, international terminal operators, shipping companies and other private equities amount to nearly 80% of ports and terminal equities…. India has the biggest cargo volume output. But it is not India that decides how the shipping routes and port calls are designed. Nor does Sri Lanka. The ship owners take that call…. Colombo being the biggest transshipment volume handler in the world, accounts for less than 20% of Indian subcontinent throughput.’

– ft.lk/columns/International-seaports-A-network-of-international-partners/4-711450

• Cabinet Approves Purchase of 200 Low-Floor Buses

– newsfirst.lk/2021/01/12/cabinet-approves-purchase-of-low-floor-buses/

• Ceylon Institute of Builders welcomes Govt. move to pay arrears to construction contractors

– ft.lk/business/CIOB-welcomes-Govt-move-to-pay-arrears-to-construction-contractors/34-711560

• LanwaSanstha to commission US $ 75mn cement plant this May

‘Commissioning delayed by 2 months due to COVID-19… LanwaSanstha is projected to account for 20.3 percent of the country’s cement output by next year, just behind the projected market shares of Tokyo Cement (29 percent) and INSEE Cement (26.4 percent).’

– dailymirror.lk/business__main/LanwaSanstha-to-commission-US-75mn-cement-plant-this-May/245-203605

• 23 million bricks needed to reconstruct Deegawapiya Stupa

– island.lk/23-million-bricks-needed-to-reconstruct-deegawapiya-stupa/

• Maiden investor of Eravur fabric park to ink agreement with BOI shortly

‘In particular, increased Chinese investor interest is expected, once the first investor comes onboard.’

– dailymirror.lk/business-news/Maiden-investor-of-Eravur-fabric-park-to-ink-agreement-with-BOI-shortly/273-203603

• Twinery, Innovations by MAS recognised as one of region’s most influential innovators

– island.lk/twinery-innovations-by-mas-recognised-as-one-of-regions-most-influential-innovators/

• Ocean Lanka achieves ISO 45001 for OHS Management Systems

– island.lk/ocean-lanka-achieves-iso-45001-for-ohs-management-systems/

• Laxapana more than trebles profit in the face of daunting challenges

‘Incorporated in 1956 as Elephant Lite Corporation Ltd., the company was the pioneer local manufacturer of dry cell torch and transistor batteries and continued this line of manufacture until its closure in 2012 due to the rapid drop in demand for D size batteries both locally and globally….E.B. Creasy and Co. own over 51% of Laxapana. Company chairman, SDR Arudpragasam and related Colombo Fort Land and Building group are among the top 20 shareholders. The directors are: Messrs SDR Arudpragasam (chairman), RN Bopearatchy, S. Rajaratnam, RCA Welikala, PMA Sirimane, AR Rasiah, SNP Palihena, AM Mubarak and SW Gunawardena.’

– island.lk/laxapana-more-than-trebles-profit-in-the-face-of-daunting-challenges/

• The supernatural, superstition, stupidity and science

– island.lk/the-supernatural-superstition-stupidity-and-science/

• Good news from Cuban science

‘Cuba has developed the production of swabs for sample taking, a transport medium for collection and transfer of samples, and now this diagnostic based on magnetic extraction of virus RNA using nanotechnology.’

– en.granma.cu/cuba/2021-01-14/good-news-from-cuban-science

• How USA Bankrupted its Cities – The Growth Ponzi Scheme

‘US car-dependant cities are financially insolvent, and function like a Ponzi scheme. This is the reason most US cities are bankrupt.’

https://www.youtube.com/watch?v=7IsMeKl-Sv0

______________________________________________________________________

C8. Finance (Making money from money, banks, lack of investment in modernity)

ee Finance tracks the effects of financialization, the curious role of ratings agencies, false indices, etc.

