The Planned Dividing of Sri Lanka & its Mythical Debts

Before you study the economics, study the economists!

e-Con e-News 09-15 January 2022

In 1917 the USSR rejected Czarist debt.

In 1949 China rejected colonial debt.

In 1959 Cuba rejected colonial debt.

Parasitic oligarchies the world over have to hide their loot in the white ‘havens’. US, English and EU spy agencies know all about their stashes. Quietly or publicly, the whites let the oligarchs know they know. They figure oligarchs will never bite the hand that holds their nuts.

     Yet imperialism plans to invade and divide Sri Lanka into a proposed Arabistan and Eelam vs the majority of the country? This ee details how the little-known London Club of bankers and the Paris Club of creditors would decide on the future states in a former Sri Lanka (see ee Focus).

• ‘Calls by business leaders and economists for default are ‘politically motivated and frivolous’… The government’s political opponents have been hollering about a default for the past 3 months. ‘Now that the government is honoring [the debt], the same economists want the government to default or seek a restructure… [the] opposition realizes this is the best opportunity to destabilize the government.’ – ee Economists, Sri Lanka economists

• Over 500 years of invasion: the white man still insists it’s we who owe them money. The ruling oligarchs, media and their economists all agree: We (not they) must pay any debts. Their import agents: merchants (of imported goods & imported dollars) have long monopolized national resources. Yet they cry, ‘a toxic combination’ of ‘populist economic policies’ have enabled governments to stay in power since ‘independence’, feeding ‘an entitlement culture’, which people have got inured to. We (sic!), they insist, have underperformed since 1948, after being second only to Japan (post-Hiroshima?) in socioeconomic indicators. And compared to East and SE Asia, we’ve been deprived of a high standard of living (SL Economic Summit, 2021).

     Populism? Was it populism that entrenched the import-export plantation oligarchy after 1948? Populism that post-1948 still allowed English banks & companies to withdraw capital and assets stolen from the country for centuries? Is it populism that’s prevented modern industrial strategy?

• The USA (IMF, etc.) tries to destabilize any government accountable to its people. They particularly wish to weaken working classes. So it’s with irony ee read this week, of a staff revolt at the Employers’ Federation of Ceylon (EFC). The EFC, after all, promoted the mass sacking of 50,000 unionized workers in July 1980, accelerating the terrorism that ensued. This was done on behalf of the IMF, etc. It’s another irony that the most powerful groups are organized as a class in the society – Bankers, Merchants, etc. The EFC also registered as the first Trade Union in 1935 (ee Workers, Revolt). Meanwhile the frauds perpetrated by the private sector in the name of advertising and conferences, etc., go unchecked (ee Business, Fraud)

• As we approach the 74th anniversary of Soulbury independence on February 4, we need to clear away the mists. In 1948 Sri Lanka was turned into a US colony in all but name – the 53rd State of Amnesia. Our colonial bondage, symbolized by the US Treasury setting up the Central Bank here in 1950, reinforced SL as an exporter of underpriced raw materials, and a consumer of overpriced imported industrial goods, refusing to invest in modern industry.

     A deal with the International Monetary Fund etc. really means a deal with the Great White Father in Washington and his Treasury. What will an IMF deal actually entail? (see Random Notes)

• Sri Lanka’s 16 deals with the IMF since 1950 have deepened debt. Yet, capitalists are all screaming in one voice we should try another IMF deal. The whites are rousing up all their holmung. The Canadian government is warning Canadians here to stock up food (while inviting Sri Lankans to work in Canada in dangerous jobs). Vulture funds are circling. US-regulated Rating Agencies are pessimistic. Grey economists are expressing 50 shades of doom’n’gloom. Chambers of Commerce and the usual US-funded thinktanks – Pathfinder, Advocata, Verite, IPS – are demanding blood (aka privatization of SOEs). The US is banning government officials as war criminals. UN agencies, gone rogue on the General Assembly, are curtailing national sovereignty.

     It’s all about ‘White exceptionalism’: they invent their own memory, history, reality. White projectionism: all their crimes, they accuse us and others of committing. And their media here sing, ‘Yeah, yeah, yay!’ This ee Focus explores the link between the US setting up the mistitled ‘sovereign debt bonds’ for ‘emerging markets, followed by the entry of fake vulture media like Bloomberg.

     This ee analyzes the hype about the SL economy by Bloomberg, about an investment (actually a vulture) fund openly betting on the government defaulting. Social media traffickers even claim the Rajapakse family has bet against default. Others say they’ve bet on default. But is it vultures, speculators or banks? The JVP’s Harini Amarasuriya this week sighed, that international rating agencies are ‘independent’ and that their ratings are ‘very important for investors to make decisions’! Our intellectuals! Dear, Oh dear!

The US banned Europe’s richest company, ASML, from selling its most advanced machines that make machines (to produce semiconductors/chips) to China. Holland’s ASML claims to be largest public tech giant (the real giants hide from sunlight). Yet ASML workers have to be first whetted by the US military! (ee Focus, ASML)

     Industrial Holland has a smaller population than ours. Our educated-idiots still insist Sri Lanka does not have the market to be an industrial power, citing ‘economy of scale’ etc. Yet Singapore and Switzerland, with even smaller populations, are industrial powers. Our e-diots would rather whine about debt, default, etc., without citing that industrialization is how countries can truly wriggle out of debt traps. But they don’t even know what real industrialization is. Marx in the 1860s defined industrial capitalism, not as manufacture and assembly but, as: Machines making machines. It’s not Marx who is dead but our Leftists, Marxists – and those nationalists who do not know that modern nidhahasa is based on machines making machines!

Contents:

A1. Reader Comments

• English is Foreign to Us • Media Sunlight • Cher the Elephant Girl • JVP Oils • Hindus & Buddhists • 32 million Afghan Children Starved • Black New York Mayor Commits Arson

A2. Quotes of the Week

• Who Owns Sri Lanka’s International Sovereign Bonds? • The Real Debt Trap • $2.25bn Annually Paid to Study Abroad • JVP Denies Industrial Production • US & Japan • Russia Responds to Blinken on Invaders Refusing to Leave • Style Manual for Mass Murder

A3. Random Notes

• Google Blocks Alternative Media • IUCN Ignores Organic • Being Fair to Vultures • London & Paris Clubs & Debt • Corporate Corruption & Time • Why Whites inviting SL workers now • Foreigners Doctoring England

B. ee Focus    

B1. The Planned Division of Sri Lanka & its Mythical Debts

B2. Vulture Funds, Vulture Media or Good Old Colonial Cannibals?

B3. The Richest Tech Company in the World, or Are They?

C. News Index

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A1. Reader Comments

ee thanks Readers who send articles of interest. Please excerpt or summarize what is important about any news sent, or your comments, and place any e-link at the end. Email: econenews@gmail.com

• ‘I am enjoying this ee journalism. English is foreign for us in any form we use it.’

• ‘Has ee noticed that very single Financial Times news item online is underlined by an ad for Unilever’s ‘Best Ever’ Sunlight… for a long lasting aroma’. More like 500-year-old stink!

• ‘The media is crediting US ‘performer’ Cher, for the passage of the Animal Welfare Bill in Sri Lanka. Cher belongs to a long line of ‘Pretendians’ – white people who declare they’re not just settlers but related to the original peoples of the Americas. She is also considered a founder of US ‘ethnic’ fashion, sporting gaudy costumes! Maybe, she turned expert on elephants after dealing with her abusive husband and business partner?’

• ‘JVP’s Bimal Ratnayake said Sri Lankan oil prices are higher than the rest of the world. Petrol in Delhi is SL Rs285 per litre, and in England it is Rs400/l. In Sri Lanka it’s Rs157/l…’

‘India’s Hindus are being painted with same brush that Sri Lanka’s Buddhists are: even fake Church attacks could very well initiate an ‘intolerance’ debate, as seen in Modi’s first term as prime minister (see, firstpost.com/india/the-missionary-position-when-perpetrator-pretends-to-be-victim-10271181.html)’

• ‘3.2 million Afghan children will starve this year, mainly due to Biden’s “build-better” policies.’

• ‘The New York Bronx fire that killed 17 people is owned by a group of investors that includes a company co-founded by a member of ‘Black’ NY Mayor Adams’ own transition team.’

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A2. Quotes of the Week_

• ‘The Sri Lankan Government took over 99 tanks at the Trincomalee farm paying Sterling Pounds 250,000 to the English Navy in 1964’ – ee Sovereignty, Federation

• ‘There is no public data sources that list who own Sri Lanka’s International Sovereign Bonds. The only people who have the full list is the HSBC Custody Service in New York who are the fiscal agent of the Government of Sri Lanka (GoSL). They maintain the registry and handle payment to bond holders. Unless bond holders want their identity revealed even the GoSL does not know.’ – Borah merchant Murtaza Jafferjee, US Advocata chair

• ‘China officially accounts for just 10% of Sri Lanka’s external debt stock – on par with Japan, per finance ministry data. Dues to money managers on Wall St & beyond are a bigger problem, though. Market borrowings accounted for 47% of Sri Lanka’s $35billion overseas debt as of April. Of this year’s $4.5bn foreign debt service bill, more than half relates to US dollar bonds.’ – ee Economists, Wall Street

• ‘5,000 Lankan students go overseas annually for studies and each student spends $30,000 per year, resulting in a combined outflow of $750million annually and $2.25billion collectively annually for them and others going on their 2nd and 3rd year.’ – ee Economists, Dhammika

• ‘Sri Lanka cannot acquire a market share with industrial and technological products… A Chinese phone manufacturer makes phones at the cost of USD7 per unit and exports it at $6.5. He sells lower than the cost. Then the Chinese government pays him $1 for each phone exported, and so the manufacturer gains $0.5 profit from each unit. Can we compete in such a sphere? We can’t. Can we make Volkswagen cars here? We can’t. So our plan is to win the global market with products unique to Sri Lanka. There are 14,000 grama niladhari divisions in the country. If we can produce one SME agri-entrepreneur in each division and if he/she can create 10-15 jobs that will amount to a huge number of jobs countrywide.’ – Anura Kumara Dissanayake, ee Industry [ee notes: As far as we know, these claims about China are just not true!]

• ‘After its defeat of Russia in 1905, Japan became, in US eyes, a rival for control of the Philippines. Two years later the US was, in the words of Philippines Constabulary (PC) chief Bandholtz, ‘simply slopping over with Japanese spies’… the aim of such espionage not invasion but ‘to incite the Filipinos to frequent uprisings… in the hopes… our government would be willing to get rid of the islands at any price.’ Half a world away, US President Theodore Roosevelt shared a similar sense of Japan’s threat. In 1907 he ordered the Military Information Division to submit ‘weekly memoranda concerning the activities and apparent intentions of the Japanese all over the world.’ Reportedly ‘convinced that Japan was preparing a hostile move against the US,’ the president, mindful of recent tensions with Tokyo over Japanese immigration, ordered the Atlantic Fleet to cross the Pacific in a show of force, producing the famed global circumnavigation by the US ‘Great White Fleet’.

     … Fueling a growing Filipino sense that US influence was fading, Roosevelt’s successor, President Taft pulled the main US Navy forces back to Pearl Harbor in late 1909 and ended construction of naval fortifications in the Philippines. In the words of one PC secret agent, this news ‘sounded like a bomb in all social circles.’ Communicating a sense of vulnerability at this edge of empire, Governor-General Forbes warned the War Department, ‘it is the policy of Japan to cultivate throughout the islands a pro-Japanese feeling and an anti-US one at the same time they are mapping and surveying… the roads and ports… we should take certain precautionary measures… creating among the Filipinos a public opinion distrustful of Japan.’ – McCoy, Policing America’s Empire: the USA, the Philippines, & the Rise of the Surveillance State

• ‘The Russian Foreign Ministry furiously denounced Blinken’s insulting remarks. It said Blinken spoke ‘in his typical boorish manner… When Americans are in your house, it can be difficult to stay alive, and not to be robbed or raped. Indians of the North American continent, Koreans, Vietnamese, Iraqis, Panamanians, Yugoslavs, Libyans, Syrians and many other unfortunate people who are unlucky enough to see these uninvited guests in their ‘home’ will have much to say about this.’’ – ee Sovereignty, Color

• ‘The capitalization of abbreviations… One general rule is to avoid the all-uppercase formulations common in the US military for weapon designators (use Scud, not SCUD) and for exercises. Lowercase is preferred for acronyms (such as comsat), but be aware of exceptions (notably NATO, SIGINT).’ – US Directorate of Intelligence, Style Manual & Writers Guide for Intelligence Publications

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

• The US government pressures the big multiplier sites like Google, Facebook and Twitter to artificially decrease the ranking of independent media. Loss of visibility leads to less than natural traffic growth on sites. People may counter this by mentioning and linking favorite alternative sites to any ‘social media’. Doing so consistently may help overcome such latent censorship.

• The Environmental lobby are constantly predicting the end of the world (Christian Armageddon!) due to the loss of a frog or a rare species. Yet remain awfully silent about the attempt to ban carcinogenic fertilizers. They, like Exxon-Rockfeller’s IUCN, were up and running again this week on the ‘end of the world’. IUCN is helping the privatized cement business with conservation (ee Agriculture). How many environmental and other NGOs are there in this country? Bet there are thousands! All as silent as those Hollywood lambs. And the state says they have no control over them. Then again, the term ‘NGO’ was made as a size to fit all private corporations too!

• Is it fair to vultures? To blame those bloody birds for a flesh-chomping blood-sucking economic system? Do avian vultures make the real erect-cannibals look good? These ‘vultures’ smell blood and are encircling the country we’re told this week. No reference to ‘respectable’ vultures like the World Bank, IMF, WTO, ADB, etc. Nor to the vulture media and their vulturine economists, all demanding in one voice that we submit to the IMF, as if we have not kowtowed to them, 16 times already!

• Sri Lanka’s 16 deals with the IMF have deepened underdevelopment. Yet the capitalists are screaming we should try another deal. A deal with the London Club of ‘commercial banks’ (set up 1975), and Paris Club of ‘official bilateral creditors’ (from 1955), promises access to international capitalist markets. This will burden the country further by having to service (pay) the debt instruments issued under a London Club (aka Bank Advisory Committee) agreement. But, signing agreements with the IMF, WB, London & Paris Clubs, will not ensure stability, nor restore access to international ‘capital’ markets that would invest in modern production. They provide loans at their pleasure, only if the ‘structural reforms’ they demand are hastened. The rupee will be devalued further, to supposedly stimulate exports; and instead blamed on the Central Bank, speculators or China. The London Club agreement will demand we buy 100s of millions in US government securities, to secure the government’s obligations issued to the foreign banks holding the debt. They will also oppose buybacks – a favorable method of debt reduction. All this will make Central Bank interventions impossible. Money will be lent to buy ‘SOEs’ for mass privatization, especially state banks long sabotaged by preventing investment in modern industry. They could even insist that land (like plantations) be returned to former colonial owners! They will also prevent land reform, and the growth of a rural home market to bolster industry. They will instead demand duty-free import of machinery, goods & services to ‘manufacture’ exports. And demand mass unemployment to weaken the working class, and labor laws. This will further increase ‘uneasiness’ in foreign markets and further shrinking of foreign reserves. The need to service the ‘debt instruments’ of the London & Paris Clubs and other international organizations, will impose heavier burdens, hemorrhaging 100s of millions more dollars to them.

Corporations seem to have a tremendous amount of time to waste. Going by the evidence provided in media business sections, most of their time is not spent on increasing their productivity, but on PR, setting up ceremonies, giving themselves awards, making ‘humanitarian’ donations, obviously paying media owners journalists and editors to report, or rather print, their PR press releases, etc. This week’s ee Business gives but a glimpse into the waste of time by corporations, in meetings etc.

