US Female War Criminal Lands to Lecture Sri Lanka on Human Rights & MCC

‘Before you study the economics, study the economists!’

e-Con e-News 06-12 March 2022

• The US State Department is threatening to send Victoria ‘Fuck the EU’ Nuland, Undersecretary for Political Affairs, to Sri Lanka on 22 March, with Assistant Secretary for South Central Asian Affairs Donald ‘Banana 2’ Lu. S/he will be allowed to issue public ultimatums (MCC, anyone?) and shower private bribes to split the government further, by expelling any remaining Sri Lankan nationalists and socialists. Nuland is well known for buying off businessmen, politicians, editors and journalists, and selling weapons of mass destruction!

     The blood of thousands of Russians and Ukrainians, let alone Afghanis, Iraqis, Congolese, Syrians, Libyans, Yemeni, Myanmari, etc, also drips off Nuland’s lips and hands. She wishes to add Sri Lanka to her bloody list – and should be arrested as she steps off the plane, let alone allowed to land!

     Nuland’s jaunt comes a few weeks after the US government ‘gifted’ 2 pre-owned (Ha! Ha!) Raytheon military aircraft to Sri Lanka. Current US War Secretary General Lloyd Austin is a former director of Raytheon Technologies Company, the USA’s No. 3 war contractor.

     ‘With Victoria Nuland back at the State Dept, the Biden administration seeks to transform more Ukrainians into bullet stoppers for Raytheon’, wrote The Grayzone. Nuland is credited with masterminding mass murder in the Ukraine, along with US Secretary of State Antony Blinken. Both are of the Ukrainian Jewish ‘diaspora’, happy to have East Europeans murder each other. She’d no doubt love to have Sri Lankans do the same.

     Nuland made a name for herself selling weapons to Ukraine, and, with her husband Rob Kagan, was a big supporter of the invasion of Iraq. It’s Nuland who demanded that their ‘free’ media refer to the US sale of deadly arms to Ukraine, as ‘defensive’ weapons. The corporate media has also been instructed to ignore the Fascist and Nazi elements in the Ukrainian leadership, and hide the US and Nuland’s $5billion role in the 2014 coup d’etat against Ukraine’s democratically elected government. (Random Notes)

• The US and Nuland’s real agenda is of course for Sri Lanka to submit to IMF dictat. The IMF prioritizes ‘reducing the role of the state in the economy’ (i.e. selling off national enterprises) in order to plunge Sri Lanka into even greater foreign debt bondage.

     The supposed paralysis and mind-boggling incompetency to resolve the fuel and gas shortage in Sri Lanka was deliberate – to undermine a popular government and its even more popular leader, who once promised the people, they would further strengthen national independence.

     To prevent a national economy, ‘human rights’ provides the main ideological smokescreen to impose capitalist demands. The US recently joined the self-appointed imperialist ‘Core Group’, headed by England, which is leading the attack against Sri Lanka. This ‘Core Group’ represents countries whose multinationals, like Chevron and Unilever, dominate Sri Lanka’s home market, from fast-moving consumer goods to fuel and fertilizer!

     The role of the IMF in deepening inequality is rarely reported in the media. The US economic quest to open global markets to capital is a key driver of international affairs, but the media chooses to ignore it, with public debate turning incomplete and shallow. So what was Nuland’s role in imposing IMF conditions and destroying Ukraine’s economy? (Random Notes)

• So, what’s with the US sending a notorious war criminal to lecture us on ‘human rights’. A woman, who as we write, has been caught setting up biolabs in Ukraine for chemical warfare targeting specific nationalities. Irony, indeed, as the US and their banks and corporations have been vociferous about ‘gender inclusion’ – even tho they’re now extremely unclear what ‘gender’ means! (Random Notes)

     ‘IFC, CSE ring bell for gender equality in Sri Lanka’, blared business headlines on International Women’s Day 2022. Imperialist-funded NGOs with such tired names as ‘Women for Rights’ , ‘Tamil Nationalistic Women’s Day’ were briefly highlighted in the capitalist media. Notorious corporate gangsters such as Standard Chartered Bank joined in to ‘empower working women’. McLarens Group (a front for Rockefeller’s Exxon Corp) handed out sanitary napkins (such capitalist male fascination with menstruation!) to celebrate IWD. In 2016, India extended legal UN immunity like those enjoyed by foreign missions and diplomats, to the World Bank’s International Finance Corporation (IFC). Why?

      IWD here, for all intents and purposes, appears to be have been hijacked by the whites, corporations and their NGOs – the deadliest enemies of women and men, the world has ever known. In Sri Lanka, more attention was given in the English media to the stock exchange ringing its balls with the World Bank for gender equality. So what exactly are IWD’s modern origins? Read Alexandra Kollontai’s recall of its beginnings in the 1848 revolution of armed workers in Germany. 1848 indeed resonates, even if subconsciously, with Sri Lankans… (Random Notes).

• ‘2.4 million out of the 2.8 million ensnared in the microfinance debt trap were women’ – news highlights – almost 200 women have committed suicide due to microfinance debt. Yet the story does not highlight the role played by imperialist development banks, that are behind both these local microfinance companies, as well as behind the NGOs shallowly criticizing such debt (see ee Finance, Micro).

     So this ee gazes at the development banks. There are at least 2 types: the imperialist development banks that are slowly (or should we say, openly) taking over the national banking system (if it ever was national). And what happened to truly independent development banks, which could invest in modern production? This is what the last Central Bank governor WD Lakshman promised. He was ‘retired hurt’ before he could deliver. He is yet to tell his story (ee Focus). Many ee critics insist we’re fools. The SLPP had no intention to promote a national industrial policy. Their intention was to halfheartedly contrive to discredit such practices (ee Comments)

• Dollars for Bajajification – Many are complaining about the deadly state of the economy. What would they do different? Secretary to the Ministry of Energy KDR Olga states, it was only after credit rating downgrades, that fuel suppliers started demanding payment for fuel before oil stocks were shipped. Meanwhile the Indian Oil Corporation is fleecing the country by hiking fuel prices. At the same time, the Indian government provides us loans to buy their fuel, their cars and their 3wheelers?

• It was SBD de Silva, to whom ee owes its existence, who told us we could learn about economics, by just walking along the pavement. Look at what is being sold and where it’s made. Even simple things like pencils and erasers: All of which could be made here. He also told us to look at the cars (with one occupant each) on the road, and wondered out loud, ‘How long can this import orgy last?’ – ‘How long?’, he asked, many times, before he passed away. This week we were told ‘Sri Lankans’ spend at least Rs3billion a day guzzling imported fuel, with 9,000 metric tons of diesel distributed daily.

     Yet is it ‘Sri Lankans’ who guzzle it off, or a small minority mainly in Colombo and Western Province? It’s however Sri Lankans in the rest of the country who pay for this orgy. It’s they who have to endure more prolonged powercuts, etc. Check ee Industry, for this comedy of oil and powerlessness.

• Two years (& 72 years) too late into the meltdown of the economy, Finance Minister Basil Rajapakse has decided to restrict certain ‘inessential’ imports, which include bottled (plastic) water, etc. The next day, we (or merchants) are reminded (wink, wink), it’s not a ban but a restriction. One ‘restricted’ imported item struck ee: ‘conjuring tricks & novelty jokes.’ Indeed, all the media propaganda wailing against ‘harsh’ import restrictions for the last 2 years, should also be included in these ‘conjuring tricks’. No media ever listed the enormous costs of all these useless imports being allowed to begin with. These imports have used up millions of ‘precious’ dollars. Dollars, the media is now crying, we lack to import essential petrol, drugs, etc! What we should all be crying out, is: De-dollarize Now! Boycott the US$! Ditch your Dollars, as Russia, China, Iraq, Iran, Libya have been doing (why the US attack/ed those countries)

     These new ‘restrictions’ are listed as amendments to the Imports & Exports (Control) Act, No 1 of 1969, amended in 1985 and 1989. Note the dates. The 1969 Act was imposed under PM Dudley Senanayake’s Permanent Secretary of the Ministry of Planning & Economic Affairs, Gamani Corea. These restrictions however have never been part of an overall political, economic and military strategy to implement modern industrialization, but band-aid measures to deal with ‘balance of payments’. Sri Lanka’s economic predicament is not new, it’s an accumulated embolism, caused by postponing real independence – an independence that begins with modern industrialization.

     Dual-citizen Basil Rajapakse is being tagged an ‘US agent’, on whom the US has gathered a lot of ‘dirt’, which includes the stashing of ill-gotten money. This is of course not new. All of Sri Lanka’s oligarchs stash their money with the whites, and are thus in no mood to transform the economy. So, it’s not regime change the US seeks, but regime stability. Keep the country underdeveloping!

• For 72 years we’ve fooled ourselves with accolades about our great literacy, culture, etc. Yet a nation to be independent requires numeracy-based literacy. A great culture to flourish needs an economy based on modern industrial machine production. The World Bank Directors in their air-conditioned offices, this week, thrilled about Sri Lanka’s ‘highest human capital index in South Asia’, while promoting a ‘services economy’ to ‘generate growth in exports and GDP’, which ‘can contribute further to gender equality’. All this is pure bullshit of course. We should find a better word to describe their nonsense, for at least bullshit is organic, tho cattle are also eating ‘shopping’ aka plastic.

Contents:

A1. Reader Comments –

• ee fooled by SLPP • Don’t blame politicians only • Colombo Telegraph on an English leash • RAW Stronger than Modi • India & Ukraine

A2. Quotes of the Week

• Economics Dons Ignored Loan Business • Fake Freezer Truck & Tractor Imports • Raising Interest Rates a Disaster for Production • Drivers Should Pay for Highways • Wimal on Basil • Why I Left Canada • Cuba Shares Vaccine Tech • Russia’s Anti-Sanction Strategy • Denazification • US BioWar in Ukraine

A3. Random Notes –

• Mass Murder Needed • Nazis & White Settlers • Canada’s Mother of all Sanctions • IMF’s Ukraine Formula • Nuland’s Biology and Biography • Ukraine’s Bloody Coup • Eelam is Ukraine is Eelam • Concert of Europe’s Core Group • The Daily Amnesia • Unilever, England & Core Group • Core Group is League of Multinationals? • IPKF2? Eelam War 5? • Rule of Law Changes with Dollars • Aijaz Ahmad • Origins of Women’s Day • Votes, Race & Class

B. ee Focus    

B1. Imperialist Development Finance Institutions (DFIs) Hijack Banks in Sri Lanka

B2. Sri Lanka’s Development Banks turn Undercover Agents of Multinational Corporations

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

• ‘ee and its supporters are utter clowns and naifs – the government never had any intention to be self-reliant. Even worse, their feeble claims about import restrictions, organic production etc were just that – claims! The idea is to ridicule and undermine, totally discredit any model of self-reliance…ee are stupid fools to think the SLPP wished to really protect and develop the country’

• ‘Nostalgia about good old days doesn’t work cos if it was so good, how did this come to pass? Blaming politicians is also useless, cos there are way more powerful forces than them: multinationals, still colonial civil service, media, intellectuals.’

• ‘Colombo Telegraph has stopped publishing my articles and comments. Perhaps the editor is worried about his English handlers – they could deport him from London or get a skinhead to knock his thattay!’

• ‘Speculation about Premadasa’s murder is interesting. Since LTTE had to follow instructions from its ruling powers outside Sri Lanka, ee has to examine what motivated them. These powers relayed their instructions to LTTE through RAW? Did they convey instructions about Gandhi’s removal too? RAW is said to take orders from outside India, even today. If Modi’s government wants to have better relations with Sri Lanka it will have to outwit RAW first. More serious ‘incidents’ with TN fishing vessels are on the cards…’

• The JVP and FSP are paid to say the same thing about the Eastern Europe war. They are denouncing both sides, which could amount to an ignorance of history and the making of false equivalences. However, they may also be looking at the so-called ‘rules-based international order’ and perhaps futurizing about India using such a Ukraine precedent to invade Sri Lanka, a process already underway with Trinco & LIOC?’

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A2. Quotes of the Week_

• ‘The dons not only at Peradeniya but all our Universities ignored what was happening to our country which was running the economy on loans, not gearing funds to bring about development. If only our economic dons had written that running a country on loans, without any plans to repay will someday bring us to bankruptcy, it would have been a contribution.’ – Garvin Karunaratne, ee Economists

• ‘The original ban excluded tractors & freezer trucks. The result was that there were opportunities for freezer truck importers to take off the freezer unit and sell the trucks for which there was demand. The surge of tractor imports we saw at the time may have been partly due to the haulage capacity of tractor-trailer units in the context of the ban on truck imports.’ – ee Economy, Apples

• ‘Increasing interest rates for external shocks is a double blow to the economy in the current environment. The Central Bank move pushes up input costs (ie, raw material, printing, shipping, packaging, energy, transport, etc). While the cost of financing of all local industries involved in production too will in turn rise, these higher costs will be passed down to consumers as higher prices causing a vicious cycle.’ – ee Economists, Econsult

• ‘When oil prices are increased, most of the prices of goods & services also increase. Costs for production of goods & services also go up. Yet goods & services prices don’t go down when oil prices go down. So other than benefiting those who use vehicles, lower oil prices don’t make it any better for others. Apart from education and health, there are many free services provided by the government. Highways are such a service. The government is paying a huge cost to provide this service. Road users should bear the cost of it. Local methods can be developed as much as possible for needs like gas, fertilizer, medicines. But our experts won’t agree to work like that. They only approve of how to spend as many dollars as possible.’ – Varuna Chandrakeerthi, Facebook

• ‘Weerawansa accused Finance Minister Basil Rajapaksa of not having a meeting with the Governor of the Central Bank (Nivard Cabraal) for more than 6 months. ‘During this period, he (the Governor) had sent 9 letters, but the finance minister has had no time to look at them,’ he declared. He expounded that in a ‘country that is severely affected by a foreign-exchange crisis, if the finance minister has no time to meet the CB Governor, nor time to look at his recommendations, he is only waiting till things are further messed up. We cannot ‘sugarcoat’ reports of such occasions anymore. Either one should be stupid to allow the situation to deteriorate to disaster level or be naive. We took the decision for a new ‘roadmap’ to save the country to awaken those who are pretending to be asleep. We want to educate the people.’ – ee Economists, Most IMF programs

• ‘This is why I left Empire, honestly. I let my US Green Card lapse and I left Canada entirely. I was fucking depressed. I was lonely. That’s why I returned to sender, that’s why I came home. I look at my children today and I’m glad I did. I’m glad I returned to a feeling I didn’t have an explanation for but nonetheless know. I can feel it even on the road. In the morning we were standing there, waiting for the tuktuk to come. The kids’ great-grandparents came onto the balcony to say hello, the old lady scolding me for making some stupid joke. Then the grandparents came onto another balcony, in nightclothes, to say hello. What wealth is this? What untold riches? Yet it would show up in no statistic, in no report. And yet this is life. This is soul.’ – ee Workers, Lonely

• ‘Not only has Cuba succeeded in vaccinating most of its population, including children, it has also sent these vaccines to other countries that have approved them. Venezuela, Vietnam, Iran, Nicaragua, Argentina, Mexico and Syria are a few such countries. Cuba has not just given these countries vaccines for immediate administration but also provided them with technology to produce these vaccines in their regions. It has made an end-to-end technology transfer with some of these countries – Vietnam, Venezuela, Iran. End-to-end technology transfer means that the country that’s getting this technology can set up a domestic manufacturing plant and replicate the production of the vaccine from start to finish. This helps build the manufacturing capacity of the receiving country.’ – ee Industry, Cuba

• ‘Russia’s ‘core goals’ to counter white sanctions are: ‘protecting the domestic market’; ensuring uninterrupted functioning of enterprises by eliminating disruptions in logistics & production chains; helping the people and businesses to quickly adapt to the changing circumstances; and, maintaining employment.’ – ee Sovereignty, Sanctions

• ‘Denazification – what does this mean? I’ve spoken with my Western colleagues about this. They say: ‘What is the problem? You also have the radical nationalists.’ Yes, we do. But we do not have them in the government, but everybody agrees that they (the Ukrainians) do. Perhaps, we have some idiots running around with swastika, but do we support that at the government level? Do 1000s of people march with torches and swastikas on the streets of our capital or other cities in Russia, like happened in 1930s in Nazi Germany? Is something like that happening in Russia? But it happens in Ukraine, and it is supported. Do we support those who killed the Russians, Jews, or the Poles during the war? Do we hail them as heroes? But in Ukraine, they do.’ – Russian president Putin, ee Sovereignty

• ‘The Pentagon had serious fears that the world would become aware of the conduct of secret biological experiments on the territory of Ukraine. To hide the violation by Washington and Kiev of the first article of the UN Convention on the Prohibition of Bacteriological (Biological) & Toxic Weapons, the Ukrainian Ministry of Health sent an instruction to all biolaboratories to urgently eliminate stocks of dangerous pathogens.’ – ee Sovereignty, Biolabs

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

The West ought to stand firm, even if it means another Russian invasion of Ukraine,

because even though ‘the human toll will be extensive…

the long-term damage suffered by Moscow… is likely to be substantial as well.’