• Sri Lanka eyes artificial intelligence for bank regulation: CB Governor

– economynext.com/sri-lanka-eyes-artificial-intelligence-for-bank-regulation-cb-governor-77897/

• Cash, jewellery worth millions stolen from private financial institution

– adaderana.lk/news/70802/cash-jewellery-worth-millions-stolen-from-private-financial-institution

• Shell companies in the CSE in demand

‘some industry analysts are weary [sic!] of shell companies.’

– sundaytimes.lk/210110/business-times/shell-companies-in-the-cse-in-demand-427306.html

• Bull run at CSE continues at near 65-month high

– ft.lk/front-page/Bull-run-at-CSE-continues-at-near-65-month-high/44-711543

• Minister Cabraal rides on Bloomberg kudos on CSE

– ft.lk/front-page/Minister-Cabraal-rides-on-Bloomberg-kudos-on-CSE/44-711673

• IFC approves US$7mn loan for Sunshine Holdings

‘to support the acquisition of confectionery manufacturing company Daintee and for the expansion of its roof top solar projects….Accordingly, Watawala Ceylon Tea Company, a sub-subsidiary of Sunshine Holdings PLC is expected to secure US$ 5 million loan from IFC to acquire Daintee’

– island.lk/ifc-approves-us7mn-loan-for-sunshine-holdings/

• IFC’s $25mn investment in Nations Trust Bank to help SL businesses continue operations, preserve jobs amid COVID-19

‘In IFC’s 50 years of operations in Sri Lanka, NTB has been one of IFC’s longstanding clients. As a founding shareholder, IFC has supported the bank… This is IFC’s second investment in Sri Lanka through its global $8 billion fast-track COVID-19 facility. In June 2020, IFC provided a $50 million loan to Commercial Bank of Ceylon to expand lending to SMEs affected by COVID-19, with over a third dedicated to women-owned businesses. Last year, IFC also invested $175 million in John Keells Holdings (JKH), of which NTB is a subsidiary.’

– bizenglish.adaderana.lk/ifcs-25mn-investment-in-nations-trust-bank-to-help-sl-businesses-continue-operations-preserve-jobs-amid-covid-19/

– economynext.com/ifc-gives-sri-lankas-nations-trust-bank-us25mn-for-covid-19-loans-77753/

• ComBank leading provider of COVID-19-linked concessionary loans among private banks

‘Bank also completed a private equity placement with IFC in 2020, launched CBC Finance Ltd., its fully owned Licensed Non-bank Finance Institution (NBFI)..The Bank increased its stake in Commercial Insurance Brokers, and its subsidiary CBC Myanmar Microfinance Ltd. expanded its operations by opening a branch in Pyinmana…Commercial Bank donated Rs 10 million to the National COVID-19 Healthcare and Social Security Fund and joined forces with the Sri Lankan Army’s ‘Thuru Mithuru’ project focused on driving Sri Lanka towards self-sufficiency in essential food… Commercial Bank operates a network of 268 branches in Sri Lanka. The Bank’s overseas operations encompass Bangladesh with 19 outlets; a Myanmar Microfinance company in Nay Pyi Taw; and the Maldives…’

– bizenglish.adaderana.lk/combank-ends-centenary-year-with-notable-achievements-in-economic-contribution-and-pandemic-relief/

– island.lk/combank-sees-need-to-play-a-far-more-urgent-and-vital-role-against-impacts-of-c19

• LOLC Group restructuring viewed as a global strategy to attract investors

‘44.8% stakes belonging to LOLC Finance, 98.9% belonging to Commercial Leasings and 55.6% of Lanka LOLC Development Finance transferred to new LOLC Ceylon.’