• ‘Sri Lanka soon to have improved access to employment in UK’s healthcare sector’ headlines Daily Mirror; ‘Quota for Lankans employed in S Korea to be increased: News1st

     News online recently are full of ads to become high-paid truck drivers in Canada or for healthcare jobs in imperialist countries. Foreign-trained nurses, and workers in Covid-challenged logistics industry, are highly sought by Anglo-America. Canada will be short 12,000 truck drivers due to its new vaccine mandate. Omicron-fueled US cases reach a million daily, England over 200,000, Canada 40,000. These are only tested/recorded figures, but now PCRs are only for high-risk people in Canada, and as in the US rapid & private tests can’t even be bought (being compared to ‘Hunger Games’). Real figures might be 8 times more?

New variants come as no surprise, as rich nations have hoarded many times more vaccines than needed, only making hollow promises to underdeveloping countries or dumping expired doses. Instead of easily ending the pandemic by allowing others to produce needed vaccines, big Pharma is allowed to make billions in profits, based on public-funded tech like mRna. South Africa and India couldn’t keep the vax they produced, being quietly shipped away to rich countries who no longer needed more – then when variants emerged in low-vaccinated regions, only South Africa got blamed and banned for discovering it and warning the world!

Meanwhile, these same rich countries are now trying harder to steal even more of our doctors, nurses and other professionals – trained by ‘free’ education here. The old ‘brain drain’ and colonial imbalances have gone viral. As Anglomania takes a new twist here, with many wanting to follow England and the US’s deadly model of ‘living with Covid’ which is now overwhelming hospitals there – Maybe importers are hoping to import Omicron too! Those objecting to SL military contributions while praising US civil society, are silent as Biden sends the army into hospitals. ‘Herd immunity’ is a dangerous idea, which scientists now say may never be possible as Covid keeps mutating. Yet capitalist & social media still focus on misguided denial, selfish ‘individual rights’ – instead of the strength of our collective community-care traditions and public health systems. It’s clear, rich countries are only keeping the pandemic going endlessly with new variants by refusing to share vaccines or patents. As their exhausted workers resign in droves, they lure more of our ‘brains’ away.

     Stealing our Skilled Workers: England ‘trains only half the number of doctors that it needs, far less than in other developed countries. England has 28 doctors for every 10,000 people compared with 37 in comparable EU countries reports the British Medical Association… ‘In 2019 more doctors joined the [NHS] workforce from outside England than were English-trained, a ratio never before seen,’ says Rachel Jenkins, professor emeritus of epidemiology at King’s College London… medical student places in England need to be double from the 10,403 currently available, so as not to rely on attracting scarce doctors and nurses from Africa and South Asia.

     The number of foreign doctors joining the NHS doubled 2017-19 alone… 112,024 as of last month or more than a third of the licensed doctors in the UK. …worldwide shortage of physicians, the WHO estimates to number 2.8 million… Rich countries that boast about their international aid programs are mute about [being] parasitic on the scarce healthcare resources of the recipients of that aid. This receives little publicity (see, NYTimes, 2012: ‘USA is stealing the world’s doctors.)

OECD countries all siphon off scarce medical personnel from poor countries, but England is among the worst offenders… cheaper to get somebody else to pay for training and medical schools.’ – counterpunch.org/2022/01/11/whats-driving-the-uks-shortage-of-medical-doctors

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B. Special Focus_

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B1. The Planned Division of Sri Lanka & its Mythical Debts

If Sri Lanka is invaded, creating an Arabistan-I and Eelam-V as planned, first the so-called ‘international community’ – and more precisely their major international financial institutions (IMF aka US Treasury, London & Paris Clubs) – would set up an Arbitration Commission. Their public and international law ‘experts’ would judge the issues arising from any ‘peace process’ or succession of states. They would then officially declare the death of Sri Lanka and name the new states as its equal successors.

     Multilateral financial institutions would then, postmortem, determine the apportionment of the former Sri Lanka’s external debt. This will also pave the way for foreign creditors, especially the Paris Club and London Club (the media refuses to discuss such Clubs) to directly negotiate with the new individual states. A working group, based on their own definition of state property, would prepare an inventory, evaluate and divide the assets, archives & liabilities of the former Sri Lanka. However, the London Club, etc., will insist that all claims have to be negotiated directly with each successor state, and not be binding on any creditors. Debts will be apportioned and serviced (paid) by the new Central Banks. Each state would begin bilateral negotiations with individual Paris Club members, and assume their share of the former Sri Lanka’s debt, which will then be ‘rescheduled’. The new states will have to deal with a third group of foreign creditors – the London Club of commercial banks. The negotiating team for the London Club is an International Coordinating Committee (ICC, a group of commercial banks directly negotiating the apportionment and succession of the former nation’s debt), based on the deals with the international financial institutions (IFI) and the Paris Club. They will dispense with all clauses unfavorable to the foreign debtors, with each new state paying a price to be ‘released’ from the former Sri Lanka’s debt. The IMF will decide on the apportionment of ‘non-allocated’ debt. The new states could also refuse to pay those creditors who had bought up loans on the secondary market using the foreign-exchange reserves of the former Sri Lanka. The final agreement with the London Club will then serve as a model for the overall resolution of the former Sri Lanka’s debt. The former Sri Lanka will be prevented from negotiating the terms of servicing the debt with the IFIs and the London & Paris Clubs, let alone with the new states. Any legal cases arising from the division will be decided in Washington’s or London’s courts.

     Archives – The division of property and debt will also be linked with the division of archives of the former Sri Lanka. Archives (all documents of whatever date or kind, produced or received by the predecessor state in the exercise of its functions) are required for the normal functioning of a state, and have been subject to over 200 international agreements regarding succession of states, with experts from the International Council of Archives (ICA) and UNESCO. (This scenario is based on what truly happened after the toppling of Yugoslavia)

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B2. Vulture Funds, Vulture Media or Good Old Colonial Cannibals?

This week, Sri Lanka’s media was agog that a Swiss fund manager was betting on Sri Lanka defaulting. ee attempts an analysis of this Bloomberg article, about Swiss (or is it Luxembourg?) Vontobel, which like all such funds, offers white investors a ‘market-leading emerging markets fixed income solution’. ee shows how it’s not just a matter of vulture funds and their vulture media like Bloomberg or Reuter.  It’s the big banks!

     The term ‘Emerging Markets’ was first coined in 1981 when a former World Bank official ‘planning to start a ‘Third World Equity Fund,’ wished for a ‘catchier’ trope.

     The source of the crisis was based on changing strategies in international capitalism: on the banks who monopolize capital flows into ‘emerging economies’ (that can never truly emerge), with the growing prominence of highly mobile volatile forms of capital and transactions.

     In the 1950-60s, bilateral and multilateral government loans provided the majority of all capital flows to underdeveloping countries. After 1984, private flows increased 5 times faster. In 1995 private capital equaled 75% of all investment. Volatile portfolio investment (mostly in the non-Anglo-Americas) went from 2% of capital flows in 1987 to 50% in 1996 – most money controlled by a few Emerging Market Fund Managers

     In 1989 the US Treasury pushed their colonial economies to restructure their debt via bond issues, denominated in US dollars – promoting emerging market debt bonds as a major fixed-income asset class. Hot money gushed into fast-growing ‘emerging markets’. ‘Hot money’ could be sold or withdrawn quickly, at the stroke of a computer key, by portfolio managers or commercial bankers or currency traders sitting in offices thousands of miles away. Bloomberg News was set up a year later by Salomon Brothers trader (and later NY Mayor) Michael Bloomberg in 1990.

     Why was it necessary for Bloomberg to mention the Vontobel emerging-market money manager betting on Sri Lanka’s default as a Venezuela-born investor!? Then there’s the agency Citywire, owned by Reuters, rating such money managers, not by their place of birth. London-based financial publishing and information group Citywire rated some of Vontobel’s managers as ‘A’ class, but not Sousa: ‘Luc D’Hooge, Citywire + rated manager, runs all 3 funds and works alongside A-rated manager Wouter van Overfelt on the EM bonds and funds.’ Citywire claims to track the performance of 15,000 fund managers in 41 countries… for their clients: professional advisers and investors. The company has offices in London, Milan, Munich, Singapore and New York. In 2001 Reuters took a stake in Citywire. Bloomberg does not mention this investor Sousa’s rating. Why? Who will rate the raters and report the reporters?

     The Bloomberg article (see below), subheaded ‘Vontobel’s Carlos de Sousa sees Sri Lanka defaulting by midyear’, was written by one Maria Elena Vizcaino, assisted by local informants Lilian Karunungan, and Anusha Ondaatjie. Bloomberg announced – one day after the Sri Lanka article – on January 11, that Vizcaino was moved to their emerging markets team, ‘covering Latin American fixed income markets’, including government financing. Employed by Bloomberg since September 2019, Vizcaino first interned on their ‘municipal finance’ team, and then on the ‘mining and metals’ team. The article’s tone suggests the reporter’s possible conflict of interest, or perhaps, enlightened self-interest.

     Unlike the conflicted Bloomberg reporter Vizcaino, others are not so bullish about Vontobel: ‘Emerging market debt (EMD) requires a longer track record… Some investors are nervous about the Vontobel fund’s short-term track record: ‘In a market such as EMD it doesn’t tell us much about how the strategy and managers are likely to perform across a broad range of markets, especially in bear markets, as downside protection is essential when investing in this asset class.’

     Critics also point out Fitch’s AAA ratings do not necessarily indicate liquidity, as anyone who traded AAA structured credit through 2007-9 will know. Fitch loved companies and banks that soon crashed (ee 21 Nov 2020). Fitch’s very narrow definition of liquidity as a percentage of cash held, doesn’t make sense. It’s never clear whether a ratings agency goes through and looks at individual securities held in portfolios, how often they are traded, how liquid they are, and how easy it is to get in and out of those positions. The reality is, ‘the market’ has a relatively short timeframe memory of what happens in different market environments.

     So who are such managers and who are they working for? ‘Vontobel Asset Management, a wholly owned subsidiary of Vontobel Holding of Switzerland, appointed Luc D’hooge as head of emerging-markets fixed income, taking him from Dexia Asset Management, where he was head of emerging-markets bond funds and managed emerging-markets debt portfolios. Vontobel also appointed Wouter Van Overfelt as portfolio manager with experience in quantitative analysis and credit risk modeling, who was taken from GDF Suez, a French multinational electric utility company.’

     Vontobel clearly loves the latest ‘woke’ jargon, claiming their strategy strives ‘to capture value and event-driven opportunities, as well as mitigate risks through ESG consideration and integration.’ What is ESG? Environmental, Social & Corporate Governance, a corporate social responsibility initiative launched by the UN, measures intangible assets: ‘a firm’s collective conscientiousness for social and environmental factors’. Really!

     Vontobel also claims it outperformed its reference index. The index comprises JPMorgan Government Bond Index-Emerging Markets (GBI-EM) indices that track local currency bonds issued by EM governments, for investors searching local markets for higher yield and ‘greater diversification’.

     So our supine media sells the advice of so-called Registered Investment Advisors (RIA). Mergers and Acquisitions (M&A) in the RIAs fraud are at record levels. RIAs pulled off 165 mergers in the first 3 quarters of 2021. Cheap capital due to the prevailing low interest rate environment has allowed private equity firms and well-heeled strategic buyers to spend freely, sweeping up RIAs managing billions of assets.

Here is the Bloomberg article. Please note the bolded jargon: ‘A top emerging-market money manager is now waiting for Sri Lanka to default to load up on the nation’s debt, reports Bloomberg. Carlos de Sousa’s $3.8billion developing-nation bond fund at Vontobel Asset management in Zurich, expects the South Asian country to run out of money to pay creditors by midyear – even after the Central Bank vowed to meet this month’s obligations. The Venezuela-born investor already owns the bonds and is waiting for a default-led selloff to buy more, betting the average recovery value of the notes could top current prices. Most of Sri Lanka’s external bonds have lost about half of their value since the beginning of the pandemic, to trade around 50 cents on the dollar as foreign-exchange reserves dwindled. Travel restrictions have hammered the tourism industry, which accounts for about 5% of the economy, while extended lockdowns hurt commerce and industry. The ‘island nation’ is now mulling a bailout from the IMF. ‘Bonds are so cheap that the recovery value is above current prices,’ de Sousa said. ‘The default probability is bigger than 50%.’ Sri Lanka has $15bn in external bonds outstanding, with the next principal payment due on January 18. On Wednesday, the CB governor tweeted, $500million had been set aside to pay back holders on that day. In July, the nation has another principal payment of $1billion. SL’s bond prices have lost half of their value as FX reserves shrink.

     (Sri Lanka asked China last Sunday to consider restructuring debt repayments during a visit by Foreign Minister Wang Yi. Its dollar bonds traded mixed on Monday. Notes due March 2030 were 1% lower at 48.3 cents on the dollar, while debt maturing in July 2022 were 0.4% higher at 71.3 cents. Vontobel’s EMD fund… ‘outperformed 84% of its competitors’.)

     The 34-year-old investor attributes part of the fund’s gains to a bet on Ecuador bonds ahead of the April presidential election. The surprise victory of a former banker spurred a 20-cent rally in the notes in a matter of days, making them one of the best performers in the developing world just a year after the nation restructured $17.4billion in international debt. Vontobel’s fund had about 2.5% of its holdings in Ecuador bonds

     Wagers on a rebound in Colombian bonds after the nation was downgraded to ‘junk’, and a position on Angolan debt, which also had double-digit returns last year, also contributed to that performance, de Sousa said. Other frontier-market bonds rewarded investors with stellar returns last year. Zambia’s bonds soared over 30 cents in the week following the election of a market-friendly president, handing creditors returns that approached 50%. In Belize, a debt restructuring spurred double-digit gains for investors.

     For this year, de Sousa’s highest-conviction trades include overweight positions in Argentina and Tunisia, where he expects deals with the IMF to materialize in 2022. He’s also scooped up bonds from the Bahamas, a country he says is too rich to have a double-digit yield, as well as GDP warrants from Ukraine, dollar bonds from Petroleos Mexicanos, Egypt debt, and euro-denominated notes from the Ivory Coast.

– bloomberg.com/news/articles/2022-01-09/top-emerging-market-bond-fund-sees-sri-lanka-default-windfall

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B3. The Richest Tech Company in the World, or Are They?

Holland, with a population smaller than Sri Lanka, is among the top industrial powers. So is tiny Singapore. So is Switzerland.

     Industrial countries hide their industrial power. They actively even claim they have no ‘modern industry’. Our economics professors will insist, Holland is a cut-flower seller and cheese maker. Yet Holland’s ASML (once called Advanced Semiconductor Materials Lithography), the maker of chip-making machines, is the most dynamic tech entity in all Europe. It is claimed as ‘the global epicenter of digitization’. They produce the machines that produce semiconductors (chips). ASML has outgrown Shell, Philips, and Unilever. Yet the ugly truth is most Sri Lankans have no idea what an industrial country is all about. Nor do our brilliant scholars and economists. They don’t realize, the superhighway to higher GDP – though a dubious indicator – is to increase diversification of the economy, i.e., increasing modern industrial production.

     Sweden’s Stockholm boasts the highest number of tech unicorns (startups) per capita in the world, except for US’ Silicon Valley. London is Europe’s Venture Capital hub. Yet in 2021 Europe’s largest public tech company by market cap, ASML, was in Holland’s Veldhoven, by Belgium’s border. ASML was valued over $300billion. Its share price more than doubled since 2019, hoping to become EU’s first company valued above $1trillion.

     Chips from the very beginning were linked to the US wars – for developing the first Intercontinental Ballistic Missiles (ICBMs) to the weapons used in their war on Vietnam. ASML’s origins are linked to Dutch Philips, but also deeply linked to the US military, and such US companies like ElmerPerkins and Silicon Valley Group (est. 1977, for which Wiki has no page). In 2001 Silicon Valley Group merged with ASML.

     ASML thus discriminates in choosing workers by citing US military export restrictions. ASML’s personnel department has to check with the US military ‘black list’.