– John Deni (Wall Street Journal, 12/22/2021)

• It’s no coincidence at all! The current white war on Russia is promoted by people (fake Americans!) with such names as ‘Freeland’ and ‘Nuland’, and women to boot! Chrystia Freeland, Canada’s deputy PM & Finance Minister, is now the real ruler of Canada (beneath the English Queen, of course). Freeland’s Nazi links have been well hidden (her Ukrainian grandfather stole for the Nazis! Freeland’s mom helped draft NATO-wannabe Ukraine’s tribalist constitution!). Freeland is currently rated ‘the best representative of Canada’s oil companies and their financiers’. After all, she’s a Rockefeller Exxon dupe, for Exxon has chosen all Canadian leaders except one throughout its settler history! (Exxon in Sri Lanka operates thru Chevron, Pathfinder, Advocata etc.)

     Freeland also pushed the USA to target the Russian Central Bank, to deprive them of billions of reserves in foreign currencies, and exclude Russian banks from the SWIFT interbank platform. MP Freeland represents Toronto Centre, which includes Bay Street, the centre of capital within Canada’s financial capital. She was born in Alberta, where Canada’s founding capitalists, the Hudson Bay Company, waged genocidal war on the original people. Freeland indeed!

     Then here comes New York, NY’s Nuland (aka Nudelman)! New land hurray!: A highly dominant myth among those who may consider themselves socialists etc, is that Nazi/Fascist is the worst condition ever. Yet the European Nazis and Fascists revered the white settlers of the Americas and the Pacific (Australia, New Zealand etc) as their elder brothers and sisters! The settler states were/are their role models in genocide!

• In Ukraine, the IMF imposed laws to make the country ‘more attractive’ to foreign investment (FDI). FDI is a favorite demand of Sri Lanka’s poodle economists, who refuse to ask, ‘investment for what?‘

     The IMF got Ukraine to lower wages, weaken public health & education sectors, and cut subsidies that make energy affordable to all citizens. Coup plotters like EU-fucker Nuland repeatedly demanded that the Ukrainian government enact the ‘necessary’ reforms.

     In 2013 Ukrainian President Viktor Yanukovych opposed these IMF changes, ending trade integration talks with the EU, and restarted economic negotiations with Russia. The whites then funded bloody ‘nationalist’ protests in Kiev to topple his government.

     Assistant Secretary Nuland openly distributed cookies to protesters, and later, got caught saying, ‘Fuck the EU.’ Sen John McCain also joined demonstrators. Flanked by leaders of the fascist Svoboda Party, McCain declared, ‘America is with you.’ By then, new NATO members had bought nearly $17 billion in US weapons. Military installations, including 6 NATO command posts, ballooned across Eastern Europe.

     After the 2014 US-funded coup, the new Ukrainian government quickly restarted the EU deal. After cutting heating subsidies in half, it secured a $27billion ‘commitment’ from the IMF.

• The bloody coup in Ukraine happened when Nuland was US President Obama’s Assistant Secretary of State for European & Eurasian Affairs, from 2013-17. Nuland was the US State Department’s coordinator of the Ukrainian crisis, and the boss of all 50 US embassies in Europe and Eurasia.

     Just before the coup, Nuland telephoned US ambassador to Ukraine Geoffrey Pyatt to choose which opposition officials would staff a prospective new government. It was also agreed that someone ‘high profile’ be brought in to push things along. That someone was Joe Biden. When the call was leaked, media headlined Nuland’s ‘Fuck the EU’ – while the evidence of the US arranging a coup was downplayed. Washington Post had to admit that the call showed ‘a deep degree of US involvement in affairs that Washington officially says are Ukraine’s to resolve’, but the media always ignores this history in covering the US/Ukraine/Russia relationship. In fact, Nuland shows the continuity in US imperialist policy, regardless of party in power.

     During former US President George W Bush’s administration, Nuland was Vice President Dick Cheney’s principal deputy national security advisor. Nuland’s husband Robert Kagan co-founded Project for the New American Century, one of the biggest boosters of the murderous US invasion of Iraq. During Obama’s regime, she worked under Hillary Clinton as US State Department spokesperson.

     In Europe, Nuland was the leading advocate for shipping weapons to Kiev. During the annual Munich Security Conference, Nuland delivered an off-the-record briefing to the visiting US delegation. A German newspaper Bild reporter snuck into the briefing room and published a report that reverberated across Germany, which English-language media ignored. The report said Nuland pushed US politicians to ship weapons to Ukraine and belittled EU diplomatic efforts in Russia. The weapons could not make Ukraine defeat Russia, but ‘raise the price for Putin on the battlefield’. Nuland added, ‘I would like to urge you to use the word “defensive system” to describe what we would be delivering against Putin’s offensive systems.’

     Both parties in US Congress then overwhelmingly passed legislation to provide lethal aid to Ukraine, including ammunition, troop-operated surveillance drones, and antitank weapons.

     After Obama’s term ended, Nuland joined George Soros’ National Endowment for Democracy (NED)’s board of directors. The US funds anti-government agitation through USAID & NED, In 2013 Nuland said the US had spent $5billion promoting ‘democracy’ in Ukraine since 1991. The money went toward supporting ‘senior officials in the Ukraine government…, the business community as well as opposition civil society’ who promote US goals. In 2013, the NED president described Ukraine as the ‘biggest prize’ in the East/West rivalry.

     NED has poured $170 million a year into organizations dedicated to defending or installing US-puppet regimes. NED functions by ‘doing in public what the CIA used to do in private’. They target governments who oppose US military or economic policy, stirring up anti-government opposition.

     This week Nuland announced, the US is afraid that research on biological weapons may fall into the hands of Russia. She thus admitted the US has – at the very least – knowledge of biolabs in Ukraine. Nuland is said to have acted pretty nervous, implying she funded research that was illegal under US law and outsourced it to Ukraine’s fascists! Some suggest Nuland is exposing this to lay the groundwork for Syria 2.0 false flag sensationalism, this time claiming bioweapons are used by Russia. Sri Lankan media is already promoting this US line (ee Sovereignty, Russia could launch chemical attack in Ukraine – News1^st)

• False Equivalences: Comparing India’s invasions of Sri Lanka, with Russia’s incursion into the Ukraine, is another example of the false equivalences that Sri Lanka is subjected to. Sri Lanka has a longer contiguous and continuous history as an independent county than even India. Kiev was the first capital of Russia.

• Last ee spoke of the Concert of Europe, formed in 1815, for imperialists to speak in one voice. It lasted until the imperialists escalated fighting among one another, culminating in their World War 1.

     Who is in the Concert of Europe? Who are these foreign envoys who stand on Sri Lankan lawns to rail against Russia?! Why, it’s the same ‘Core Group’ who rail against Sri Lanka! Make no mistake, ‘Europe’ includes not just the mainland, but also their settler states (US, Canada, Australia) as well as their old colonies which have new nameboards proclaiming to be ‘independent’, like Sri Lanka.

     Who is in the present Concert of Europe? This includes not just their war machines, industrial machines, economic machines (IMF, World Bank etc) but also their media machines, which include their NGOs, social media (Facebook, Twitter, Instagram) etc.

• Capitalist news is written to be forgotten: The Daily Amnesia. The idea is to swamp and saturate with certain messages. The whites can murder in the tens of millions but it’s soon forgotten. And lesser demons are trumpeted. The media in Sri Lanka keeps referring to an ‘international community’, when it is clearly minority whites they are speaking of.

• The best way for Sri Lanka to respond to its critics, is to develop the country. Instead, like a running sore, the old harangue of import-heavy exports is repeated over and over again, even as the multinational corporations from these very same countries, England (Unilever, CTC, CIC), Germany (DIMO), keep feasting off the blood of the people. Core Group indeed! Why, they are the League of Multinationals in Sri Lanka!

• What a fabulous, lovely people and country! What contrived maladies! All promises for advancing independence based on a modern industrial renaissance are back on hold. Not just on hold, the country has been taken hostage again. More accurately, the oligarchy adamantly refuses to change the colonial import-export game, and their suited shills cry, export, export!, as if it’s oxygen itself.

     We’re laughed at: there were never any real plans for transformation. No doubt, pandemic and US-driven inflation proffers alibis for capitalism’s increasingly frequent busts. Yet, multiple division of the country threatens, with an IPKF2, an Eelam War 5, an Arabistan1, a Southern War 3, and a World War 3, clouding the horizon.

     Mind you, adults let alone the youth have no idea what modern industrial production means. The promises of even a true development bank seem gone with the hulang. All talk is of repaying debts, more loans, petrol plus dollars, keeping lights off, balance of payments. False gods. False explanations. Meanwhile, BBC has even made a movie about Brandix, a huge promoter of fake exports! (ee Media).

     Independence remains just the echo of a promise. Independence is a dressed-up ad campaign, with wrapping (flag), logo (name) and ditty (anthem), sponsored by Unilever. Our critics say this government never ever meant to change a merchant-dominated system. Haven’t all the governments been long too deep in the import mafia pockets? Their money stashed in white hideouts. Their mindset that of the petty merchant?

• When the criminal private sector wants to whitewash criminal activity, they just change the words. The economists, who finger-wag about ‘rule of law’, call the illegal dollar trading mafia – ‘the kerb market‘, ‘informal channels’, etc! They demand the government conform to such ‘market’ demands. Markets and dollars dominated by multinationals corporations (MNCs) and cartels.

     The Central Bank seeks informants to crack down on unauthorized moneychangers. Smaller fishers can be found everywhere, crying out, ‘Change money, change money!’ especially where tourists amble. Yet it’s the big capitalist sharks like the MNCs and their transfer pricing sluices, that pace the bleeding.

• This ee recalls the Indian praxixian Aijaz Ahmad (1941-2022) who made the transition this week. Ahmad’s great classic In Theory and other writings, took on the highly promoted literature of Arundhati Roy’s God of Small Things, Salman Rushdie’s Satanic Verses, Edward Said’s Orientalism, Benedict Anderson’s Imagined Communities, etc. Aijaz also ‘deconstructed’ the highly promoted philosophies of ‘postcolonialism/ postmodernism’, and exposed the art/academic-business role in reproducing the imperialist/capitalist system. He’s completely ignored by our John D’Oyly English Department of course. Aijaz opposed England’s horrific ‘partition’ of India. Like Maulana Azad, India’s first Minister of Education, Ahmad saw separation would shed more blood for a 100 years more. So! May 100,000 and more Aijazes bloom, especially at this hour when imperialism wishes to restart another Eelam & Arabistan War in Lanka.

• International Women’s Day 2022 – ‘On 28 February 1909, women socialists in the USA organized huge demonstrations all over the country demanding political rights for working women. This was the first “Woman’s Day.” In 1910, at the 2^nd International Conference of Working Women, Clara Zetkin brought forward the question of organizing an International Working Women’s Day. The conference decided that every year, in every country, they should celebrate on the same day a “Women’s Day” under the slogan “The vote for women will unite our strength in the struggle for socialism.” The decision taken at the 2^nd International Congress of Socialist Women was not left on paper. It was decided to hold the first International Women’s Day on 19 March 1911. Our German comrades picked the day because of its historic importance for the German proletariat. On March 19 in the year of the 1848 revolution, the Prussian king recognized for the first time the strength of the armed people and gave way before the threat of a proletarian uprising. Among the many promises he made, which he later failed to keep, was the introduction of votes for women. In 1911, the first IWD’s success exceeded all expectations. Germany and Austria on Working Women’s Day was one seething, trembling sea of women. In 1913, IWD was transferred to the 8th of March. This day has remained the working women’s day of militancy. Then came the great, great year of 1917. Hunger, cold and trials of war broke the patience of the women workers and the peasant women of Russia. In 1917, on March 8, on Working Women’s Day, they came out boldly in the streets of Petrograd.’ (excerpted from How & Why Was Women’s Day Organized?, Alexandra Kollontai – marxists.org/archive/kollonta/1920/womens-day.htm)

• ‘Constituency influence in the US Congress found a fairly strong correlation between a district’s views and its congressional representative’s record on racial issues, but only a weak fit between the district’s economic views and the representative’s record. This result is exactly what an investment approach would predict, but, somehow, the paradox has never been perceived by [academia]. We may also note that in many instances where new issues are being invented, the target group is likely to be very far from median voters. Thus, for example, in the 1980s, the basic GOP [Republican] strategy for the White House was rather clearly to appeal broadly to wealthy USAmericans, while trying to splinter blue-collar Democrats around race, gun control, pornography, etc.’ – Tom Ferguson, Golden Rule: the Investment Theory of Party Competition & the Logic of Money-driven Political Systems

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B. Special Focus_

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B1. Imperialist Development Finance Institutions Hijack Banks in Sri Lanka

Recent business news headlined: ‘DFIs snub Sri Lanka’s commercial banks seeking credit lines’. Yet DFIs are not coy about taking over local banks. And the Central Bank of Sri Lanka has not been allowed to fully regulate or govern them.

     Development Finance Institutions (DFIs), sound philanthropic, but they are pushing their country’s industrial goods, drowning local home markets. These DFIs are state-sponsored fronts for imperialist industrial capital. So ee calls them IDFIs – Imperialist Development Finance Institutions.

• In 2016, India extended the United Nations (Privileges & Immunities) Act, 1947 (46 of 1947), which confers legal immunity like those enjoyed by foreign missions and diplomats, to the International Finance Corporation (IFC), the private sector lending arm of the World Bank Group. The IFC has been involved with many environmentally and socially damaging projects. Yet, the UN Act provides jurisdictional personality to the institution that it’s granted to. It also provides immunity to the officials of the organization in case of any disputes of a private nature and disputes involving any official of the organization. This will provide immunity to the organization and its officials against legal action in India.

• The World Bank’s International Finance Corporation (IFC) has taken over the so-called private ‘local’ Commercial Bank (ComBank’s last Chairman was former Chief Justice K Sripavan! Talk about separation of powers!). Norfund, the Norwegian Investment Fund for Developing Countries, is the single largest shareholder of NDB Bank. LB Finance obtained it first dollar facility from FMO, the Dutch Entrepreneurial Development Bank. LOLC and Sanasa Development Bank have obtained injections from many of the above: IFC, Norfund, FMO are all known as Development Finance Institutions (DFIs). The Commercial Bank of Ceylon secured a US$50million loan from the CDC Group, England’s ‘development’ finance institution.