– island.lk/lolc-group-restructuring-viewed-as-a-global-strategy-to-attract-investors/

– bizenglish.adaderana.lk/lolc-designates-lolc-ceylon-holdings-to-attract-large-foreign-investors-to-its-finance-companies/

– ft.lk/front-page/LOLC-to-consolidate-finance-companies-float-holding-company/44-711540

• Institutions face penalties for non-compliances with provisions of FTRA

– island.lk/institutions-face-penalties-for-non-compliances-with-provisions-of-ftra/

• Central Bank’s Financial Intelligence Unit imposes penalties on three finance companies

‘Richard Pieris Finance, Softlogic Finance, Siyapatha Finance…’

– bizenglish.adaderana.lk/central-banks-financial-intelligence-unit-imposes-penalties-on-three-finance-companies/

• Softlogic Finance clarifies punitive action by Central Bank

‘due to a shortcoming in the core operating system of the company in relation to screening the United Nations Sanctions List’

– colombopage.com/archive_21A/Jan13_1610518012CH.php

• Siyapatha Finance rectifies violations resulted in FIU penalties

– colombopage.com/archive_21A/Jan12_1610466949CH.php

• Sri Lanka’s ETI Finance directors ordered to be brought before court: AG

– economynext.com/sri-lankas-eti-finance-directors-ordered-to-be-brought-before-court-ag-77707/

– dailymirror.lk/business-news/ETI-Finance-Limited-to-be-wound-up/273-203672

– bizenglish.adaderana.lk/cb-to-wind-up-eti-finance-through-legal-procedures/

– bizenglish.adaderana.lk/swarnamahal-financial-services-resumption-of-business-for-a-limited-purpose-on-a-conditional-basis/

– economynext.com/swarnamahal-financial-services-depositors-to-get-another-payment-sri-lanka-central-bank-77774/

• HNB Assurance PLC Group surpasses Rs.10 billion GWP mark

– bizenglish.adaderana.lk/hnb-assurance-plc-group-surpasses-rs-10-billion-gwp-mark/

• Many people involved in the negotiations seemed to consider HNB a “Tamil Bank”

– island.lk/a-golden-opportunity-missed-due-to-communal-mindsets/

• Long-standing Japanese investors exit Asia Capital in Rs.160mn deal

‘Malaysia-based QI Group Chairman Vijay Eswaran owns 72 percent of Asia Capital…. Buy out ends alleged rift between Japanese investors and the Company which senior management has denied’

– dailymirror.lk/business-news/Long-standing-Japanese-investors-exit-Asia-Capital-in-Rs-160mn-deal/273-203604

– ft.lk/front-page/Vijayeswaran-buys-out-Japanese-investors-in-Asia-Capital-for-Rs-160-m/44-711520

• LOLC – Colombo University Alumni Partnership

– island.lk/lolc-colombo-university-alumni-partnership/

• HSBC voted “Market Leader in Cash Management – Sri Lanka” in Euromoney Cash Management Survey 2020

‘Stuart Rogers, Head of Wholesale Banking, HSBC Sri Lanka and Maldives commented, “This is fantastic news…’

– bizenglish.adaderana.lk/hsbc-voted-market-leader-in-cash-management-sri-lanka-in-euromoney-cash-management-survey-2020/

• The Stock Market Is Broken as a Bellwether; Here’s How to Fix It

‘The pint-sized Carmen Segarra had the guts to sneak a tiny tape recorder into the New York Fed to blow the whistle on the crony relationship between the Federal Reserve Bank of New York and Goldman Sachs. Segarra was an attorney and bank examiner at the New York Fed but when she attempted to write a negative report on Goldman Sachs, she was fired’

– wallstreetonparade.com/2021/01/the-stock-market-is-broken-as-a-bellwether-heres-how-to-fix-it/

___________________________________________________________________________________

C9. Business (Rentierism: money via imports, real-estate, tourism, insurance, fear, privatization)

ee Business aka ee Rentier focuses on diversions of the oligarchy, making money from unproductive land sales, tourism, insurance, advertising, etc. – the charade of press releases disguised as ‘news’

• Peppercube to start Retail Store Audit

‘Buys retail census and exclusive rights from Nielsen… Every month we have been tracking over 35,000 retail outlets across the country for many clients with our Pepper-eX service for the last 10 years….PepperCube will engage Dwight Watson, a British consultant, MD of Nielsen Sri Lanka before moving on to South Africa, America and Switzerland…“We estimate the retail outlet population to be over 270,000 across the island.”’