     In 2018 the Trump administration lobbied the Dutch government to block ASML from selling an EUV machine to China’s Semiconductor Manufacturing International Corporation (SMIC). Trump’s national security advisor told the Dutch government in 2019, ASML machines cannot work without US components and the White House could restrict those parts being exported to the Netherlands. ASML’s EUV machines contain lasers made by San-Diego-based Cymer (The richest US states focus on high-value-added advanced manufacturing). The Dutch government thus didn’t grant ASML the licence to sell its machinery to China. Yet China is still a major market for ASML’s older products, and ASML expected around $2.6billion in sales to China in 2022. Around 30% of ASML’s sales came from China in 2020. Trade tensions could hit revenues and undermine investment in costly R&D.

     The US fears advanced chips could end up in China’s military technology. China only sells 7.6% of the world’s chips, yet chips are one of 7 technologies Beijing, in its Made-in-China 2025 project, targets. Some whites fear that by blocking China from the global supply chain, China will just develop its own ASML.

     In April 2021, a semiconductor industry association and Boston Consulting Group report warned that export rules are stimulating China to develop its own alternative chip machinery manufacturers. Shanghai Micro Electronics Equipment may be Beijing’s alternative to ASML. European suppliers fear they will soon lose the Chinese market. ASML also worries about disruptive technologies such as photonics, using light instead of electricity (electrons).

     Each EUV costs $140million, with over 100,000 parts, using 40 freight containers or 4 jumbo jets to ship each one. ASML directly hires 15,000 workers: 44% possess master’s degrees, 33% a bachelor’s, and 600 PhDs. Of ASML’s 5,000 suppliers – 790 provide materials and equipment to directly produce the ASML systems. ASML’s high-technology network includes Philips Research Laboratories, Philips Center for Fabrication Technology, Carl Zeiss, IMEC, Agilent. ASML maintains applications and training facilities in Veldhoven, in Tempe, Arizona, in US-occupied Korea and Taiwan. Main suppliers are in US, Belgium, France, Germany, Ireland, Israel, Italy, Holland, England, China, Hong Kong, Japan, Malaysia, Singapore, South Korea, Taiwan.

       Spun out from Dutch electronics giant Philips in 1984, ASML is now the largest supplier of photolithography systems primarily for the semiconductor industry and the sole supplier of extreme ultraviolet lithography (EUV) photolithography machines in the world. ASML enables other companies to make semiconductor chips, the tech brains in phones, cars, computers, and smart homes. ASML claims up to 85% of the total market for lithography systems that make semiconductors. With its most advanced type of chipmaking lithography machine – EUV – its claims a market share of 100%.

       ASML claims $4 of every $5 in revenue produced in its industrial niche. Nikon and Canon take up much of the rest. South Korea and Taiwan provide 58% of ASML revenue, Intel and other US custonummers 41%.

     In the 1990s ASML developed EUV technology, using tiny rays of light to carve patterns on the silicon pieces that form semiconductor chips. ASML boasts it’d take at least 15 years for others to replicate their tech.

     Manufacturers are optimizing processing by spending billions on R&D to increase density of semiconductors. ASML has the highest budget among these machine suppliers with trusted semiconductor suppliers. Its EUV persuaded its customers – including Intel, Samsung, Taiwan Semiconductor Manufacturing Company (TSMC) – to buy shares in ASML to fund research. It launched its first commercial EUV machines in 2017, after spending $9billion. It’s now the only company supplying EUV machines, to make the most advanced chips for newer phones and games consoles, to industry giants like TSMC or Intel. By September 2021 the company had sold 125 EUV machines, at over $100million each. In 2021 ASML spent 13.7% of its sales on R&D.

     The smaller the transistors used in chips, the thinner the markings need to be on wafers that show where a chip’s circuitry will be placed. Circuit patterns were transferred to wafers by photo masking, but then ASML created an EUV machine to allow extremely thinner patterns to be ‘printed’ on wafers.

     ASML is one of the sole suppliers of lithography machines to leading semiconductor suppliers. It focuses on EUV and Deep Ultra Violet Lithography machines to help manufacture semiconductor materials.

     A key ASML priority is therefore EUV industrialization, crucial to future semiconductor production. EUV Lithography systems condense semiconductor wafers to be more efficient:

     ‘To generate extreme ultraviolet (EUV) light, a CO2 laser fires 2 separate laser pulses at a fast-moving drop of tin. This vaporizes the tin and creates EUV light, up to 50,000 times per second. Several multilayer mirrors guide the EUV light to the wafer, shrinking the reticle pattern by a factor of 4. The wafer stage positions the wafer under the light to within a quarter of a nanometer for each exposure, checking and adjusting 20,000 times per second’.

     Dominating other major semiconductor suppliers, ASML monopolises most name-brand semiconductor companies. Its products are key pieces of many semiconductor supply chains across the world. ASML networks with the US’ Advanced Micro Devices, Lam Research, and Taiwan Semiconductor, to control the semiconductor market.

     ASML’s High NA second-generation EUV will allow foundries to produce chips using a process node under 3nm for $300mn per machine. EUV extends Moore’s Law (‘number of transistors in a Dense Integrated Circuit doubles about every 2 years’) below 10nm.

     US Intel was the first recipient of the next-gen ASML machine. The current EUV machines have an Numerical Aperture (NA) of .33, but ASML and ZEISS are testing machines with an NA of .55. The higher the NA, the higher the resolution of the pattern transferred to a wafer. Foundries then won’t need to run a wafer through the EUV machine a second time to add additional features to a pattern.

     The original EUV machines are used by such companies as TSMC and Samsung, the world’s 2 largest independent foundries and the only companies currently manufacturing 5nm chipsets.

     These machines focus narrow beams of light on the aforementioned wafers once they have been treated with ‘photoresist,’ a material sensitive to light. High NA includes a novel optics design and requires significantly faster stages. The higher resolution will enable 1.7x smaller chip features and 2.9x increased chip density.

     Customers could reduce process steps, with significant defect, cost and cycle time reductions. The new machine could reduce the time it takes to bring a chip to market, not a little feature in such a dog-eat-dog industry. The main goal with the next-gen EUV machine is to use the narrowest wavelength of light possible in lithography so that the foundries can fit more transistors onto each wafer.

     High-NA machine will allow chip designers to create custom patterns on their components, and use High NA for their own R&D. The first High-NA machines will be ready in 2023 as ASML continues working on them, costing $300mn. Starting in 2025, foundries could use High NA for high-volume chip manufacturing.

     The new EUV machine will allow chip manufacturers to build chips using a process node under 3nm. Right now they are at 5nm, with 3nm chips expected to be ready for volume production by end of 2022.

     Of course ASML does not divulge its real ownership. They simply will not divulge who the real owners are: Not just shareholders, but shareholders with voting rights. They claim institutional investors own over 50% of ASML, and is not owned by hedge funds. The largest public shareholders listed are BlackRock, Baillie Gifford, and The Vanguard Group.

     Also, the top Semiconductor Lithography Equipment sellers for 2021-8 are mostly US (mostly not detailed on Wikipedia). They include Applied Materials, ASML, MICROTEC, Tokyo Electron, EOL IT Services, Canon, JEOL, NuFlare Technology, Vistec Semiconductor Systems, Nikon. They serve Government (military etc), Retail & Consumer Goods, Telecommunication, Manufacturing, BFSI (Banks etc)… And they sell equipment, which most people have not heard of: KrF, I-Line, ArF Dry, EUV, ArF Immersion, etc.

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C. News Index______________________________________________

ee News Index provides headlines & links to make sense of the weekly focus of published English ‘business news’ to expose the backwardness of multinational, corporate 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 (machine-making) industrialization fueled by a producer culture.

• The International Plot to Force Sri Lanka into the US Trap is Thickening – Tissa Vitarana

– island.lk/the-international-plot-to-force-sri-lanka-into-the-usas-trap-is-thickening/

• Background to the Coup d’état Conspiracy of 1962 – Jeyaraj

‘The phrases “Politicisation of the military” and “Militarization of Politics” are very much in vogue’

– dailymirror.lk/dbs-jeyaraj-column/Background-to-the-Coup-d%C3%A9tat-conspiracy-of-1962/192-229148

• Post-war foreign relations: A diplomatic quagmire for Lanka

‘The Chinese entry into Sri Lanka and the gradual expansion of its role here should be examined against the backdrop of Indian-funded terrorism project that destabilised the entire country’

– island.lk/post-war-foreign-relations-a-diplomatic-quagmire-for-lanka/

• Don’t sell the Trinco Oil Tank Farm – Ranjith Weerasinghe

– sundaytimes.lk/220109/business-times/dont-sell-the-trinco-oil-tank-farm-468101.html

• India eyeing to construct shortest route to Trincomalee from Dhanushkodi: Hadunnetti

 – dailymirror.lk/breaking_news/India-eyeing-to-construct-shortest-route-to-Trincomalee-from-Dhanushkodi-Hadunnetti/108-228925

• Elle Gunawansa & Bengamuwe Nalaka Thera go before SC against Trinco Oil Tank agreement

– dailymirror.lk/breaking_news/Elle-Gunawansa-Thera-Bengamuwe-Nalaka-Thera-go-before-SC-against-Trinco-Oil-Tank-farm-agreement/108-228918

• Counsel Egalahewa tells Supreme Court why three ministers opposed Yugadanavi deal

– island.lk/counsel-egalahewa-explains-to-sc-why-three-ministers-opposed-yugadanavi-deal/

• Proposed Sampur coal plant is India’s target to consolidate its grip around Trincomalee.

– sundaytimes.lk/220109/editorial/debt-trapped-between-two-jostling-friends-468551.html

• Federation of National Organisations calls for probe on Trinco Oil Tank Farm deal with India

– island.lk/fno-calls-for-full-and-thorough-probe-into-trinco-oil-tank-farm-deal-with-india/

• Tank farm deal and Newspeak

– island.lk/tank-farm-deal-and-newspeak

– ft.lk/business/New-deal-on-Trinco-oil-tanks-publicised/34-729043

• Don’t sell the Trinco Oil Tank Farm – Ranjith Weerasinghe

‘ What is LIOC doing with 99 tanks when there is no valid agreement with them to lease? Why can’t the government totally cancel or remove the unwritten agreements to lease the tanks to LIOC?’

– sundaytimes.lk/220109/business-times/dont-sell-the-trinco-oil-tank-farm-468101.html

• Envoy says no third party can derail stronger China-Lanka ties

– sundaytimes.lk/220109/news/wangs-visit-to-strengthen-china-lanka-ties-468585.html

– sundaytimes.lk/220109/news/chinas-foreign-minister-to-meet-president-and-pm-today-468579.html

– ft.lk/front-page/Envoy-says-no-third-party-can-derail-stronger-China-Lanka-ties/44-728898

– island.lk/lanka-and-china-re-affirm-special-bonds-of-friendship-between-two-nations/

– economynext.com/sri-lankan-medical-students-waiting-to-return-to-china-to-be-prioritised-wang-yi-89519/

– economynext.com/chinese-envoy-wants-defence-cooperation-with-sri-lanka-to-keep-region-stable-prosperous-89517/

– economynext.com/sri-lanka-to-get-us125mn-equivalent-grant-from-china-on-wang-yi-visit-89472/

– economynext.com/china-ready-for-new-level-in-sri-lanka-relations-expand-strategic-partnership-wang-yi-89465/

• Four govt. aid agreements signed during Chinese FM’s visit

– dailymirror.lk/breaking_news/Four-govt-aid-agreements-signed-during-Chinese-FMs-visit/108-228750

• Sri Lanka’s Jaffna is not the south of a third country: China envoy

– economynext.com/sri-lankas-jaffna-is-not-the-south-of-a-third-country-china-envoy-89564/

• Repetition of war crime allegations should be prevented – Sajith

 – dailymirror.lk/breaking_news/Repetition-of-war-crime-allegations-should-be-prevented-Sajith/108-229152

• Indian Origin Tamils and Muslims refused to ink Tamils’ joint letter to Indian PM

– lankaweb.com/news/items/2022/01/09/indian-origin-tamils-and-muslims-refused-to-ink-tamils-joint-letter-to-indian-pm/

• UN SLAP – Sri Lanka accountability project

– ft.lk/columns/Geneva-and-the-accountability-SLAP/4-729161

• Taliban’s Afghanistan-South Asian perspective – Gagan Bulathsinghala

– dailymirror.lk/plus/Talibans-Afghanistan-South-Asian-perspective/352-228781

• The missionary position: When perpetrator pretends to be victim

– lankaweb.com/news/items/2022/01/10/the-missionary-position-when-perpetrator-pretends-to-be-victim/

• Border killings: detrimental to the India-Bangladesh bilateral ties?

 – lankaweb.com/news/items/2022/01/12/border-killings-detrimental-to-the-india-bangladesh-bilateral-ties/

• Is the US right in sanctioning RAB in Bangladesh?

– lankaweb.com/news/items/2022/01/13/is-the-us-right-in-sanctioning-rab-in-bangladesh/

• Roadside bomb attacks hit U.S. military trucks in separate areas in Iraq

– radiohc.cu/en/noticias/internacionales/282478-roadside-bomb-attacks-hit-us-military-trucks-in-separate-areas-in-iraq

• U.S. sets up refinery in Syria’s Hasakah to increase country’s oil theft

– radiohc.cu/en/noticias/internacionales/282345-us-sets-up-refinery-in-syrias-hasakah-to-increase-countrys-oil-theft

• US War Lobby Fuels Conflict in Russia, Ukraine, and Syria: Ex-Pentagon Advisor

 – blackagendareport.com/us-war-lobby-fuels-conflict-russia-ukraine-and-syria-ex-pentagon-advisor

• Turkey draws closer to the US and Europe

‘The nexus between nationalists and mafia elements in Turkey and Kazakhstan is an open secret’

– indianpunchline.com/turkey-draws-closer-to-the-us-and-europe/

• CSTO in Kazakhstan annoys US

‘CSTO member countries (Russia, Belarus, Armenia, Kazakhstan, Kyrgyzstan and Tajikistan) adopted a formal resolution on the decision to deploy troops.’

– indianpunchline.com/csto-in-kazakhstan-annoys-us/

• Kazakhstan turns into graveyard for US diplomacy

‘a discernible pattern of the network of Pentagon f biological weapons labs being located near the borders of Russia and China’

– indianpunchline.com/kazakhstan-turns-into-graveyard-for-us-diplomacy/

• Mysteries Of The Failed Rebellion In Kazakhstan

‘a CIA operation may have been outsourced to England’s MI6’

– moonofalabama.org/2022/01/mysteries-of-the-failed-rebellion-in-kazakhstan

• Putin draws the line for colour revolutions

’16,000 NGOs are operating in Kazakhstan and many are known to be funded by US organisations

– indianpunchline.com/putin-draws-the-line-for-colour-revolutions/

• CSTO’s mission accomplished in Kazakhstan

– indianpunchline.com/cstos-mission-accomplished-in-kazakhstan/

• The Russia-U.S. Talks In Geneva Are Likely To Fail

– moonofalabama.org/2022/01/the-russia-us-talks-in-geneva-are-likely-to-fail

• With No Progress In Talks Russia Will Have To React

 – moonofalabama.org/2022/01/with-no-progress-in-talks-russia-will-have-to-react.html

• The Failure Of This Week’s US-NATO-Russia Meetings Make War More Likely

– moonofalabama.org/2022/01/the-failure-of-this-weeks-us-nato-russia-meetings-make-war-more-likely.html

• Cyberattack hits Ukraine as US warns Russia could be prepping for war

– adaderana.lk/news/79886/cyberattack-hits-ukraine-as-us-warns-russia-could-be-prepping-for-war

• US ‘pleased’ with Russian arrest of ransomware hackers

– lankaweb.com/news/items/2022/01/14/us-pleased-with-russian-arrest-of-ransomware-hackers/

• Reprisal attacks in Nigeria’s Zamfara State kill 200 civilians

– radiohc.cu/en/noticias/internacionales/282379-reprisal-attacks-in-nigerias-zamfara-state-kill-200-civilians

• Former US DEA informant arrested over role in plot to assassinate Haitian president

– radiohc.cu/en/noticias/internacionales/282503-former-dea-informant-arrested-over-role-in-plot-to-assassinate-haitian-president

• The Long History Of Anti-Haitianism In The Dominican Republic

 – blackagendareport.com/long-history-anti-haitianism-dominican-republic

• Nicaragua in the Multipolar World

– blackagendareport.com/nicaragua-multipolar-world

• Evo Morales points to U.S. participation in coup d’état

– radiohc.cu/en/noticias/internacionales/282642-evo-morales-points-to-us-participation-in-coup-detat

• Clyde Bellecourt, founder of American Indian Movement, dies at 85

 – radiohc.cu/en/noticias/internacionales/282636-clyde-bellecourt-founder-of-american-indian-movement-dies-at-85

• USA’s Bombing Wars Remain Hidden from its Citizens

– blackagendareport.com/us-bombing-wars-remain-hidden-american-people

________________________________________________________________

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.