     In October 2020, the Commercial Bank announced, the WB’s IFC, IFC Financial Institutions Growth (FIG) Fund LP and the IFC Emerging Asia (EA) Fund LP was its largest shareholder. In Jan 2021: the IFC invested $25million in Nations Trust Bank. In 2020 the IFC also invested $175mn in John Keells Holdings (JKH), of which NTB is a subsidiary. The IFC also loaned US$7mn to Sunshine Holdings, to buy Unilever-linked confectionery manufacturing company Daintee. Feb 2021, the IFC proposed US$50mn long-term financing facility to Brandix Lanka. (PS: Strangely, Daily Mirror 28/02/22, claimed DFCC Bank with 12.12% stake was ComBank’s single largest shareholder, and the Employees’ Provident Fund with 8.62% was its third largest shareholder)

     Imperialist DFIs are set up to both protect their local markets as well as to capture foreign markets.

• Imperialist DFIs (IDFIs) are divided into: 1) Bilateral DFIs: OPIC (US), CDC (England), DEG (Germany), FMO (Netherlands), PROPARCO (France), BIO (Belgium). 2) Regional DFIs: EBRD – European Bank for Reconstruction & Development, EIB – European Investment Bank, ADB – Asian Development Bank, IADB – Inter American Development Bank, AfDB – African Development Bank. 3) Multilateral DFIs: The World Bank’s IFC – International Finance Corporation (1956), The WB’s MIGA – Multilateral Investment Guarantee Agency (1988).

IDFIs are Faking Risk & Development: Development Finance Institutions [IDFIs are supposed to] play a crucial role in providing higher risk loans, equity positions and risk guarantee instruments in support of private sector investments in underdeveloping countries, including in infrastructure.

     IDFIs are subsidised by imperialist governments to target countries that ‘restrict access’ to domestic and foreign capital markets. They specialise in loans with longer maturities and other financial products to finance long term infrastructure projects. In fact, protected by their governments, the DFIs actually take little risk.

     IDFIs Prevent Modern Industrialization & Promote Infrastructure & SMEs: They prevent modern industrial production in underdeveloping countries, to sell their Industrial Machinery & Energy: Public-private investments(PPI) in infrastructure in underdeveloping countries was $47.8billion in 2005 (Telecommunications 25%, Energy 29%). Other key sectors are transportation & water supply, etc. Selling machinery and experts and services! (see SBD de Silva, below)

     IDFIs are Imperialist State-Enterprises: DFIs have substantial resources backed by guarantees and capital endowments from governments in imperialist countries. In 2005 total commitments (as loans, equity, guarantees & debt securities) of the main regional, multilateral and bilateral DFIs totalled $45billion. Of this, $21.3bn went to support the private sector. The combined 2005 committed portfolio was $182bn.

     IDFIs pay no taxes: Levels of liquidity in DFIs are higher than in commercial banks because of large levels of paid-in stock; additional ‘callable’ capital; exemptions on dividends and corporation tax (eg, IFC, EBRD, CDC Group, DEG, Proparco & EIB are all exempt from paying tax on profits); cost of borrowing at sub LIBOR due to their institutional AAA credit ratings and implicit state guarantee; ncome from trading in borrowings.

     IDFIs also target investment laws & financial reform programs to enable ‘development of private enterprise’, charging for research and expertise.

     IDFIs are Opaque: DFIs operate off state ‘subsidies’ (guarantees, commitments or capital replenishments). Comprehensive data on DFIs are not reported separately in main development finance publications. There’s no central data gathering exercise that would collect data on all DFIs’ Technical Assistance support to the private sector, and ‘tied’ aid that requires buying their industrial products.

(based on Velde & Warner’s Use of Subsidies by Development Finance Institutions in the Infrastructure Sector)

_____________________

B2. Sri Lanka’s Development Banks Turned into Undercover Agents of Multinational Corporations

DFCC & NDB in recent years have become purely commercial operations after the two were privatized. DFCC now cannot be considered a development bank given that it is controlled by one individual (Harry Jayawardena) and risk-taking is not in its vocabulary anymore… Ironically, its big business or political cronies who take the money and run, and loans are written off as a result.

– 2007 (sundaytimes.lk/070916/FinancialTimes/ft307.html)

‘For the 7^th consecutive year, [World Bank’s] IFC

partnered with the Colombo Stock Exchange (CSE)

to ‘Ring the Bell for Gender Equality.’

Celebrated in line with the International Women’s Day…’

‘In the process of concentration and centralization of capital, a novel element is the role played by institutionalized funding agencies, such as the World Bank and the Asian Development Bank, and by consortia of private firms. These agencies and consortia act as promoters mobilizing capital in areas and at levels where individual MNCs (multinational corporations) cannot operate. The investors are not mere conglomerates but a conglomerate of conglomerates.

     This is not to be understood to mean that the MNCS keep aloof or have no undercover role to play in the functioning of these agencies. The agencies and consortia provide a security blanket for private capital from various countries. They negotiate with a host country for an investment package which combines finance, technology, capital equipment and managerial services.

     The safety of the investment is further ensured through the involvement of the governments in the periphery. Investment is in infrastructure projects and, to a lesser extent, in state industrial enterprises producing capital goods. The investment results in large sales of equipment and machinery and opens up secondary opportunities for agribusiness and for engineering firms. The predominance of loan capital, unlike earlier flows of private capital in the form of equity, results in a periodic repatriation of the invested capital irrespective of the financial viability of the projects. The inefficiency and extravagance of the bureaucracies in the periphery and the vast opportunities for corruption cause the capital costs of these projects to escalate sharply. Such investments, nevertheless, have a pump-priming effect on the economies of the centre, helping to ward off stagflation in the centre, besides conferring direct financial gain on the investors.’ – SBD de Silva, The Political Economy of Underdevelopment

• Imperialist DFIs Shun Local Banks – ‘Sri Lankan banks, aggressively pursuing foreign credit lines [dollars, dollars, dollars!] to boost their foreign-exchange reserves, are shunned by these creditors [IDFIs] as the forex crunch escalates. Amidst ‘the exchange rate issues, lack of reserves and liquidity in the banking industry’, certain commercial banks were canvassing development finance institutions (DFIs) to secure credit lines and beef up their foreign reserves. But, the story continues, DFIs extending credit lines with low interest rates are becoming exceedingly conservative in their lending or being reluctant to do so. With Standard & Poor, Moody and Fitch again downgrading Sri Lanka, DFIs claim to have limitations in investing and extending credit lines to ‘C-rated nations’. So bankers claim they have to go to portfolio managers accepting higher risks who extend loans at high interest yet limited to smaller amounts. Many banks are targeting small funding lines from certain funding agencies and hedge funds. These also come at higher interest rates. All the banks are sending marketing teams to secure migrant worker remittances in popular corridors such as West Asia.’ – sundaytimes.lk/220220/business-times/dfis-snub-banks-seeking-credit-lines-473270.html

• Financing Reindustrialization: Bring back Real Development Banks

A state can establish DFIs to fulfill certain development or strategic objectives (rather than maximize profits as commercial banks do). The state channels credit to key sectors or segments that are underserviced by the private financial system. They can promote social development, and regional integration, providing long-term capital to industry, providing large-scale, high-risk and long-term finance to projects or sectors with positive externalities, and promoting national trade. Development banks are either meant for general development or to focus on specific sectors/segments ranging from agriculture, housing and infrastructure to SMEs and startups.

     DFIs can be defined as state-established policy tools that perform a mandate given by the state through channeling credit to key sectors or segments that are underserviced by the private financial system. Shutting down development finance institutions was a mistake, because their role was necessary and indispensable.

     Market failures are prevalent in both imperialist countries and underdeveloping countries. Industrialized countries such as Germany and Japan therefore retain their development banks despite having powerful full-fledged financial systems.

     During financial crises, capitalist industrial countries increase support for development banks (DB), for these can play a ‘countercyclical’ role. This means when there are financial crises, and little profits, DBs step in to prop up their companies, both public and private.

The rapid industrialization of continental Europe in the 19^th century was fueled by prototypes of modern DFIs that provided large-scale and long-term finance. France set up the Crédit Mobilier (CM) in 1852, as ‘a potent force for economic development’ in Europe, providing much-needed infrastructure financing. CM later became the model for similar government-supported financial institutions in Europe.

     For latecomers to industrialization, there is greater pressure for ‘bigness’ because of the scope of the industrialization movement, the larger average size of factories, and the concentration of relatively high capital-intensive industrialization processes. By contrast, in England, the first industrialized country, the gradual industrialization process obviated the pressure for developing any special institutional mechanisms for providing long-term capital to industry.

      As economies climb up the industrial ladder, new firms entering the more advanced industrial sector, find it exceedingly difficult to obtain finance for their initial investments due to high initial losses and long learning periods. Hence, development banks are created to meet the financing needs of pioneering firms in a nonexistent or infant manufacturing sector, since commercial banks or capital markets are reluctant to socialize high risks associated with financing industrialization at its early stage.

     HICs (high-income, ie, imperialist countries) with full-fledged financial systems and competitive industries still need export-import banks to promote national trade. The US Ex-Im Bank established in 1934 reveals that it is still regarded as ‘a continuing solution for imperfections in US financial markets’, especially when it comes to the support of small exporters in risky underdeveloping countries to which private finance fail to provide financing. Moreover, the US Ex-Im Bank has been deployed as a key instrument for ‘national economic defense’, as Lawrence H Summers, former Secretary of the US Treasury, claims, ‘Just as the real virtue of a strong military is that can it prevent wars, the virtue of maintaining a strong and credible Ex-Im Bank is that it can help to deter abusive subsidies by other countries – and to reduce the chance that the US will need to resort to costly subsidies.’

• The World Bank Group has supported the establishment of privately owned development finance companies with the government support to provide industrial finance and foster entrepreneurship after World War 2. But only to imperialist colonies. Most DFIs were established after their WW2. Such countries established development finance institutions for postwar reconstruction, eg, Germany’s KfW in 1948, Japan Development Bank (JDB) in 1951

     Other successful industrialized countries established DFIs to promote structural transformation and speed up the industrialization process, eg, the Korea Development Bank in 1954, Development Bank of Singapore, founded in 1968.

     In the catching-up industrialization process, DFIs have functioned as public entrepreneurs with comprehensive long-term visions, acted decisively despite uncertainty and risk, and fostered learning-by-doing strategies to trigger and sustain transformation agendas.

     Upon gaining limited political independence, underdeveloping countries in Asia, Africa & non-Anglo-Americas, tried to achieve faster industrialization, creating their own national DFIs, eg, the Industrial Finance Corporation of India (1948), Development Bank of the Philippines (1947), Industrial Development Bank of Turkey (1950), Brazilian Development Bank (1952), Industrial Development Bank of Kenya (1954), Industrial Credit and Investment Corporation of India (1955), NIDC Development Bank in Nepal (1959), Industrial Development Bank of India (1964). The largest share of 64 NDBs (37%) were established between 1945-79.  

     In India, state financial corporations (SFCs) and state industrial development corporations (SIDCs) were set up in the 1950s to provide long-term finance for small and medium enterprises in the manufacturing sector of respective states, with funds from their respective governments on concessional terms. Investment institutions , eg, Life Insurance Corporation of India (LIC), Unit Trust of India (UTI) and General Insurance Corporation of India (GIC), were set up. All these DFIs made a significant contribution to the provision of industrial finance in India.

     Along with the expansion of national DFIs, multilateral DFIs expanded after WW2 and reached a peak in the 1970s. Under US control, the International Bank for Reconstruction & Development (IBRD), the parent institution of the World Bank Group, was established in 1944. Then regional development banks were set up, seg, European Investment Bank (EIB) in 1958, Inter-American Development Bank (IDB) in 1959, African Development Bank (AfDB) in 1964, Asian Development Bank (ADB) in 1966, East African Development Bank (EADB) in 1967, Development Bank of Latin America (CAF) in 1970, Islamic Development Bank (IsDB) in 1973.

     The momentum of establishing DFIs at both multilateral & national level was deliberately stalled in the 1980s. Development banks came under fire after the ‘debt crisis’ in the mid-1980s, with the dominance of ‘free market’ capitalism, dominated by private fund managers and the rating agencies. Development banks were accused of bailing out companies on the verge of bankruptcy. Worse still, to seek rents, government officials put cheap money from development banks not into critical areas for economic and social benefits, but into politically-connected firms with access to funds from capital markets or commercial banks. In the non-Anglo-Americas the members of the Association of Development Finance Institutions in Latin America (ALIDE) shrank from 171 to 73 in the mid-1980s. Liquidations included major banks in Peru, Mexico, Colombia, Venezuela, Nicaragua, among others.

     In the 1980s, under the dominant Washington Consensus, the IMF and the World Bank imposed structural adjustment program (SAP) on the underdeveloping world, leading to the privatization of such banks: eg, Banades, the stated-owned national development bank of Nicaragua, was forced to privatize and to restructure as part of the SAP, under the influence of the US government and multilateral institutions such as WB & IDB.

     There was a substantial increase in newly established NDFIs in the 1990s. 20% of the newly established DFIs were located in newly independent Eastern European countries, after the retreat of the former Soviet Union. But they robbed those countries. ‘Emerging’ economies were another driving force behind the peak, but they developed their countries: eg, the People’s Republic of China established 3 policy banks, the China Development Bank, Export Import Bank of China, and Agricultural Development Bank of China, in 1994.

     In India, there were errors of omission. Infrastructure was excluded from their portfolios. There was almost no coordination between their lending and industrial policy objectives or priorities, so there was no preferred access for pharmaceuticals, clothing, 2wheelers, auto components or information technology. There were errors of commission as well. DFIs provided preferential access to some entrepreneurs, firms or business houses, so that the allocation of resources was shaped by the borrowers rather than the lenders. The DFIs and the government were both responsible for the behest lending that often led to bad loans. The most serious error of commission by the government was the deliberate winding down and premature closure of DFIs. ICICI and IDBI were turned into commercial banks. SFCs and SIDCs stopped such lending. Investment institutions never had this formal mandate, and, except for LIC, withdrew from such lending. (From: ‘Financing reindustrialization: bring back development banks’ by Deepak Nayyar)

     The role of development banks was further sabotaged during the early 2000s in underdeveloping countries. DFIs are having a renaissance today. Despite the promises of ‘free-market’ capitalism, privatization is not a panacea to effectively provide long-term finance. Commercial banks and capital markets shy away from risky and long-cycle financing projects, as they often prioritize short-term performance or benefits. Official development assistance (ODA) aka Foreign Aid also shifted to social sectors such as health and basic education [to privatize them?] and away from infrastructure, leading to a growing gap in infrastructure financing for many developing countries. This partly contributed to the resurgence of DFIs as key instruments for filling vast infrastructure financing gaps. Environmental challenges are another driver behind the renaissance of DFIs, even in HICs. A majority of trade-focused DFIs are concentrated in HICs, to impose their industrial goods to keep underdeveloping the rest of the world. (based on: Xu, Ren & Wu, 2019, ‘Mapping Development Finance Institutions Worldwide: Definitions, Rationales & Varieties.’ New Structural Development Financing Research Report No1 – nse.pku.edu.cn/dfidatabase/databasereports/517164.htm)

__________________________________________________________

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.

• French, Bangladesh and Indian Navy Ships arrive in Colombo and Hambantota

– timesonline.lk/news-online/French-Bangladesh-and-Indian-Navy-Ships-arrive-in-Colombo-and-Hambantota/2-1137016

• US and English warships detain Yemen-bound fuel ships

– radiohc.cu/en/noticias/internacionales/288848-us-and-british-warships-detain-yemen-bound-fuel-ships

• English MP of Indian origin wants Gen. Shavendra brought under int’l sanction regime

– island.lk/uk-mp-of-indian-origin-wants-gen-shavendra-brought-under-intl-sanction-regime/

• White Ambassadors to Sri Lanka Stand #UnitedwithUkraine

– island.lk/ambassadors-to-sri-lanka-stand-unitedwithukraine/

• Provincial Councils & Sri Lanka’s “New Constitution” – Throw out both – Waduge

– lankaweb.com/news/items/2022/03/10/provincial-councils-sri-lankas-new-constitution-throw-out-both/

• Sri Lanka’s Geneva trotting traitors – Waduge

– lankaweb.com https://www./news/items/2022/03/09/sri-lankas-geneva-trotting-traitors/

• Cardinal, UNP, LTTE/TNA & Associates – Waduge

– lankaweb.com/news/items/2022/03/11/cardinal-unp-ltte-tna-associates/

• India is trying to fish in troubled Sri Lankan waters.