– ft.lk/front-page/Peppercube-to-start-Retail-Store-Audit/44-711546

• EPF partly sheds Hayleys stake

‘EPF is now the 4th largest shareholder pushing up Finco Holdings, to number 3 with an unchanged stake of 2.3 million shares or 3.12%. Dhammika Perera remains in control with 54% stake in Hayleys. D.S. Jayasundera Trust holding 11.6% (second largest) and Hayleys Group Services Ltd holding 1.49%.’

– ft.lk/front-page/EPF-sheds-38-of-its-stake-in-Hayleys-to-book-profit/44-711479

• Fitch affirms SriLankan Airlines’ government guaranteed bonds at ‘CCC’

– bizenglish.adaderana.lk/fitch-affirms-srilankan-airlines-government-guaranteed-bonds-at-ccc/

• Dialog completes acquisition of H One

‘H One owned by Hirdaramani Group, and founded in 2008, is the largest reseller of Microsoft enterprise solutions in Sri Lanka with an annual turnover of Rs. 1.6 billion.’

– ft.lk/front-page/Dialog-completes-acquisition-of-H-One/44-711514

• Lankan envoys meet industry professionals to boost biz, investments from South India

– ft.lk/business/Lankan-envoys-meet-industry-professionals-to-boost-biz-investments-from-South-India/34-711527

• China’s Great Wall Corporation assistance to Lankan companies to access Chinese market

– island.lk/chinas-great-wall-corporation-pledges-assistance-to-lankan-companies-to-access-chinese-market/

– ft.lk/business/Ambassador-Kohona-visits-Great-Wall-Industry-Corporation/34-711526

• Hemas Pharmaceuticals – First Pharmaceutical Company in Sri Lanka to be Awarded COVID-19 Safety Management System Certification

– bizenglish.adaderana.lk/hemas-pharmaceuticals-first-pharmaceutical-company-in-sri-lanka-to-be-awarded-covid-19-safety-management-system-certification/

______________________________________________________

C10. Politics (Anti-parliament discourse, unelected constitution)

ee Politics points to the constant media diversions and the mercantile and financial forces behind the political actors, of policy taken over by private interests minus public oversight.

• The case for positive rights

 ‘To reach a situation where we can let off according a place to positive rights, we need to first attain a position of economic and industrial strength. We cannot only think of a right to life sans a right to water; we cannot only think of a right to a fair trial sans a right to a shelter…’

– gammiris.lk/the-case-for-positive-rights/

• An opportunity for a reformist Constitution to take Sri Lanka forward

‘people matter only to the extent of getting their vote and then to be forgotten till the next occasion to seek their vote.’

– lankaweb.com/news/items/2021/01/15/an-opportunity-for-a-reformist-constitution-to-take-sri-lanka-forward/

• Asian Buddhist Conference for Peace in Colombo

– newsfirst.lk/2021/01/14/asian-buddhist-conference-for-peace-in-colombo/

– ft.lk/news/SL-hosts-13th-executive-council-meeting-of-Asian-Buddhist-Conference-for-Peace/56-711694

• Harin claims his life in danger

– island.lk/harin-claims-his-life-in-danger/

• Ranil stays put as UNP leader

– island.lk/ranil-stays-put-as-unp-leader/

– island.lk/unp-veteran-criticises-reappointment-of-ranil-as-party-leader/

• The Pohottuwa Government of Sri Lanka Part2 C4 D,E, & C10

‘Sri Lanka is mainly concerned with American foreign policy, not America’s domestic policy’

– lankaweb.com/news/items/2021/01/09/the-pohottuwa-government-of-sri-lanka-pt2-c4d/