• Who Insults Our War Heroes the Most?

– lankaweb.com/news/items/2022/01/10/who-insults-our-war-heroes-the-most/

• Maskless foreign tourists openly flout COVID rules

– timesonline.lk/news-online/Maskless-foreign-tourists-openly-flout-COVID-rules/2-1136447

• BASL concerned about impact of economic crisis on rule of law and democracy

– island.lk/basl-concerned-about-impact-of-economic-crisis-on-rule-of-law-and-democracy

– newsfirst.lk/2022/01/14/looming-economic-crisis-could-impact-rule-of-law-and-democracy-basl/

• LTTE intel operative had close ties with Angoda Lokka – Report

– newsfirst.lk/2022/01/12/ltte-intel-operative-had-close-ties-with-angoda-lokka-report/

– island.lk/former-ltte-intelligence-operative-had-close-links-with-sri-lankan-underworld-don-angoda-lokka-the-hindu/

• INTERPOL launches ‘Operation Flycatcher’ to disrupt Sri Lanka’s terrorist networks

 ‘funded by the European Union and jointly implemented with the UN Office on Drugs and Crime’

– adaderana.lk/news/79814/interpol-launches-operation-flycatcher-to-disrupt-sri-lankas-terrorist-networks

• Sri Lanka Police responds to Cardinal on Easter Attacks concerns

– newsfirst.lk/2022/01/11/sri-lanka-police-responds-to-cardinal-on-easter-attacks-concerns/

• Take action against former President, Prime Minister: Cardinal

– dailymirror.lk/latest_news/Take-action-against-former-President-Prime-Minister-Cardinal/342-229066

• Grenade inside church: Cardinal challenges police version of incident

– island.lk/grenade-inside-church-cardinal-challenges-police-version-of-incident/

– economynext.com/grenade-found-in-sri-lanka-church-cardinal-sceptical-of-police-probe-89634

– newsfirst.lk/2022/01/14/all-connected-to-hand-grenade-case-will-be-arrested-igp/

 • 1,000 Days since Easter Attacks: Cardinal says attacks a conspiracy for political gains

– newsfirst.lk/2022/01/14/1000-days-since-easter-attacks-cardinal-says-attacks-a-conspiracy-for-political-gains/

– island.lk/confusion-worse-confounded-2/

• Cardinal alleges of unrest after Easter attacks, by those keeping Pres Polls in mind

– dailymirror.lk/latest_news/Cardinal-alleges-of-unrest-after-Easter-attacks-by-those-keeping-Pres-Polls-in-mind/342-229102

• Conspiracy to embarrass Govt. – Minister Sarath Weerasekara

– dailymirror.lk/breaking_news/Conspiracy-to-embarrass-Govt-Minister-Sarath-Weerasekara/108-229118

– dailymirror.lk/breaking_news/Probe-still-at-early-stage-all-those-involved-will-be-arrested-soon-IGP/108-229107

– dailymirror.lk/latest_news/Police-never-harass-people-in-the-church-Weerasekara/342-229105

– island.lk/govt-sees-conspiracy-behind-grenade-found-in-church/

• Govt. using fake attempts to fulfill its political objectives: NPP

– dailymirror.lk/breaking_news/Govt-using-fake-attempts-to-fulfill-its-political-objectives-NPP/108-229111

• Sirisena Admits concealing evidence from PCoI?

– island.lk/admission-of-concealing-evidence-from-pcoi/

• Former Jamaat-e-Islami chief released on bail in Sri Lanka

 – dailymirror.lk/breaking_news/Former-Jamaat-e-Islami-chief-released-on-bail-in-Sri-Lanka/108-228932

• Human Rights Commission asks police not to interfere with people’s freedom of expression

– island.lk/warning-over-public-comments-explanation-sought-from-police/

• Public Security Minister vows to keep out political interference in police work

– island.lk/public-security-minister-vows-to-keep-out-political-interference-in-police-work

• India launches special Hindi language course for Sri Lanka Police

‘Hindi is being taught in about 10 universities and 80 government schools in Sri Lanka’

– island.lk/india-launches-special-hindi-language-course-for-sri-lanka-police/

• Two Indian prisoners sentenced to life, to be extradited to India

– dailymirror.lk/breaking_news/Two-Indian-prisoners-sentenced-to-life-to-be-extradited-to-India/108-228833

• Bodies of three unidentified men found in Colombo

– island.lk/bodies-of-three-unidentified-men-found-in-colombo/

– economynext.com/sri-lanka-police-identify-two-out-of-three-bodies-found-in-one-day-89582

• First woman to commit suicide by jumping from CID building

‘the deceased had established a foundation that purported to help Sri Lankan women who needed loans. She would then use fake identities and forged documents in order to obtain bigger loan amounts from the National Mortgage Bank on behalf of those who joined her foundation’

– island.lk/female-suspect-dies-after-allegedly-jumping-from-cid-fifth-floor/

– dailymirror.lk/breaking_news/Woman-commits-suicide-after-jumping-from-CID-building/108-228796

• Welikada killings: Prisons Chief sentenced to death, IP acquitted

 – dailymirror.lk/breaking_news/Emil-Ranjan-sentenced-to-death-Rangajeewa-acquitted/108-228923

– island.lk/welikada-killings-prisons-chief-sentenced-to-death-ip-acquitted/

– newsfirst.lk/2022/01/12/welikada-prison-riots-ex-prisons-commissioner-sentenced-to-death/

• Saliya Pieris PC re-elected uncontested as BASL President

– dailymirror.lk/latest_news/Saliya-Pieris-PC-re-elected-uncontested-as-BASL-President/342-228840

• Two Spas in Colombo robbed in one day

– newsfirst.lk/2022/01/13/two-spas-in-colombo-robbed-in-one-day/

• SLAF earned USD 6 mn in 2021 on UN Missions – Air Marshal Sudarshana Pathirana

– island.lk/slaf-earned-usd-6-mn-in-2021-air-marshal-sudarshana-pathirana/

• Retired DIG’s Anguish & The Pistol

– lankaweb.com/news/items/2022/01/12/retired-digs-anguish/

• 1957 Adeline Vitharana murder case and the hawk-eyed inspector

– sundaytimes.lk/220109/sunday-times-2/1957-adeline-vitharana-murder-case-and-the-hawk-eyed-inspector-468350.html

• Role of RAB In Maintaining Peace, Harmony, Law, and Counter-terrorism In Bangladesh

– lankaweb.com/news/items/2022/01/09/role-of-bangladeshs-rab-in-maintaining-peace-harmony-law-and-counter-terrorism-in-bangladesh/

• SL condemns hijacking of UAE flag cargo ship

– dailymirror.lk/latest_news/SL-condemns-hijacking-of-UAE-flag-cargo-ship/342-229090

• The ‘Forever Prisoners’ of Guantanamo is 20 years old.

– newsclick.in/the-forever-prisoners-guantanamo

• New Legal Filing in Mumia’s Case

 – blackagendareport.com/new-legal-filing-mumias-case

• Scotland has the highest jail population per capita in all of Western Europe

– craigmurray.org.uk/

• U.S. Navy to stop operations at Hawaiian fuel facility that sickened military families

– radiohc.cu/en/noticias/internacionales/282687-us-navy-to-stop-operations-at-hawaiian-fuel-facility-that-sickened-military-families

 • Biden deploys military teams to hospitals overwhelmed by COVID-19 patients

– radiohc.cu/en/noticias/internacionales/282757-biden-deploys-military-teams-to-hospitals-overwhelmed-by-covid-19-patients

• Smart guns finally arriving in U.S., seeking to shake up firearms market

– adaderana.lk/technology/79808/smart-guns-finally-arriving-in-us-seeking-to-shake-up-firearms-market

_____________________________________________________________

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 a modern industrial country.

• DEW: Rs. 229 bn relief package will lead to printing more money

‘nothing but a political strategy to revive the waning popularity of the government… even if printing money caused inflation, the government could have achieved positive results if the total amount was used to increase domestic production’

– island.lk/dew-rs-229-bn-relief-package-will-lead-to-printing-more-money/

• Controversial Dr. PBJ bids farewell to Presidential Secretary post

– timesonline.lk/news-online/Controversial-Dr-PBJ-bids-farewell-to-Presidential-Secretary-post/2-1136493

• Sri Lanka economists tell government to default on bond, buy food

– asia.nikkei.com/Economy/Sri-Lanka-economists-tell-government-to-default-on-bond-buy-food

• Under IMF programme SL’s ISB stock tripled to US$15bn – Cabraal

– dailymirror.lk/business-news/Cabraal-takes-swipe-at-those-advocating-debt-default-reiterates-his-stance-on-not-seeking-IMF-support/273-228816

• SLES 2021: SESSION 2 — Setting the Macro Foundation for Growth, Dec 16, 2021

– youtube.com/watch?v=wxXAcdZsFSc

• A Case for Feasibility Studies and Venture Capital – Sugath Kulatunga

– lankaweb.com/news/items/2022/01/08/a-case-for-feasibility-studies-and-venture-capital/

• Economic recovery; the IMF, SOE reforms and Sri Lanka’s options – Tennakoon

– ft.lk/columns/Economic-recovery-the-IMF-SOE-reforms-and-Sri-Lanka-s-options/4-728975

• National Science Foundation brief on COVID-19 pandemic – Wijewardena

‘health, mental health and wellbeing, economy, environment, society and education, building resilience, governance, supply chain, and research and inventions’

– ft.lk/columns/COVID-19-pandemic-A-brief-to-Sri-Lanka-s-authorities-by-the-scientific-community/4-728945

• Leaders of Ceylon Chamber, top economists speak out on forex crisis

‘Chorus growing for deferment of foreign debt repayment via urgent restructuring and use existing scarce resources for essential goods and drugs …allow the use of inflows of forex’

– ft.lk/business/Leaders-of-Ceylon-Chamber-top-economists-speak-out-on-forex-crisis/34-728960

• Sri Lanka’s Top Economists demand USD 500 Mn ISB settlement be stopped

– newsfirst.lk/2022/01/11/sri-lankas-top-economists-demand-usd-500-mn-isb-settlement-be-stopped/

• Opposition tells govt. to present debt repayment plan amid rating downgrades

– dailymirror.lk/business-news/Opposition-tells-govt-to-present-debt-repayment-plan-amid-rating-downgrades/273-229058

• Should Sri Lanka default on 18 Jan. sovereign bond?

– ft.lk/columns/Should-Sri-Lanka-default-on-18-Jan-sovereign-bond/4-729053

• IMF may be a Shylock, but Lanka should do what is right – Izzadeen

– dailymirror.lk/opinion/IMF-may-be-a-Shylock-but-Lanka-should-do-what-is-right/172-229041

• Nivard tweets rebuttal at dissenting business leaders, economists

“The individuals who screamed that Sri Lanka wouldn’t be able to pay the $ 500 million ISB maturity on 22 January are now screaming that we shouldn’t pay it when we are ready to make payment.”

– ft.lk/front-page/Nivard-tweets-rebuttal-at-dissenting-business-leaders-economists/44-729022

– ft.lk/top-story/Nivard-rules-out-debt-default/26-729130

• CB to unveil new 9-month programme to boost confidence

‘Plans to reduce ISBs to US $ 10bn and grow economy to US$100bn’

– dailymirror.lk/business-news/CB-to-unveil-new-9-month-programme-to-boost-confidence/273-228991

• Sri Lanka watching inflation, borrowing program not changed: CB Governor

– economynext.com/sri-lanka-watching-inflation-borrowing-program-not-changed-cb-governor-89566/

• Sri Lanka says no to IMF bailout, seeks new China loan

 – ft.lk/front-page/Sri-Lanka-says-no-to-IMF-bailout-seeks-new-China-loan/44-729128

• Debt, Celebrations & China – Nalin de Silva

– kalaya.org/?p=4906

• Dollar Crisis & Western Springs – Nalin de Silva

– kalaya.org/?p=4910

• Do not doubt that Sri Lanka can be built: AKD

– newsfirst.lk/2022/01/13/do-not-doubt-that-sri-lanka-can-be-built-akd

• Failure to Launch: Leninism and the NPP Manifesto – Kusum Wijetilleke

 – island.lk/failure-to-launch-leninism-and-the-npp-manifesto/

• Will severe hardships and economic crises persist this year too? – Sanderatne

– sundaytimes.lk/220109/columns/will-severe-hardships-and-economic-crises-persist-this-year-too-468365.html

• Undertake comprehensive and continuous reforms for export growth – Abeyratne

– sundaytimes.lk/220109/business-times/not-for-a-few-dollars-more-468116.html

• Sri Lanka needs corrective economic package: Wijewardena

‘foreign banks tightened lines and restricted packing credit for shipment even without default’

– economynext.com/sri-lanka-needs-corrective-economic-package-wijewardena-89454/

• Mega SWAP facilities could push Sri Lanka to a more severe debt trap: Dr. W. A Wijewardena

– dailymirror.lk/opinion/Mega-SWAP-facilities-could-push-Sri-Lanka-to-a-more-severe-debt-trap-Dr-W-A-Wijewardena/231-228849

• Govt. must approach IMF with two conditions – Dhammika Perera

‘retaining tax concessions for new investments and pursuing a managed float of the rupee…’

– ft.lk/front-page/Dhammika-s-Magnificent-7-for-forex-boost/44-728902

• Chinese envoy confident of Sri Lanka overcoming economic crisis

– economynext.com/chinese-envoy-confident-of-sri-lanka-overcoming-economic-crisis-89452/

• What Happens When Countries Do Not Pay Back Their Debt?

 – lankaweb.com/news/items/2022/01/11/what-happens-when-countries-do-not-pay-back-their-debt/

• Sri Lanka should start talks with the IMF – Wignaraja

– ft.lk/columns/Will-China-rescue-Sri-Lanka-s-economy-in-2022/4-729054

• Sri Lanka’s Sovereign Foreign Debt: to restructure or not? – Weerakoon

‘A default is inherently costly as it can result in a sustained loss of access to capital markets’

– island.lk/sri-lankas-sovereign-foreign-debt-to-restructure-or-not/

– ft.lk/columns/Sri-Lanka-s-sovereign-foreign-debt-To-restructure-or-not/4-729157

• Debt restructuring and a path to confidence and hope – M. Udara Peries

 – ft.lk/columns/Debt-restructuring-and-a-path-to-confidence-and-hope/4-729158

• Sri Lanka: How Does A Country Restructure Its External Debt?