– lankaweb.com/news/items/2022/03/11/shame-shame-for-the-greatness-of-india-when-sri-lanka-in-dire-distress-asked-for-a-distressed-loan-instead-of-helping-its-neighbor-opportunist-india-is-trying-to-fish-in-troubled-sri-lanka/

• Erasing The Eelam Victory Part 16C, D1&2,

– lankaweb.com/news/items/2022/03/09/erasing-the-eelam-victory-part-16c/

– lankaweb.com/news/items/2022/03/11/erasing-the-eelam-victory-pt-16d-pt-1/

– lankaweb.com/news/items/2022/03/11/erasing-the-eelam-victory-part-16d-pt-2/

• Udaya, Wimal & Basil – Nalin de Silva

– kalaya.org/2022/03/blog-post_4.html

• The Tamil Question North but not East or in the Hills & India’s Pound of Flesh – Nalin de Silva

– kalaya.org/2022/03/blog-post_7.html

• Need for leadership that can make tough decisions – Nalin de Silva

– kalaya.org/2022/03/blog-post_5.html

• Tribute to a patriot – Hassina Leelarathne

– island.lk/tribute-to-a-patriot-hassinaleelarathne/

• White People Keep Looking For Hitler Everywhere But In The Mirror

– indi.ca

• TNA finally gets to meet President on Tuesday?

– island.lk/tna-finally-gets-to-meet-president-on-tuesday/

– dailymirror.lk/breaking_news/President-Gotabaya-Rajapaksa-to-meet-ITAK-on-March-15-TNA-MP/108-232881

• N. Q. Dias Anticipated an Armed Tamil struggle with Indian support: Jeyaraj

– dailymirror.lk/dbs-jeyaraj-column/N-Q-Dias-Anticipated-an-Armed-Tamil-struggle-with-Indian-support/192-232415

• SL’s requests for loans from friendly countries yet to materialise: Cabraal

– ft.lk/front-page/SL-s-requests-for-loans-from-friendly-countries-yet-to-materialise-Cabraal/44-731604

• Take necessary steps to address Tamil aspirations, India urges Sri Lanka

– thehindu.com/news/international/take-necessary-steps-to-address-tamil-aspirations-india-urges-sri-lanka/article65191560.ece

• In Sri Lanka’s interest to fulfil expectations of Tamils for equality and justice: India at UNHRC

– economictimes.indiatimes.com/news/india/in-sri-lankas-own-interest-that-expectations-of-tamils-for-equality-and-justice-are-fulfilled-india-at-unhrc/articleshow/90013846.cms

• Sri Lanka foreign minister to visit India soon; India assures continued support

– economynext.com/sri-lanka-foreign-minister-to-visit-india-soon-india-assures-continued-support-91398/

– timesonline.lk/news-online/Basil-to-visit-India-during-second-half-of-March/2-1136982

• Delhi says it cannot crisis manage Lanka’s economic problem without a proper road map

– sundaytimes.lk/220306/columns/sacking-of-two-ministers-exposes-division-in-ruling-coalition-475393.html

• India imposes tough conditions for US$ 1 billion loan

‘Seeks road map to overcome economic crisis and outlines strategic projects in North & East; Basil’s visit off till then’

– sundaytimes.lk/220306/news/india-imposes-tough-conditions-for-us-1-billion-loan-475485.html

– newswire.lk/2022/03/07/india-imposes-tough-conditions-for-us-1-billion-loan-sunday-times/

• Indian HC releases details of Basil & Indian FM telephone discussion

– newswire.lk/2022/03/07/indian-hc-release-details-of-basil-indian-fm-telephone-dn/

• Amount of fuel imported under USD 500 mn Indian credit line to be less due to steep hike price

– island.lk/amount-of-fuel-to-be-imported-under-usd-500-mn-indian-credit-line-will-be-less-due-to-steep-hike-price/

• India gives US$500mn credit line, hopes to end fuel shortages

– economynext.com/india-gives-us500mn-credit-line-hopes-to-end-fuel-shortages-91513/

• Moragoda meets top Indian security officials
– island.lk/moragoda-meets-top-indian-security-officials/

• High Commissioner Moragoda meets Indian minister to discuss energy cooperation

– ft.lk/ft_tv/High-Commissioner-Moragoda-meets-Indian-minister-to-discuss-energy-cooperation/10520-731842

– lankaweb.com/news/items/2022/03/10/high-commissioner-moragoda-meets-the-minister-of-petroleum-natural-gas-and-housing-urban-affairs-of-india-to-discuss-bilateral-energy-cooperation/

• Did Lanka barter vital UN vote for Indian oil?

– sundaytimes.lk/220306/columns/good-riddance-of-bad-rubbish-475251.html

• No Western countries condemned India for violating Sri Lanka’s sovereignty back in 1987

– sundaytimes.lk/220306/editorial/fighting-economic-war-not-one-man-job-475401.html

• Lanka’s abstention linked to Moscow’s US$ 300m credit line?

– sundaytimes.lk/220306/columns/cabraals-logic-better-a-recovery-plan-criticised-than-no-plan-at-all-475403.html

• New US Ambassador calls on PM; commits to boost ties with SL

Central Bank Governor Nivard Cabraal, State Minister Tharaka Balasuriya, and Secretary to the Prime Minister Anura Dissanayake were also present’

– ft.lk/news/New-US-Ambassador-calls-on-PM-commits-to-boost-ties-with-SL/56-731592

• US Political Affairs Under Secretary of State to visit SL

– themorning.lk/us-political-affairs-under-secretary-of-state-to-visit-sl/

• US & South Korean ambassadors conspire in SL

– newsfirst.lk/2022/03/10/us-south-korean-ambassadors-discuss-cooperation-in-sl/

• SL at the heart of Indo-Pacific to play leading role: U.S. Ambassador at Pathfinder Foundation

– dailymirror.lk/breaking_news/SL-at-the-heart-of-Indo-Pacific-to-play-leading-role-U-S-Ambassador/108-232717

• England regrets setbacks in several emblematic human rights cases in Sri Lanka

– ft.lk/news/UK-regrets-setbacks-in-several-emblematic-human-rights-cases-in-Sri-Lanka/56-731764

• Nine chiefs of foreign missions in Colombo gather with CBK

– island.lk/nine-chiefs-of-foreign-missions-in-colombo-gather/

– ft.lk/news/Diplomatic-message-on-Breaking-the-Bias/56-731765

• 49th UNHRC session: USA urges GoSL to engage Tamil, Muslim parties

– themorning.lk/49th-unhrc-session-us-urges-gosl-to-engage-tamil-muslim-parties/

• Serious anomalies and weaknesses in UN rights chief’s report, Sri Lanka says

– lankaweb.com/news/items/2022/03/05/serious-anomalies-and-weaknesses-in-un-rights-chiefs-report-sri-lanka-says/

• Easter attacks allegations made against Sarath Weerasekera

– themorning.lk/easter-attacks-allegations-made-against-sarath-weerasekera/

• Cardinal Removes his Sinhala Buddhist Ves Muhuna

– kalaya.org/2022/03/blog-post_9.html

• Cardinal tells UNHRC Easter Sunday carnage was part of a grand political plot

– island.lk/cardinal-tells-unhrc-easter-sunday-carnage-was-part-of-a-grand-political-plot/

– ft.lk/front-page/Archbishop-says-Easter-Sunday-attacks-not-purely-work-of-Islamic-extremists-but-part-of-grand-political-plot/44-731658

– lankaweb.com/news/items/2022/03/07/easter-attacks-was-a-grand-political-plot-sri-lanka-cardinal-tells-unhrc/

– island.lk/wheels-within-wheels/

– lankaweb.com/news/items/2022/03/09/a-request-to-archbishop-of-colombo-cardinal-malcolm-ranjith-fernando/

• Justice Yasantha Kodagoda recuses himself from considering Ex-CID Chief’s FR

– newsfirst.lk/2022/03/10/justice-yasantha-kodagoda-recuses-himself-from-considering-ex-cid-chiefs-fr/

• Life imprisonment for LTTE intelligence wing cadre amidst bid to abolish PTA

– island.lk/life-imprisonment-for-ltte-intelligence-wing-cadre-amidst-bid-to-abolish-pta/

• 50 years of Sri Lanka-Bangladesh Fraternal Ties

– lankaweb.com/news/items/2022/03/05/50-years-of-sri-lanka-bangladesh-fraternal-ties/

• Expectations from the KSA Foreign Minister’s Visit to Bangladesh

– lankaweb.com/news/items/2022/03/10/expectations-from-the-ksa-foreign-ministers-visit-to-bangladesh/

• Ukrainian President should learn from former SL President JR – Ranil

– newswire.lk/2022/03/08/ukrainian-president-should-learn-from-former-sl-president-jr-ranil/

• Ranil Wickramasinghe goes Eurasian

– youtube.com/watch?v=_EP1xaFKlik

• Putin has a point but should have resisted – Chanaka Bandarage

– lankaweb.com/news/items/2022/03/06/putin-has-a-point-but-should-have-resisted/

• If the Ukraine war is not ended now, millions of poor people will die of hunger
– dailymirror.lk/opinion/If-the-Ukraine-war-is-not-ended-now-millions-of-poor-people-will-die-of-hunger/231-232804

• War in Ukraine: US Indo-Pacific strategy suffers as India skips several votes

– island.lk/war-in-ukraine-us-indo-pacific-strategy-suffers-as-india-skips-several-votes/

• #IstandwithRussia #IstandwithPutin are among top trending hashtags in India

– gilbertdoctorow.com/2022/03/05/indias-moment-to-shine/

• Ukraine Conflict: What’s Behind Southeast Asia’s Muted Response?

– newsclick.in/DW/ukraine-conflict-whats-behind-southeast-asias-muted-response

• China warns U.S. against establishing Pacific NATO

– radiohc.cu/en/noticias/internacionales/288447-china-warns-us-against-establishing-pacific-nato

• US National Security Council released disinformation on Ukraine crisis to smear China

– globaltimes.cn/page/202203/1254271.shtml

• China ‘prepared for’ S. Korea power shift

‘the new generation of the country has less desire for reunification and are more hostile and nationalistic in handling ties with China.’

– globaltimes.cn/page/202203/1254360.shtml

• US officials in Venezuela to separate Russia from its remaining Latin American allies.

– nytimes.com/2022/03/05/world/americas/venezuela-russia-usa.html

• Zelensky And The Fascists: “He will hang on some tree on Khreshchatyk”

– moonofalabama.org/2022/03/zelensky-and-the-fascists-he-will-hang-on-some-tree-on-khreshchatyk

• Kim Iversen Debunks FAKE Russia-Ukraine War Videos Spread Widely On Social Media

– lankaweb.com/news/items/2022/03/06/kim-iversen-debunks-fake-russia-ukraine-war-videos-spread-widely-on-social-media/

• Ukrainian “terrorists” using civilian population as human shields

– gilbertdoctorow.com/2022/03/05/bunny-rabbits-and-the-big-bad-wolf-ukraine-and-russia-through-the-lens-of-western-reporting/

• Ukrainian Nationalists Mined Reactor at Nuclear Facility in Kharkov, Russian MoD Says

– lankaweb.com/news/items/2022/03/06/ukrainian-nationalists-mined-reactor-at-experimental-nuclear-facility-in-kharkov-russian-mod-says/

• USA, allies have dropped 46 bombs per day on other countries since 2001: research

– xinhuanet.com/english/2021-03/07/c_139791785.htm

• Nuclear war: How realistic is Putin’s nuclear threat?

– sundaytimes.lk/220306/sunday-times-2/nuclear-war-how-realistic-is-putins-nuclear-threat-475222.html

• Burning Globalist Structures to Save the Globalist ‘Liberal Order’

– strategic-culture.org/news/2022/03/06/burning-globalist-structures-to-save-the-globalist-liberal-order/

• To Punish Russia The ‘Liberal Order’ Attempts To Suicide Itself

– moonofalabama.org/2022/03/to-punish-russia-the-liberal-order-attempts-to-suicide-itself.html#more

• Extremely important statements by Putin

– thesaker.is/extremely-important-statements-by-putin-must-see/

• Zelensky rubbishes Biden’s war on Russia

– indianpunchline.com/zelensky-rubbishes-bidens-war-on-russia/

• Ukraine’s accession to NATO would be a catastrophe

– socialistproject.ca/2022/03/geopolitical-consequences-of-escalation-in-ukraine/

• Ukraine faces defeat

– indianpunchline.com/ukraine-faces-defeat/

• What you should really know about Ukraine

– mronline.org/2022/02/24/what-you-should-really-know-about-ukraine/

• The Undiplomatic Diplomat

‘Russia hawks in Washington love Victoria Nuland, the State Department’s point person for the Ukraine crisis. Many Europeans can’t stand her.’

– foreignpolicy.com/2015/06/18/the-undiplomatic-diplomat/

• Russia could launch chemical attack in Ukraine – White House

– newsfirst.lk/2022/03/10/russia-could-launch-chemical-attack-in-ukraine-white-house/

• U.S. fears Russia may come into possession of pathogens stored in Ukraine

– newsfirst.lk/2022/03/09/u-s-fears-russia-may-come-into-possession-of-pathogens-stored-in-ukraine/

• Russia’s Baltic Fleet conducts air defense exercise

– newsfirst.lk/2022/03/09/russias-baltic-fleet-conducts-air-defense-exercise/

• China’s signposts post-Ukraine

– indianpunchline.com/chinas-signposts-post-ukraine/

• The Sanction Backlash Will Push The ‘West’ To Accept Russia’s Demands

– moonofalabama.org/2022/03/the-sanction-backlash-will-push-the-west-to-accept-russias-demands

• Russia adjusts to “sanctions from hell”

– indianpunchline.com/russia-adjusts-to-sanctions-from-hell/

• Challenge-Response – How Russia Is Countering ‘Western’ Moves Against It

– moonofalabama.org/2022/03/challenge-response-how-russia-is-countering-western-moves-against-it

• Russia hits back at Western sanctions with export bans

– dailymirror.lk/business-news/Russia-hits-back-at-Western-sanctions-with-export-bans/273-232916

• USA’s determination to be the world’s hegemon created the crisis in Ukraine.

– blackagendareport.com/musings-margins

• Russia, Ukraine, and the Race Problem

– blackagendareport.com/russia-ukraine-and-race-problem

• When Did the Ukraine War Begin?

– blackagendareport.com/when-did-ukraine-war-begin

• How Canada helped facilitate support for banking sanctions against Russia

– theglobeandmail.com/politics/article-how-canada-helped-facilitate-support-for-banking-sanctions-against/

• US Biolabs Goal Was to Create Bioagents That Can Target Certain Ethnic Groups

– lankaweb.com/news/items/2022/03/10/russian-mod-on-us-biolabs-one-goal-was-to-create-bioagents-that-can-target-certain-ethnic-groups/

– ria.ru/20220306/biooruzhie-1776951830.html

• US-Funded Bio Labs in Ukraine Conducted Research Into Bat Coronavirus, Russian MoD Says

– globaltimes.cn/page/202203/1254528.shtml

• 2.5 million people have now fled Ukraine: UN

– ft.lk/front-page/2-5-million-people-have-now-fled-Ukraine-UN/44-731892

• The Three Wars in Ukraine and How We Might all Lose

‘the physical war, the information war and the economic war. If we want to know what today’s hybrid war looks like, this is it’

– newsclick.in/The-Three-Wars-Ukraine-How-We-Might-all-Lose

• South Korea’s President-Elect Wants Tougher Stance on North Korea

– newsclick.in/south-koreas-president-elect-wants-tougher-stance-north-korea

• Is Japan reverting to its fascist ways that threaten East Asia?