– lankaweb.com/news/items/2021/01/10/the-pohottuwa-government-of-sri-lanka-part-2-c4e/

– lankaweb.com/news/items/2021/01/15/the-pohottuwa-government-of-sri-lanka-part-2-c10/

• CBK hits out at Sirisena: Says his remarks made in ‘Hindu’ interview was false

– dailymirror.lk/top_story/CBK-hits-out-at-Sirisena-Says-his-remarks-made-in-Hindu-interview-was-false/155-203559

– island.lk/chandrika-rebuts-maithris-assertions/

• Welgama forms ‘Leftist’ Party

‘It is called ‘Api Sri Lanka’, a movement for leftist politicians, basically an alternative political force because there’s no place for the leftists to gather. They don’t like the United National Party…. I come from a good family background and I went to S. Thomas’ College, Mt. Lavinia…’

– dailymirror.lk/opinion/Pohottuwa-is-becoming-unpopular-Welgama/172-203650

• The new camp of Sri Lanka’s progressive politics – Dassanayake response to Jayatilleka

– ft.lk/columns/The-new-camp-of-Sri-Lanka-s-progressive-politics/4-711571

• Sri Lanka’s disgrace, Trump’s worst hurrah, and Biden’s finest hour– Philips

‘18% of the US population (living in 26 rural States) elect 52 of America’s 100 Senators’

– island.lk/sri-lankas-disgrace-trumps-worst-hurrah-and-bidens-finest-hour/

• “As an exemplar and moral influence the American legacy will last long” – David

– island.lk/how-and-how-much-will-the-world-change/

• The Capitol Hill disaster movie – is this for real?

‘The Capitol Hill Police were outnumbered and overwhelmed’

– dailymirror.lk/opinion/The-Capitol-Hill-disaster-movie-is-this-for-real/172-203497

• The Dutch Burghers and English; Voices of Survivors

‘The Dutch Burghers have always been conservative and right wing politically. Only exception was Pieter Keuneman, a Cambridge-educated son of a Dutch Burgher Supreme Court Judge. He was the leader of country’s communist party.”’

– island.lk/the-dutch-burghers-and-english-voices-of-survivors/

• W.E.B. Du Bois and the Paths to Communism: A Review

“Du Bois viewed the Russian revolution as the beginning of reclaiming the civilizations of the East as part of a march to communism.”

– blackagendareport.com/web-du-bois-and-paths-communism-review

• Black Citizenship Forum: Black Intellectuals and the Violence of Citizenship

“Not just in the White Settler States, but throughout the Black world the very possibility of Black citizenship has been gutted. The U.S. and Canada can only include Black people if they perpetuate the very violence that still structures their past exclusion.”

– blackagendareport.com/black-citizenship-forum-black-intellectuals-and-violence-citizenship

• Hollywood Stars Headlining 5 Days of Biden Inaugural Events to Celebrate ‘America United’

 ‘set to officially begin Saturday, with a concert celebrating “diversity”

– breitbart.com/entertainment/2021/01/15/hollywood-stars-headlining-5-days-of-biden-inaugural-events-to-celebrate-america-united/

• Fall of the despots – Editorial

– dailymirror.lk/opinion/Fall-of-the-despots-EDITORIAL/172-203649

__________________________________________________________

C11. Media (Mis/Coverage of economics, technology, science and art)

ee Media shows how corporate media monopoly determines what is news, art, culture, etc. The media is part of the public relations (corporate propaganda) industry. The failure to highlight our priorities, the need to read between the lines. To set new perspectives and priorities.

• Captain of Business?

‘Media Services’ LMD, says January edition pays tribute to 100 ‘Captains of Business’…also features 25 ‘Millennial Torchbearers’ poised to feature among the captains of business in the future’

– ft.lk/front-page/Economic-sentiment-continues-to-wane-Survey/44-711724

• Death by Literature and aftermath

‘The English fictionalist D’Oyly’s lies have become more than populist lore. The new D’Oylys of the world now manufacture house fictions and BBC facumentaries.’