– lankaweb.com/news/items/2022/01/14/sri-lanka-how-does-a-country-restructure-its-external-debt/

• Moody’s says relief package supports economic recovery but compounds fiscal challenge

– ft.lk/front-page/Moody-s-says-relief-package-supports-economic-recovery-but-compounds-fiscal-challenge/44-729026

– economynext.com/sri-lanka-relief-package-may-worsen-budget-problems-moodys-89464/

– dailymirror.lk/business-news/Relief-package-could-worsen-SLs-budget-challenges-Moodys/273-228814

• S&P lowers Sri Lanka rating to ‘CCC’ citing greater sovereign default risk

– bizenglish.adaderana.lk/sp-lowers-sri-lanka-rating-to-ccc-citing-greater-sovereign-default-risk/

– ft.lk/front-page/S-P-lowers-long-term-Sri-Lanka-rating-with-negative-outlook/44-729122

– economynext.com/sp-downgrades-sri-lanka-to-ccc-outlook-negative-89593

– newsfirst.lk/2022/01/12/sp-downgrades-sri-lanka-to-ccc-outlook-negative/

• Unwarranted rating action by S&P amid arrangements to settle ISB maturity in Jan. – CBSL

 – island.lk/unwarranted-rating-action-by-sp-amid-arrangements-to-settle-isb-maturity-in-jan-2022-cbsl/

– bizenglish.adaderana.lk/unwarranted-rating-action-by-sp-amid-arrangements-to-settle-isb-maturity-in-january-2022/

– ft.lk/front-page/Govt-says-unwarranted-rating-action-by-S-P/44-729123

– economynext.com/sri-lanka-disputes-standard-and-poors-downgrade-to-ccc-89597/

– timesonline.lk/news-online/Central-Bank-frowns-on-S-P-rating-lowering-Sri-Lankas-rating/2-1136475

• Cannot expect rating agencies to hold SL in high regard: Wimal

 – newsfirst.lk/2022/01/13/cannot-expect-rating-agencies-to-hold-sl-in-high-regard-wimal/

• Rating downgrades discourage investors – JVP’s Harini Amarasuriya

– island.lk/rating-downgrades-discourage-investors-jvp/

– newsfirst.lk/2022/01/14/investors-are-discouraged-by-downgrades-dr-harini-amarasuriya

 • Sri Lanka debt pain will go from China to Wall Street

 – bizenglish.adaderana.lk/sri-lanka-debt-pain-will-go-from-china-to-wall-st/

• China’s recipe for Sri Lanka’s economic recovery

– lankaweb.com/news/items/2022/01/11/chinas-recipe-for-sri-lankas-economic-recovery/

• Sri Lanka to meet all debt repayments while rebuilding forex reserves: Central bank

– lankaweb.com/news/items/2022/01/12/sri-lanka-to-meet-all-debt-repayments-while-rebuilding-forex-reserves-central-bank/

• ‘What would you do if you were president?’, Ranil ‘s response

– newsfirst.lk/2022/01/12/what-would-you-do-if-you-were-president-ranil-s-response/

• Sri Lanka has no room to manoeuvre: A US Pathfinder Perspective

– island.lk/sri-lanka-has-no-room-to-manoeuvre-a-pathfinder-perspective/

• Crunch time just about to descend upon Sri Lanka – US Advocata

‘Repaying foreign debt or financing essential imports?.. it is in the best interest of all its citizens, for the government to defer payment of the US dollar 500 million International Sovereign Bonds’

– island.lk/crunch-time-just-about-to-descend-upon-sri-lanka/

• Repay Foreign Debt or Finance Essential Imports – US Advocata

– bizenglish.adaderana.lk/repay-foreign-debt-or-finance-essential-imports/

• Govt. urged to expedite sale of SOEs if it wants to avoid IMF – Asia Securities

– dailymirror.lk/business-news/Govt-urged-to-expedite-sale-of-SOEs-if-it-wants-to-avoid-IMF/273-229057ß

• Do not permit payment to International Sovereign Bond holders

– island.lk/lest-you-forget-your-commitments-and-accountability/

• Government should commit to an IMF programme for debt restructuring – Ranga Jayasuriya

– dailymirror.lk/opinion/Whos-benefiting-from-govts-economic-policy-at-whose-expense/231-228939

• World Bank-promoted policies of privatisation and deregulation make inequalities worse

‘A fast-spreading pandemic reduces an additional 100 million people to poverty’

– sundaytimes.lk/220109/sunday-times-2/a-fast-spreading-pandemic-reduces-an-additional-100-million-people-to-poverty-468353.html

• Sri Lanka’s doors open to the IMF – Min. Ramesh

– newsfirst.lk/2022/01/11/sri-lankas-doors-open-to-the-imf-min-ramesh/

• Sri Lanka to host Asian Development Bank Annual Meeting in Colombo

– timesonline.lk/news-online/Sri-Lanka-to-host-Asian-Development-Bank-Annual-Meeting-in-Colombo/2-1136469

• Revisiting E. Franklin Frazier’s classic sociological study Black Bourgeoisie

– blackagendareport.com/excerpt-black-bourgeoisie

• US Economics Association (ASSA)2022: Part One – The Mainstream

‘US companies are hoarding up to $3.17trn in cash and preparing to buy back even more of their own shares, while doubling mergers, rather than invest productively’

– thenextrecession.wordpress.com/2022/01/12/assa-2022-part-one-the-mainstream/

• US Economics Association (ASSA)2022: Part Two – The Heterodox

‘public investment by state enterprises would much more effective in avoiding slumps than MMT’

– thenextrecession.wordpress.com/2022/01/14/assa-2022-part-two-the-heterodox/

• IMF warns developing countries of ‘economic turbulence’

‘as US Federal Reserve prepares to raise interest rates & world economic growth slows due to Omicron’

– ft.lk/front-page/IMF-warns-developing-countries-of-economic-turbulence/44-729025

• How is Money Created? – Everything You Need to Know

– lankaweb.com/news/items/2022/01/11/how-is-money-created-everything-you-need-to-know/

• World Bank sees sharp world growth slowdown, ’hard landing’ risk for poorer nations

– dailymirror.lk/business_247/WB-sees-sharp-world-growth-slowdown-hard-landing-risk-for-poorer-nations/395-228856

• World Bank demands faster G20 debt relief as poor nations squeezed

– ft.lk/front-page/World-Bank-demands-faster-G20-debt-relief-as-poor-nations-squeezed/44-729129

• Gourinchas new Chief Economist at IMF

– dailymirror.lk/business-news/Pierre-Olivier-Gourinchas-new-Chief-Economist-at-IMF/273-228885

• Economist Hudson Says US Fed Broke Law with Repo Loans to Wall Street Trading Houses

– wallstreetonparade.com/2022/01/economist-michael-hudson-says-the-fed-broke-the-law-with-its-repo-loans-to-wall-street-trading-houses/

• Economist Hudson explains inflation crisis and Fed’s secretive $4.5 trillion bank bailout

 – benjaminnorton.substack.com/p/economist-michael-hudson-explains

____________________________________________

C4. Economy (Usually reported in monetary terms)

ee Economy section shows how media usually measures economy by false indices like GDP, etc., in monetary terms, confusing money and capital, constantly calling for privatization, deregulation, moaning about debt & balance of payments, without stating the need for modern industrial production.

• Canada warns its citizens over Sri Lanka’s worsening economic situation

– newsfirst.lk/2022/01/15/canada-warns-its-citizens-over-sri-lankas-worsening-economic-situation/

• Pack of essential items at Rs. 3998 via Sathosa: Minister

– newsfirst.lk/2022/01/15/pack-of-essential-items-at-rs-3998-via-sathosa-minister/

• Nestle Lanka opts for US$ 45mn inter group loan to secure this year’s forex requirements

‘Nestle Lanka, local unit of the Swiss food giant, is to borrow US$ 45 million from Nestle Treasury’

– dailymirror.lk/business-news/Nestle-Lanka-opts-for-US-45mn-inter-group-loan-to-secure-this-years-forex-requirements/273-229061

• US inflation hits 40 year high as Sri Lanka prices soar

– economynext.com/us-inflation-hits-40-year-high-as-sri-lanka-prices-soar-89598/

• Sri Lanka expects to grow 5.5-pct in 2022: CB Governor

 – economynext.com/sri-lanka-expects-to-grow-5-5-pct-in-2022-cb-governor-89601/

• This year’s first monetary policy announcement on Jan. 20

– dailymirror.lk/business-news/This-years-first-monetary-policy-announcement-on-Jan-20/273-228815

• ADB keen to support restructuring of State-Owned Enterprises of Sri Lanka

– ft.lk/business/ADB-keen-to-support-restructuring-of-State-Owned-Enterprises-of-Sri-Lanka/34-729010

• Top Emerging-Market Bond Fund Bets on Sri Lanka Default Gain

– bloomberg.com/news/articles/2022-01-09/top-emerging-market-bond-fund-sees-sri-lanka-default-windfall

– dailymirror.lk/business-news/Top-emerging-market-bond-fund-bets-on-Sri-Lanka-default-windfall/273-228817

• India banks slash packing credit for Sri Lanka shipments, cuts risk limits

‘One of the biggest hits that a country gets from default is on the import trade as foreign suppliers

avoid shipping goods over payment fears or demand prepayment’

– economynext.com/india-banks-slash-packing-credit-for-sri-lanka-shipments-cuts-risk-limits-89440/

• Sri Lanka will have “no default, disorderly or otherwise”: CB Governor

– economynext.com/sri-lanka-will-have-no-default-disorderly-or-otherwise-cb-governor-89441/

• SL draws down Chinese swap to close 2021 with US$ 3.1bn foreign currency reserves

– dailymirror.lk/business-news/SL-draws-down-Chinese-swap-to-close-2021-with-US-3-1bn-foreign-currency-reserves/273-228688

• Sri Lanka seeks debt relief, import credit from China

– dailymirror.lk/business-news/Sri-Lanka-seeks-debt-relief-import-credit-from-China/273-228691

• Sri Lanka may get new loan to make repayments to China: CB Governor

– economynext.com/sri-lanka-may-get-new-loan-to-make-repayments-to-china-cb-governor-89572/

• China’s 10bn yuan swap with Sri Lanka is “unique”, says envoy

– economynext.com/chinas-10bn-yuan-swap-with-sri-lanka-is-unique-says-envoy-89460/

• Nothing unusual about China’s 800mn yuan grant to Sri Lanka: minister

 – economynext.com/nothing-unusual-about-chinas-800mn-yuan-grant-to-sri-lanka-minister-89556

• China to revise Lankan loans repayment schedules

– lankaweb.com/news/items/2022/01/12/china-to-revise-lankan-loans-repayment-schedules/

– lankaweb.com/news/items/2022/01/12/china-to-revise-sri-lankan-loans-repayment-schedules-oped/

• Sri Lanka rules out IMF bailout, seeks new China loan

– lankaweb.com/news/items/2022/01/12/sri-lanka-rules-out-imf-bailout-seeks-new-china-loan/

• SL seeks US $ 500 million loan from Asian Infrastructure Investment Bank (AIIB)

 – dailymirror.lk/breaking_news/SL-seeks-US-500-million-loan-from-AIIB/108-229120

• Sri Lanka seeks 1 billion dollar loan from India

– lankaweb.com/news/items/2022/01/12/sri-lanka-seeks-1-billion-dollar-loan-from-india/

• India confirms SAARC currency swap up to US$ 400mn

– dailymirror.lk/business-news/India-confirms-SAARC-currency-swap-up-to-US-400mn/273-229063

• Indian HC confirms extension of USD 900 Mn financial facility to SL

– dailymirror.lk/breaking_news/Indian-HC-confirms-extension-of-USD-900-Mn-financial-facility-to-SL/108-229014

– island.lk/india-extends-usd-900-mn-facilities-as-sri-lanka-struggles-to-repay-loans/

– ft.lk/front-page/India-extends-critical-forex-support-of-over-900-m-to-SL/44-729135

– economynext.com/india-backs-sri-lanka-with-us900mn-in-deferred-payments-swap-89609/

– dailymirror.lk/breaking_news/More-financial-cooperation-from-India-on-the-way/108-229121

• Euro 52 mn Hungarian loan for infrastructure development

– island.lk/euro-52-mn-hungarian-loan-for-infrastructure-development/

– ft.lk/front-page/Sri-Lanka-Hungary-renew-commitment-to-boost-bilateral-ties/44-729136

• Sri Lanka US$6.9bn fx debt service in 2022, 39% owed to domestic holders

 – economynext.com/sri-lanka-us6-9bn-fx-debt-service-in-2022-39-pct-owed-to-domestic-holders-89602/

• Central Bank sells gold worth US$ 206mn to shore up reserves

– sundaytimes.lk/220109/news/central-bank-sells-gold-worth-us-206mn-to-shore-up-reserves-468576.html

– dailymirror.lk/business-news/Central-Bank-sells-down-gold-reserves-to-boost-liquid-forex-reserves/273-228695

• CBSL clarifies composition of official reserve position and gold holdings

– ft.lk/front-page/CBSL-clarifies-composition-of-official-reserve-position-and-gold-holdings/44-729023

– economynext.com/sri-lanka-gold-sales-to-boost-liquid-assets-central-bank-89524/

– island.lk/drastic-drop-in-gold-reserves-cb-clarifies/

• Treasury to directly collect Special GST and VAT

– sundaytimes.lk/220109/news/treasury-to-directly-collect-special-gst-and-vat-468581.html

• CB requests two state banks to curtail LCs

– sundaytimes.lk/220109/business-times/cb-requests-two-state-banks-to-curtail-lcs-468170.html

• Sri Lanka sells Rs40bn in 3 to 9-year bonds

– economynext.com/sri-lanka-sells-rs40bn-in-3-to-9-year-bonds-89558/

• Sri Lanka bond yields close flat

 – economynext.com/sri-lanka-bond-yields-close-flat-89630

• Monetary and fiscal policies in SA could stay largely accommodative through 2022: WB

– dailymirror.lk/business-news/Monetary-and-fiscal-policies-in-SA-could-stay-largely-accommodative-through-2022-WB/273-229062

• Vietnam’s 2021 exports climb 19%, record trade surplus with US

– ft.lk/front-page/Vietnam-s-2021-exports-climb-19-record-trade-surplus-with-US/44-729141

• Turkey Orders Exporters to Convert 25% of Income to Liras

– bloomberg.com/news/articles/2022-01-03/turkey-orders-exporters-to-convert-25-of-income-to-liras

• U.S. consumer prices see sharpest surge since 1982

– radiohc.cu/en/noticias/internacionales/282591-us-consumer-prices-see-sharpest-surge-since-1982

• Global food prices dip in December

– ft.lk/front-page/Global-food-prices-dip-in-December/44-729143

• The City of London Dodges Brexit Bullet — For Now

‘London remains the world’s second-biggest financial center behind New York when infrastructure, reputation and business environment are taken into account’

– newsclick.in/the-city-london-dodges-brexit-bullet-now

_________________________________________________________________________

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

• Plantation companies turn down govt. request for Rs 5,000 salary increase

– island.lk/plantation-companies-turn-down-govt-request-for-rs-5000-salary-increase/

– dailymirror.lk/business-news/Plantation-companies-also-say-unable-to-pay-Rs-5-000-allowance/273-228881

– island.lk/plantation-companies-turn-down-govt-request-for-rs-5000-salary-increase-2/

 • Station Masters’ Union began a 24-hour token strike

– dailymirror.lk/top_story/Station-Masters-Union-began-a-24-hour-token-strike-from-last-night/155-228935

– newsfirst.lk/2022/01/13/what-is-the-reason-for-the-unexpected-token-strike-station-masters-union-chairman-explains/

– dailymirror.lk/latest_news/Station-Masters-Union-on-strike-again/342-229098

• ‘Meenagaya’ intercity express train attacked at Kekirawa station

– dailymirror.lk/latest_news/Meenagaya-intercity-express-train-attacked-at-Kekirawa-station/342-229004

– dailymirror.lk/latest_news/Podi-Menike-couldnt-proceed-beyond-Kotagala/342-229103

• Station master’s strike: Irate railway commuters take it out on trains

– island.lk/station-masters-strike-irate-railway-commuters-take-it-out-on-trains/

• Police OICs put in charge of protecting train stations

– newsfirst.lk/2022/01/14/police-oics-put-in-charge-of-protecting-train-stations/

• Union member reinstated; railway strike called off

– dailymirror.lk/breaking_news/Train-strike-called-off/108-229108

– island.lk/union-member-reinstated-railway-strike-called-off/

• CEB senior engineers ask Chairman to honour Appeal Court decision, appointing Ranatunga GM temporarily

– island.lk/ceb-senior-engineers-ask-chairman-to-honour-appeal-court-decision-appointing-ranatunga-gm-temporarily/

• Principals’ Union holds protest in Battaramulla

– timesonline.lk/news-online/Principals-Union-holds-protest-in-Battaramulla/2-1136471

• Teacher-Principal service declared closed service

– newsfirst.lk/2022/01/15/teacher-principal-service-declared-closed-service/

• Flight Attendants’ Union requests SriLankan Airlines to provide cabin crew meal

– newsfirst.lk/2022/01/14/flight-attendants-union-requests-srilankan-airlines-to-provide-cabin-crew-meal/

• Staff Revolt at Employers’ Federation

‘Established to deal with trade unions, providing advisory services; and representing its 700-odd members at Labour Tribunals and meetings with the Commissioner General of Labour.’

– sundaytimes.lk/220109/business-times/employers-federation-comes-out-of-the-woods-468113.html

• Garment owners faced false accusations that workers not paid and laid off by the thousands

– island.lk/a-new-vision-to-help-sri-lankan-apparel-rise-to-the-challenges-of-2022/

– bizenglish.adaderana.lk/a-new-vision-to-help-sri-lankan-apparel-rise-to-the-challenges-of-2022/

• Dulitha Perera takes over as President of Organisation of Professional Associations

– ft.lk/business/Dulitha-Perera-takes-over-as-41st-President-of-OPA-Sri-Lanka/34-728905

• Freelance divers go to shallow depths off the coast to catch lobsters to supply star class hotels

– island.lk/unlucky-diver-may-have-got-too-close-to-croc-in-sea-say-environmentalists/

• Relatives accuse navy after fisherman dies in boat accident

 – timesonline.lk/news-online/Relatives-accuse-navy-after-fisherman-dies-in-boat-accident/2-1136458

• Holidaying families cautioned about deadly dips in the water

‘312 died in the first six months of last year, while in 2020 there were 701 deaths from drowning in the sea and inland waterways’

– sundaytimes.lk/220109/news/holidaying-families-cautioned-about-deadly-dips-in-the-water-468566.html

• Remittances record in 2020 as many workers sending more money to families due to pandemic

– sundaytimes.lk/220109/business-times/rising-inflation-468121.html

• Sri Lanka foreign remittances 60-pct in December 2022

 – economynext.com/sri-lanka-foreign-remittances-60-pct-in-december-2022-89632/

– newsfirst.lk/2022/01/14/worker-remittances-in-december-2021-record-60-drop-against-dec-2020/

• Quota for Lankans employed in South Korea to be increased

– newsfirst.lk/2022/01/14/quota-for-lankans-employed-in-south-korea-to-be-increased/

• SL soon to have improved access to employment in England’s healthcare sector

 – dailymirror.lk/breaking_news/SL-soon-to-have-improved-access-to-employment-in-UKs-healthcare-sector/108-228895

• Sri Lanka to launch housing pilot project for low income groups; to be paid in installments

– economynext.com/sri-lanka-to-launch-housing-pilot-project-for-low-income-groups-to-be-paid-in-installments-89568/

• Plight of pensionless senior citizens

– sundaytimes.lk/220109/plus/letters-to-the-editor-3-468056.html

• IUSF demands reopening of all state universities

– timesonline.lk/news-online/In-Pictures-IUSF-demands-reopening-of-all-state-universities/2-1136452

• H.D. Karunaratne appointed VC of Colombo Uni.

– dailymirror.lk/breaking_news/H-D-Karunaratne-appointed-VC-of-Colombo-Uni/108-228910

• A Bibliography of Sri Lankan Surgical Research

– sundaytimes.lk/220109/plus/senior-surgeons-herculean-effort-to-foster-research-culture-468046.html

• History and Purpose of National Institute of Fundamental Studies

 – island.lk/history-and-purpose-of-national-institute-of-fundamental-studies/

• Sail Lanka Yachting Group to replicate successful marine training project in North Sri Lanka

– island.lk/sail-lanka-yachting-group-to-replicate-successful-marine-training-project-in-north-sri-lanka/

• The Chancellor Thero and various Brahmins – Nalin de Silva

 – www1.kalaya.org/2022/01/blog-post_12.html#more

• Is Poor Schooling the Cause of Student Tantrums in Sri Lankan Universities?

– island.lk/is-poor-schooling-the-cause-ofstudent-tantrums-in-sri-lankanuniversities/

• St. Servatius’ College Matara founded as English medium school, by Belgian Jesuits

– sundaytimes.lk/220109/plus/appreciations-2-468051.html

• Saegis offers degree under government Interest-Free Loan with assured industry placements

– island.lk/saegis-campus-offers-degree-programmes-under-the-government-ifsl-scheme-with-assured-industry-placements/

• A Surprise at the Hotel Union AGM and the End of the Era of Communist Unions in Sri Lanka

– island.lk/the-dramatic-end-part-31/

• Budding urban planners acknowledged at Sri Lanka’s first Urban Design Forum

– dailymirror.lk/news-features/Budding-urban-planners-acknowledged-at-Sri-Lankas-first-Urban-Design-Forum/131-229145

• A Falling Rate of Learning? Commodification and Neoliberal Education

– socialistproject.ca/2022/01/falling-rate-of-learning-neoliberal-education/

• More Chinese in 19thC US in sugar than railway building, ‘coolies’ paid less than ‘freed’ slaves

– theconversation.com/making-sugar-making-coolies-chinese-laborers-toiled-alongside-black-workers-on-19th-century-louisiana-plantations-173831

_________________________________________________________________________

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

ee Agriculture emphasizes the failure to industrialize an agriculture that keeps the cultivator impoverished under moneylender and merchant, and the need to develop the rural home market, monetization and commercialization, to produce, rather than import, agricultural machinery.

• At present there are about 100,000 acres of barren paddy lands

– island.lk/farmer-in-environment-minister-surfaces-in-earnest/

• JVP Leader promises future green revolution using underutilised diplomatic service

– island.lk/jvp-leader-promises-green-revolution-through-a-future-npp-govt-using-countrys-underutilised-diplomatic-service/

• Sri Lanka to import 300,000 tonnes of rice as crop loss expected

– economynext.com/sri-lanka-to-import-300000-tonnes-of-rice-as-crop-loss-expected-89531/

– themorning.lk/cabinet-approves-import-of-nadu-and-short-grain-rice/

– newsfirst.lk/2022/01/11/cabinet-approves-to-import-nadu-short-grain-rice/

– ft.lk/front-page/Govt-grapples-to-boost-food-supply/44-729035

• Private sector permitted to import rice

– themorning.lk/private-sector-permitted-to-import-rice/

• Military deployed for organic farming

‘officials were part of a “chemical mafia”, on the contrary the Army is said to be disciplined enough to carry out any task given to them and implement government policy’

– sundaytimes.lk/220109/business-times/military-deployed-for-organic-farming-2-468179.html

– ft.lk/front-page/Govt-starts-afresh-for-organic-fertiliser-for-Yala-season/44-729036

• Massive fertiliser import scam under the subsidy scheme exposed

‘Imports made by 11 fertiliser companies between February 2018 and June 2019, the audit report revealed…accurate lab reports that indicated defects in the stocks had been removed from the files of these companies and had been replaced with forged reports.’

– sundaytimes.lk/220109/business-times/massive-fertiliser-import-scam-under-the-subsidy-scheme-exposed-468173.html

• Inorganic fertilizer back in market next season; govt didn’t support ban: minister

– economynext.com/inorganic-fertilizer-back-in-market-next-season-govt-didnt-support-ban-minister-89608/

• China removes Sri Lanka state bank from blacklist after fertilizer payment

 – economynext.com/china-removes-sri-lanka-state-bank-from-blacklist-after-fertilizer-payment-89557/

• By agreeing to tests by Singapore, government undermines National Plant Protection Authority

– island.lk/throwing-good-money-after-bad/

• Sri Lanka to purchase organic fertilizer from Chinese firm sued NPQS

– economynext.com/sri-lanka-to-purchase-organic-fertilizer-from-chinese-firm-sued-npqs-89594/

• Importers wait for Trade Minister’s promised dollars to clear essential food items

– sundaytimes.lk/220109/news/importers-wait-for-trade-ministers-promised-dollars-to-clear-essential-food-items-468505.html

• If govt. fails to meet the demand for coconut, local coconut, oil prices could increase: NMCRP

‘1.8 billion nuts are needed for domestic consumption and another 1.8 billion are needed for coconut oil production. Coconuts for export is 1.3 billion. Annual coconut harvest deficit is 1.9 billion nuts. October & November coconut harvests were generally safe. The coconut harvest comes to the market in January, February and March every year. About 135,000 people depend on the industry’

– island.lk/rise-in-coconut-prices-expected/

– dailymirror.lk/breaking_news/If-govt-fail-to-meet-the-demand-for-coconut-local-coconut-oil-prices-could-increase-NMCRP/108-229009

• Aadamjee Lukmanjee’s N-Joy coconut oil uses new Fresh Dry Technology

– island.lk/n-joy-sets-industry-benchmark-with-new-fresh-dry-technology/

• Bakeries only get 50% of usual wheat flour: All Ceylon Bakery Owners’ Association

– sundaytimes.lk/220109/columns/critics-pour-cold-water-on-pinnawala-elephant-twins-bathing-circus-468569.html

• Lankan tea exports earned $ 1.3 Bn in 2021

‘Ceylon Tea is the most expensive teas in the global market – gram to gram’

– island.lk/lankan-tea-exports-earned-1-3-bn-in-2021/

– dailymirror.lk/business/Urgent-action-needed-to-boost-USP-of-Ceylon-Tea/215-228794

• Unilever Erasing Identity of Ceylon Tea

– sundaytimes.lk/220109/news/likely-five-per-cent-drop-in-sls-tea-production-for-2022-468522.html

• ‘Diversification vital for the long-term stability of the RPCs’

– island.lk/diversification-vital-for-the-long-term-stability-of-the-rpcs

– ft.lk/columns/Diversification-vital-for-the-long-term-stability-of-the-RPCs/4-729059

• Sri Lanka to relocate 42 families due to floods of Buthgamuwa canal in Jayawardenapura Kotte

– economynext.com/sri-lanka-to-relocate-42-families-affected-by-floods-89591/

• Navy brings ashore five Lankan fishermen rescued by foreign vessel

– island.lk/navy-brings-ashore-five-lankan-fishermen-rescued-by-foreign-vessel/

• Northern fishermen switch to China-backed sea cucumber boom

– island.lk/northern-fishermen-switch-to-china-backed-sea-cucumber-boom

• Livestock owner accused of branding cattle granted bail

– sundaytimes.lk/220109/news/livestock-owner-accused-of-branding-cattle-granted-bail-468524.html

• Pelwatte Dairy Industries Gross Profits almost doubled

– bizenglish.adaderana.lk/supplies-from-pelwatte-dairy-steady-despite-impact-of-lean-season-in-december/

– timesonline.lk/news-online/Pelwatte-Dairy-denies-reports-of-short-supply-says-there-was-a-lean-season-in-December/2-1136466

• Dormant Animal Welfare Bill boosted after Cher criticism of Pinnawela Elephant Orphanage?

– island.lk/dormant-animal-welfare-bill-gets-turbo-boost-after-chers-criticism-of-pinnawela-elephant-orphanage

• Elephants dying from eating plastic waste in Sri Lankan dump

– adaderana.lk/news/79891/elephants-dying-from-eating-plastic-waste-in-sri-lankan-dump

– lankaweb.com/news/items/2022/01/14/conservationists-veterinarians-warn-sri-lankan-plastic-waste-is-killing-regions-elephants/

• Amphibians going extinct in SL at a record pace

– island.lk/amphibians-going-extinct-in-sl-at-a-record-pace/

• Govt. partners with Stimson Center, Commonwealth Blue Charter on Climate Risk Rapid Assessment Project

‘supported by the England’s Blue Planet Fund through the Ocean Risk and Resilience Action Alliance (ORRAA) in partnership with the Commonwealth Secretariat’

– ft.lk/front-page/Govt-partners-with-Stimson-Center-Commonwealth-Blue-Charter-on-Climate-Risk-Rapid-Assessment-Project/44-729140

_____________________________________________________________________

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

ee Industry notes the ignorance about industrialization (versus handicraft and manufacture), the dependence on importing foreign machinery, the need to make machines that make machines, build a producer culture. False definitions of industry, entrepreneur, etc, abound, and the need for a holistic political, economic and military strategy to overcome domination by merchants and moneylenders.

• Producer prices accelerate signalling persistent troubles for manufacturers

– dailymirror.lk/business-news/Producer-prices-accelerate-signalling-persistent-troubles-for-manufacturers/273-228882

• Trade unions to protest against Trinco oil tank farm deal with India’s LIOC

– sundaytimes.lk/220109/columns/bear-it-dont-bare-it-theres-a-price-to-pay-for-dissent-468560.html

– island.lk/gaslighting/

• No queues if the oil tanks were repaired: Handunetti

– newsfirst.lk/2022/01/12/no-queues-if-the-oil-tanks-were-repaired-handunetti/

• The history of the 1962 oil takeover by the Sirima B government

– island.lk/the-history-of-the-1962-oil-takeover-by-the-sirima-b-government/

• Ceylon Petroleum Corporation’s “comedy of errors” continue

‘nationalization of the Petroleum industry which gave Singapore the entire refined crude oil market for South East Asia.’

– island.lk/ceylon-petroleum-corporations-comedy-of-errors-continue/

• CEB recommends scheduled power cuts for two and half hours daily

– sundaytimes.lk/220109/news/ceb-recommends-scheduled-power-cuts-for-two-and-half-hours-daily-468583.html

• PUCSL nod for daily power cuts from today

– ft.lk/front-page/PUCSL-nod-for-daily-power-cuts-from-today/44-728899

• Government assures uninterrupted electricity

– ft.lk/front-page/Government-assures-uninterrupted-electricity/44-729024

• CEB reverts announcement, now says no power cuts

– dailymirror.lk/breaking_news/CEB-reverts-announcement-now-says-no-power-cuts/108-228909

• Lokuge insists there are no power cuts

– island.lk/lokuge-insists-there-are-no-power-cuts/

• Sri Lanka’s CEB says Tuesday power cuts due to breakdown at Sojitz; no more interruptions

 – economynext.com/sri-lankas-ceb-says-tuesday-power-cuts-due-to-breakdown-at-sojitz-no-more-interruptions-89570/

• Experts to inspect malfunctioned generator: CEB

– newsfirst.lk/2022/01/13/experts-to-inspect-malfunctioned-generator-ceb/

• Power cuts due to inadequate diesel supply by CPC: CEB

– dailymirror.lk/latest_news/Power-cuts-due-to-inadequate-diesel-supply-by-CPC-CEB/342-229020

• CPC seeks $200 million to import fuel soon

– timesonline.lk/news-online/CPC-seeks-200-million-to-import-fuel-soon/2-1136431

• Shaky deals and misdeeds in the fuel industry

– dailymirror.lk/opinion/Shaky-deals-and-misdeeds-in-the-fuel-industry/231-228937

• Appointment of controversial CEB engineer questioned

– dailymirror.lk/news-features/Appointment-of-controversial-engineer-questioned/131-228938

• Power cuts: Engineers kept in the dark

– island.lk/power-cuts-engineers-kept-in-the-dark/

• Sri Lanka power cuts Thursday after fuel fired plants down

 – economynext.com/sri-lanka-power-cuts-thursday-after-fuel-fired-plants-down-89617/

• CPC agrees to provide 1500 MT of fuel to CEB

– newsfirst.lk/2022/01/14/cpc-agrees-to-provide-1500-mt-of-fuel-to-ceb/

– timesonline.lk/news-online/New-agreement-to-purchase-crude-oil/2-1136484

– island.lk/cpc-supplies-fuel-to-ceb-to-mitigate-power-crisis/

• Sri Lanka CPC demand end to circular debt in power amid forex crisis

– economynext.com/sri-lanka-cpc-demand-end-to-circular-debt-in-power-amid-forex-crisis-89637/

• ‘If fuel is provided, no power cuts today & tomorrow’: Minister

– newsfirst.lk/2022/01/15/if-fuel-is-provided-no-power-cuts-today-tomorrow-minister/

• Water levels in reservoirs recede, reducing hydro power capacity

– island.lk/water-levels-in-reservoirs-recede-reducing-hydro-power-capacity/

• Rs.1.5billion fuel loss from congestion in Colombo & suburbs: Private Bus Owners’ Association

– dailymirror.lk/latest_news/Rs-1-5-billion-fuel-loss-due-to-congestion-in-Colombo-and-suburbs-Gemunu/342-228725

• Crude oil prices rise amid demand recovery, supply worries

– island.lk/crude-oil-prices-rise-amid-demand-recovery-supply-worries/

• WindForce pulls out from Fairway waste-to-energy plant deal

– dailymirror.lk/business-news/WindForce-pulls-out-from-Fairway-waste-to-energy-plant-deal/273-228693

• Govt. seeks Saudi aid to uplift SriLankan and get dollars to buy fuel

– sundaytimes.lk/220109/news/govt-seeks-saudi-aid-to-uplift-srilankan-and-get-dollars-to-buy-fuel-468574.html

• Sri Lanka northern power project suspension queried by China envoy

‘Asian Development Bank-funded renewable power projects were awarded to China’s Sinosar-Etechwin in January 2020 on Nainativu, Delft (Neduntheevu), and Analaitivu close to India.’

– economynext.com/sri-lanka-northern-power-project-suspension-queried-by-china-envoy-89552/

• Gas crisis continues

– sundaytimes.lk/220109/business-times/gas-crisis-continues-468185.html

• Govt. authorises SLSI to regulate LP gas via new gazette

– ft.lk/front-page/Govt-authorises-SLSI-to-regulate-LP-gas-via-new-gazette/44-729126

• Litro calls on fresh bids for LPG for 2022/23

 – ft.lk/front-page/Litro-calls-on-fresh-bids-for-LPG-for-2022-23/44-729125

• President tours Litro Gas Terminal

– ft.lk/news/President-tours-Litro-Gas-Terminal/56-729149

• Association of Manufacturers & Exporters of Rubber Products (SLAMERP) wants Govt. to resolve forex crisis

– ft.lk/business/Rubber-products-industry-calls-on-Govt-to-resolve-forex-crisis/34-729009

• Sri Lanka Railways starts Mt Lavinia to Jaffna train with India support

– economynext.com/sri-lanka-railways-starts-mt-lavinia-to-jaffna-train-with-india-support-89450/

• Two Chinese firms take over Eastern Container Terminal project phase 2 sparking controversy

– sundaytimes.lk/220109/business-times/two-chinese-firms-take-over-ect-project-phase11-sparking-controversy-468084.html

– island.lk/china-harbour-in-ect-second-phase/

– ft.lk/front-page/President-flags-off-second-phase-of-Colombo-Port-s-ECT/44-729127

• Sri Lanka expects to complete East Container Terminal by July 2024

– economynext.com/sri-lanka-expects-to-complete-east-container-terminal-by-july-2024-89563/

• Hambantota International Port upbeat about its prospects after Lloyd’s certification

– island.lk/55469-2/

• SriLankan Airlines partners with American Airlines

– bizenglish.adaderana.lk/srilankan-airlines-partners-with-american-airlines-to-enhance-connectivity-across-north-america-and-europe/

• Crash landing of private aircraft: MD, Chief Engineer of Sakurai Aviation arrested

– dailymirror.lk/breaking_news/Crash-landing-of-private-aircraft-MD-Chief-Engineer-of-Sakurai-Aviation-arrested/108-228736

• No new aircraft for Airforce due to Forex crisis

– dailymirror.lk/breaking_news/No-new-aircraft-for-Airforce-due-to-Forex-crisis/108-228933

• Advisory Council for auto assembling & auto components manufacturing industries

– island.lk/advisory-council-for-automobile-assembling-and-automobile-components-manufacturing-industries/

• China to help Sri Lanka build “Made in Sri Lanka” brand

 – lankaweb.com/news/items/2022/01/10/china-to-help-sri-lanka-build-made-in-sri-lanka-brand/

• Browns Heavy Machinery & Maga Engineering use Indo-Japanese tech TATA Hitachi

 ‘In collaboration with Hitachi, Sakai, Hitachi, Sumitomo, Mahindra, and Okada’

– ft.lk/business/Browns-Heavy-Machinery-joins-hands-with-Maga-Engineering-to-strengthen-Sri-Lanka-s-infrastructure-development/34-729042

– island.lk/browns-heavy-machinery-joins-hands-with-maga-engineering-to-strengthen-sri-lankas-infrastructure-development/

• Ministry of Highways removes chairmen. directors of state institutions

– timesonline.lk/news-online/Ministry-of-Highways-removes-chairmen-directors-of-state-institutions/2-1136435

• Kohuwala flyover project inaugurated by Hungarian Trade and Foreign Minister

– ft.lk/ft_tv/Kohuwala-flyover-project-inaugurated-by-Hungarian-Trade-and-Foreign-Minister/10520-729083

• RDA generates record Rs. 8.8 b income via expressways in 2021

– ft.lk/front-page/RDA-generates-record-Rs-8-8-b-income-via-expressways-in-2021/44-729139

• Revved up US demand for used cars sends prices soaring

‘a global shortage of computer chips amid the Covid-19 pandemic has stalled auto manufacturing’

– dailymirror.lk/business-news/Revved-upUSdemand-forused-cars-sends-prices-soaring/273-229060

• New day has dawned for traditional potters (Video)

– lankaweb.com/news/items/2022/01/10/new-day-has-dawned-for-traditional-potters-video/

• Japanese-owned Tos Lanka makes Security Device for woman’s outerwear

– island.lk/global-milestone-for-sri-lankan-electronics/

• David Pieris Motor Co. Madapatha Workshop now handles commercial vehicles too

– island.lk/dpmcs-workshop-madapatha-now-handles-commercial-vehicles-too/

• ICTA Signs Agreement with Ministry of Health to Formulate National Digital Health Blueprint

– bizenglish.adaderana.lk/icta-signs-agreement-with-the-ministry-of-health-to-formulate-national-digital-health-blueprint/

• Future availability & pricing of medicines – SL Chamber of Pharmaceutical Industry

‘foremost of these is the foreign currency crisis in the country’

– bizenglish.adaderana.lk/the-truth-about-future-availability-and-pricing-of-medicines

– lankaweb.com/news/items/2022/01/13/the-truth-about-future-availability-and-pricing-of-medicines-in-sri-lanka/

– timesonline.lk/news-online/Pharma-chamber-say-shortage-of-medicines-inevitable-owing-to-dollar-crisis/2-1136486

– island.lk/serious-shortage-of-medicine-due-to-foreign-currency-crisis/

• China donates Rs 127 mn worth of vital medical equipment

– island.lk/china-donates-rs-127-mn-worth-of-vital-medical-equipment/

• Outline of long history of US nationalization of vital industries during crises

– counterpunch.org/2022/01/13/profits-over-people-why-werent-the-vaccine-manufacturers-nationalized/

• Microsoft to headline final day of ICTA’s National Digital Consortia 2022

‘in partnership with the Federation of Information Technology Industry (FITIS), Association for Software and Services Companies (SLASSCOM), BCS and Computer Society (CSSL).’

– dailymirror.lk/business-news/Microsoft-to-headline-final-day-of-ICTAs-National-Digital-Consortia-2022/273-228865

• Japan Sri Lanka Technical & Cultural Association (JASTECA)’s Association for Overseas Technical Scholarship (AOTS) holds 35th AGM

– dailymirror.lk/business-news/JASTECA-holds-35th-AGM/273-228860

• Global digital transformation specialist UST explores expansion in Sri Lanka

‘UST’s principal shareholder Comcraft investments since early 1980s include Lanka Aluminium Industries and its group companies, Metecno, Mainetti, CIC Agri Business, and several others’

– ft.lk/front-page/Global-digital-transformation-specialist-UST-explores-expansion-in-Sri-Lanka/44-729041

• Bridge Advisory & Syntrex Global Tech: “How Digital Asset Exchange & Blockchain benefit”

– bizenglish.adaderana.lk/bridge-advisory-and-consulting-together-with-syntrex-global-technologies-present-informative-webinar-on-how-digital-asset-exchange-and-blockchain-can-benefit-sri-lanka/

• USAID Supports Free Online Mentoring Platform for Entrepreneurs

– bizenglish.adaderana.lk/united-states-supports-free-online-mentoring-platform-for-entrepreneurs/

• Indonesia eases coal export ban that rattled global market

– ft.lk/news/Indonesia-eases-coal-export-ban-that-rattled-global-market/56-729005

• China Venture Funding Hits Record $131 Billion Despite Crackdown

‘They’ve turned away from softer internet businesses and toward hard-core technologies like semiconductors, robotics and enterprise software’

– bloomberg.com/news/articles/2022-01-09/china-venture-funding-hits-record-131-billion-despite-crackdown

• Global chip shortage: Samsung forecasts 53% jump in quarterly profit

‘The European Union wants to increase its share of the global chip-manufacturing market from 10% to 20% and has promised $150bn towards the effort. Meanwhile, the US has allocated $52bn to domestic chip manufacturing’

– island.lk/global-chip-shortage-samsung-forecasts-53-jump-in-quarterly-profit/

• European airlines operating highly polluting empty flights to keep airport landing privileges

– radiohc.cu/en/noticias/internacionales/282378-european-airlines-operating-highly-polluting-empty-flights-to-keep-airport-landing-privileges

• Ocean freight rate hikes and its effects on global demand and supply

– bizenglish.adaderana.lk/ocean-freight-rate-hikes-and-its-effects-on-global-demand-and-supply/

• Not so happy new year for container shipping lines

– dailymirror.lk/mirror_business/Not-so-happy-new-year-for-container-shipping-lines/241-229010

• German trade body warns of huge supply chain disruption over Omicron

– radiohc.cu/en/noticias/internacionales/282684-german-trade-body-warns-of-huge-supply-chain-disruption-over-omicron

______________________________________________________________________

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., and the rule of moneylenders, preventing investment in modern production.

• Leading finance company financed three luxury vehicles bought from cheated money

– dailymirror.lk/breaking_news/Colombo-Fort-Magistrate-concerned-over-lethargy-of-CID/108-229153

• T. Senthilverl becomes second largest shareholder of Amana Bank

‘The largest shareholder of Amana Bank is IB Growth Fund (Labuan) LLP’

– ft.lk/front-page/Dr-Senthilverl-becomes-second-largest-shareholder-of-Amana-Bank/44-728903

• Banking sector counters show gains amid bourse’s fluctuating fortunes

– island.lk/banking-sector-counters-show-gains-amid-bourses-fluctuating-fortunes/

• Solid December earnings expected to power next leg of equities rally

– dailymirror.lk/business-news/Solid-December-earnings-expected-to-power-next-leg-of-equities-rally/273-228813

• Sri Lanka bourse edges up after two session losses; foreigners exit ahead of earnings

 – economynext.com/sri-lanka-bourse-edges-up-after-two-session-losses-foreigners-exit-ahead-of-earnings-89595/

• Stock market investors won’t return to old businesses

– sundaytimes.lk/220109/business-times/stock-market-investors-wont-return-to-old-businesses-468167.html

• Going high, going low: Why is CSE on the rise despite economic crisis?

‘Inflation is the cause for the rise of the Colombo Stock Exchange in recent times, while the same reason has driven Sri Lanka to have an economic crisis’

– newsfirst.lk/2022/01/14/going-high-going-low-why-is-cse-on-the-rise-despite-economic-crisis/

• Investment costs in Sri Lanka seen as having doubled over the past months

– island.lk/investment-costs-in-sri-lanka-seen-as-having-doubled-over-the-past-months/

• Capital market targets ‘1M2024’

‘150,000+ active mobile app users growing 7,000+ monthly. 70,000+ active investors, 30,000 in 2019’

– ft.lk/financial-services/Capital-market-targets-1M2024/42-728915

• David Peiris Group’s Assetline is the largest specialised leasing company in Sri Lanka

– island.lk/asset-draft-a-working-capital-solution-from-assetline/

• Ashoka Goonesekere appointed to HNB Assurance Board

– dailymirror.lk/financial-news/Ashoka-Goonesekere-appointed-to-HNB-Assurance-Board/265-228970

• ComBank remittance promo to make 4 millionaires in first 4 months of 2022

– island.lk/combank-remittance-promo-to-make-4-millionaires-in-first-4-months-of-2022-2/

• ComBank ended 2020 with net profit of Rs 17 billion.

‘Commercial Bank is the largest lender to Sri Lanka’s SME sector’

– island.lk/combank-highest-ranked-bank-in-latest-lmd-100-rankings/

• US Fed Has to Name Names under Four of its Emergency Loan Programs to Wall Street.

– wallstreetonparade.com/2022/01/on-march-31-the-fed-has-to-name-names-under-four-of-its-emergency-loan-programs-to-wall-street-will-the-media-censor-that-news-also/

• Mainstream Media Grovelling at US Fed’s Feet Today
– wallstreetonparade.com/2022/01/mainstream-media-has-morphed-from-battling-the-fed-in-court-in-2008-to-groveling-at-its-feet-today/

• Credit Default Swaps Blew Up A Day Before US Fed Launched Its Repo Loan Bailouts in 2019

– wallstreetonparade.com/2022/01/2-7-billion-in-credit-default-swaps-blew-up-one-day-before-the-fed-launched-its-repo-loans-bailouts-in-2019/

___________________________________________________________________________________

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

ee Business focuses on the rentier diversions of the oligarchy, the domination by a merchant mafia, making money from unproductive land sales, tourism, insurance, advertising, etc. – the charade of corporate press releases disguised as ‘news’

• Company Meetings: Stop The Corporate Fraud

‘Over 2.3 billion Rupees is lost every year in Sri Lanka’s private sector due to unproductive meetings. This is a conservative estimate – my guess is that the correct figure is probably ten times this number

– bizenglish.adaderana.lk/company-meetings-stop-the-fraud/

• Govt. gazettes Special GST Bill to simplify existing tax structure

– ft.lk/front-page/Govt-gazettes-Special-GST-Bill-to-simplify-existing-tax-structure/44-728900

– dailymirror.lk/business-news/Government-to-appoint-designated-officer-under-Treasury-to-collect-Special-GST/273-228871

• Sri Lanka Institute of Taxation gets new council

‘Prasanga Ranwatte, President, Executive Council 2021/22 include, T. Prasanga Ranwatte President, SA Bharatha P Subasinghe Secretary, Ruwan Gamage Vice President, N.V. Sameera Vithanage Treasurer, D Rangalle, Ranil Abeywardhene, UP Gayan T Karunaratne, Mahi Nuwan Vithanage, AHM Thimira C Abeysinghe, Dr JAS Felix, and PVL Nandasiri….exclusively conducting professional study courses in Taxation…retired senior officials of the Department of Inland Revenue formed the SLIT..”

– island.lk/sri-lanka-institute-of-taxation-gets-new-council/

• Impunity for state officials in new draft Tourism Act

– sundaytimes.lk/220109/business-times/impunity-for-state-tourism-officials-468182.html

• EU, UNDP support for rebuilding tourism

– island.lk/eu-undp-support-for-rebuilding-tourism/

– ft.lk/business/UNDP-EU-partner-to-support-Sri-Lanka-s-tourism-revival/34-728904

– dailymirror.lk/opinion/Tourism-needs-sustainable-and-eco-friendly-development-plan/172-228777

• Tourism earnings hit $ 500 m target for 2021

– ft.lk/front-page/Tourism-earnings-hit-500-m-target-for-2021/44-729137

• High fees, no facilities at Sigiriya

– sundaytimes.lk/220109/news/high-fees-no-facilities-at-sigiriya-468531.html

• Sri Lanka puts the splendour into travel – Jewish News

– lankaweb.com/news/items/2022/01/13/sri-lanka-puts-the-splendour-into-travel/

 • Foolproof stickers made compulsory for all local alcoholic beverages

– sundaytimes.lk/220109/business-times/foolproof-stickers-made-compulsory-for-all-local-alcoholic-beverages-468104.html

• Marine City project in final stage of regulatory approval

– sundaytimes.lk/220109/news/marine-city-project-in-final-stage-of-regulatory-approval-468526.html

• Six plots out of 74 at Port City leased

– themorning.lk/six-plots-out-of-74-at-port-city-leased/

• China backs resumption of stalled FTA with Sri Lanka

– economynext.com/china-backs-resumption-of-stalled-fta-with-sri-lanka-89438/

• Fulbright Scholar Janaka Abeysinghe appointed SLT CEO

– dailymirror.lk/business-news/Janaka-Abeysinghe-appointed-SLT-CEO/273-229059

• Brown and Company appoints new CEO Thamotharampillai Sanakan

‘also on boards of Commercial Leasing & Finance, LOLC Development Finance, Associated Battery Manufacturers, BI Holdings and several others’

– ft.lk/business/Borwn-and-Company-appoints-new-CEO/34-729112

• Dr. Sajeeva Narangoda Appointed as Executive Director of Ambeon Holdings PLC

‘also to boards of Millennium I. T. E. S. P., Dankotuwa Porcelain and Royal Fernwood Porcelain’

 – bizenglish.adaderana.lk/dr-sajeeva-narangoda-appointed-as-executive-director-of-ambeon-holdings-plc/

• Cloud business technology Linear Squared acquired by Bangalore AI Algonomy

– sundaytimes.lk/220109/business-times/joint-software-venture-between-sri-lankan-and-indian-companies-468098.html

• ISM APAC announces strategic alignment with Dutch Sana Commerce

– island.lk/ism-apac-announces-strategic-alignment-with-sana-commerce/

• International Chamber of Commerce – Sri Lanka elects Board Members for year 2022

‘Vice Chairman S. Renganathan, Vice Chairman Stasshani Jayawardena, Vice Chairman Sanjaya Mohottala, Treasurer Sheanath de Soysa, Vice Chairman Nalin Pieris, Immediate Past Chairman Dinesh Weerakkody, Chairman Shanil Fernando, Past Chairman Keerthi Gunawardana, Past Chairman Tissa Jayaweera, Secy. Hemakumara Gunasekara, Vice Chairman Johnny Fernando, Deputy Secy. Manisha Rajanayake, Committee Members Chris Lee, Boshan Dayaratne, Upali Ratnayaka, Dinesh Saparamadu, Nipunika Wijayaratna, Member Buddhapriya Ramanayake, R.D.I.D. Rajapakshe, and Janath Ilangantileke

– ft.lk/business/International-Chamber-of-Commerce-Sri-Lanka-elects-Board-Members-for-year-2022/34-729114

• US American Chamber of Commerce in Sri Lanka Christmas

‘in collaboration with Sysco Labs Sri Lanka, HSBC, Cinnamon Hotels & Resorts and SPAR Supermarkets…’

– island.lk/amcham-sri-lanka-inaugurates-annual-christmas-fundraiser/

• Bill & Melinda Gates Foundation for health, agriculture & financial inclusion Sri Lanka

 – ft.lk/business/A-shred-of-positivity-to-lift-the-hopes-of-Sri-Lankans-in-unprecedented-times/34-728906

• Sumi Moonesinghe made Anchor the country’s biggest milk brand

– island.lk/life-and-times-of-sumi-moonesinghe-business-leader-extraordinaire/

• Sri Lanka Journal of Management Studies New volume dedicated to Professor P. Sergius Koku

– island.lk/sri-lanka-journal-of-management-studies-new-volume-dedicated-to-professor-p-sergius-koku/

• Siam City Cement Group and IUCN Continue Partnership

– island.lk/siam-city-cement-group-and-iucn-continue-partnership-to-support-sccc-groups-sustainability-ambition-2030-and-biodiversity-conservation-in-asia/

______________________________________________________

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

ee Politics points to the constant diversions and spectacles and the mercantile and financial forces funding the political actors, of policy hijacked by private interests minus public oversight.

• Oh, My Mouth – Nalin de Silva

– kalaya.org/?p=4911

• Basil violated collective responsibility, not us: Weerawansa, Gammanpila, and Nannayakkara

– themorning.lk/basil-violated-collective-responsibility-not-us-wimal-weerawansa-udaya-gammanpila-and-vasudeva-nannayakkara/

• Why Gotabaya Is Battling A Crisis No Sri Lankan Leader Has Faced – Analysis

– lankaweb.com/news/items/2022/01/14/why-gotabaya-is-battling-a-crisis-no-sri-lankan-leader-has-faced-analysis/

• Patali discharged after JMO’s examination

 – lankaweb.com/news/items/2022/01/13/patali-discharged-after-jmos-examination/

• Terms of local government authorities extended

– timesonline.lk/news-online/Terms-of-local-government-authorities-extended/2-1136437

• H’tota HC issues order preventing Kataragama PC Chairman from holding office

– newsfirst.lk/2022/01/11/htota-hc-issues-order-preventing-kataragama-pc-chairman-from-holding-office

• Erasing the Eelam Victory Part 25D2

‘The UN now depends on 10 to 15 western countries for funds and these countries have turned this dependency to a handle to make the UN further their foreign policies’

– lankaweb.com/news/items/2022/01/09/erasing-the-eelam-victory-part-25d2/

• Newton, Zuckerberger & the Gods

– www1.kalaya.org/2022/01/blog-post_13.html#more

• Thai Pongal and New Year – Nalin de Silva

– www1.kalaya.org/

• Vellalar extremism turns into “Tamil nationalism”

– lankaweb.com/news/items/2022/01/10/vellalar-extremism-turns-into-tamil-nationalism/

• “Red light for China, Green Light for India”

 – lankaweb.com/news/items/2022/01/13/red-light-for-china-green-light-for-india/

• Opposition orientations: Anura, Suma and Sajith – Jayatilleka

 ‘Surreally, Sumanthiran is betting on the USA acting through the agency of the UNHRC to facilitate federalism in Sri Lanka claiming that in recent discussions in DC he was given favourable signals’

– ft.lk/columns/Opposition-orientations-Anura-Suma-and-Sajith/4-729084

• Former President Chandrika in conversation with former Chief Justice Shirani

– dailymirror.lk/caption_story/Engrossed-in-conversation/110-229123

• Since the last presidential election Sri Lanka hasn’t obtained any foreign loans: President

‘Whatever the reasons, the previous government had obtained loans for, his government was now faced with the daunting task of repaying USD 6.3 bn, annually’

– island.lk/prez-talks-of-referendum-rules-out-national-govt-slams-premjayantha/

• President shuffles subjects and functions of several Ministers, State Ministers

– ft.lk/front-page/President-shuffles-subjects-and-functions-of-several-Ministers-State-Ministers/44-729018

• Sirisena remains defiant; SLPP-SLFP ties deteriorate

– island.lk/sirisena-remains-defiant-slpp-slfp-ties-deteriorate/

– economynext.com/sri-lanka-former-president-promises-new-slfp-govt-89471/

– lankaweb.com/news/items/2022/01/10/maithripala-says-a-new-alliance-most-likely-as-old-ones-have-reached-expiry/

• Govt has created a hell for people in Sri Lanka” – Opposition Leader Sajith Premadasa

– lankaweb.com/news/items/2022/01/10/govt-has-created-a-hell-for-people-in-sri-lanka-video/

• JVP challenges govt. to tell people why it put off local polls

– island.lk/jvp-challenges-govt-to-tell-people-why-it-put-off-local-polls

– island.lk/polls-phobia-2/

– dailymirror.lk/breaking_news/JVP-calls-on-govt-to-reveal-reason-behind-postponing-LG-polls/108-228848

• The NPP’s proposed way out

‘Hector Abhayavardhana used to say, the JVP veered to the left of its leftwing opponents in the United Front government and to the right of its rightwing opponents in the Jayewardene regime’

– island.lk/the-npps-proposed-way-out/

• JVP-NPP Manifesto sparks a season of debates – David

– island.lk/jvp-npp-manifesto-sparks-a-season-of-debates/

• Should People Give a Chance to JVP for Governing the Country?

– lankaweb.com/news/items/2022/01/10/should-people-give-a-chance-to-jvp-for-governing-the-country/

• Response to Anura Kumara’s Anti-Sinhala Rhetoric – Part II

– lankaweb.com/news/items/2022/01/09/response-to-anura-kunaras-anti-sinhala-rhetoric-part-ii/

• JVP Leader promises green revolution through future NPP govt using country’s underutilised diplomatic service

– island.lk/jvp-leader-promises-green-revolution-through-a-future-npp-govt-using-countrys-underutilised-diplomatic-service/

• Wijedasa Rajapaksa on Chinese Debt Warning

‘He is distracting people from the Indian takeover of SL’s petroleum sector (IOC), Trinco oil tank farm and the land, Colombo Port East terminal, etc. None of these bring dollars but takes out SL’s dollars.’

– lankaweb.com/news/items/2022/01/09/wr-on-chinese-debt-warning/

– island.lk/wijeyadasa-wary-of-chinese-designs-urges-govt-to-pay-attention-to-developing-scenario/

• Lanza asks not to underestimate criticism from within Government

– lankaweb.com/news/items/2022/01/09/lanza-asks-not-to-underestimate-criticism-from-within-government/

• Govt. caught in a vicious circle of own lies: SJB

– ft.lk/top-story/Govt-caught-in-a-vicious-circle-of-own-lies-SJB/26-729134

• President trying to divert attention away from economic difficulties – US NPC

– island.lk/glimmer-of-hope-in-a-deteriorating-situation/

• Election Commission recognises three new political parties

‘They are Nawalanka Nidhahas Party by former Minister and MP Kumara Welgama, Tamil Progressive Alliance of MP Mano Ganesan and Tamil Makkal Kuttani Party of MP C.V. Wigneswaran.’

– island.lk/election-commission-recognises-three-new-political-parties/

• Growing authoritarianism in Lanka – for whose good? – Daily Mirror Editorial

– dailymirror.lk/opinion/Growing-authoritarianism-in-Lanka-for-whose-good-EDITORIAL/231-228655

• Lankans in Frankfurt happy about consulate closure

– island.lk/lankans-in-frankfurt-happy-about-consulate-closure/

• Making a new Constitution: How best? By whom?

– island.lk/making-a-new-constitution-how-best-by-whom/

• Religious revival – Ups and Downs in the saga of religion in China

‘In 2018, China and the Vatican agreed to allow the two sides to jointly appoint bishops’

– dailymirror.lk/news-features/Religious-revival-Ups-and-Downs-in-the-saga-of-religion-in-China/131-228658

• What Future for Progressive Politics in South Korea?

– socialistproject.ca/2022/01/what-future-for-progressive-politics-in-south-korea/

• Tunisia’s First Digital Political Consultation Divides Opinions

‘The country’s first-ever digital consultation on a new constitution’

– newsclick.in/Tunisia-First-Digital-Political-Consultation-Divides-Opinions

• What Might A Lame Duck Biden Aim For?

– moonofalabama.org/2022/01/what-might-a-lame-duck-biden-aim-for.html

__________________________________________________________

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.

• USAID’s MediaInc. to strengthen Sri Lanka’s media start-up ecosystem

‘Part of IREX’s Media Empowerment for a Democratic SL (MEND) program, supported by USAID… David Hayward, a veteran ex-journalist,Wendy Pilmer from the BBC; and, Neal Moore, an expert in content strategy and storytelling, MEND Chief of Party, Jean MacKenzie…’

– adaderana.lk/technology/79682/mediainc-to-strengthen-sri-lankas-media-start-up-ecosystem

• Google faces probe in India over abuse of news aggregation dominance

– adaderana.lk/technology/79795/google-faces-probe-in-india-over-abuse-of-news-aggregation-dominance

• Role of the monastery in promoting different crafts including iron-smelting and metal craft

– island.lk/prehistoric-community-heterogeneous-despite-sinhalese-character-and-ethnos/

• SLIM Imported Brand Excellence Awards 2021 reaches final round

‘82 brands are represented by 61 organisations’

– island.lk/slim-brand-excellence-awards-2021-reaches-final-round/

• Ceylon Chamber’s ‘Right to Information and Private Sector’ webinar on Jan. 18

‘Corporate partners for the webinar are London Stock Exchange Group (LSEG) and Hutch’

– dailymirror.lk/business-news/Ceylon-Chambers-Right-to-Information-and-Private-Sector-webinar-on-Jan-18/273-228859

– ft.lk/news/Webinar-on-The-Right-to-Information-and-the-Private-Sector/56-729006

• Proper concerted mechanism to educate the people needed – Daily Mirror

‘through schools, universities, trade unions, civil society organizations, media institutions and religious places’

– dailymirror.lk/opinion/Prepare-the-masses-for-the-looming-dangers/172-228776

• Be Patriotic Not Hysteric – To Both Politicians and Media in Sri Lanka

– lankaweb.com/news/items/2022/01/11/be-patriotic-not-hysteric-to-both-politicians-and-media-in-sri-lanka/

• Arrested for sharing opinion regarding possible cyber-attack: Youth files FR

– dailymirror.lk/breaking_news/Arrested-for-sharing-opinion-regarding-possible-cyber-attack-Youth-files-FR/108-228916

• To speak or not to speak Can freedom of speech lead to jail? – Hashtag Generation

– dailymirror.lk/insight/To-speak-or-not-to-speak-Can-freedom-of-speech-lead-to-jail/374-228942

• Archaeology Department & Bauddhaloka Foundation MoU to conserve Kurundimale temple in Mullaitivu

– island.lk/archaeology-department-and-bauddhaloka-foundation-sign-mou-to-conserve-ancient-kurundimale-temple-in-mullaitivu/

• Cultural revival, education reform, and study of history

– island.lk/cultural-revival-education-reform-and-study-of-history-2/

• Punya Heendeniya in Mexico & New York

– island.lk/past-laurels/

• Sri Lanka cinemas to screen Japanese anime movies

– economynext.com/sri-lanka-cinemas-to-screen-japanese-anime-movies-89626/

• The Art of Survival

– dailymirror.lk/insight/The-Art-of-Survival/374-228851

• Lady in red: Mysterious painting hidden behind a prominent Sri Lankan’s portrait

‘we wanted someone from an internationally accepted programme’

– economynext.com/lady-in-red-mysterious-painting-hidden-behind-a-prominent-sri-lankans-portrait-89584/

• Lakmahal Library founded by Anisha Dias Bandaranaike

‘Dhananath Fernando, Priyanthi Fernando, Ameena Hussein and Chalani Ranwala make up the library’s Board of Directors, serving voluntarily’

– sundaytimes.lk/220109/plus/a-new-chapter-for-lakmahal-2-468069.html

• “The History of the Museum in India” – Romila Thapar

– island.lk/the-history-of-museum-in-india/

• Sir Ponnambalam Arunachalam (1853-1924)

– island.lk/sir-ponnambalam-arunachalam-1853-1924/

• US ambassador Phillip K. Crowe’s book, Diversions of a Diplomat in Ceylon

– island.lk/frenzied-feeding-of-fish-and-more-jungle-tales/

• Thai Pongal: Age- old rituals to mark harvest festival

– sundaytimes.lk/220109/plus/thai-pongal-age-old-rituals-to-mark-harvest-festival-468040.html

• Sri Lanka Malay Association set to mark centenary celebrations

– sundaytimes.lk/220109/sunday-times-2/sri-lanka-malay-association-set-to-mark-centenary-celebrations-468356.html

• Burgher Lights of Sri Lanka

– island.lk/burgher-lights-of-sri-lanka/

• Cinematic politics of M.G. Ramachandran (MGR)

‘He even went to the extent of openly providing crores of cash to the Tigers. ‘

– ft.lk/columns/Cinematic-politics-of-M-G-Ramachandran-MGR/4-729074

• The Danger Of Subjective Reading Of Covid News

– moonofalabama.org/2022/01/the-danger-of-subjective-reading-of-covid-news

• Twitter Bans African Anti-Imperialists

– blackagendareport.com/twitter-bans-african-anti-imperialists

_________________________________________________

email: econenews@gmail.com

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"

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