– globaltimes.cn/page/202203/1254586.shtml

• UAE constructing settlement on Yemen’s Socotra Island to accommodate Israeli forces

– radiohc.cu/en/noticias/internacionales/288847-report-reveals-uae-constructing-settlement-on-yemens-socotra-island-to-accommodate-israeli-forces

• UN war crimes panel urges U.S. to probe deadly Syria air raids

– radiohc.cu/en/noticias/internacionales/288709-un-war-crimes-panel-urges-us-to-probe-deadly-syria-air-raids

• U.S. remains silent on Israeli atrocities against Palestinians, massacres taking place in Yemen:

– radiohc.cu/en/noticias/internacionales/288651-us-remains-silent-on-israeli-atrocities-against-palestinians-massacres-taking-place-in-yemen

• Vienna talks on Iran at crossroads

‘India, Pakistan and North Korea already broke the NPT shackle. The point is, in the final analysis, nuclear weapon is the means to preserve a country’s strategic autonomy to pursue independent policies’

– indianpunchline.com/vienna-talks-on-iran-at-crossroads/

• Two Centuries of War Against Haiti!

– blackagendareport.com/two-centuries-war-against-haiti

• Venezuelan president confirms meeting with U.S. delegation

– radiohc.cu/en/noticias/internacionales/288543-venezuelan-president-confirms-meeting-with-us-delegation

• US-Colombia Military Exercises with Nuclear Sub Near Venezuela, After Sending Warship Through Taiwan Strait

– blackagendareport.com/us-and-colombia-do-military-exercises-nuclear-submarine-near-venezuela-after-sending-warship

• Blemishes in the US human rights record

– lankaweb.com/news/items/2022/03/07/blemishes-in-the-us-human-rights-record/

• Danish PM says sorry to Inuits forcibly relocated

– globaltimes.cn/page/202203/1254509.shtml

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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.

• 13,550 accident fatalities over last 5 years; 5677 or 41.89% have been motorcyclists.

– sundaytimes.lk/220306/plus/letters-to-the-editor-5-474946.html

• International actors unlikely and lack legitimacy to call for a complete repeal of the PTA

– dailymirror.lk/plus/Repealing-PTA/352-232444

• Revelation on Development Lotteries Board made at COPE meeting

– adaderana.lk/news/81146/revelation-on-development-lotteries-board-made-at-cope-meeting

• Treasury bond scam case: Controversy over flawed indictments that caused dismissal

– island.lk/treasury-bond-scam-case-controversy-over-flawed-indictments-that-caused-dismissal-of-some-charges-against-ravi-mahendran-ptl-others/

• No access to computer evidence by accused former Chairman of the Fisheries Corporation

– island.lk/counsel-complains-to-court-of-appeal-about-failure-of-prosecution-to-give-access-to-computer-evidence-sought-by-accused/

• Mutiny for a bounty: Rewarding heroic whistleblowing

– ft.lk/columns/Mutiny-for-a-bounty-Rewarding-heroic-whistleblowing/4-731691

• Dishonesty the Vogue

– lankaweb.com/news/items/2022/03/09/dishonesty-the-vogue-the-famous-blue-train-travel-and-efficient-way-to-get-about-but-badly-needs-to-be-overhauled/

• Iran says Israel’s secret nuclear program poses serious threat to regional peace

– radiohc.cu/en/noticias/internacionales/288777-iran-says-israels-secret-nuclear-program-poses-serious-threat-to-regional-peace

• UN Secy General’s Special Rep commends SL Soldiers in Mali

– newsfirst.lk/2022/03/10/un-secy-generals-special-rep-commends-sl-soldiers/

• Prominent Western Saharan activist in Morocco targeted with Pegasus spyware

– radiohc.cu/en/noticias/internacionales/288832-prominent-western-saharan-activist-in-morocco-targeted-with-pegasus-spyware

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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.

• Unplanned economy, crisis and disintegration – Nalin de Silva

– kalaya.org/2022/03/blog-post_11.html

• Current economic crisis premeditated : Mayura Gunawansa PC

– newsfirst.lk/2022/03/12/current-economic-crisis-premeditated-mayura-gunawansa-pc/

• Universities ignored the country running the economy on loans – Karunaratne

– lankaweb.com/news/items/2022/03/10/the-university-at-peradeniya/

• The Way Out of the economic abyss besetting Sri Lanka – Karunaratne

– lankaweb.com/news/items/2022/03/11/the-way-out-of-the-economic-abyss-besetting-sri-lanka/

• The Richest Men Are Not Really Rich

‘In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes. Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row.’

– indi.ca

• The Buck Stops Here: How the USA Is Destroying The Dollar

– indi.ca

• Where did Sri Lanka go wrong after independence & how do we make it right? – Karunaratne

– lankaweb.com/news/items/2022/03/09/where-did-sri-lanka-go-wrong-after-independence-how-do-we-make-it-right/

• Private sector has vital role in economic growth – Molligoda

– island.lk/private-sector-has-vital-role-in-economic-growth/

• Central Bank proposes measures to counter economic headwinds

‘Several banks showing exorbitant profits on balance sheets due to moratorium offered to creditors as they were unable to make provisions for non-performing facilities. As such they have to consider these facilities as performing loans and are absorbing the interest into their profits even though they have not been actually recovered. The effects and repercussions of these will be felt only after the moratorium is lifted and the banks are compelled to make provisions for these non-performing facilities. This matter will be rectified during talks on unwinding the moratorium’

– sundaytimes.lk/220306/business-times/central-bank-proposes-measures-to-counter-economic-headwinds-474741.html

• Central Bank increases interest rates

– timesonline.lk/news-online/Central-Bank-increases-interest-rates/2-1136966

• CBSL’s historic rate hike double blow to economy: Econsult

– ft.lk/top-story/CBSL-s-historic-rate-hike-double-blow-to-economy-Econsult/26-731607

• The dangers of going to the IMF

– themorning.lk/the-dangers-of-going-to-the-imf/

• CB has offered better solutions to Govt. before IMF: Nivard

– ft.lk/front-page/CB-has-offered-better-solutions-to-Govt-before-IMF-Nivard/44-731603

• CB continues to resist IMF-led debt restructuring to end foreign exchange crisis

– lankaweb.com/news/items/2022/03/07/cb-continues-to-resist-imf-led-debt-restructuring-to-end-foreign-exchange-crisis/

• Inflationary pressures mainly driven by external factors: CBSL Governor

– ft.lk/front-page/Tougher-CBSL-measures-to-contain-inflation/44-731605

– dailymirror.lk/business-news/Geopolitical-tensions-put-CB-in-tight-spot-as-it-struggles-to-forecast-inflation-trajectory/273-232586

• Cabraal’s logic: Better a recovery plan criticised than no plan at all

– sundaytimes.lk/220306/columns/cabraals-logic-better-a-recovery-plan-criticised-than-no-plan-at-all-475403.html

• Rampant policy confusion!

– dailymirror.lk/top_story/Rampant-policy-confusion/155-232708

• The Russian invasion of Ukraine worsening our economic plight – Sanderatne

– sundaytimes.lk/220306/columns/the-russian-invasion-of-ukraine-worsening-our-economic-plight-475206.html

• Only IMF out there to rescue Lebanese economy from crisis – Abeyratne

– sundaytimes.lk/220306/business-times/rules-of-the-game-of-debt-474745.html

• CBSL hike too short, needs to double: Wijewardena

– ft.lk/front-page/CBSL-hike-too-short-needs-to-double-Wijewardena/44-731606

• Sri Lanka has to raise policy rates to contain inflation, help rupee: Wijewardena

– economynext.com/sri-lanka-has-to-raise-policy-rates-to-contain-inflation-help-rupee-wijewardena-91487/

• Sri Lanka has to hike rates, ensure monetary fiscal co-ordination to help rupee: Bellwether

– economynext.com/sri-lanka-has-to-hike-rates-ensure-monetary-fiscal-co-ordination-to-help-rupee-bellwether-91480/

• ‘If this is not bankruptcy, then what is bankruptcy?’ – Harsha

– adaderana.lk/news/81108/if-this-is-not-bankruptcy-then-what-is-bankruptcy-harsha

• Sri Lanka rupee devaluation aimed at improving macro stability – Cabraal

– lankaweb.com/news/items/2022/03/11/ukraine-russia-war-has-changed-sl-economic-plans-cbsl-governor-video/

• Sri Lanka interest rate hike not enough, rupee cannot be held at 230: Harsha

– economynext.com/sri-lanka-interest-rate-hike-not-enough-rupee-cannot-be-held-at-230-harsha-91436/

• Sri Lanka braced for a float of the rupee amid call for tighter policy

– economynext.com/sri-lanka-braced-for-a-float-of-the-rupee-amid-call-for-tighter-policy-91397/

– island.lk/why-delayed-devaluation-wont-help-resolve-forex-crisis/

• It’s a float, confirms CB

– dailymirror.lk/business-news/Its-a-float-confirms-CB/273-232836

• Dollar trades peak to Rs. 260 before settling at Rs. 250

– ft.lk/front-page/Dollar-trades-peak-to-Rs-260-before-settling-at-Rs-250/44-731835

– timesonline.lk/news-online/Dollar-soars-to-Rs-260/2-1137022

• Sri Lanka may go for IMF program amid currency float, rising oil prices, sources say

– economynext.com/sri-lanka-may-go-for-imf-program-amid-currency-float-rising-oil-prices-sources-say-91538/

• Was the rupee allowed to float due to ‘Money Laundering Act’?

– newsfirst.lk/2022/03/12/was-the-rupee-allowed-to-float-due-to-money-laundering-act/

• Sri Lanka currency falls sharply as economic crisis deepens

– lankaweb.com/news/items/2022/03/10/sri-lanka-currency-falls-sharply-as-economic-crisis-deepens/

• Ceylon Chamber welcomes devaluation of rupee

– timesonline.lk/business/Ceylon-Chamber-welcomes-devaluation-of-rupee/10-1137002

• 9 member new Economic Council announced

‘President Gotabaya Rajapaksa (Chairman), Prime Minister Mahinda Rajapaksa, Minister of Trade Bandula Gunawardena, Minister of Highways Johnston Fernando, Minister of Finance Basil Rajapaksa, Minister of Agriculture Mahindananda Aluthgamage, Minister of Plantation Ramesh Pathirana, CB Governor Nivard Cabraal, President Secreatary, Gamini Senerath, Treasury Secretary S. R. Attygalle, CB Deputy Governor, Dhammika Nanayakkara’

– newswire.lk/2022/03/08/9-member-new-economic-council-announced/

– timesonline.lk/news-online/New-Economic-Council-appointed-to-counter-economic-woes/2-1136969

– economynext.com/crisis-riddled-sri-lanka-appoints-economic-council-weekly-meetings-scheduled-91446/

• President’s economic council has same members who led SL to present debacle: Vijitha

– dailymirror.lk/latest_news/Presidents-economic-council-has-same-members-who-led-SL-to-present-debacle-Vijitha/342-232798

• Modi’s visit: Use it for long-term prosperity and not for begging for handouts

‘India’s finance minister, the late Pranab Mukherjee… sent a message to IMF that if it did not provide this loan to Sri Lanka, India would do it. It did the trick…’

– sundaytimes.lk/220306/sunday-times-2/weak-nations-on-borders-of-big-powers-and-non-alignment-475231.html

• From crisis to inclusive economic growth in Sri Lanka – World Bank Bureaucrats

– ft.lk/columns/From-crisis-to-inclusive-economic-growth-in-Sri-Lanka/4-731737

• Third World nations have a common finance minister: the IMF

– island.lk/go-to-imf-or-not/

• Most IMF programmes increase taxes and cut public expenditures – Devarajan

– sundaytimes.lk/220306/columns/sacking-of-two-ministers-exposes-division-in-ruling-coalition-475393.html

• A progressive bloc is the only solution.

– island.lk/udaya-and-wimal-leave-the-cabinet/

• IMF urges Sri Lanka to raise taxes, devalue currency

– island.lk/imf-urges-sri-lanka-to-raise-taxes-devalue-currency/

• Study Group for Tripartite Cooperation (Japan-India-Sri Lanka) – Pathfinder

– island.lk/recommendations-for-sri-lanka-debt-restructuring-and-bridge-financing-for-humanitarian-purposes/

• Private sector demands urgent govt. action to resolve worsening forex crisis

‘10 leading private sector business chambers yesterday came together united and held a joint press conference to reveal the gravity of current foreign exchange crisis on their industries, which employ 50% of the country’s workforce.’

– dailymirror.lk/business-news/Private-sector-demands-urgent-govt-action-to-resolve-worsening-forex-crisis/273-232590

– ft.lk/top-story/Private-sector-tells-Govt-to-bite-the-bullet-today-to-avert-disaster-tomorrow/26-731661

• 15 export sector chambers and associations joint media briefing on Monday

– ft.lk/front-page/Exporters-sound-alarm-on-impact-to-revenue-and-Sri-Lanka-s-credibility/44-731657

– timesonline.lk/news-online/SLs-export-sector-credibility-on-the-brink/2-1136984

– themorning.lk/risk-of-apparel-buyers-shifting-from-sl-due-to-current-crises/

• Debt restructuring and bridge financing for humanitarian purposes – Rockefeller Study Group

‘The Study Group for Tripartite Cooperation led by by Pathfinder Foundaiton comprises of Amb. Nobuhito Hobo, Professor, National Graduate Institute for Policy Studies (GRIPS) & Executive Adviser, GRIPS – ALLIANCE – Japan; Prof. Shinji Asanuma, Former Professor, School of International and Public Policy, Hitotsubashi University – Japan; Prof. Hirohisa Kohama, Professor Emeritus of Economics, Faculty of International Relations, University of Shizuoka – Japan; Amb. Dr. Mohan Kumar, Chairman, Research and Information System for Developing Countries (RIS) – India; Bernard Goonetilleke, Chairman, Pathfinder Foundation – Sri Lanka; Dr. IndrajitCoomaraswamy, Distinguished Fellow, The Pathfinder Foundation – Sri Lanka; and Dr. Shanta Devarajan, Professor, The Practice of International Development at Georgetown University’s Edmund A. Walsh School of Foreign Service – USA)’

– dailymirror.lk/businessopinion/Debt-restructuring-and-bridge-financing-for-humanitarian-purposes/306-232746

• SJB meets CBSL Governor on current crisis

– ft.lk/front-page/SJB-meets-CBSL-Governor-on-current-crisis/44-731777

• Rupee devaluation, import restrictions may boost inflation: Reuters’ analysts

– dailymirror.lk/business-news/Rupee-devaluation-import-restrictions-may-boost-inflation-analysts/273-232826

• How best to deal with State-owned enterprises

‘The shortest, easiest method to solve this age-old problem is to convert all these SOEs to Limited Liability Companies (Ltd).’

– ft.lk/columns/How-best-to-deal-with-State-owned-enterprises/4-731567

• Russia hits back on “sanctions from hell”

– indianpunchline.com/russia-hits-back-on-sanctions-from-hell/

• Will sanctioning Russia upend the monetary system?

– sundaytimes.lk/220306/sunday-times-2/will-sanctioning-russia-upend-the-monetary-system-475185.html

• Russia hits back with countermoves to withstand West sanctions

– globaltimes.cn/page/202203/1254369.shtml

• How Countries are Escaping Sanctions under Neo-Liberalism – Patnaik

‘Russia to enter into bilateral trade agreements with large number of countries to beat Western sanctions’

– newsclick.in/How-Countries-Escaping-Sanctions-under-Neo-Liberalism

• Sanctions: A Sanctimonious Word for Economic Warfare and Outright Theft

– blackagendareport.com/sanctions-sanctimonious-word-economic-warfare-and-outright-theft

• Korea: from Moon to Yoon – Roberts

– thenextrecession.wordpress.com/2022/03/09/korea-from-moon-to-yoon/

• The IMF’s Unfinished Business – Stiglitz, Gallagher

‘in a recent agreement with Argentina, the Fund has largely abandoned the kind of austerity programs that have long plagued its reputation, not to mention undercutting livelihoods around the world. The IMF will have a chance to take another major step in the right direction when it reviews its stance on capital-flow regulation later this month. The original rationale for such regulation, enshrined in the IMF’s Articles of Agreement, was that cross-border capital flows could disrupt international financial markets, the stability of which was the IMF’s raison d’être.’

– project-syndicate.org/commentary/imf-review-must-embrace-capital-controls-by-joseph-e-stiglitz-and-kevin-p-gallagher-2022-03

• Why Is the IMF Trying to Be an Aid Agency? – Rogoff

– project-syndicate.org/commentary/imf-acting-like-aid-agency-risks-embarrassment-by-kenneth-rogoff-2022-01

• Fallen angels & ‘zombie’ companies

‘Zombies are companies whose regular profits do not even cover the cost of servicing their outstanding debts… ‘Fallen angels’…are companies that have run up large debts at very low rates of interest (based on the injection of credit by central banks in their ‘quantitative easing’ programmes [using] cheap credit not to invest in productive capital but to fund risky acquisitions and increase market share.’

– thenextrecession.wordpress.com/2022/03/06/fallen-angels/

• Billionaires got $1.7 trillion richer during two years of pandemic

– radiohc.cu/en/noticias/internacionales/288970-billionaires-got-17-trillion-richer-during-two-years-of-pandemic

• Financing reindustrialization: bring back development banks – Deepak Nayyar
– https://www.livemint.com/Opinion/dUNIR39M4Sj4iLbDzqX28J/Financing-reindustrialization-bring-back-development-banks.html

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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.

• Price of lunch packets increases from today

– dailymirror.lk/breaking_news/Price-of-lunch-packets-increases-from-today/108-232863

• Commodity, staple prices soar in Sri Lanka after rupee devaluation

– economynext.com/commodity-staple-prices-soar-in-sri-lanka-after-rupee-devaluation-91554/

• Jerome Powell drives US inflation to 7.9-pct in Feb 22 as Sri Lanka hits 15.2-pct

– economynext.com/jerome-powell-drives-us-inflation-to-7-9-pct-in-feb-22-as-sri-lanka-hits-15-2-pct-91520/

• Basil to meet IMF with homegrown plan in April

– themorning.lk/basil-to-meet-imf-with-homegrown-plan-in-april/

• Sri Lanka to start talks with IMF on debt restructuring – Reuters

– adaderana.lk/news/81138/sri-lanka-to-start-talks-with-imf-on-debt-restructuring

• Basil’s meeting with IMF not for debt restructuring: Cabraal

‘Reuters news agency quoting three unnamed sources earlier reported that SriLanka would seek IMF help for debt restructuring and managing Forex crunch’

– dailymirror.lk/breaking_news/Basils-meeting-with-IMF-not-for-debt-restructuring-Cabraal/108-232901

• Steep rupee devaluation causes cascading effect on prices of goods and services

– island.lk/steep-rupee-devaluation-causes-cascading-effect-on-prices-of-goods-and-services/

• Sri Lanka limits imports of 367 non-essential items effective midnight

– dailymirror.lk/business-news/Sri-Lanka-limits-imports-of-367-non-essential-items-effective-midnight/273-232768

• Only restrictions not total ban on 367 goods: Semasinghe

– dailymirror.lk/latest_news/Only-restrictions-not-total-ban-on-367-goods-Semasinghe/342-232806

• Supermarket food prices up 36% in a year – US Advokata

– island.lk/supermarket-food-prices-up-36-in-a-year/

• How IMF is Closely Linked with the Ukraine Crisis

– newsclick.in/how-imf-closely-linked-ukraine-crisis

• Central Bank urges banks and NBFIs to promote savings amid rising inflation

– island.lk/central-bank-urges-banks-and-nbfis-to-promote-savings-amid-rising-inflation/

• Special gazette on repatriation of export proceeds into Sri Lanka issued

– adaderana.lk/news/81145/special-gazette-on-repatriation-of-export-proceeds-into-sri-lanka-issued

– newsfirst.lk/2022/03/12/export-proceeds-must-be-received-within-180-days/

• CB devalues the rupee against USD to Rs 230

– dailymirror.lk/latest_news/CB-devalues-the-rupee-against-USD-to-Rs-230/342-232536

– timesonline.lk/news-online/Sri-Lanka-devalues-rupee-pegging-it-at-Rs-230-from-Rs-203-earlier/2-1136980

• CBSL announces partial flexibility in forex; revises cap on $ at Rs. 230

– ft.lk/front-page/CBSL-announces-partial-flexibility-in-forex-revises-cap-on-at-Rs-230/44-731660

• CBSL says greater flexibility in exchange rate will be allowed with immediate effect

– lankaweb.com/news/items/2022/03/07/cbsl-says-greater-flexibility-in-exchange-rate-will-be-allowed-with-immediate-effect/

• Sri Lanka rupee allowed to fall, expects Rs230 to dollar rate: Central Bank

– economynext.com/sri-lanka-rupee-allowed-to-fall-expects-rs230-to-dollar-rate-central-bank-91377/

• Ceylon Chamber welcomes CBSL move towards flexible exchange rate

– ft.lk/front-page/Ceylon-Chamber-welcomes-CBSL-move-towards-flexible-exchange-rate/44-731673

• Sri Lanka rupee official rate falls to Rs229 to US dollar, a historic low

– economynext.com/sri-lanka-rupee-official-rate-falls-to-rs229-to-us-dollar-a-historic-low-91439/

• Sri Lanka rupee converted near 230 to the US dollar, no float yet

– economynext.com/sri-lanka-rupee-converted-near-230-to-the-us-dollar-no-float-yet-91417/

• Confusion reigns over currency amidst free float move

– ft.lk/front-page/Confusion-reigns-over-currency-amidst-free-float-move/44-731779

• Sri Lanka rupee at 260/275 to dollar after opening at 240/260

– economynext.com/sri-lanka-rupee-at-260-275-to-dollar-after-opening-at-240-260-91485/

• Sri Lanka rupee opens at 260/280 to US dollar

– economynext.com/sri-lanka-rupee-opens-at-260-280-to-us-dollar-91537/

• Sri Lanka’s kerb and spot dollar unify around Rs255/265 amid float

– economynext.com/sri-lankas-kerb-and-spot-dollar-unify-around-rs255-265-amid-float-91509/

• Revolting rupee dip sends prices high

– ft.lk/top-story/Revolting-rupee-dip-sends-prices-high/26-731900

• CBSL Governor writes to bank CEOs on new measures

– ft.lk/front-page/CBSL-Governor-writes-to-bank-CEOs-on-new-measures/44-731676

• NPLs: Banks sitting on ‘time bomb’

– sundaytimes.lk/220306/business-times/npls-banks-sitting-on-time-bomb-474760.html

• US$5-$6 billion spent on importing non-essential cheese, butter, vegetables, fruits, ice cream, chocolate and sauces etc.

– sundaytimes.lk/220306/business-times/restricted-imports-of-600-non-essentials-474757.html

• “Are we to eat apples and grapes sitting in the dark?”

– island.lk/political-convulsions-as-economy-totters/

• Multiple crises imperil lives and livelihoods

– sundaytimes.lk/220306/news/multiple-crises-imperil-lives-and-livelihoods-475453.html

• How the power cuts have affected small and independent businesses

– dailymirror.lk/news-features/How-the-power-cuts-have-affected-small-and-independent-businesses/131-232633

• Sri Lanka gross official reserves down 2-pct US$2,361mn in Feb 22

– economynext.com/sri-lanka-gross-official-reserves-down-2-pct-us2361mn-in-feb-22-91390/

• Sri Lanka’s official reserves at USD 2.31 billion in Feb: CBSL

– themorning.lk/sri-lankas-official-reserves-at-usd-2-31-billion-in-feb-cbsl/

• Chinese EXIM Bank releases US $ 60Mn as part of loan

– dailymirror.lk/latest_news/Chinese-EXIM-Bank-releases-US-60Mn-as-part-of-loan/342-232812

• Ranil demands to know when govt. will table IMF report

– island.lk/ranil-demands-to-know-when-govt-will-table-imf-report/

• Sri Lanka economic crisis: all party conference on the cards; IMF report

– economynext.com/sri-lanka-economic-crisis-all-party-conference-on-the-cards-imf-report-91465/

• Sri Lanka comes closer to IMF aid option after rupee plunge

– dailymirror.lk/business-news/Sri-Lanka-comes-closer-to-IMF-aid-option-after-rupee-plunge/273-232759

• Government decides to withdraw SGST bill

– timesonline.lk/news-online/Government-decides-to-withdraw-SGST-bill/2-1136970

• Ukraine & Russia crisis hits SL’s external trade

‘both are important import sources for wheat and export destinations for black teas as well as foreign exchange earners from tourism and trade accounting for 2 per cent of imports and 2.2 per cent of exports. Sri Lanka imports from Ukraine were US$76.2 million while exports to that country were $51.94 million during 2020/2021 financial year. Tea exports to Ukraine were $ 24 million while imports of wheat from Ukraine were $ 17 million. Exports to Russia amounted to $163 million while tea exports to Russia stood at $132 million and wheat imports from Russia were $140 million. Both countries are major import sources for asbestos, semi-finished products of iron and steel, copper (cathodes), and potassium chloride for fertiliser. The cost for these imports was $7-10 million.’

– sundaytimes.lk/220306/business-times/ukraine-crisis-hits-sls-external-trade-474738.html

• Rising food prices can be hugely destabilizing
‘food represents a far larger percentage of headline CPI baskets in EM compared to DM countries. Food makes up almost half of India’s CPI basket, and over 30% of it in the Philippines, China and Russia, while in European countries it is around 10-15%, and in the U.S. it is only around 8%.’

– radiohc.cu/en/noticias/internacionales/288446-rising-food-prices-can-be-hugely-destabilizing

• Argentinean president announces pact with IMF to restructure debt

‘It does not impact on public services, does not relegate our social spending and respects our investment plans in science and technology’

– radiohc.cu/en/noticias/internacionales/288420-argentinean-president-announces-pact-with-imf-to-restructure-debt

• Goldman Sachs cuts U.S. growth forecast as commodity prices bite

– dailymirror.lk/business-news/Goldman-Sachs-cuts-U-S-growth-forecast-as-commodity-prices-bite/273-232918

• US inflation jumps to 40-year high

– radiohc.cu/en/noticias/internacionales/288959-us-inflation-jumps-to-40-year-high

_________________________________________________________________________

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

• Bus fares to hike by 50% if CPC diesel prices increased

– dailymirror.lk/top_story/Bus-fares-to-hike-by-50-if-CPC-diesel-prices-increased/155-232865

• Sri Lanka central bank halts Rs 8 top up for remittances, questions over Rs38

– economynext.com/sri-lanka-central-bank-halts-rs8-top-up-for-remittances-questions-over-rs38-91441/

– economynext.com/sri-lanka-approves-rs38-incentive-for-worker-remittance-amid-float-move-91410/

• Efficient service at National Hospital

– sundaytimes.lk/220306/plus/letters-to-the-editor-5-474946.html

• Give us UGC-approved nurse’s degree – All Ceylon Nurses’ Union

– dailymirror.lk/latest_news/Give-us-UGC-approved-nurses-degree/342-232699

• Islandwide strike by State Executive Officers

– newsfirst.lk/2022/03/10/islandwide-strike-by-state-executive-officers/

• CEBEU threatens trade union action to Executive Committee members power restored

– dailymirror.lk/plus/Clash-between-vested-powers-and-tradition/352-232711

• 3-wheeler drivers demand end to fuel crisis – Professional 3-Wheeler Drivers’ Association

– timesonline.lk/news-online/In-Pictures-Three-wheeler-drivers-demand-end-to-fuel-crisis/2-1137023

• Social Security Fund for the working masses

– newsfirst.lk/2022/03/10/social-security-fund-for-the-working-masses/

• Policy On Elders – Kulatunga

– lankaweb.com/news/items/2022/03/11/policy-on-elders/

• Lak Vanitha Peramuna holds IWD protest

– timesonline.lk/news-online/In-Pictures-Lak-Vanitha-Peramuna-holds-protest/2-1136999

• SLFP marks International Women’s Day

– timesonline.lk/news-online/In-Pictures-SLFP-marks-International-Womens-Day/2-1136998

• ‘Women for Rights’ protest march

– dailymirror.lk/latest_news/Let-s-fight/342-232622

– timesonline.lk/news-online/In-Pictures-Women-march-against-Govt/2-1136997

• Tamil Nationalistic Women’s Day – 2022

– sundaytimes.lk/220306/columns/cabraals-logic-better-a-recovery-plan-criticised-than-no-plan-at-all-475403.html

• Only 30% school kids attending schools: Ceylon Teachers’ Union

‘Teachers’ union blames reduced private buses, school transport’

– themorning.lk/only-30-school-kids-attending-schools-ceylon-teachers-union/

• National Child Protection Authority (NCPA) seems to be asleep

‘there is a backlog of 42073 unresolved cases of grave crimes against children.’

– island.lk/abuse-of-children/

• FUTA urges government to unconditionally withdraw KNDU Bill

– island.lk/futa-demands-abolition-of-kndu-bill/

• Sri Lanka’s street light decision would be setback for female labour force – IPS economist

– economynext.com/sri-lankas-street-light-decision-would-be-setback-for-female-labour-force-ips-economist-91424/

• Finance Minister Order to switch off street lights irks Electricity Consumers’ Association

– island.lk/order-to-switch-off-street-lights-irks-electricity-consumers-association/

• The Illusion Of Being Alone

– indi.ca

• The Pointlessness Of Covid Travel Theatre

– indi.ca

• Decolonising education, decentering the university – A response

– island.lk/decolonising-education-decentering-the-university-a-response/

• Protests and celebrations mark International Women’s Day

– radiohc.cu/en/noticias/internacionales/288550-protests-and-celebrations-mark-international-womens-day

• Resisting Amazon Capitalism

‘Amazon’s increasing dominance in the logistics-driven global economy is made possible by the large-scale exploitation of a vast, and often racialized, blue-collar labour force employed’

– socialistproject.ca/2022/03/resisting-amazon-capitalism/

• Women’s Organizations in the Caribbean Community from the 19th Century to Today,

– blackagendareport.com/essay-womens-organizations-caribbean-community-19th-century-today-rhoda-reddock-1990

• International Women’s Day 2022: What is White Canadian Feminism?

– socialistproject.ca/2022/03/iwd22-what-is-canadian-feminism/

• Minneapolis teachers go on strike, call for better learning conditions and fair wages

– radiohc.cu/en/noticias/internacionales/288691-minneapolis-teachers-go-on-strike-call-for-better-learning-conditions-and-fair-wages

• Financialization, Inequality and the University

– socialistproject.ca/2022/03/financialization-inequality-and-university/

_________________________________________________________________________

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.

• Policy Making and Execution in Agriculture – Gamini Seneviratne

– island.lk/policy-making-and-execution-in-agriculture/

• SLAF hands over six tonnes of organic fertiliser to CFC

– island.lk/slaf-hands-over-six-tonnes-of-organic-fertiliser-to-cfc/

• Dollar crisis driven import of fertilizer, pesticides and seeds to hamper Yala season

– dailymirror.lk/plus/Dollar-crisis-driven-import-issues-to-hamper-Yala-season/352-232632

• Organic Agriculture Nightmare Tanks Sri Lanka’s Economy – Forbes

– lankaweb.com/news/items/2022/03/10/organic-agriculture-nightmare-tanks-sri-lankas-economy/

• Seedy side of the crop research institutes – An incisive analysis

– ft.lk/columns/Seedy-side-of-the-crop-research-institutes-An-incisive-analysis/4-731731

• 5.2 Million Kgs under hammer at Colombo Tea Auction this week

– dailymirror.lk/business-news/5-2-MnKgs-under-hammer-at-Colombo-Tea-Auction-this-week/273-232920

• “Role of the Plantation Industry to Strengthen the Sri Lankan Economy” – National Institute of Plantation Management (NIPM) webinar

– island.lk/role-of-the-plantation-industry-to-strengthen-the-sri-lankan-economy/

• Serendib Company increases price of wheat flour

– themorning.lk/serendib-company-increases-price-of-wheat-flour/

• Prima Ceylon Increases Wheat Flour prices with immediate effect

– newsfirst.lk/2022/03/11/wheat-flour-prices-increased-with-immediate-effect/

• Price of bakery products hiked

– themorning.lk/price-of-bakery-products-hiked/

• Colombo rubber auctions up on forex rate change

– timesonline.lk/business/Colombo-rubber-auctions-up-on-forex-rate-change/10-1137001

• Sri Lankan boat with 5 fishermen detained by Indian Coast Guard

– adaderana.lk/news/81095/sri-lankan-boat-with-5-fishermen-detained-by-indian-coast-guard

• Milk Powder prices to be increased ?

– newsfirst.lk/2022/03/10/milk-powder-prices-to-be-increased/

• Unilever announces merger of Unilever Food Solutions with core business

– ft.lk/business/Unilever-announces-merger-of-Unilever-Food-Solutions-with-core-business/34-731701

• Most sacred elephant dies aged 68

– ft.lk/news/Most-sacred-elephant-dies-aged-68/56-731649

• Stupid Us did not Bid Farwell to the Elephant king

– kalaya.org/2022/03/blog-post_8.html

_____________________________________________________________________

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.

• New Fortress Energy to continue with plans for Sri Lanka LNG project

– dailymirror.lk/breaking_news/New-Fortress-Energy-to-continue-with-plans-for-Sri-Lanka-LNG-project/108-232709

– adaderana.lk/news/81093/new-fortress-to-proceed-with-lng-and-power-projects-in-sri-lanka

• Supply of Medicine disrupted; pharmacies asked to control sales

– island.lk/supply-of-medicine-disrupted-pharmacies-asked-to-control-sales/

• Pharma industry seeks 18% price increase

– island.lk/pharma-industry-seeks-18-price-increase/

• Prices of imported medicines up on par with dollar exchange: Jayasumana

– dailymirror.lk/breaking_news/Prices-of-imported-medicines-up-on-par-with-dollar-exchange-Jayasumana/108-232719

• Drug prices to be hiked?

– adaderana.lk/news/81085/drug-prices-to-be-hiked

• Rupee devaluation: Govt. agrees to revise drug prices

– island.lk/rupee-devaluation-govt-agrees-to-revise-drug-prices/

• Pharmaceutical importers permitted to hike prices

– adaderana.lk/news/81111/pharmaceutical-importers-permitted-to-hike-prices

• Prices of 60 essential drugs to be increased

– themorning.lk/prices-of-60-essential-drugs-to-be-increased/

• Antibiotics, painkillers shortage in market

– themorning.lk/antibiotics-painkillers-shortage-in-market/

• Country’s fuel guzzling costs USD 13 million per day

– island.lk/countrys-fuel-guzzling-costs-usd-13-million-per-day/

• 9,000 MT of Diesel distributed daily

– newsfirst.lk/2022/03/10/9000-mt-of-diesel-distributed-daily/

• LIOC move killing CPC; govt. in deep slumber – Unionist

– island.lk/lanka-ioc-move-killing-cpc-govt-in-deep-slumber-trade-union/

• Chevron predecessor Caltex operated as fuel retailer until the nationalization in 1960s

‘We returned 30 years later when the lubricants sector reopened to private investments. Till the early 2000s, we were the sole player, but now there are 22 lubricant suppliers for a relatively small market’

– economynext.com/brand_voice/delo-proves-30000km-on-a-single-oil-drain-powered-by-isosyn-technology/

• Cooking gas shortage has almost doubled bread prices

– adaderana.lk/news/81040/diesel-shipments-expected-to-partly-ease-fuel-shortage

• Hundreds of bakeries shut in Sri Lanka after cooking gas runs out

– lankaweb.com/news/items/2022/03/07/hundreds-of-bakeries-shut-in-sri-lanka-after-cooking-gas-runs-out/

• Weerawansa says Finance Minister aggravating economic crisis to further interests of West.

– island.lk/presidents-council-and-wimals-swipe/

– island.lk/wimal-accuses-basil-of-deliberately-undermining-country-to-help-west-with-its-agenda-here/

– island.lk/presidents-council-and-wimals-swipe/

• Wimal calls PM’s statement on fuel crisis foolish

– dailymirror.lk/latest_news/Wimal-calls-PMs-statement-on-fuel-crisis-foolish/342-232534

• Only Biyagama and Katunayake zones exempted from electricity cuts: FTZ Manufacturers

‘’United Lanka Container Transport Owners Association: a sector that has about 6000 operating vehicles, 75% are not operating due to the shortage of diesel: Only 25 litres allocated at petrol stations per vehicle. One container vehicle requires at least 200-300 litres for a full tank. Container operators are now trying to limit their operations outside of the Western Province…Regional Plantation Companies’ estates have fuel for about a week or two : Planters Association: trucks will not be able to bring in the firewood and manufactured tea cannot go down to Colombo.’…Maha harvest delayed as farmers are unable to purchase fuel for their tractors and harvester machines.: All Island Farmers Association: farmers unable to reap harvest as they are chased out of petrol stations as diesel is not allowed to be sold in cans resulting in violent outbursts with the petrol station staff’

– sundaytimes.lk/220306/business-times/sls-economy-struggles-amid-fuel-crisis-474766.html

• LP gas shortage put out restaurant stoves

– dailymirror.lk/business-news/LP-gas-shortage-put-out-restaurant-stoves/273-232587

• CEB incurs annual loss of Rs 3,000 mn due to street lighting

– island.lk/ceb-incurs-annual-loss-of-rs-3000-mn-due-to-street-lighting/

• Furnace Oil for Power Plants from Wednesday (9)

– newsfirst.lk/2022/03/09/furnace-oil-for-power-plants-from-wednesday-9/

• ‘Navigating through the Power Crisis’ webinar organized by CT CLSA

– dailymirror.lk/business-news/Manufacturing-industries-disappointed-over-measures-taken-thus-far-to-avoid-power-cuts/273-232584

– themorning.lk/companies-discard-long-term-plans-due-to-short-term-uncertainties/

• Govt. imposes limits on use of electricity and fuel at public institutions

– island.lk/govt-imposes-limits-on-use-of-electricity-and-fuel-at-public-institutions/

• Diesel scarcity leads Kelanitissa GT-7 power plant shut down

– dailymirror.lk/breaking_news/Diesel-scarcity-leads-Kelanitissa-GT-7-power-plant-shut-down/108-232718

• Sri Lanka struggles to pay for fuel imports after surge in crude prices

– bizenglish.adaderana.lk/sri-lanka-struggles-to-pay-for-fuel-imports-after-surge-in-crude-prices/

• Govt. opt for emergency power purchase

– island.lk/govt-opt-for-emergency-power-purchase/

• Energy Ministry Secretary blames credit rating downgrades for fuel woes

‘after credit downgrades, suppliers started demanding payment for fuel before oil stocks were shipped’

– island.lk/energy-ministry-secretary-blames-credit-rating-downgrades-for-fuel-woes/

• LIOC increases diesel by Rs.75, Petrol by Rs.50 per litre

– dailymirror.lk/latest_news/LIOC-increases-diesel-by-Rs-75-Petrol-by-Rs-50-per-litre/342-232799

• Lanka IOC raises fuel prices to record high

– economynext.com/lanka-ioc-raises-fuel-prices-to-record-high-91519/

– newsfirst.lk/2022/03/11/lanka-ioc-increases-fuel-prices-with-effect-from-thursday-10/

• Reserve Bank of India notifies $500 mn credit line for Sri Lanka to procure petroleum products

– dailymirror.lk/latest_news/RBI-notifies-500-mn-credit-line-for-Sri-Lanka-to-procure-petroleum-products/342-232856

• Govt. seeks to purchase oil under 90-day credit

– dailymirror.lk/business-news/Govt-seeks-to-purchase-oil-under-90-day-credit/273-232829

• Energy Secy. claims fuel crisis to come to an end next week

– ft.lk/front-page/Energy-Secy-claims-fuel-crisis-to-come-to-an-end-next-week/44-731829

• Issues related to opening of LCs sorted out – Litro

– adaderana.lk/news/81120/issues-related-to-opening-of-lcs-sorted-out-litro

• CPC at crossroads on financial future

– themorning.lk/cpc-at-crossroads-on-financial-future/

• Sri Lanka to pay USD 52 Mn for Diesel Ship

– newsfirst.lk/2022/03/11/sri-lanka-to-pay-usd-52-mn-for-diesel-ship/

• Significant rupee depreciation forced selling price revisions for gasoil & gasoline – Lanka IOC

– island.lk/significant-rupee-depreciation-forced-selling-price-revisions-for-gasoil-gasoline-lanka-ioc/

• Dayasiri names CEB as number one culprit for power crisis, urges it be restructured

– island.lk/dayasiri-names-ceb-as-number-one-culprit-for-power-crisis-urges-it-be-restructured/

• PUCSL approves emergency power purchases

– island.lk/pucsl-approves-emergency-power-purchases/

• LIOC move worsens govt.’s fuel woes

– island.lk/lioc-move-worsens-govt-s-fuel-woes/

• CPC also increases fuel prices; petrol by Rs.77 & diesel by Rs. 55

– dailymirror.lk/top_story/CPC-also-increases-fuel-prices-petrol-by-Rs-77-diesel-by-Rs-55/155-232899

– economynext.com/sri-lanka-petrol-raised-to-rs254-and-diesel-to-rs176-a-litre-by-cpc-91566/

– newsfirst.lk/2022/03/12/cpc-increases-fuel-prices-with-effect-from-saturday-12/

• Tuk Tuk fare for second km increased to Rs.50

– dailymirror.lk/breaking_news/Tuk-Tuk-fare-for-second-km-increased-to-Rs-50/108-232869

• CEB & Indian company to set up solar power plant in Sampur

– dailymirror.lk/breaking_news/CEB-Indian-company-to-set-up-solar-power-plant-in-Sampur/108-232862

– lankaweb.com/news/items/2022/03/11/sri-lanka-and-india-sign-agreement-to-develop-a-solar-power-plant-in-sampur/

• Struggling SL hit by sharp fuel price hikes

– dailymirror.lk/business-news/Struggling-SL-hit-by-sharp-fuel-price-hikes/273-232917

• Petition against proposed ground-mounted solar power plants fixed for May 12

– dailymirror.lk/business-news/Petition-against-proposed-ground-mounted-solar-power-plants-fixed-for-May-12/273-232915

• Reserve Bank of India initiates US $ 500mn fuel credit line for Sri Lanka

– dailymirror.lk/business-news/RBI-initiates-US-500mn-fuel-credit-line-for-Sri-Lanka/273-232914

• Brent spikes to US$ 139 on prospect of Russia oil ban, delay in Iran deal

‘The head of Japan’s largest business lobby said the country’s imports of Russian crude could not be replaced immediately. Russia is Japan’s fifth-biggest supplier of crude oil and liquefied natural gas’

– dailymirror.lk/business-news/Brent-spikes-to-US-139-on-prospect-of-Russia-oil-ban-delay-in-Iran-deal/273-232583

• Global oil rockets, shares and euro dumped

– timesonline.lk/news-online/WORLD-Global-oil-rockets-shares-and-euro-dumped/2-1136975

• Danish container shipping line Maersk established itself in Sri Lanka 28 years ago

– ft.lk/shippingaviation/Shape-shifting-the-logistics-perspective-Maersk-makes-things-happen/21-731551

• All airline tickets issued locally up by 27% from today: Civil Aviation Authority of Sri Lanka

– dailymirror.lk/latest_news/All-airline-tickets-issued-locally-up-by-27-from-today-CAASL/342-232846

• Foundation stone laid for Lanwa Group’s US$ 400mn steel plant

‘Nandana Lokuwithana already owns and operates a steel manufacturing facility – Ceylon Steel Corporation, with its brand presence as Lanwa Sanstha Wane.’

– dailymirror.lk/business-news/Foundation-stone-laid-for-US-400mn-steel-plant/273-232588

– dailymirror.lk/business-news/Lanwa-lays-foundation-for-steel-and-roofing-sheet-factories/273-232761

– ft.lk/front-page/Lanwa-says-recent-investments-top-250-m-as-work-begins-on-steel-and-roofing-sheets-plants/44-731897

• State bureaucracy delayed Lanwa Sanstha Cement factory opening: Chamal Rajapaksa

– dailymirror.lk/business-news/State-bureaucracy-delayed-Lanwa-Sanstha-Cement-factory-opening-Chamal-Rajapaksa/273-232589

– island.lk/lanwa-sanstha-cements-entry-to-market-set-to-address-twin-challenges-availability-and-price-stability/

– ft.lk/front-page/President-opens-SL-s-biggest-cement-factory-worth-400-m-by-Lanwa/44-731659

• Creating Global Demand for Sri Lankan Handloom

– island.lk/creating-global-demand-for-sri-lankan-handloom/

• The Crisis of Western Physics – Nalin de Silva

– kalaya.org/2022/03/blog-post_64.html

• Empresa Farmacéutica 8 de Marzo: How Cuba Marked International Women’s Day in 1981

‘In 1981, Cuba named its first chemical synthesis plant for production of generic pharma products in honour of International Women’s Day. Forty years since, it continues to march forward despite crippling sanctions and economic blockade by the US.’

• Mining company destroyed Indigenous land and spied on reporters in Guatemala

– radiohc.cu/en/noticias/internacionales/288660-mining-company-destroyed-indigenous-land-and-spied-on-reporters-in-guatemala

• Palladium at record high, but analysts see little impact on domestic auto sector

‘”Russia, South Africa, Canada, and the US have been the world’s leading producers of palladium. Russia’s palladium exports accounted for nearly 50 percent of global production, and 80 percent of palladium consumption comes from catalytic converters in cars,’

– globaltimes.cn/page/202203/1254233.shtml

• The Impact of the German Energy Shift on Canada

– socialistproject.ca/2022/03/impact-of-german-energy-shift-on-canada/

• US Oil Baron Charles Koch Remains Silent About His Sprawling Russian Operations

– wallstreetonparade.com/2022/03/as-bp-shell-exxonmobil-announce-cutting-ties-to-russia-oil-baron-charles-koch-remains-silent-about-his-sprawling-russian-operations/

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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.

• Women trapped in microfinance debt flay govt. for not keeping its pledge to liberate them

– island.lk/women-trapped-in-microfinance-debt-flay-govt-for-not-keeping-its-pledge-to-liberate-them/

• ADB President Masatsugu Asakawa arrives in Sri Lanka

‘Annual Meeting of Asian Development Bank (ADB) is scheduled for Colombo from 5-8 September…Since its first loan to Sri Lanka in 1968 to help modernise tea factories, ADB has funded projects in a variety of sectors such as agriculture, rural development, water, transport, and energy’

– adaderana.lk/news/81097/adb-president-masatsugu-asakawa-arrives-in-sri-lanka

– dailymirror.lk/business-news/ADB-President-reaffirms-support-for-Sri-Lankas-recovery/273-232835

– ft.lk/front-page/ADB-President-visits-SL-reaffirms-support-for-socio-economic-recovery/44-731836

– economynext.com/sri-lanka-needs-sound-economic-management-reforms-adb-president-91531/

– timesonline.lk/news-online/ADB-President-in-Colombo/2-1137021

• IFC, CSE ring bell for gender equality in Sri Lanka

– economynext.com/ifc-cse-ring-bell-for-gender-equality-in-sri-lanka-91428/

– island.lk/ifc-and-colombo-stock-exchange-ring-the-bell-for-gender-equality-in-sri-lanka/

• World Bank’s IFC plans to increase investments

‘Since pandemic, IFC has invested $ 450 million, including $ 175 million in JKH to boost retail and tourism – IFC’s largest investment in Sri Lanka over its 50-year operations. IFC injected $ 50 million in Commercial Bank of Ceylon and $ 25 million in Nations Trust Bank to help small businesses stay afloat…Last year, IFC piloted a new digital health program – DigiHealth – to boost access to affordable and quality health-care services in Sri Lanka and beyond. In October, IFC also issued its first-ever rupee-denominated bond in the country – the ‘Serendib Bond’ – to ensure that the private-sector has access to long-term offshore financing in local currency.’

– ft.lk/business/IFC-reaffirms-commitment-to-Sri-Lanka-amid-plans-to-increase-investments/34-731585

– island.lk/ifc-reaffirms-commitment-to-sri-lanka-amid-plans-to-increase-investments/

• StanChart with SERVE empowers working women through ‘Shaktheen’

– dailymirror.lk/business-news/StanChart-with-SERVE-empowers-working-women-through-Shaktheen/273-232819

• Bank of Ceylon 2021 pre-tax profit at least Rs.43 mn

– sundaytimes.lk/220306/business-times/strong-year-for-boc-in-2021-pre-tax-profit-at-over-rs-43-mn-474728.html

• People’s Bank’s 2021 pre-tax profit at least Rs. 37.2 b

– ft.lk/front-page/People-s-Bank-s-combined-financial-support-tops-Rs-1-t-in-2020-and-2021/44-731598

• Rising gold and oil prices exert negative impact on share market

– island.lk/rising-gold-and-oil-prices-exert-negative-impact-on-share-market/

• Bourse begins new week with over 2% dip; foreigners turn net buyers

– ft.lk/front-page/Bourse-begins-new-week-with-over-2-dip-foreigners-turn-net-buyers/44-731655

• Sri Lanka bourse down on concerns over extended power cuts, economic concerns

– economynext.com/sri-lanka-bourse-down-on-concerns-over-extended-power-cuts-economic-concerns-91371/

• Stock market dips further to new low but foreigners bullish

– ft.lk/front-page/Stock-market-dips-further-to-new-low-but-foreigners-bullish/44-731775

• CSE recovers remarkably as ASPI registers historic highest single-day points gain

– island.lk/cse-recovers-remarkably-as-aspi-registers-historic-highest-single-day-points-gain/

• CSE plunges amid rupee devaluation controversies

– island.lk/cse-plunges-amid-rupee-devaluation-controversies/

• Shares see best day in 16 years as devalued rupee boosts exporters

– dailymirror.lk/business-news/Shares-see-best-day-in-16-years-as-devalued-rupee-boosts-exporters/273-232833

• Sri Lanka stock index sees record gain after select shares go up

– economynext.com/sri-lanka-stock-index-sees-record-gain-after-select-shares-go-up-91516/

• Sri Lanka stocks end 6-pct higher amid rupee float

– economynext.com/sri-lanka-stocks-end-6-pct-higher-amid-rupee-float-91510/

• Inadequate foreign funds inflow having CSE investors worried

– island.lk/inadequate-foreign-funds-inflow-having-cse-investors-worried/

• Thursday’s bullish sentiment short-lived as stock market ends week negatively

– ft.lk/front-page/Thursday-s-bullish-sentiment-short-lived-as-stock-market-ends-week-negatively/44-731891

• Sri Lanka shares fall over fuel price hike, devaluation uncertainty

– economynext.com/sri-lanka-shares-fall-over-fuel-price-hike-devaluation-uncertainty-91567/

• Sri Lanka stock index sees record gain after select shares go up

– economynext.com/sri-lanka-stock-index-sees-record-gain-after-select-shares-go-up-91516/

• Asian markets mostly drop as inflation spike fans rate fears

– ft.lk/front-page/Asian-markets-mostly-drop-as-inflation-spike-fans-rate-fears/44-731890

• Benchmark 1-year T-bill yield surpasses 10% hitting 3-year high

– dailymirror.lk/business-news/Benchmark-1-year-T-bill-yield-surpasses-10-hitting-3-year-high/273-232767

• Sri Lanka bond yields rise, indicative dollar at Rs.229.5

– economynext.com/sri-lanka-bond-yields-rise-indicative-dollar-at-rs-229-5-91469/

• Sri Lanka bond yields soar, 2031 bonds 15.42-pct after money printing

– economynext.com/sri-lanka-bond-yields-soar-2031-bonds-15-42-pct-after-money-printing-91571/

• Bank interest, dividends, and treasury bills: Tax implications in the hands of individual

– ft.lk/financial-services/Bank-interest-dividends-and-treasury-bills-Tax-implications-in-the-hands-of-individual/42-731577

• Deutsche Bank Lost 38% of Market Value in a Month: Big Problem for Wall Street & Fed

– wallstreetonparade.com/2022/03/deutsche-bank-has-lost-38-percent-of-its-market-value-in-a-month-thats-a-big-problem-for-wall-street-and-the-fed/

• Big Question on Wall Street: WhichBanks Owe $41 Billion on Credit Default Swaps on Russia

– wallstreetonparade.com/2022/03/the-big-question-on-wall-street-is-which-banks-owe-41-billion-on-credit-default-swaps-on-russia/

• Biden orders govt. to study digital dollar, other cryptocurrency risk

– dailymirror.lk/business-news/Biden-orders-govt-to-study-digital-dollar-other-cryptocurrency-risk/273-232764

• Barbarians at the Gate – In Russia and on Wall Street

– wallstreetonparade.com/2022/03/barbarians-at-the-gate-in-russia-and-on-wall-street/

• Citigroup, Goldman Sachs and JPMorgan have Cozy Ties with Russia

– wallstreetonparade.com/2022/03/citigroup-goldman-sachs-and-jpmorgan-are-in-the-hot-seat-sever-cozties-with-russia-or-earn-the-wrath-of-u-s-and-eu-clients/

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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’

• The private sector in Sri Lanka usually seen as an enabler of corruption

– timesonline.lk/news-online/Transparency-in-corporate-reporting-assessment-reveals-marginal-improvement-by-Sri-Lankan-companies/2-1137015

• Institute of Directors SLID-Daily FT webinar shares insights on how CEOs must lead

– ft.lk/front-page/SLID-Daily-FT-webinar-shares-insights-on-how-CEOs-must-lead/44-731738

• Land rackets and legal fraternity

– island.lk/land-rackets-and-legal-fraternity/

• Hemas Pharmaceuticals distributor for US OPPO products in Sri Lanka

– timesonline.lk/business/Hemas-Pharmaceuticals-distributor-for-OPPO-products-in-Sri-Lanka/10-1136992

• Mendis Distilleries suspended from functioning: Semasinghe

– dailymirror.lk/breaking_news/Mendis-Distilleries-suspended-from-functioning-Semasinghe/108-232630

• Softlogic Holdings eyes Agora, Bangladesh’s oldest supermarket chain

‘72.5% owned by Frontier Fund-managed Swedish hedge fund Brummer & Partners and rest by Rahimafrooz. Softlogic employs over 11,000 people in Sri Lanka and Australia…’

– lankaweb.com/news/items/2022/03/05/lankan-firm-eyes-agora-takeover/

• Softlogic Holdings a net profit at least Rs.1.25 billion for the quarter, to raise Rs.2 billion

– dailymirror.lk/business-news/Softlogic-Holdings-to-raise-Rs-2-billion-via-commercial-papers/273-232832

• Oracle notches $ 10.5 bn in total revenue in fiscal 2022 third quarter

– island.lk/oracle-notches-10-5-bn-in-total-revenue-in-fiscal-2022-third-quarter/

• UDA presents proposed City Development Plans

– timesonline.lk/news-online/UDA-presents-proposed-City-Development-Plans/2-1137020

• Bang Bang – Colombo’s first modern shopping mall

– island.lk/bang-bang-colombos-first-modern-shopping-mall/

• England warns tourists of SL economic crisis

– timesonline.lk/news-online/UK-warns-tourists-of-SL-economic-crisis/2-1136987

• UL continues to service Moscow; sees sharp rise in demand

– dailymirror.lk/business-news/UL-continues-to-service-Moscow-sees-sharp-rise-in-demand/273-232766

• Sri Lanka expects tourism hit with loss of Russian arrivals

– adaderana.lk/news/81096/sri-lanka-expects-tourism-hit-with-loss-of-russian-arrivals

• Private sector draws fresh battle lines against new Tourism Act

– ft.lk/top-story/Private-sector-draws-fresh-battle-lines-against-new-Tourism-Act/26-731837

• Industry woes shared with Tourism Minister

– dailymirror.lk/business-news/Industry-woes-shared-with-Tourism-Minister/273-232922

• McLarens Group hands out sanitary napkins to commemorate International Women’s Day

– bizenglish.adaderana.lk/mclarens-group-hosts-a-series-of-impactful-events-commemorating-international-womens-day/

• UN continues multimillion-dollar purchases from a blacklisted Russia

‘UN suppliers: UAE $460,265,239, USA $404,483,142, Kenya $227,831,838, Switzerland $152,339,756, Russian Federation $132,315,245, England, $95,685,434, Ukraine $83,448,131’

– sundaytimes.lk/220306/sunday-times-2/un-continues-multimillion-dollar-purchases-from-a-blacklisted-russia-475226.html

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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.

• Ten party alliance to conduct rally in Nugegoda

– dailymirror.lk/latest_news/Ten-party-alliance-to-conduct-rally-in-Nugegoda/342-232795

• Bringing Ranil to the forefront – Nalin de Silva

– kalaya.org/2022/03/blog-post_10.html

• PM says Ranil a good friend, but no national government

– dailymirror.lk/breaking_news/PM-says-Ranil-a-good-friend-but-no-national-government/108-232887

• Wimal’s 2016 UN protest case to be taken up

– themorning.lk/wimals-2016-un-protest-case-to-be-taken-up/

• Verdict on passport case against Shashi Weerawansa postponed

– themorning.lk/verdict-on-passport-case-against-shashi-weerawansa-postponed/

• Gammanpila barred from speaking in Parliament

– dailymirror.lk/breaking_news/Gammanpila-barred-from-speaking-in-Parliament/108-232876

• President cuts Wimal, Udaya down to size

– dailymirror.lk/opinion/President-cuts-Wimal-Udaya-down-to-size/172-232927

• Wimal-Udaya Expulsion: First Fissures, Coming Crack-Up – Jayatilleka

‘Wimal and Udaya were not the real, indispensable hardcore of the GR project though they may have thought they were. They were merely the populist camouflage for a Deep State/ex-military project. The hardcore of the GR project was the Viyath Maga plus Eliya.’

– island.lk/wimal-udaya-expulsion-first-fissures-coming-crack-up/

• Geneva bunker-buster, Rajapaksa regime retrenchment and 2015 reset – Jayatilleka

– ft.lk/columns/Geneva-bunker-buster-Rajapaksa-regime-retrenchment-and-2015-reset/4-731732

• Why the ‘Ugly American’ label does not fit Basil Rajapaksa: Jeyaraj

– ft.lk/columns/Why-the-Ugly-American-label-does-not-fit-Basil-Rajapaksa/4-731689

• Was the last presidential election a fraud? – Ivan

– ft.lk/columns/Was-the-last-presidential-election-a-fraud/4-731788

• Rushing for elections before public has made up its mind would simply lead to anarchy

– dailymirror.lk/plus/Staggering-regime-strains-to-negotiate-uncertainty-peoples-pressure/352-232561

• SLFP mulls new coalition under Maithri or CBK

– themorning.lk/slfp-mulls-new-coalition-under-maithri-or-cbk/

• Sri Lanka’s SLFP will form new alliance, but not under former prez CBK: gen secy

– economynext.com/sri-lankas-slfp-will-form-new-alliance-but-not-under-former-prez-cbk-gen-secy-91372/

• Prez regrets sacking of Udaya and Wimal

– island.lk/prez-regrets-sacking-of-udaya-and-wimal/

• Good riddance of bad rubbish: Ministers Wimal and Gammanpila get boot – Sunday Times

– sundaytimes.lk/220306/columns/good-riddance-of-bad-rubbish-475251.html

• Ranil says no national govt. but calls for all parties to unite to come out of crises

– dailymirror.lk/top_story/Ranil-says-no-national-govt-but-calls-for-all-parties-to-unite-to-come-out-of-crises/155-232637

• Divided govt. loses its two-thirds majority

– island.lk/divided-govt-loses-its-two-thirds-majority/

• Pandora Papers investigation report stalled by Opposition asking for more time

– island.lk/pandora-papers-investigation-report-stalled-by-opposition-asking-for-more-time/

• The Life of a Great Marxist: Aijaz Ahmad (1941-2022).

– newsclick.in/life-great-marxist-aijaz-ahmad-1941-2022

• South Korea’s incel election

– unherd.com/2022/02/will-incels-decide-koreas-election/

• Discourse on Colonialism (1955) – Aimé Césaire

– redsails.org/discours-sur-le-colonialisme/

• In Praise of “Whataboutism”

– blackagendareport.com/praise-whataboutism

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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.

• Film on Brandix produced by BBC

– island.lk/enriching-the-fabric-of-community-a-short-film-on-brandix-produced-by-bbc-storyworks-commercial-productions/

• SLIM calls on marketers to unite in creating an ethical marketing culture in Sri Lanka

– island.lk/slim-calls-on-marketers-to-unite-in-creating-an-ethical-marketing-culture-in-sri-lanka/

• Press Institute, media organisations raise 7 key concerns over Data Protection Bill

– ft.lk/front-page/Press-Institute-media-organisations-raise-7-key-concerns-over-Data-Protection-Bill/44-731654

• Editors Guild expresses grave concerns over Personal Data Protection Bill

– ft.lk/opinion/Editors-Guild-expresses-grave-concerns-over-Personal-Data-Protection-Bill/14-731735

• Sri Lanka parliament passes data protection act amid privacy concerns

– economynext.com/sri-lanka-parliament-passes-data-protection-act-amid-privacy-concerns-91476/

• Responsibility for journo attack will fall on govt if police fails to act: Sri Lanka cabinet spox

– economynext.com/responsibility-for-journo-attack-will-fall-on-govt-if-police-fails-to-act-sri-lanka-cabinet-spox-91427/

• Trail blazing Mrs. B. honoured with book with photos hitherto not in public domain

– island.lk/trail-blazing-mrs-b-posthumously-honoured-with-book-with-photos-hitherto-not-in-public-domain/

• Honouring recently departed colleagues

– island.lk/honouring-recently-departed-colleagues/

• Alborada: Dawn Song or Dawn Rape?

– island.lk/alborada-dawn-song-or-dawn-rape/

• In conversation with Poet Ahnaf Jazeem “The poems I wrote were against the ISIS ideology”

– dailymirror.lk/recomended-news/In-conversation-with-Poet-Ahnaf-Jazeem-The-poems-I-wrote-were-against-the-ISIS-ideology/277-232803

• Disarming Ukraine – Day 13 – Lies Do Not Win Wars

– moonofalabama.org/2022/03/disarming-ukraine-day-13-lies-do-not-win-wars/comments/page/5/#comments

• Disarming Ukraine Day 15: A Curious Hospital Bombing And ‘No-Fly Zone’ Pressure

– moonofalabama.org/2022/03/disarming-ukraine-day-15-a-curious-hospital-bombing-and-no-fly-zone-pressure

• Abby Martin: How the media manufactures ‘bloodlust’ for war

– lankaweb.com/news/items/2022/03/10/abby-martin-how-the-media-manufactures-bloodlust-for-war/

• Washington is producer, would-be director as well as the co-star

– consortiumnews.com/2022/03/05/war-conflict-enemies-of-truth/

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email: econenews@gmail.com

blog: eesrilanka.wordpress.com

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