– gammiris.lk/death-by-literature-and-aftermath/

• Yaka and the old Boys

‘Unless teachers obtain better working conditions, they see no option but to use violence, delivering straitened children to bureaucratic-military organs. Violence is what capitalist states are all about, enforcing uniform hierarchies of wages and prices’

– gammiris.lk/yaka-and-the-old-boys/

• Case between George Steuart Health (Pvt) Ltd & MTV Channel (Pvt) Ltd taken up

– newsfirst.lk/2021/01/13/case-between-george-steuart-health-pvt-ltd-mtv-channel-pvt-ltd-taken-up-2/

• Anagarika Dharmapala and Ceylonese Buddhist Revivalism

– island.lk/a-name-for-every-chapter/

• Four monks conferred with “Aggamahapandita” title in Myanmar

– dailymirror.lk/breaking_news/Four-monks-conferred-with-Aggamahapandita-title-in-Myanmar/108-203616

• Relatively Unheard Sri Lankan Buddhist Monks Honoured By King Of Thailand/Myanmar

– lankaweb.com/news/items/2021/01/12/relatively-unheard-sri-lankan-buddhist-monks-honoured-by-king-of-thailand-myanmar/

• Sangakkara bats against racism in sports

‘“I read what happened to Indian players in Australia in the last 2 days. Racism in any country in any form is not acceptable. Culprits should punished and stern actions should be taken against them…”

– dailymirror.lk/breaking_news/Sangakkara-bats-against-racism-in-sports/108-203600

• Vattrapalai International Institute of Art and Film in Mullaitivu

‘The teachers are veterans from either side of the Palk Strait’

– sundaytimes.lk/210110/plus/from-ashes-of-war-rise-art-and-healing-427393.html

• Hoole thanks Dutch Government for funding his human rights training in France

– colombotelegraph.com/index.php/the-eu-way-to-bring-our-generals-to-trial-operation-flavius/

• EU & UNDP to give SL, Maldives youth new skills to counter hate speech in social media

– economynext.com/sri-lanka-maldives-youth-to-get-new-skills-to-counter-hate-speech-in-social-media-77789

• British Council power of creativity with ‘Creative Economy for Sustainable Development’

‘2.9% of the economically active workforce was involved in the creative industries, including both the highly educated and least educated sectors of Sri Lanka’s labour force.’

– ft.lk/business/British-Council-to-harness-power-of-creativity-with-Creative-Economy-for-Sustainable-Development/34-711598

• Outraged by WhatsApp’s privacy update, Viber’s CEO calls on users to seek alternatives

‘“Recent outrageous update in WhatsApp privacy policy reduces term ‘privacy’ to a laughing stock.”

– bizenglish.adaderana.lk/outraged-by-whatsapps-privacy-update-vibers-ceo-calls-on-users-to-seek-alternatives/

• Mozilla Chairwoman: ‘We Need More Than Deplatforming’

‘“the temporary silencing or permanent removal of bad actors from social media platforms” is not enough.’

– breitbart.com/politics/2021/01/10/mozilla-chairwoman-we-need-more-than-deplatforming/

• After Coddling Trump for Four Years, WSJ Editorial Board Joins Other Newspapers in Calling for Trump to Leave Office Immediately

– wallstreetonparade.com/2021/01/after-coddling-trump-for-four-years-wsj-editorial-board-joins-other-newspapers-in-calling-for-trump-to-leave-office-immediately/

_________________________________________________

• Please note our new email address: econenews@gmail.com,

& our blog: eesrilanka.wordpress.com

_________________________________________________

Published by ee ink.

This site is inspired by the dedicated scholarship and work of S.B.D. de Silva, author of "The Political Economy of Underdevelopment"

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Create your website with WordPress.com
Get started
%d bloggers like this: