Unmaking the Republic of Sri Lanka (1972-2022)

Before you study the economics, study the economists!

e-Con e-News 21-27 May 2022

I consider it an unforgettable moment in my life to have the privilege

of hoisting our national flag once again at this moment

where a free, independent republic was established,

with a constitution drafted by our own people.

– Prime Minister Sirima Bandaranaike on 22 May 1972 at the Dalada Maligava,

declaring the ‘Free, Sovereign and Independent Republic of Sri Lanka’

The present move to destroy me politically would be welcome also

to moneymakers from overseas and perhaps to certain foreign governments

whose aims to exploit countries such as ours are only too well known.

It is reasonable to conclude that the foreign policy I adopted

when I was PM and the actions I took in foreign affairs have moved certain foreign interests

 to ensure that I do not head a government in this country ever again…

Yet, Mr Speaker, at a time… when economically & socially our country is once again being betrayed to foreign interests, my policies (or the policies I would adopt if I were return to power again) must be

anathema to those who betray the national interest.

– Sirima Bandaranaike in Parliament, 16 October 1980

50 years after we removed the Queen of England as head of state, imperialism and their local fanboys and fangirls are demanding the abolition of the executive presidency – a post elected by all the people. Imperialism does not trust the Sri Lankan people.

     One lesson of the last 75 years, at least: it seems Sri Lanka cannot be allowed to choose our own leaders. If we decide to choose them anyway, imperialism will cut them down to size. Especially if leaders seek to strike an independent economic path, and refuse to be a sliced-up sub-colony of a subcontinental sahib, a captive home market for other’s machine industry.

     As ee goes to post, Sri Lanka is subject to India’s tied-largesse and diversionary threats – ‘Reclaim Kachchatheevu!’ demands a Tamil Nadu Chief Minister who earlier called for Eelam. All this, while the government is forced to allow all privately-owned bunker fuel operators to import and distribute diesel and fuel oil (from one source: Exxon) to various industries. This further unmakes the nationalisation of the country’s petroleum industry, an attempt which began 60 years ago, again, under Sirima Bandaranaike. What happened after 1962? The media cannot divulge…but reality does:

Hopefully India will speak on behalf of Lanka at the Quad summit in Tokyo next week

Sunday Times Editorial, 22 May 2022

‘IMF Managing Director Kristalina Georgieva particularly lauded India’s help to Sri Lanka in the face of the ongoing economic crisis. Sitharaman called upon the IMF to support and urgently provide financial assistance to Sri Lanka. The Managing Director assured the Indian Finance Minister that the IMF would continue to actively engage with Sri Lanka.’ – see ee Economy, IMF Praises India

‘Sri Lanka’s High Commissioner to India Milinda Moragoda particularly appreciated Indian Finance a& Corporate Affairs Minister of India Nirmala Sitharaman’s taking up the case of Sri Lanka on the sidelines of the IMF Spring Meetings in April in Washington DC with the IMF, other multilateral institutions and bilateral development partners… The High Commissioner reiterated that Sri Lanka would require bridge financing until the economic adjustment program with the IMF could be negotiated and finalised… Chief Economic Advisor of the Indian Government Prof Anantha Nageswaran led the Indian side…’ – ee Sovereignty, SL Tells India

‘The Prime Ministers of India and Japan met on May 24 on the sidelines of the US Quad summit in Tokyo, and held bilateral talks on ‘close cooperation’… to realize a ‘Free & Open Indo-Pacific’, in addition to collaboration in spheres including defence… The leaders “discussed the situation in Sri Lanka and confirmed that they will cooperate with each other in light of the current economic crisis and deterioration of the humanitarian situation in the country.” Further, they “shared the view to work together to develop Indo-Pacific Economic Framework into an inclusive framework that will bring substantive benefits to the region”.’ – ee Sovereignty, India & Japan

• Banner headlines keep blaring: Crisis, crisis, crisis. Is it really a ‘Crisis’? Or is it the inevitable culmination of preventing a modern industrial economy to preserve the international division of labor and capital? No matter. The capitalist media keeps doing what they do best: Distractification. The 17th IMF aspirin will give us our 17th headache! While weakening the state, privatization will further accelerate the division of the country.

• And yet, the hubris! The nerve! The sheer hypocrisy! Migrant workers (or should we call them economic exiles?) have been our largest source of foreign exchange. Foreign exchange, that is stolen by local merchants and hoarded outside the country, betting against the rupee being collapsed. Yet this week found the Daily Mirror suddenly scolding ‘migrant workers’ for not understanding ‘their duty’. The DM blamed their ‘excessive greed’ for not sending their money through legal channels.

     The Island, meanwhile, is waiting for the ‘truth to unravel’ about how ‘underground cash transfer systems… dried up foreign exchange flows’. (ee Quotes).

• Governments have been allowing, what now amounts to at least US$200million of food to be imported every month – including onions, sprats, potatoes, lentils, cereals, rice. Food importers are however threatening food shortages, and riots will erupt, because the Finance Ministry has supposedly banned them from hoarding dollars abroad, with effect from 20 May 2022. Meanwhile dollars are sold to the highest bidders to keep on importing luxury goods, while refusing dollars for fuel, food and meds.

Fitch-linked Wall Street-robot-parrot EconomyNext inadvertently linked fertilizer importers to this criminality, even as these capitalists usually proclaim ‘rule of law’: “Undiyal and kerb market drives remittances and tourist inflows to the most urgent needs including fertilizer (known as boat urea) according to those familiar with the process.’ – see ee Economy, Tightened

Trading Taboos – The capitalist media refuses to even touch the incessant hemorrhaging of foreign exchange through trade misinvoicing, led by the multinationals. Most of those clamoring about corruption have never heard of MNC transfer pricing. Then again, the media is owned by MNCs like Unilever. We gain no profit by their superstar-crazy media, which would rather promote constant outragification and awesomeification, than soberly educating us.

• Millions of dollars have been gushing wholesale out of the country through legal channels. The media rather point to lesser, pettier retail criminals:

     ee long ago also pointed to the rampant smuggling by regional merchant families, so-called ‘market minorities’, who act as a buffer between the multinationals and the people. ee of 20 November 2021, noted, ‘Gems, diamonds and jewellery exports up 59% to $195mn in first 9 months.’ But it’s more than just gems:

• The capitalist media instead highlights government corruption & debt as the main issues. They would rather blame politicians & ‘human nature’ (greed, etc), rather than pointing to capitalism and – just as importantly for us – pointing to capitalism’s prevention of investment in modern production.

• In the trillions of words splurged on Sri Lanka’s economy, there’s very little mention that Sri Lanka needs a modern industrial plan. This is not an accidental omission. The modern history of Sri Lanka can be elucidated as the active prevention of industrialization, through massive elite obstruction by the import-export plantation oligarchy, deploying legislative manoeuvre, sabotage, assassination, coup d’état, bribery, and terrorism.

• The capitalist media refuses to discuss industrialization at any depth. The need for industry is usually misinterpreted and distorted, as handicraft, assembly, etc.

     Despite all claims to a high literacy, few know exactly what industrialization even means. What we have therefore is a literacy without numeracy. Worse, we have a nationalism bereft of economics. Letters without numbers. ABC without 123:

Manufacturing is the mainstay of the national economy,

the basis on which the nation is established,

an instrument of rejuvenation,

and the foundation of a world power.

So begins Made in China 2025, China’s State Council statement on economic strategy. This

ee Focus reproduces an excerpt from Made in China 2025.

     ee‘s argument is that, without industrialization, no matter who takes over the leadership of this merchant-dominated plantation economy, we will have to be led by thieves. As US founding ‘father’ and slaveowner Benjamin Franklin said: ‘War is robbery, commerce is generally cheating.’ So ‘commerce’ and their many ‘chambers’ is what we get. Some may call these ‘chambers’ – gangs!

The roots of the beautiful country’s crisis lies not just in short-term economics,

but more in its linguistic, religious, and cultural majoritarianism over the past decades

– Indian MP Jairam Ramesh, Karnataka

This is a ‘crisis’, cry the headlines of many if not most media commentaries, Right & Left. Capitalism’s meltdowns appear to be occurring with greater frequency. The pandemic, the escalation of wars around the world, and present inflationary increases in prices, must instead be viewed as attempts by capitalism to rescue itself. In Sri Lanka there are therefore also other factors at play: Ensuring no ‘unwanted geopolitical leverage’.

• ‘The West has declared total war against us, against the entire Russian world. Nobody even hides this fact now’ – Sinhala-speaking Russian Foreign Minister Sergey Lavrov said this week.

     The white world led by the US is escalating their wars on the world. Attacking Russia and China provides capitalism with an excuse. The English media can then keep blaming rampant inflation, food and fuel hikes on war (which their US masters ignited) in Eastern Europe and on the pandemic.

     While there is little media about the US invasion of East Africa, France’s blockading of the seas into Mozambique, and the US and England attacking ships going to Yemen, the media instead blared about Russia and China conducting their 4th strategic joint air patrol since 2019, over the Sea of Japan and East China Sea on Monday. Also, for the first time since 2006, Russia and China on Thursday vetoed a US-drafted UN Security Council resolution to escalate sanctions on North Korea. –Random Notes

Contents:

A1. Reader Comments

• Sinhalanadu • Vlogging for Vendetta • Inter-nationalist war

A2. Quotes of the Week

• Ranil Goes Gota • Wrath of Luxury • Greedy Workers • Sapugaskanda Sabotage • ISB or not to ISB • Gota’s 2 Fs •  World System’s A-Team • Food Importers Set to Riot • Turning Parippu into Car Parts • The IOUs of ISBs • US-Ukraine Block Food • The Christian as Real Jew

A3. Random Notes

• Free Education in the Land of the Free • Reagan’s Voodoo • Clifford Chance, IMF & Transparency • Buying More, Consuming Less • US Tugs Food Chain • Quad’s Good Indians • US Invasion of Somalia over Oil

B. ee Focus    

B1. Made in China 2025

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 is suggesting we are about to become another province of India: Sinhalanadu, minus the north, east and central highlands.’

• ‘The vlogger ee quoted, on the meeting between the former Army Commander and the US ambassador, was rousing people to attack the Rajapakses. He keeps claiming over & over again he is non-partisan. But he’s not.’

• ‘The May 9th. conflagration was meant to split the nationalist forces in Sri Lanka, and make them attack each other. Watch…it’s a 1987-89 rerun.’

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A2. Quotes of the Week_

• ‘If the ongoing joint high-profile project to introduce 21A to the Constitution succeeds, the UNP leader will receive powers at the expense of the Executive Presidency.’ – ee Sovereignty, How Lanka

• ‘Everybody should be careful. People hate to see politicians travelling in luxury cars with security contingents. People detested the politicians’ attitude of trying to stay above them. The Opposition Leader went there in his luxury vehicles with his security guards and henchmen. So, he had to face the wrath of the people.’ – ee Politics, JVP General Secretary Tilvin Silva

• ‘Migrant workers do not appear to have understood their duty at a time of grave economic disaster engulfing their motherland as they continue to send their earnings through informal moneychangers, seeking higher conversion rates as opposed to what the banks pay. The data showed that worker remittances in April were only a fraction of what they sent a year ago, as excessive greed appears to have overtaken obligation if they really want to help their country and fellow citizens who are on the brink of starvation with no access to food, cooking gas, fuel and electricity.’ – ee Workers, Remittances, Daily Mirror

• ‘If the Sapugaskanda refinery was in operation, they could have minimised even the power cuts, as the refinery is able to provide more than the daily requirement of naphtha and furnace oil needed for the thermal power plants.’ – ee Industry, Hoarders

• ‘Bulk (35%) of the external debt is the expensive International Sovereign Bonds, whilst the rest is held by what CBSL Governor described as the Paris Club members (including Japan, UK, US, Germany) and non-Paris Club creditors (including China, India). The exact debt component to be restructured has not been quantified yet.’ – ee Economists, Lazard

• ‘The 2 grievous mistakes that President Gotabaya Rajapaksa admitted he had made – banning chemical fertilisers and not seeking IMF assistance – is being rectified. The government has begun negotiations with the IMF and has obtained chemical fertiliser from India for food production.’ ee Economists, Sanderatne

• ‘What and where is our A-team which is handling the economic crisis and also negotiating with the world system? Dr Nandalal Weerasinghe is definitely a huge plus, but where are Dr Nishan de Mel, Dr Dushni Weerakoon, Dr Deshal de Mel and of course Prof Howard Nicholas (who has worked with the Vietnamese government)? These stellar talents have to be on the frontlines of the economic war, not in some backroom advisory group.’ – ee Politics, Suicidal

• ‘Sri Lanka imports around $200million of food a month, including onions, sprats, potatoes, lentils, cereals, rice to meet the needs of the consumers. The clampdown on the dollar buying from markets on open account by food importers and forcing Pettah traders to open Letters of Credit (LCs) or getting customs authorities to crack down on food importers who do not fully settle bills on official channels, will result in creating an unprecedented food shortage within the next 2 months according to many importers…

     Exports are over one billion dollars per month to date during every month except April 2022, but only about 50% of that is brought back to Sri Lanka. In fact, I believe that the garment industry is allowed to keep some of the foreign exchange in order to purchase their inputs or production which is apparently around 40% of the cost of the exports, but other exporters are obviously not remitting back their hard-earned export proceeds, anticipating that there will be continuous depreciation of the rupee.’ – ee Agriculture, Chambers Sleeping

• ‘Sri Lanka’s essential food importers have sought exemption from newly imposed trade restrictions amid fears that banks will not be able to give dollars fast enough to clear perishables, an industry association said. Sri Lanka banned open account and DA/DP term imports from May 20 in an attempt to reduce Unidyal-style gross-settlements being made for what officials called ‘non-essential’ imports. Officials prefer for imports to be paid through the banking system rather than through unofficial channels. Vehicle spare parts & similar items are believed to be coming from unofficial payments.’ – ee Agriculture, Importers

• ‘US and Western analysts emphasize that Sri Lanka ran up huge and unmanageable debts by partnering with China’s Belt & Road Initiative (BRI) under the Rajapaksa regime. While the country is in fact indebted to China for loans taken to build up infrastructure, like the network of highways, Port City Project at Colombo, the port at Hambantota, the cricket stadium in Sooriyawewa and the airport at Mattala, these loans constitute around only 10% or less of all foreign loans taken by the government and are long-term loans, without strings attached. It has led to claims that the lack of conditions have led to enormous corruption. However, these loans are not part of borrowings which need immediate repayment and led to the financial crunch due to shortage of foreign reserves.

     Our state of bankruptcy arises out of our inability to repay borrowings taken via sales of sovereign bonds. These ISBs carry a very high interest rate, are bought up by international financial institutes and need to be repaid immediately & in totality – capital & interest on specific dates.’ – ee Economists, SL’s economic chaos

• ‘Governor of the Bank of England Bailey singles out Russia for a ‘blockade’ allegedly preventing Ukraine’s wheat and sunflower oil from getting to market. But experts were predicting food shortages for 2022 even before the conflict erupted. Ukraine is the #5 grain exporter, at just under 7% of global supply. The #2, #3 and #4 exporters are in order, Canada, the US, and France. France is expected to have a very poor year due to drought. US winter wheat output is projected to be down 8%. Canada’s is projected be up due to very high prices leading farmers to shift acreage to wheat. And the blockade charge is a fabrication. It’s Ukraine that mined Black Sea ports and is continuing to blockade them. The International Maritime Organization confirms Russia’s claims that it has established ‘humanitarian corridors’ that remain open daily but that Ukraine that is preventing them from operating properly.’ – ee Economists, Paradigm

• ‘Let us consider the actual, worldly Jew – not the Sabbath Jew, as Bauer does, but the everyday Jew. Let us not look for the secret of the Jew in his religion, but let us look for the secret of his religion in the real Jew. What is the secular basis of Judaism? Practical need, self-interest. What is the worldly religion of the Jew? Huckstering. What is his worldly God? Money. Very well then! Emancipation from huckstering and money, consequently from practical, real Judaism, would be the self-emancipation of our time. An organization of society which would abolish the preconditions for huckstering, and therefore the possibility of huckstering, would make the Jew impossible… In the final analysis, the emancipation of the Jews is the emancipation of mankind from Judaism… The Jew has emancipated himself in a Jewish manner, not only because he has acquired financial power, but also because, through him and also apart from him, money has become a world power and the practical Jewish spirit has become the practical spirit of the Christian nations.’ – from Karl Marx’s response to the antisemitic Bruno Bauer, On the Jewish Question (see ee Media, Myths)

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

Free Education in the Land of the Free – ‘To get your child into those Washington DC high schools that send a higher percentage of their graduates to Princeton, Yale and Harvard: Parents have to hire a consultant at $500 an hour at least. These ‘consultants’ are former admissions staffers at those preparatory schools.’

• ‘Virtually every major move and decision the Reagans made… was cleared in advance with a woman in San Francisco who drew up horoscopes.’ – Donald Regan, US President Ronald Reagan’s Whitehouse Chief of Staff

• ‘Sri Lanka picks Lazard, Clifford Chance as advisers for landmark debt restructuring,’ Reuters reported this week. ee 18 November 2018 noted, Clifford Chance had lined up the transfer of a majority stake in Saudi broadcasting company MBC to the Riyadh government, a few weeks after Crown Prince Mohammed bin Salman imprisoned chief exec Waleed al-Ibrahim and his brothers in the Ritz Carlton. Clifford Chance also secured $5bn deal to create the 3rd largest Saudi bank… This leading London law firm hosts regular ‘anti-corruption events’ for the World Bank’s Transparency International!

Buying More, Consuming Less – ‘While the wealthiest do consume a larger share of total subsidies, a larger share of the consumption basket of poor households is dependent on subsidies. The Household Income & Expenditure Surveys show that the poorest spend a larger share of their income on items like Food, Fuel and Transport, which are highly sensitive to subsidies.’

• US Treasury Plan paves way for Aid to tackle Sri Lanka Hunger: Under the ‘International Financial Institution Action Plan to Address Food Insecurity’, the Asian Development Bank will repurpose existing commitments of about US$150mn (~Rs54bn) to help tackle food insecurity. According to the US-led action plan, help ‘may include cash transfer to poor & vulnerable groups and livelihood development programs’ for food & nutrition.

     In Berlin on Thursday, under a proposal by Germany’s Federal Development Minister Svenja Schulze, G7 development ministers launched a Global Alliance for Food Security to tackle the hunger crisis.

     Under the US initiative, the ADB is also exploring different options of trade finance and private sector loans to support food import. The ADB will support Afghanistan and Sri Lanka alongside the Food & Agriculture Organization and World Food Program.

     The International Fund for Agricultural Development, active in rural areas since the Kirindi Oya project in 1978, will support through the new ‘crisis response initiative’ to address short-term food security needs. The World Bank Group is readying projects worth $12bn for the next 15 months, including support to agriculture, social protection to help cushion the income effect of rising food prices, and water & irrigation. South Asia will get $2.4bn.

     The ADB’s trade finance guarantees will support essential food imports, where possible, while trade and supply chain finance programs will provide guarantees to banks for food & agriculture trade transactions involving nearly 2,800 small & medium businesses in 15 developing countries, including Sri Lanka. Agribusiness loans of $450m will be available for nearly 300,000 smallholder farmers in 15 developing countries, including Sri Lanka…

     Existing and new trust funds will give immediate financial help to agribusiness and emergency assistance to countries including Sri Lanka, and support ways to strengthen the agriculture value chain…

     Fertiliser is also now scarce in global markets and leading producer nations have barred shipments. Prices of ammonia, nitrogen, potash, urea, phosphates, sulphates and nitrates are at record highs. The biggest fertiliser producer, Canada’s Nutrien Ltd website announced it will increase potash production by 1 to 15mn tons in 2022.

     Sri Lanka ranks 65 out of 135 countries in the 2021 Global Hunger index which measures undernourishment & stunted children among other factors (published by Concern Worldwide & Welthungerhilfe). About 500,000 Sri Lankans fell into poverty (less than $3.20/day, or Rs1,151) the World Bank estimates – ee Sovereignty, US Treasury

• The US and 12 countries of the Indo-Pacific region set up the Indo-Pacific Economic Framework (IPEF), as the economic correlative of the US Indo-Pacific Strategy, on Monday in Tokyo, alongside US President Joe Biden’s visit.

     US, Australia, India, Japan and South Korea, Indonesia, the Philippines, Malaysia, Thailand and Vietnam, Brunei, New Zealand and Singapore: The IPEF could provide an early warning system for supply chain blocks, encourage industries to decarbonise and offer US businesses ‘reliable Asian partners outside China’.

     ‘It will make no binding commitments regarding market access characteristic of trade deals or free trade agreements, because that will be a hard sell in the US where protectionist sentiments are well entrenched… A White House factsheet comes straight to the point: ‘IPEF will enable the US and our allies to decide on rules of the road that ensure US workers, small businesses and ranchers can compete in the Indo-Pacific.’

     Reportedly, India was initially reluctant to join the IPEF, as it is keener on having a bilateral trade pact with the US and plurilateral agreements under the Quad. India’s concerns about a non-FTA deal are perfectly understandable, being cautious about the non-tariff-cutting multilateral framework and doubting whether it can really provide substantial benefits to any emerging economy in South Asia.

     However, Delhi and Washington reached an understanding during Indian Finance Minister Nirmala Sitharaman’s visit to the US last month when it was agreed that, although the IPEF will demand ‘high standards’ by way of establishing and maintaining trade facilitation, supply-chain resilience and infrastructure, it will nevertheless be a ‘strategic move’ that targets China – a strong US-Indian congruence of interests.

     For the US it is almost necessary to get India onboard the IPEF, as India is considered as the key cornerstone for the US Indo-Pacific strategy. Delhi gave in to US entreaties, although its preference would have been to build a South Asia-Indian Ocean economic zone by obtaining bilateral FTAs with the US and negotiating the best possible market access.’ ee Sovereignty, Hardsell

• Boots & Crude – The USA’s military (Africom) boots on the ground is related to a dispute between Somalia and US Oil company, Coastline Exploration Ltd, over the validity of an oil exploration agreement. The US wants to both reassert its presence in the oil-rich and strategic region, and to directly target its long-time foe, Eritrea.

     This decision is ‘emblematic of the US insistence on keeping Africa in perpetual turmoil and has nothing to do with enabling a more effective fight against al-Shabaab.’ Washington’s billion-dollar counterterrorism programs, from Somalia to Nigeria , ostensibly to enhance security in Africa, are having the opposite effect.

     Meanwhile the USA’s HR 7311, ‘Countering Malign Russian Activities in Africa Act’ introduced by House Foreign Affairs Committee Chairman and Congressional Black Caucus member Gregory Meeks, was passed with the unanimous approval of every Democrat in Congress on April 28, 2022. The bill calls for assessments of Russia’s influence on the African continent and states that the US will ‘hold accountable’ Russia and African governments who are ‘complicit in aiding such malign influence’.

     HR 7311 is a reaction to African nations that refrained from condemning Russia’s military operation in Ukraine; and as a deterrent against African nations acting as Mali has done, by ending French military presence and turning toward Russian private military company Wagner for assistance. On May 16 the Mali government announced that Wagner played a role in thwarting a failed coup attempt allegedly carried out by a group of local soldiers, foreign mercenaries, and units from NATO member countries… The US bombed Somalia February 22, 2 days before Russian Federation began military operations in Ukraine. – ee Sovereignty, Somalia

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B. Special Focus_

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B1. Made in China 2025

ee reproduces below an excerpt from a US English translation of China’s State Council economic strategy: Made in China 2025. Published May 8, 2015, the strategy aims: ‘both to increase the competitiveness and global market share of the Chinese manufacturing industry and to reduce China’s dependence on foreign manufactured goods. The Council asked the people’s governments of all provinces, autonomous regions, municipalities, and all ministries and commissions of the State Council and their respective agencies’: to implement thisstrategy ‘meticulously’.

     Without knowing Chinese, we suspect this ‘machine translation’ of the strategy lacks depth. It’s possible what is translated as ‘manufacturing’, may very well mean ‘a system of production’. So, again emphasizing the distinction between handicraft, manufacturing (assembly), and modern industry, ee notes, this English translation below uses ‘manufacturing’ in its general sense (make something on large scale using machinery) vs technical sense (of pre-industrial industry, assembly, etc.). The English have no need to educate us on such distinctions, seeing this confusion, perhaps rightfully, as integral to maintaining our underdevelopment.

‘Manufacturing is the mainstay of the national economy, the basis on which the nation is established, an instrument of rejuvenation, and the foundation of a world power.

     Since the beginning of industrial civilization in the mid 18th century, the history of the rise and fall of world powers and the history of the struggle of the Chinese nation has repeatedly proved that without a strong manufacturing industry, there will be no country & no nation. Building an internationally competitive manufacturing industry is the only way China can enhance its comprehensive national strength, ensure national security, and build itself into a world power.

     Since the founding of New China [in 1949], especially since the beginning of reform and opening up [1978], China’s manufacturing industry has continued to develop rapidly. A complete, independent and whole industrial system has been built, which has firmly promoted the process of industrialization & modernization, significantly enhanced comprehensive national strength, and supported China’s status as a great power in the world.

     However, China’s manufacturing industry is still large but not strong compared with globally advanced levels, having significant gaps in independent innovation capabilities, resource utilization efficiency, industrial structure level, degree of informatization, and quality and efficiency. The tasks of transformation, upgrading, and development by leaps and bounds are urgent and daunting.

     At present, the new round of Science & Technology (S&T) revolution and industrial transformation has formed a historical intersection with the accelerated transformation of China’s economic development model, reshaping the international industrial division of labor.

     We must firmly seize this great historical opportunity. Per the ‘4 comprehensives’ strategic layout*, we must implement the manufacturing powerhouse strategy, and strengthen overall planning and forward-looking deployment. After 3 decades of hard work and by the 100th anniversary [2049] of New China’s founding, build China into a manufacturing powerhouse that leads the development of the global manufacturing industry; lay a solid foundation for realizing the Chinese Dream of the great rejuvenation of the Chinese nation.

     Made in China 2025 is a program of action for the first 10 years of China’s implementation of the manufacturing powerhouse strategy.

     [*The ‘4 Comprehensives’ are: comprehensively establish a well-off society, comprehensively deepen reform, comprehensively govern the country according to law, comprehensively govern the party strictly]

1. Development situation & environment

     (1) The structure of global manufacturing faces major adjustments: The deep integration of new generation information technology and manufacturing trigger far-reaching industrial changes, forming new production methods, industrial forms, business models, and economic growth points. All countries are intensifying S&T innovation and promoting breakthroughs in 3D printing, mobile internet, cloud computing, big data, bioengineering, new energy, and new materials. Smart manufacturing based on cyber-physical systems, such as intelligent equipment and smart factories, is leading the transformation of manufacturing methods; network crowdsourcing, collaborative design, mass customization, precise supply chain management, total lifecycle management, and e-commerce are reshaping the industrial value chain system; smart terminal products such as wearable smart products, smart home appliances, and intelligent vehicles continue to expand into new fields of manufacturing. The transformation, upgrading, innovation, and development of China’s manufacturing industry are ushering in a major opportunity.

     The pattern of global industrial competition is undergoing major adjustments, and China faces enormous challenges in this new round of development. After the international financial crisis, developed countries have implemented the strategy of ‘re-industrialization’ one after another, reshaping unique competitive advantages in the manufacturing industry and accelerating a new round of global trade and investment. Some developing countries are also speeding up their planning and deployment, actively participating in the redivision of global industries, undertaking industrial and capital transfers, and expanding the international market space. China’s manufacturing industry faces the severe challenge of a ‘2-way squeeze’ from developed countries and other developing countries. It must look to the world, step up strategic deployment, focus on building a manufacturing powerhouse, shore up its roots, and turn challenges into opportunities to seize the commanding heights of a new round of competition in the manufacturing industry.

     (2) China’s economic development environment has undergone significant changes: With the simultaneous advancement of new industrialization, informatization, urbanization, and agricultural modernization, the potential for ultra-large domestic demand has been continuously released, providing a broad space for developing China’s manufacturing industry. The new equipment needs of various industries, the unique consumption needs of the people, the new livelihood needs of social management and public services, and the new security needs of national defense building all require the manufacturing industry to rapidly improve its level and capability in major technological equipment innovation, consumer product quality and safety, supply of public service facilities and equipment, and defense equipment support. Comprehensively deepening reform and further opening up will continuously stimulate the vitality and creativity of the manufacturing industry and promote the transformation and upgrading of the manufacturing industry.

     China’s economic development has entered a new normal, and the development of the manufacturing industry is facing new challenges. Constraints on resources and the environment continue to grow, the cost of factors of production such as labor continues to rise, and the growth rate of investment and exports has slowed significantly. To form a new driving force for economic growth and create unique advantages in international competition, the focus is on the manufacturing industry, the difficulty lies in the manufacturing industry, and the way out is also through the manufacturing industry.

     (3) The task of building a manufacturing powerhouse is arduous & urgent: After decades of rapid development, the scale of China’s manufacturing industry ranks first in the world, and a complete, independent, and whole manufacturing system has been established, which has become an important cornerstone to support China’s economic and social development and an essential force for promoting global economic growth. Continuous technological innovation has dramatically improved the comprehensive competitiveness of China’s manufacturing industry. Breakthroughs have been made in manned spaceflight, manned deep diving, large aircraft, Beidou satellite navigation, supercomputers, high-speed rail equipment, million kilowatt-class power generation equipment, 10,000m deep-sea oil drilling equipment, and other major technological equipment, forming several well-positioned industries and key enterprises with international competitiveness, giving China the foundation and conditions for building itself into an industrial powerhouse.

     However, China is still in the process of industrialization, and there is still a major gap compared with advanced countries. The manufacturing industry is large but not strong. The capacity for independent innovation is weak, and key & core technologies and high-end equipment are highly dependent on foreign countries. The manufacturing innovation system with enterprises as the mainstay is not perfect. Product quality is not high, and there is a lack of world-renowned brands. The efficiency of resource & energy utilization is low, and the problem of environmental pollution more pronounced. The industrial structure is unreasonable, and the development of high-end equipment manufacturing and producer services lags behind other countries. The level of informatization is not high, the depth of integration with industrialization insufficient. The degree of industrial internationalization is not high, and the globalization of enterprises inadequate. To promote the construction of a manufacturing powerhouse, we must focus on solving the above problems.

     To build a manufacturing powerhouse, we must firmly seize this rare strategic opportunity, actively respond to challenges, strengthen overall planning, highlight innovation drivers, formulate special policies, give full play to institutional advantages, mobilize the whole of society to work hard, rely more on Chinese equipment and depend on Chinese brands, realize the transformation from Made in China to Created in China, the transformation of Chinese speed to Chinese quality, the transformation of Chinese products to Chinese brands, and complete the strategic task of growing Chinese manufacturing from big to strong…(for full text: gov.cn/zhengce/content/2015-05/19/content_9784.htm)

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C. News Index______________________________________________

ee News Index provides headlines & links to make sense of the weekly focus of published English ‘business news’ to expose the backwardness of multinational, corporate controlled ‘local media’:

C1. Sovereignty

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

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

Reclaim Kachchatheevu: Stalin tells Modi

– newsfirst.lk/2022/05/27/kachchatheevu-causes-bjp-dmk-controversy/

– newsfirst.lk/2022/05/26/reclaim-kachchatheevu-stalin-tells-modi/

– island.lk/modi-government-moves-to-solve-katchatheevu-issue/

• Katchchatheevu: Lankan fishermen against Indian claims

– newsfirst.lk/2022/05/28/katchchatheevu-lankan-fishermen-against-indian-claims/

• Tamil Nadu Stalin Stresses Federalism During Modi’s Visit, BJP Says ‘Petty Politics’

– newsclick.in/TN-this-week-stalin-ntresses-federalism-modi-visit-BJP-petty-politics

• India gifts kerosene to fishermen in Northern islets in soft-peg collapse

– economynext.com/india-gifts-kerosene-to-fishermen-in-northern-islets-in-soft-peg-collapse-94872/

• India gifts Sri Lanka drugs as currency collapse, price controls hit supplies

– economynext.com/india-gifts-sri-lanka-drugs-as-currency-collapse-price-controls-hit-supplies-94870/

• TNA calls for resignation of President, PM, fresh polls

– ft.lk/top-story/TNA-calls-for-resignation-of-President-PM-fresh-polls/26-735447

• US Pathfinder Foundation signs MOU with Maritime Research Centre, India

‘Dr. (Cdr.) Arnab Das, Founder and Director of the Maritime Research Centre and Dr Dayaratna Silva, Executive Director of the Pathfinder Foundation…Prof. Wasantha Rathnayake, Vice Chancellor of the Ocean University of Sri Lanka, Mrs. Dharshani Lahadapura, Chairperson of Marine Environment Protection Authority (MEEPA) and Colonel Pradeep Rathnayake and Dr Sanath de Silva, Dean and Senior Lecturer of the Faculty of Defence & Strategic Studies of General Sir John Kotelawala Defence University…Das presented MRC’s Underwater Domain Awareness (UDA) Framework with Nir Dhwani Technologies (NDT) Ltd. ‘

– island.lk/pathfinder-foundation-signs-mou-with-maritime-research-centre-india/

• New PM could bring about political stability in SL: U.S. Ambassador tells Speaker

– dailymirror.lk/latest_news/New-PM-could-bring-about-political-stability-in-SL-U-S-Ambassador/342-237918

• U.S ambassador stresses need for political reforms desired by people

– adaderana.lk/news/82730/us-ambassador-stresses-need-for-political-reforms-desired-by-people

English envoy calls on Foreign Minister to discuss recent developments

– adaderana.lk/news/82729/british-envoy-calls-on-foreign-minister-to-discuss-recent-developments-

Japan Maritime Self-Defence Force honours war dead at Borella cemetery

‘2 JMSDF warships departed Colombo on May 21 after 3-day visit’

– island.lk/japan-maritime-self-defence-force-honours-war-dead-at-borella-cemetery/

• India, Japan to work together to help Sri Lanka during crisis

‘after Prime Minister Ranil Wickremesinghe’s proposal that Quad members— the United States, India, Japan and Australia — take the lead in setting up a foreign aid consortium to assist Sri Lanka…’

– dailymirror.lk/business-news/India-Japan-to-work-together-to-help-Sri-Lanka-during-crisis/273-237896

– ft.lk/front-page/India-Japan-to-work-together-to-help-Sri-Lanka/44-735438

– adaderana.lk/news/82707/india-and-japan-to-work-together-to-assist-sri-lanka-during-crisis

– lankaweb.com/news/items/2022/05/27/india-japan-to-work-together-to-assist-sri-lanka/

• India will support democracy, stability in Sri Lanka: PM Modi

‘“The Tamil language is eternal and the Tamil culture is global. From Chennai to Canada, from Madurai to Malaysia, from Namakkal to New York, from Salem to South Africa,…’

– ft.lk/business/India-will-support-democracy-stability-in-Sri-Lanka-PM-Modi/34-735434

– themorning.lk/india-will-support-democracy-stability-in-sri-lanka-pm-modi/

• Moragoda and Indian Finance Minister evaluate status of economic cooperation, way forward

– ft.lk/business/Milinda-and-Indian-Finance-Minister-evaluate-status-of-economic-cooperation-way-forward/34-735433

– newsfirst.lk/2022/05/27/moragoda-meets-with-indian-finance-minister/

– economynext.com/sri-lanka-in-talks-with-india-to-re-structure-and-expand-trade-credits-94854/

– lankaweb.com/news/items/2022/05/27/high-commissioner-of-sri-lanka-and-the-finance-minister-of-india-evaluate-the-status-of-ongoing-economic-cooperation-and-discuss-the-way-forward/

• In crisis-hit Sri Lanka, India holds all the cards

‘It recently sought a rapid finance instrument from the IMF on Sri Lanka’s behalf. This was extremely unusual, observers said….“Medicine, food and electricity are available because of Indian assistance.”’

– qz-com.cdn.ampproject.org/c/s/qz.com/india/2165951/india-helps-crisis-hit-sri-lanka-and-gains-much/amp

• How Lanka ended up receiving humanitarian assistance from an Indian state

‘Minister for Ports and Shipping, Nimal Siripala de Silva, Former Minister Vajira Abeywardena, Sagala Ratnayaka, Chief of Staff of the Prime Minister, Senthil Thondaman, Leader of the Ceylon Workers Congress, Food Commissioner Mrs. J. Krishnamurthy, among senior officials, and others.’

– island.lk/how-lanka-ended-up-receiving-humanitarian-assistance-from-an-indian-state/

• Crisis-hit Sri Lanka Planning to Study on Oil Exploration in Mannar Basin: Minister

‘There were about 5 billion barrels of fuel and about 5 trillion cubic feet of natural gas in the Mannar Basin, which is enough to meet the needs of about 60 years’

– lankaweb.com/news/items/2022/05/24/crisis-hit-sri-lanka-planning-to-study-on-oil-exploration-in-mannar-basin-minister/

• CWC asks Indian Fin Min for emergency power transmission cable from India to Sri Lanka

– sundaytimes.lk/220522/columns/only-luxury-vehicles-welcome-at-the-pms-office-483562.html

• Rice, milk powder, and medicines flagged off from Chennai by Chief Minister of Tamil Nadu

– dailymirror.lk/breaking_news/India-supplies-another-40-000-metric-tonnes-of-diesel-to-Sri-Lanka/108-237473

– timesonline.lk/news-online/Rs-2-billion-worth-Indian-humanitarian-assistance-handed-over-to-Govt/2-1137616

• Hopefully India will speak on behalf of Lanka at Quad summit in Tokyo next week – Sunday Times Editorial

– sundaytimes.lk/220522/editorial/viva-la-republica-483570.html

• Sri Lanka to seek additional $ 500 mn Indian loan for fuel

‘Earlier, the country received two fuel credit lines from India including US$ 500 million from the Exim Bank of India and another US$ 200 million from State Bank of India’

– dailymirror.lk/business-news/Cabinet-nod-to-seek-US-500mn-fuel-credit-line-from-India-afresh/273-237674

– lankaweb.com/news/items/2022/05/24/sri-lanka-to-seek-additional-500-mn-indian-loan-for-fuel/

• SL tells India: bridge financing needed till IMF programme worked out

‘increasing and restructuring the India’s assistance in the form of credits for essential commodities and fuel, and balance of payment support was explored’

– dailymirror.lk/main_image/SL-tells-India-bridge-financing-needed-till-IMF-programme-worked-out/346-237878

• New York featured more frequently on Indian prime ministerial itineraries than Sri Lanka

– ft.lk/opinion/Dr-Shashi-Tharoor-talks-India-way-for-Sri-Lanka/14-735203

• US Ambassador meets Sri Lankan Speaker

– newsfirst.lk/2022/05/27/us-ambassador-meets-sri-lankan-speaker/

• ‘China has always come to Sri Lanka’s aid in times of need’: envoy

– lankaweb.com/news/items/2022/05/26/china-has-always-come-to-sri-lankas-aid-in-times-of-need%ef%bc%9aenvoy/

• Additional funding from China will not complicate ties with India: Ranil

‘acknowledging that the support from India would be limited going forward, Wickremesinghe said Sri Lanka would have to rely on its ties with Japan and China for further funding’

– dailymirror.lk/business-news/Additional-funding-from-China-will-not-complicate-ties-with-India-Ranil/273-237898

• Aruni Wijewardane appointed as new Foreign Secretary

‘Wijewardane also served as the Director of the Secretariat of the policy making organs of the International Atomic Energy Agency (IAEA) in Vienna…President Gotabaya Rajapaksa had appointed Admiral Colombage to the Secretary post, but many officials at the foreign ministry criticized the way he dealt with foreign services and diplomacy’

– economynext.com/sri-lanka-gets-career-foreign-service-officer-as-mfa-secretary-94587/

– dailymirror.lk/latest_news/Aruni-Wijewardane-appointed-as-new-Foreign-Secretary/342-237558

– timesonline.lk/news-online/New-Foreign-Secretary-Aruni-Wijewardane-assumes-duties/2-1137615

– island.lk/foreign-secy-admiral-colomage-replaced/

– island.lk/colombage-says-he-opted-out-of-fm/

• Sri Lanka’s inevitable food crisis addressed at Friday’s UN briefing

– sundaytimes.lk/220522/columns/only-luxury-vehicles-welcome-at-the-pms-office-483562.html

• Crisis talks: UN ready to assist

– island.lk/crisis-talks-un-ready-to-assist/

• US Treasury plan paves way for aid to tackle Sri Lanka hunger

– sundaytimes.lk/220522/news/us-treasury-plan-paves-way-for-aid-to-tackle-sri-lanka-hunger-483615.html

• USAID’s Samantha Power pledges support for Sri Lanka to ride out crisis situation

‘She also expressed her sympathy for those Sri Lankans who were killed or injured in the political unrest earlier this month.’

– lankaweb.com/news/items/2022/05/24/usaid-pledges-support-for-sri-lanka-to-ride-out-crisis-situation/

– ft.lk/news/PM-holds-phone-conversation-with-USAID-Administrator-Samantha-Power/56-735284

• Lanka’s Ambassador in Tokyo quits amidst bid to secure USD loan

‘Japanese Ambassador in Colombo Mizukoshi Hideaki after having met new Premier Ranil Wickremesinghe immediately after the latter’s appointment left for Tokyo’

– island.lk/lankas-amb-in-tokyo-quits-amidst-bid-to-secure-usd-loan/

• Sri Lanka registers strong protest with Canada on House of Commons motion

– ft.lk/news/Sri-Lanka-registers-strong-protest-with-Canada-on-House-of-Commons-motion/56-735184

• Sri Lanka’s rejection of Millennium Challenge Compact (MCC) a miscalculation and mistake

– dailymirror.lk/business-news/Sri-Lanka-needs-to-jump-through-hoops-to-overcome-current-crisis/273-237559

• Will India Fall for US Offer on Fighters for Indian Aircraft Carriers?

‘while the PM was attending the Quad summit with the US President and the Japanese and Australian Prime Ministers, two F/A-18 E Block III fighter jets were in Goa for shore-based and flight tests as part of the procurement process for an Indian Navy tender for 26 carrier-based multi-role fighters’

– newsclick.in/will-india-fall-us-offer-fighters-indian-aircraft-carriers

• Thai Government listening to concerns over draft law on public gatherings, NGO funding

– thethaiger.com/hot-news/politics/government-says-pm-listening-to-concerns-over-draft-law-on-public-gatherings-ngo-funding

• Online campaign to gather 1 million Thai signatures to expel Amnesty International (AI)

– bangkokpost.com/opinion/opinion/2251007/ngo-bill-problematic

• Indo-Pacific power dynamic in radical shift

– indianpunchline.com/indo-pacific-power-dynamic-in-radical-shift/

• China to provide South Pacific countries ‘what US, Australia failed to offer’

– globaltimes.cn/page/202205/1266550.shtml

• The Quad plays insidious tricks: Global Times editorial

– globaltimes.cn/page/202205/1266489.shtml

• US’ IPEF will be a hard sell in Indo-Pacific

– indianpunchline.com/ipef-will-be-a-hard-sell-in-indo-pacific/

• Biden’s Asia policy: Indo-Pacific framework to begin with 13 nations, including India

– asia.nikkei.com/Politics/International-relations/Biden-s-Asia-policy/Indo-Pacific-framework-to-begin-with-13-nations-including-India

• Biden Launches Indo-Pacific Trade Deal

– thediplomat.com/2022/05/biden-launches-indo-pacific-trade-deal/

• Quad Summit: Despite Western Pressure, India Will Be Able to Stand Its Ground in Tokyo

‘US said that it saw its China strategy as “global in scope”, and “Indo-Pacific as a particularly intense region of competition”.’

– news18.com/news/opinion/quad-summit-despite-western-pressure-india-will-be-able-to-stand-its-ground-in-tokyo-5216695.html

• Imran Khan Gives 6-day Ultimatum to Pak Govt to Announce Fresh Polls; PM Sharif Says ‘Dictation Won’t Work’

– news18.com/news/world/imran-khan-gives-6-day-ultimatum-to-pak-govt-to-announce-fresh-polls-pm-sharif-says-dictation-wont-work-5255269.html

• White House Rejects US President’s Foreign Policy

‘’Strategic Ambiguity’ on Taiwan Apparent as White House Walks Back Biden Comments’

– moonofalabama.org/2022/05/white-house-rejects-presidents-foreign-policy.html

• Asia’s ambivalence towards sanctioning Russia

‘many voted in the United Nations to condemn Russia’s territorial aggression, only a handful agreed to impose their own sanctions, while several have openly opposed the sanctions regime.’

– eastasiaforum.org/2022/05/22/asias-ambivalence-towards-sanctioning-russia/

• Continuing efforts to sell new US weapons to nations which discard their old ones in Ukraine

– moonofalabama.org/2022/05/flag-abuse-and-other-bits-on-ukraine.html

• In the wake of Russian victory in Mariupol

– indianpunchline.com/in-the-wake-of-russian-victory-in-mariupol/

• Ukraine after 90 days of war – Bhadrakumar

‘Over the last weekend, Moscow publicly voiced disquiet over a English statement about the possibility of NATO arms supplies to Moldavia.

– indianpunchline.com/ukraine-after-90-days-of-war/

• Canada and Ukrainian Fascists

‘The US and its NATO allies, Canada included, are waging war on Russia in all but name’

– defenddemocracy.press/canada-and-ukrainian-fascsists/

• Collective Security Treaty Organisation won’t be drawn into Ukraine war

– indianpunchline.com/csto-wont-be-drawn-into-ukraine-war/

• Russia’s Lavrov says Finland, Sweden joining NATO makes ‘no big difference’

– reuters.com/world/europe/russias-lavrov-says-finland-sweden-joining-nato-makes-no-big-difference-2022-05-17/

• Protests in Finland: No to NATO, Yes to Peace!

– socialistproject.ca/2022/05/protest-finland-no-nato-yes-peace/

• As Things Fall Apart Biden May Want To Escalate

– moonofalabama.org/2022/05/as-things-fall-apart-biden-may-want-to-escalate.html

• US control of Alexandroupolis Port will not help protect Greece from Turkey

‘The Greek Private Asset Utilization Fund (HRADF) will sell a 67% stake of Alexandroupolis Port in northern Greece near the border with Turkey and Bulgaria. Two US companies are believed to be interested in the deal. Selling a port of strategic importance to US companies, coupled with the availability of the facility for US and NATO troops, is raising many questions in Greece.’

– greekcitytimes.com/2020/08/29/u-s-control-of-alexandroupolis-port-will-not-help-protect-greece-from-turkey/

• On African Liberation Day Biden’s Troop Deployment to Somalia Confirms Africa is Not Free

– blackagendareport.com/african-liberation-day-bidens-troop-deployment-somalia-confirms-africa-not-free

• Biden Redeploys Pentagon Troops to Somalia While Humanitarian Crisis Looms

– blackagendareport.com/biden-redeploys-pentagon-troops-somalia-while-humanitarian-crisis-looms

• The USA Gives Us Hell but it’s a Liberated Africa that Can Douse the Flames

– blackagendareport.com/us-gives-us-hell-its-liberated-africa-can-douse-flames

• The Rise of NATO in Africa

– newsclick.in/the-rise-NATO-africa

• US labs in Nigeria responsible for monkeypox outbreak

– presstv.ir/Detail/2022/05/28/682886/Russia-alleges-US-labs-in-Nigeria-responsible-for-monkeypox-outbreakSaturday

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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.

• Shavendra quits as Army Chief; to take over as Chief of Defence Staff

– ft.lk/front-page/Shavendra-quits-as-Army-Chief-to-take-over-as-Chief-of-Defence-Staff/44-735352

• Vikum Liyanage new Army Commander

– island.lk/vikum-liyanage-new-army-commander/

– economynext.com/maj-gen-vikum-liyanage-to-be-appointed-army-commander-on-june-01-94760/

– lankaweb.com/news/items/2022/05/26/general-vikum-liyanage-to-be-appointed-as-the-new-commander-of-the-army/

– timesonline.lk/news-online/Major-General-Vikum-Liyanage-to-be-new-Army-Commander/2-1137655

• Committee to inquire into tri-forces and recent incidents

‘The committee comprises Admiral of the Fleet Wasantha Karannagoda, Marshal of the Air Force Roshan Gunathilake and General R.M. Daya Ratnayake, all three are former commanders of the Navy, the Air Force and the Army, respectively.’

– island.lk/vikum-liyanage-new-army-commander

– lankaweb.com/news/items/2022/05/26/committee-to-probe-lapses-by-tri-forces-during-recent-unrest/

• Wing Commander Kannangara elected President of Industrial Security Foundation (ISF)

‘serves as a Board Director in AB Securitas in Sri Lanka, and AB Securitas Bangladesh…

Senior Vice President – (Retd.) Maj. Krishan De Silva, Vice President – (Retd.) Maj. Ananda Rodrigo, Secretary – Tony Perera, Treasurer – Capt. Nalaka Silva…ISF represents the private security industry on the Government Wages Board as a permanent member. ISF Member exceed 150 at present’

– themorning.lk/pradeep-kannangara-elected-president-of-isf/

– island.lk/wing-commander-retd-d-pradeep-s-kannangara-elected-president-industrial-security-foundation/

• Public Security Ministry Secretary Maj. Gen. Jagath Alwis writes to CJ, to apologise

– sundaytimes.lk/220522/news/maj-gen-retd-jagath-alwis-again-writes-to-cj-this-time-to-apologise-483617.html

• More than 1200 taken into custody after May 9 unrest; Police expect more arrests

– sundaytimes.lk/220522/news/more-than-1200-taken-into-custody-after-may-9-unrest-police-expect-more-arrests-483591.html

– economynext.com/sri-lanka-police-arrest-117-more-over-may-09-mob-violence-94741/

• Allegations of the police facilitating attacks on protesting public

– island.lk/mr-had-not-decided-to-resign-on-09-may-says-weerasekra/

• Police Apathy at Galle Face Green – Gunaratne

– island.lk/police-apathy-at-galle-face-green/

• Govt. launches joint operation to apprehend groups inciting violence

– ft.lk/news/Govt-launches-joint-operation-to-apprehend-groups-inciting-violence/56-735286

• Silent protest demanding justice for Galle Face attack

– timesonline.lk/news-online/In-Pictures-Silent-protest-demanding-justice-for-Galle-Face-attack/2-1137646

• Johnston avoids protesters, leaves CID

– timesonline.lk/news-online/Johnston-avoids-protesters-leaves-CID/2-1137631

• HRCSL questions prisoners allegedly used in 9 May attacks

– themorning.lk/hrcsl-questions-prisoners-allegedly-used-in-9-may-attacks/

• Galle Face protesters insist govt. to end repression and witch-hunting

– dailymirror.lk/breaking_news/Galle-Face-protesters-insist-govt-to-end-repression-and-witch-hunting/108-237747

• Sri Lanka police arrest four suspects over Black Monday mob attacks on MPs

– economynext.com/sri-lanka-police-arrest-four-suspects-over-black-monday-mob-attacks-on-mps-94845/

• Sri Lanka’s insurance losses from anti-Rajapaksa riots to top billion rupees: Fitch

– economynext.com/sri-lankas-insurance-losses-from-anti-rajapaksa-riots-to-top-billion-rupees-fitch-94799/

– newsfirst.lk/2022/05/26/losses-from-sri-lankas-riots-manageable-for-insurers-likely-to-exceed-rs-1bn-says-fitch/

• Sri Lankan crisis: State-owned insurance firm likely to incur losses in excess of LKR 1 billion

‘State-owned National Insurance Trust Fund Board (NITFB), which provides strike, riot, civil commotion and terrorism cover (SRCCT) to the island nation will bear the brunt’

– dailymirror.lk/breaking_news/Sri-Lankan-crisis-State-owned-insurance-firm-likely-to-incur-losses-in-excess-of-LKR-1-billion/108-237917

• Fourteen suspects in total under arrest over killing of MP Amarakeerthi

– lankaweb.com/news/items/2022/05/26/fourteen-suspects-in-total-under-arrest-over-killing-of-mp-amarakeerthi/

• Drones are a threat to citizens’ privacy and national security

‘drones had been used to obtain accurately the locations and access roads of the large number of houses of politicians that were attacked and burnt down, needs serious investigation’

– dailymirror.lk/front_page/Drones-are-a-threat-to-citizens-privacy-and-national-security/238-237864

• Another local nabbed with USD 50,000 in Rajagiriya

– dailymirror.lk/breaking_news/Another-local-nabbed-with-USD-50-000-in-Rajagiriya/108-237480

• Kush worth Rs.23.8Mn seized at Central Mail Exchange

– dailymirror.lk/latest_news/Kush-worth-Rs-23-8Mn-seized-at-Central-Mail-Exchange/342-237654

• Smuggling in Velvettithurai (VVT)

– island.lk/experiences-schooling-at-jaffna-college/

• First look AZOV Азов Ukraine in Prison custody of Russia English subtitles

– youtube.com/watch?v=MtNS2yD7Q2A

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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.

• COPE reveals 10 firms behind People’s Bank losses

‘Yashoda Group, CML MTD Group, Mihin Lanka, W.M. Mendis and Co., Huravee International, Daya Apparel Group, Nawaloka Group, Good Fellows, Rican Lanka, and Graline Express are the enterprises that borrowed loans that later became NPLs due to non-repayment.’

– themorning.lk/cope-reveals-10-firms-behind-peoples-bank-losses/

• Situation going from bad to worse for Sri Lanka as World Bank denies releasing fresh funds

– lankaweb.com/news/items/2022/05/25/situation-going-from-bad-to-worse-for-sri-lanka-as-world-bank-denies-releasing-fresh-funds/

– lankaweb.com/news/items/2022/05/25/no-new-financing-for-sri-lanka-without-macroeconomic-policy-framework-wb/

• Sri Lanka’s crisis is a result of mismanagement: IMF Chief

– dailymirror.lk/breaking_news/Sri-Lankas-crisis-is-a-result-of-mismanagement-IMF-Chief/108-237804

• Capitulating to IMF will cause massive unemployment, warns economist

‘The International Monetary Fund (IMF) has one-point agenda in Pakistan, namely the privatisation of all the assets of the country which will cause large-scale unemployment.’

– lankaweb.com/news/items/2022/05/28/capitulating-to-imf-will-cause-massive-unemployment-warns-economist/

• Economic crisis: MR, ministers, CBSL Governor, Dr. PBJ ignored IMF warnings

‘The parliamentary watchdog was told by CBSL Governor Nandalal Weerasinghe how the International Monetary Fund (IMF) had warned the then Governor of the Central Bank, Prof. W. D. Lakshman, and Treasury Secretary S. R. Attygalle, of Sri Lanka’s inability to procure loans unless the country undertook debt restructuring immediately’

– island.lk/economic-crisis-mr-ministers-cbsl-governor-dr-pbj-ignored-imf-warnings/

– economynext.com/sri-lanka-ignored-imf-2020-warning-that-debt-was-unsustainable-cope-told-94746/

• IMF team led by Peter Breuer and Masahiro Nozaki concludes virtual mission, May 9-24

‘discussions focused on restoring fiscal sustainability…ensuring credibility of the monetary policy and exchange rate regimes; preserving financial sector stability; and structural reforms to enhance growth and strengthen governance.’

– dailymirror.lk/breaking_news/IMF-reaffirms-its-commitment-to-support-SL-in-line-with-its-policies/108-237795

– lankaweb.com/news/items/2022/05/26/imf-staff-concludes-virtual-mission-to-sl-reaffirm-commitment-to-support-sl/

• IMF staff concludes 16-day virtual mission to Sri Lanka

– ft.lk/front-page/IMF-staff-concludes-16-day-virtual-mission-to-Sri-Lanka/44-735350

• Govt. to finalise program for IMF appraisal within two weeks, IMF delegation expected after

– ft.lk/front-page/PM-to-make-special-statement-to-Parliament-on-economic-situation/44-735347

• IMF says “require adequate assurances” on Sri Lanka’s debt sustainability restoration

– economynext.com/imf-says-require-adequate-assurances-on-sri-lankas-debt-sustainability-restoration-94794/

– newsfirst.lk/2022/05/26/adequate-assurance-needed-for-imf-support/

– lankaweb.com/news/items/2022/05/27/sri-lanka-debt-unsustainable-need-adequate-assurances-on-reforms-imf-on-debt-reconstruction/

• CB officials warned of an economic meltdown about two years ago, but were ignored

– island.lk/running-hunting-and-flying-trapeze/

• England in talks with Paris Club on Sri Lanka issue

– dailymirror.lk/breaking_news/UK-in-talks-with-Paris-Club-on-Sri-Lanka-issue/108-237763

• England working with fellow Paris Club members to help SL on external debt crisis

‘Conservative MP for Chelmsford Vicky Ford who holds the Government post of Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)…was responding to a question posed by Conservative MP for Hendon Dr. Matthew Offord who is also Chair of the All Party Parliamentary Group on Sri Lanka.’

– ft.lk/front-page/UK-working-with-fellow-Paris-Club-members-to-help-SL-on-external-debt-crisis/44-735441

• CB Implements Extraordinary Measures to support the Banking Sector

http://bizenglish.adaderana.lk/cb-implements-extraordinary-measures-to-support-the-banking-sector/

• Sri Lanka crisis; India-Japan ties – Shiran Illanperuma

– presstv.ir/Detail/2022/05/20/682414/Sri-Lanka-Crisis-India-Japan-Ties

• World Bank says no new financing for Sri Lanka without policy framework

– lankaweb.com/news/items/2022/05/24/world-bank-says-no-new-financing-for-sri-lanka-without-policy-framework/

– timesonline.lk/news-online/No-new-financing-to-Sri-Lanka-until-an-adequate-macroeconomic-policy-framework-is-in-place-World-Bank/2-1137635

– island.lk/world-bank-rules-out-bridging-finance-to-sri-lanka-until-it-gets-its-policy-framework-in-order/

• Is a section of the government advancing a hidden agenda by aggravating the fuel problem?

– island.lk/government-boost-for-gotagohome-phase-ii/

• Sri Lanka picks Lazard, Clifford Chance as advisers for landmark debt restructuring

‘Lazard of France had been chosen for financial advice and Clifford Chance for legal advice.’

– dailymirror.lk/breaking_news/Sri-Lanka-picks-Lazard-Clifford-Chance-as-advisers-for-landmark-debt-restructuring-sources/108-237614

– island.lk/country-retains-services-of-two-international-financial-and-legal-advisors-to-help-restructure-its-external-debt/

– ft.lk/front-page/Govt-picks-Lazard-Clifford-Chance-as-advisers-for-external-debt-restructuring/44-735277

• IMF Chief expresses concern over protests in Sri Lanka could be repeated in other countries

– island.lk/imf-chief-expresses-concern-over-protests-in-sri-lanka/

• Parliamentary Select Committee to identify those responsible for current economic crisis

– sundaytimes.lk/220522/news/psc-to-identify-those-responsible-for-current-economic-crisis-483624.html

– adaderana.lk/news/82678/cope-recommends-appointing-psc-to-probe-causes-of-sri-lankas-economic-crisis

• Street protests with a utopian dream won’t bring solutions for such questions – Sabry

– island.lk/sabry-says-he-abhors-sl-political-culture/

• Can Ranil Wickremesinghe solve economic crisis?

‘The day after taking oaths, he initiated talks with the foreign envoys on the formation of a foreign consortium for financial assistance’

– dailymirror.lk/features/Can-Ranil-Wickremesinghe-solve-economic-crisis/185-237507

• Protests seen in SL could be repeated in other countries, if Governments fail to support poor –IMF chief

– dailymirror.lk/breaking_news/Protests-seen-in-SL-could-be-repeated-in-other-countries-if-Governments-fail-to-support-poor-IMF-chief/108-237483

– lankaweb.com/news/items/2022/05/22/sri-lanka-like-protests-could-erupt-in-other-nations-warns-imf/

• Sri Lanka will need structural reforms for debt sustainability

‘On 19 May, the G-7 economic powers announced their support for debt relief efforts for Sri Lanka.’

– lankaweb.com/news/items/2022/05/23/sri-lanka-will-need-structural-reforms-for-debt-sustainability/

• Rescuing the country’s perilous economy and stabilising it – Sanderatne

‘The fundamental cause for the economic problem lies in the weakness in the balance of payments’

– sundaytimes.lk/220522/columns/rescuing-the-countrys-perilous-economy-and-stabilising-it-483454.html

• Deeper issue: how to achieve both government finance & external finance stability – Abeyratne

– sundaytimes.lk/220522/business-times/learning-through-a-hard-knock-483085.html

• Child’s guide to currency board systems – Part IV: Prof. Steve Hanke’s crusade for currency boards – Wijewardena

– ft.lk/columns/Child-s-guide-to-currency-board-systems-Part-IV-Prof-Steve-Hanke-s-crusade-for-currency-boards/4-735168

• Sri Lanka is in a death spiral – ‘world-renowned economist’ Hanke

– lankaweb.com/news/items/2022/05/21/sri-lanka-is-in-a-death-spiral-economist/

• Food Shortage and Anarchy Challenge Sri Lanka’s New Govt – Balachandran

– thecitizen.in/index.php/en/newsdetail/index/6/21891/food-shortage-and-anarchy-challenge-sri-lankas-new-govt

• IMF praises India’s help to Sri Lanka amid ongoing economic crisis

– livemint.com/news/world/imf-praises-india-s-help-to-sri-lanka-amid-ongoing-economic-crisis-11650351434641.html

• Rating agencies lowered country rates to levels nearing insolvency made borrowing impossible

– ft.lk/columns/Galle-Face-peoples-struggle-A-recap/4-735093

• Transform loss-making enterprises into profitable centres or sell them

– sundaytimes.lk/220522/business-times/selling-a-troubled-airline-483090.html

• No dollars to pay for essentials
– island.lk/what-if-gota-wont-go/

• How can the new PM overcome the Sri Lankan crisis

– lankaweb.com/news/items/2022/05/24/how-can-the-new-pm-overcome-the-sri-lankan-crisis/

• President is Acting Finance Minister: Cabinet Co-Spokesman

– ft.lk/front-page/President-is-Acting-Finance-Minister-Cabinet-Co-Spokesman/44-735275

• PM is Finance Minister

– ft.lk/news/PM-is-Finance-Minister/56-735301

– economynext.com/sri-lanka-pm-ranil-wickremesinghe-sworn-in-as-new-finance-minister-94693/

http://bizenglish.adaderana.lk/sri-lankas-prime-minister-takes-on-crucial-finance-ministry-portfolio/

– timesonline.lk/news-online/PM-takes-oaths-as-Finance-Minister/2-1137640

• PM to lead talks with IMF

– dailymirror.lk/breaking_news/PM-to-lead-talks-with-IMF/108-237753

• Sri Lanka central bank looks for gym instructor to keep staff healthy amid economic crisis

– economynext.com/sri-lanka-central-bank-looks-for-gym-instructor-to-keep-staff-healthy-amid-economic-crisis-94737/

• Sri Lanka CB Governor doing extremely good job in dire times: Coomaraswamy

– economynext.com/sri-lanka-cb-governor-doing-extremely-good-job-in-dire-times-coomaraswamy-94738/

• No intention to return as Governor at CBSL: Ex-Governor Dr Coomaraswamy

– timesonline.lk/news-online/No-intention-to-return-as-Governor-at-CBSL-Ex-Governor-Dr-Coomaraswamy/2-1137651

• PM yet to meet CBSL Governor; no date fixed for meeting

– themorning.lk/pm-yet-to-meet-cbsl-governor-no-date-fixed-for-meeting/

• Lanka’s economic chaos and western propaganda – Editorial

– dailymirror.lk/opinion/Lankas-economic-chaos-and-western-propaganda-EDITORIAL/231-237662

• Could Indian states face an economic crisis like Sri Lanka’s?

‘some bureaucrats expressed concerns that populist schemes in states such as Punjab, Andhra Pradesh, and West Bengal may end up wrecking their economies as they did in Sri Lanka’

– qz.com/india/2154447/punjab-and-west-bengal-have-elements-of-sri-lanka-economic-crisis/

• Prime Minister trying to fast-track IMF talks – report

– island.lk/prime-minister-trying-to-fast-track-imf-talks-report/

• Nihal Fonseka back as Monetary Board member

‘the Monetary Board now consists of Central Bank Governor Dr. Nandalal Weerasinghe, Treasury Secretary Mahinda Siriwardana, Dr. Ranee Jayamaha, Sanjeewa Jayawardena PC and Nihal Fonseka (He was CEO of the DFCC Bank, Deputy CEO of HSBC Sri Lanka, Chairman of the Colombo Stock Exchange and the Association of Development Financing Institutions in Asia and Pacific, Manila and also as a director of Commercial Bank of Ceylon, and DFCC Vardhana Bank… a member of the 2009 Presidential Commission on Taxation and Member of the National Procurement Commission…’

– adaderana.lk/news/82712/new-member-appointed-to-central-banks-monetary-board

– dailymirror.lk/business-news/Nihal-Fonseka-back-as-Monetary-Board-member/273-237897

– dailymirror.lk/breaking_news/Anthony-Nihal-Fonseka-to-be-appointed-as-CBSL-Monetary-Board-member/108-237858

• Sri Lanka to see worst economic contraction in history in 2022: CB Governor

– economynext.com/sri-lanka-to-see-worst-economic-contraction-in-history-in-2022-cb-governor-94591/

• PM Ranil wants IMF program in place by mid-June

– lankaweb.com/news/items/2022/05/26/pm-ranil-wants-imf-program-in-place-by-mid-june/

• Sri Lanka’s Economy Measured in Endless Queues

– newsfirst.lk/2022/05/26/sri-lankas-economy-measured-in-endless-queues/

• What is money? Money is neutral and innocent – Kirthi Tennakone

– island.lk/what-is-money/

• China has 8 trillion overseas assets! The United States must be wary of flipping the table

– whatchinareads.com/article/?uid=c12742b0cb5611ecbe64d79999c4055a

• Chinese imports exceptionally low – just one of many signals pointing to a weak economy

‘Jim O’Neill, a former chairman of Goldman Sachs Asset Management and a former UK treasury minister, is a member of the Pan-European Commission on Health and Sustainable Developmen’

– sundaytimes.lk/220522/sunday-times-2/another-global-recession-483376.html

• Paradigm and Nervous Breakdown: Globalization Goes Into Reverse as Inflation/Scarcity Crisis Accelerates

– nakedcapitalism.com/2022/05/paradigm-and-nervous-breakdown-as-globalization-goes-into-reverse-in-combination-with-inflation-scarcity-crisis-accelerates.html

• Business leaders warn that the three-decade era of globalization is coming to an end

‘German central banker Joachim Nagel listed denuclearization as one of the “three Ds” that would “add to inflationary pressures” along with decarbonisation and demographics.’

– news7h.com/business-leaders-warn-that-the-three-decade-era-of-globalization-is-coming-to-an-end/

• The Role of the Currency Board in Bulgaria’s Stabilization – IMF

– lankaweb.com/news/items/2022/05/21/the-role-of-the-currency-board-in-bulgarias-stabilization/

• What is a currency board? – IMF

‘With a currency board in place, the central bank can no longer serve as a lender of last resort for banks in trouble.’

– lankaweb.com/news/items/2022/05/21/what-is-a-currency-board-2/

• Citigroup CEO certain that war in Ukraine and energy crisis will plunge Europe into recession

– markets.businessinsider.com/news/stocks/recession-outlook-ukraine-war-europe-energy-crisis-davos-citigroup-fraser-2022-5

• World Bank’s Malpass says NATO war in Ukraine may trigger global recession

– dailymirror.lk/business-news/World-Banks-Malpass-says-war-in-Ukraine-may-trigger-global-recession/273-237833

– themorning.lk/world-bank-head-warns-of-global-recession/

• World economy has ‘buffer’ against recession: IMF First Deputy Managing Director Gopinath

– ft.lk/business/World-economy-has-buffer-against-recession-says-IMF-s-Gopinath/34-735430

• Global economic outlook has ‘darkened’, business and Government leaders warn in Davos

– ft.lk/business/Global-economic-outlook-has-darkened-business-and-Government-leaders-warn-in-Davos/34-735431

____________________________________________

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.

• Sri Lanka defaults international bond payment

– sundaytimes.lk/220522/business-times/sri-lanka-defaults-international-bond-payment-483075.html

• Sri Lanka Stumbles Toward Its First Default on Foreign Debt

– newsfirst.lk/2022/05/16/sri-lanka-stumbles-toward-its-first-default-on-foreign-debt/

• ADB, AIIB, WB in joint action plan to help Sri Lanka

‘This includes access to essential items such as medicines, cash assistance, gas and fertiliser through the reallocation of resources from existing projects’

– ft.lk/front-page/ADB-AIIB-WB-in-joint-action-plan-to-help-Sri-Lanka/44-735190

• Debt restructuring teams likely to receive Cabinet nod this week

‘Sri Lanka is looking at US$ 3.0 to 4.0 billion worth rescue package in the 3 years during which time the country will have to fix its balance of payment, fiscal deficit through raising taxes and cutting down on wasteful expenditure and subsidies, restructure or sell off loss making state-owned enterprises and ensure price stability through responsible monetary policy.’

– dailymirror.lk/business-news/Debt-restructuring-teams-likely-to-receive-Cabinet-nod-this-week/273-237510

• Exporter dollar conversion and surrender rules bring in US$ 300mn monthly: CB

‘Merchandise and services exporters in Sri Lanka are mandatorily required to repatriate all their export proceeds within 180 days of the date of shipment or provisioning of service, and are mandated to convert their residual proceeds after meeting several payments required to be made from foreign currency on or before the 7th day of the following month. Banks are then required to sell down 25 percent of such foreign currency collected to the Central Bank, a requirement which was relaxed from 50 percent in effect till mid-April.’

– dailymirror.lk/business-news/Exporter-dollar-conversion-and-surrender-rules-bring-in-US-300mn-monthly-CB/273-237514

• CB restricts public foreign currency holdings

– sundaytimes.lk/220522/business-times/cb-restricts-public-foreign-currency-holdings-483082.html

• Central Bank imposes 100% cash margins on select imports

– ft.lk/front-page/CB-imposes-100-cash-margins-on-select-imports/44-735194

• National inflation hits record high of 34% in April

– dailymirror.lk/business-news/National-inflation-hits-record-high-of-34-in-April/273-237601

– ft.lk/front-page/Inflation-soars-to-33-8-in-March-food-inflation-rockets-to-45/44-735229

– island.lk/inflation-continues-to-gallop/

– lankaweb.com/news/items/2022/05/23/inflation-in-crisis-hit-sri-lanka-hits-new-record/

• SL rupee shortage alongside dollar crisis

– sundaytimes.lk/220522/business-times/sl-rupee-shortage-alongside-dollar-crisis-483117.html

• New budget to replace 2022 current budget

– sundaytimes.lk/220522/business-times/new-budget-to-replace-2022-current-budget-483114.html

• Sri Lanka’s Prime Minister Says He Will Slash Expenditure in New Budget

“We have no rupee revenue, and now we have to print another (one) trillion rupees”

– lankaweb.com/news/items/2022/05/24/exclusive-sri-lankas-prime-minister-says-he-will-slash-expenditure-in-new-budget/

• PM meets private sector on economy, upcoming relief Budget

‘met with representatives from the Chambers of Commerce along with Treasury and Economic Advisers… an economic policy framework that enshrines economic rights would be included in the Constitution.

– ft.lk/front-page/PM-meets-private-sector-on-economy-upcoming-relief-Budget/44-735232

• CB relaxes capital rules to shield banks from economic fallout

– dailymirror.lk/business-news/CB-relaxes-capital-rules-to-shield-banks-from-economic-fallout/273-237669

• SL commercial banks given more time to meet minimum capital requirements

– timesonline.lk/business/SL-commercial-banks-given-more-time-to-meet-minimum-capital-requirements/10-1137648

– themorning.lk/deadline-for-minimum-capital-requirement-of-banks-extended-by-one-year/

• Rs. 104 billion printed in two weeks

– themorning.lk/rs-104-billion-printed-in-two-weeks/

• CBSL Chief: Economy stabilised in year if IMF debt restructuring finalised within 8 months

– island.lk/cbsl-chief-economy-could-be-stabilised-in-year-or-so-if/

• CBSL implements extraordinary measures to support banking sector

– island.lk/cbsl-implements-extraordinary-measures-to-support-banking-sector/

• Sri Lanka has tightened monetary policy sufficiently: CB Governor

‘Governor Weerasinghe told a forum organized by the Press Club of the Sri Lanka Press Institute.’

– economynext.com/sri-lanka-has-tightened-monetary-policy-sufficiently-cb-governor-94605/

• Sri Lanka President assures independence to central bank

– economynext.com/sri-lanka-president-assures-independence-to-central-bank-94865/

• Sri Lanka in talks with India for US$1bn swap, expects US$1.5n from ACU

– economynext.com/sri-lanka-in-talks-with-india-for-us1bn-swap-expects-us1-5n-from-acu-94798/

• Are trillions printed to give relief to rich? Sajith questions

– newsfirst.lk/2022/05/27/are-trillions-printed-to-give-relief-to-rich-sajith-questions/

• Sri Lanka bill yields ease down

– economynext.com/sri-lanka-bill-yields-ease-down-94735/

• T-bill yields ease after CB vowed to intervene to stabilise rates

– dailymirror.lk/business-news/T-bill-yields-ease-after-CB-vowed-to-intervene-to-stabilise-rates/273-237738

• Fitch Ratings downgrades Sri Lanka to ‘Restricted Default’ from ‘C’

– dailymirror.lk/breaking_news/Fitch-Ratings-downgrades-Sri-Lanka-to-Restricted-Default-from-C/108-237451

• S&P downgrades two Sri Lanka sovereign bonds to ‘D’

– economynext.com/sp-downgrades-two-sri-lanka-sovereign-bonds-to-d-94828/

• India considering spending additional US$26 bn to fight inflation

– dailymirror.lk/business-news/India-considering-spending-additional-US-26-bn-to-fight-inflation/273-237509

_________________________________________________________________________

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

• 19.5% bus fare hike from tonight

– dailymirror.lk/latest_news/19-5-bus-fare-hike-from-tonight/342-237631

– dailymirror.lk/latest_news/Bus-fare-to-go-up-after-12-00-noon-LPBOA/342-237616

• Three-Wheelers hike fares; 1st km Rs.100, 2nd km Rs.80

– dailymirror.lk/latest_news/Three-Wheelers-hike-fares-1st-km-Rs-100-2nd-km-Rs-80/342-237618

• Trade unionist alleges long queues due to restrictions on releasing of fuel

‘government should without further delay take the public into confidence and tell them about IMF conditions.’

– island.lk/trade-unionist-alleges-long-queues-due-to-restrictions-on-releasing-of-fuel/

• SJB MP warns of probable fishermen’s protest soon

“Some 63,000 multi-day fishing crafts run with diesel and 9,000 single-day crafts have stopped fishing activities since the fuel price hike. In addition the small boats which are run by kerosene have also stopped fishing from yesterday,”

– dailymirror.lk/breaking_news/SJB-MP-warns-of-probable-fishermens-protest-soon/108-237914′

• Coming two months will be tough – Health Minister tells unionists

‘Unionist Ravi Kumudesh said that the ministry had been purchasing reagents at a higher cost although cheaper much better quality alternatives were available.’

– island.lk/coming-two-months-will-be-tough-health-minister-tells-unionists/

• If health workers’ pay cut not revoked, GMOA will resort to TU action

– dailymirror.lk/breaking_news/If-health-workers-pay-cut-not-revoked-GMOA-will-resort-to-TU-action/108-237853

• Protest outside Govt. Printers’ Office

– timesonline.lk/news-online/In-Pictures-Protest-outside-Govt-Printers-Office/2-1137667

• 4.5mn employees from 4,500 SMEs to lose jobs in months ahead: Sri Lanka United National Businesses Alliance (SLUNBA)

Vehicle Importers Association of Sri Lanka (VIASL) President Indika Sampath Merinchige told the media that if the government fail come out with any solution within next two or three months, all SMEs will be forced to hold back from paying the bank loan instalments. He said the governor had admitted that there was a risk of closing down local industries and that 30% of the local garment factories have decided to shift to foreign countries by yesterday.’

– dailymirror.lk/latest_news/4-5mn-employees-from-4-500-SMEs-to-lose-jobs-in-months-ahead-SLUNBA/342-237714

– island.lk/plea-for-debt-moratorium-to-rescue-drowning-smes-and-saving-millions-of-jobs/

• Appalled by enhancement of salaries of state employees

– island.lk/some-suggestions-to-assist-sri-lanka-in-achieving-a-primary-balance/

• Pay hikes must not be politically determined amidst an economic crisis – Island Editorial

– island.lk/political-compulsions-vs-rationality/

• Those who use sailboats to take tourists

– sundaytimes.lk/220522/news/boats-stay-on-land-livelihoods-dry-up-483502.html

• Infant dead due to fuel shortages: Sri Lanka cricket star demands president’s resignation

– economynext.com/infant-dead-due-to-fuel-shortages-sri-lanka-cricket-star-demands-presidents-resignation-94562/

• From Belgrade to Ceylon: When Sri Lanka had Workers Councils

‘In 1951 the Lanka Sama Samaja Party, through its election manifesto, called for “the establishment of workers’ control in all industrial establishments and workplaces.”’

– island.lk/from-belgrade-to-ceylon-when-sri-lanka-had-workers-councils/

• D. S. Senanayake and Indian Tamil question

– island.lk/d-s-senanayake-and-indian-tamil-question/

• Remittance earnings plummet 52% in April as greed dominates

‘A complete crackdown on informal channels, potentially via the recent open accounts ban could deal a blow to collectors of foreign currency as they will be left without demand to sell their foreign currency in the absence of importer demand as all importer payments, except in the cases of exporters must happen through letters of credit. The Central Bank, together with the Treasury is currently drafting laws to nab those who hoard foreign exchange in currency form without bringing them to banks.’

– dailymirror.lk/business-news/Remittance-earnings-plummet-52-in-April-as-greed-dominates/273-237515

– ft.lk/front-page/Workers-remittances-dip-via-banking-channels-in-April-despite-rupee-s-free-float/44-735188

• Central Bank says providing tax-related incentives to migrant workers pervasive

– dailymirror.lk/business-news/Central-Bank-says-providing-tax-related-incentives-to-migrant-workers-pervasive/273-237596

• Many people want to go overseas for jobs, long-stays

‘Some 13,000 people have applied for visas through a particular western mission this month and many were rejected, sources at this mission said.’

– sundaytimes.lk/220522/business-times/many-people-want-to-go-overseas-for-jobs-long-stays-483111.html

• Labour and Foreign Employment Minister on mission to lure $500m from migrant workers

– ft.lk/business/Manusha-on-mission-to-lure-500-m-from-migrant-workers/34-735224

• Lankan refugees detained by England on Chagos Islands go on hunger strike

– timesonline.lk/news-online/Lankan-refugees-detained-by-UK-on-Chagos-Islands-go-on-hunger-strike/2-1137627

• Navy apprehends 45 people over illegal migration attempt

– adaderana.lk/news/82720/navy-apprehends-45-people-over-illegal-migration-attempt

• SL Family in Australia sheds ‘happy tears’ as Labor win paves path home to Biloela

– dailymirror.lk/breaking_news/SL-family-in-Australia-sheds-happy-tears-as-Labor-win-paves-path-home-to-Biloela/108-237474

– dailymirror.lk/breaking_news/Australian-election-Anthony-Albanese-humbled-to-be-next-PM-as-voters-abandon-Coalition/108-237472

– dailymirror.lk/breaking_news/New-Australian-government-releases-Sri-Lankan-family-from-immigration-detention/108-237856

• Commence Languages, Vocational Training Programmes targeting foreign job vacancies: Prez

– dailymirror.lk/latest_news/Commence-Languages-Vocational-Training-Programmes-targeting-foreign-job-vacancies-Prez/342-237716

• Private tutoring amidst Sri Lanka’s economic crisis: Issues faced by students

– timesonline.lk/news-online/FEATURE-Private-tutoring-amidst-Sri-Lankas-economic-crisis-Issues-faced-by-students/2-1137619

• The lives of teachers are regulated

‘recall parents’ names, pinpoint identities of regular troublemakers, sift through a great deal of pupil irregularities which have not been documented but remain in my memory.’

– island.lk/aftermath/

• Spouse living in adultery disentitled to maintenance: Supreme Court

– dailymirror.lk/latest_news/Spouse-living-in-adultery-disentitled-to-maintenance-SC/342-237626

• Remembering Bala Tampoe on his birth centenary

– ft.lk/columns/Remembering-Bala-Tampoe-on-his-birth-centenary/4-735246

• German Employers, Unions Oppose Immediate Ban On Russian Natural Gas

– rferl.org/a/germany-russia-natural-gas/31809811.html

•The Gig Economy’s Corporate Crime Problem

– lefteast.org/gig-economy-corporate-crime-problem/

• Governments harm children’s rights in online learning – US HRW

‘Most online learning platforms examined installed tracking technologies that trailed children outside of their virtual classrooms and across the internet, over time.’

– island.lk/governments-harm-childrens-rights-in-online-learning-hrw/

• The return of the mighty mini

“‘Sexy’, skin-baring items like the miniskirt have found new context in a time where we can celebrate femininity and sexuality, in line with ‘fourth-wave’ feminism, and with the goal of simply dressing up for ourselves.”

– island.lk/the-return-of-the-mighty-mini/

_________________________________________________________________________

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.

• PM discusses pending food shortage with Agri sector

– themorning.lk/pm-discusses-pending-food-shortage-with-agri-sector/

• Fertilizer importer CIC Holdings revenues of Rs.11.8 billion for January-March quarter

‘CIC, being a major importer of fertiliser, faced some setbacks last year when the government banned chemical fertiliser imports before the policy was reversed in November…The Employees’ Provident Fund has a 9.06 percent stake in the company’s voting shares, being its second largest shareholder and it has another 12.7 percent stake in non-voting shares, leading the shareholder list.’

– dailymirror.lk/business-news/CIC-delivers-robust-4Q-but-fertiliser-biz-hit-by-botched-organic-pivot/273-237735

• Are the private sector chambers of commerce sleeping?

– ft.lk/columns/Are-the-private-sector-chambers-of-commerce-sleeping/4-735385

• Importers to put essential food imports on hold

‘severe essential food crisis following the imminent decline in the importation of commodities like rice, sugar, dhal, chickpeas, coriander and other lentils etc as a result of the ban on imports via open account payment terms’

– sundaytimes.lk/220522/business-times/importers-to-put-essential-food-imports-on-hold-483061.html

• Sri Lanka food importers seek exemption from open account trade ban

– economynext.com/sri-lanka-food-importers-seek-exemption-from-open-account-trade-ban-94545/

• ‘$120 mn promised for essential imports’

– themorning.lk/120-mn-promised-for-essential-imports/

• Govt. seeks foreign help for fertiliser imports

‘importers had raised concerns regarding the late fertiliser subsidy payments from the government and insisted that the authorities need to make the payments to them. The private sector had informed the government that they will not be able to bring down any fertiliser until this is settled.’

– sundaytimes.lk/220522/business-times/govt-seeks-foreign-help-for-fertiliser-imports-483108.html

• First no fertiliser, now no fuel: Vegetable traders lament

– sundaytimes.lk/220522/news/first-no-fertiliser-now-no-fuel-vegetable-traders-lament-483533.html

• Ban on agrochemicals and fertilisers: Post-scenario analysis

– island.lk/ban-on-agrochemicals-and-fertilisers-post-scenario-analysis/

• How the world’s first all-organic farming nation has led to hunger, riots and economic ruin in Sri Lanka… The consequences have been nothing short of catastrophic – London Daily Mail

– lankaweb.com/news/items/2022/05/24/how-the-worlds-first-all-organic-farming-nation-has-led-to-hunger-riots-and-economic-ruin-in-sri-lanka-the-consequences-have-been-nothing-short-of-catastrophic-writes-tom-leonard/

• Fuel price hike make canteens, bakeries to halt: Assn.

– dailymirror.lk/latest_news/Fuel-price-hike-make-canteens-bakeries-to-halt-Assn/342-237636

• Food and Agriculture Organization (FAO) assures PM Ranil to overcome food shortages

– island.lk/fao-helps-lanka-overcome-food-shortages/

• Govt. seeks FAO and WFP assistance to overcome possible food shortage

– island.lk/govt-seeks-fao-and-wfp-assistance-to-overcome-possible-food-shortage/

– lankaweb.com/news/items/2022/05/26/foreign-minister-discusses-sri-lankas-food-security-challenges-with-fao-wfp-reps/

• Food crisis in Sri Lanka From Granary of East to barren nation

– dailymirror.lk/news-features/Food-crisis-in-Sri-Lanka-From-granary-of-East-to-barren-nation/131-237604

• Ways to meet the impending food crisis in Sri Lanka – Balachandran

– dailymirror.lk/opinion/Ways-to-meet-the-impending-food-crisis-in-Sri-Lanka/231-237660

– lankaweb.com/news/items/2022/05/25/ways-to-meet-the-impending-food-crisis-in-sri-lanka-analysis/

• Shocking inside stories of the sugar scam

‘Director General Customs, Controller General of the Department of Import and Export Control and Chairman Lanka Sathosa are totally responsible for not discharging their duties’

– dailymirror.lk/opinion/Shocking-inside-stories-of-the-sugar-scam/172-237659

• Rubber prices reach record high at auction this week

– dailymirror.lk/business-news/Rubber-prices-reach-record-high-at-auction-this-week/273-237734

• Sri Lanka tea traders call for swift action on crisis, expert consultation

‘putting Sri Lanka back on the world map, not only as being the home of Ceylon Tea but as a paradisiacal haven for tourists and locals alike.’

– economynext.com/sri-lanka-tea-traders-call-for-swift-action-on-crisis-expert-consultation-94577/

– dailymirror.lk/business-news/Do-not-make-the-mistake-of-not-listening-to-experts-tea-industry-tells-govt/273-237594

• Colombo Tea Auction sees 6.4 MnKgs offering under hammer this week

– dailymirror.lk/business-news/Colombo-Tea-Auction-sees-6-4-MnKgs-offering-under-hammer-this-week/273-237895

• New Anthoney’s Farms animal welfare standards in line with National Chicken Council, US

– sundaytimes.lk/220522/business-times/new-anthoneys-farms-reaffirms-poultry-supply-amidst-economic-challenges-483078.html

• MONLAR blows whistle on another land grab in wetland sanctuary

– island.lk/monlar-blows-whistle-on-another-land-grab-in-wetland-sanctuary/

• Mega tourism project on Uchchamunai Island: Ecosystems on the chopping block

– sundaytimes.lk/220522/news/mega-tourism-project-on-uchchamunai-island-ecosystems-on-the-chopping-block-483413.html

• Study on bird translocation sheds more light on forest-dwelling birds

– sundaytimes.lk/220522/news/study-on-bird-translocation-sheds-more-light-on-forest-dwelling-birds-483547.html

• India’s Protectionist Moves Spark Concern That Rice May Be Next

– newsfirst.lk/2022/05/26/indias-protectionist-moves-spark-concern-that-rice-may-be-next/

• African leaders say their people don’t have enough food to survive

– radiohc.cu/en/noticias/internacionales/289105-african-leaders-say-their-people-dont-have-enough-food-to-survive

• Grains of deceit

– thesaker.is/grains-of-deceit/

• US Unilateral Sanctions Against Russia Will Produce a Global Food Disaster

– newsclick.in/US-unilateral-sanctions-russia-produce-global-food-disaster

• Yellen tells G7 meeting there is a ‘very real risk’ that more people will go hungry

– ft.com/content/c9e42dde-5375-47ed-af8e-10bee33101a4

• US, banks unveil plan to address global food crisis

– aljazeera.com/economy/2022/5/18/us-banks-unveil-plan-to-address-global-food-crisis

• Collective Farms, National Bourgeoisies, and Religious Representation (1949)

– redsails.org/stalin-and-hoxha/

_____________________________________________________________________

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.

• Unions predict end of energy sovereignty

– island.lk/unions-predict-end-of-energy-sovereignty/

• Govt. nod for private sector fuel import

– ft.lk/front-page/Govt-nod-for-private-sector-fuelimport/44-735445

• Manufacturing Success: An Industrial Path to Prosperity

‘The root of Sri Lanka’s economic distress has long been evident: our dependency on US Greenbacks; an incurable addiction to the Dollar.’

– dailymirror.lk/news-features/Manufacturing-Success-An-Industrial-Path-to-Prosperity/131-237062

• Exporters use forex earnings to source non-related luxury imports at hefty exchange rate

– ft.lk/top-story/Govt-to-clamp-down-on-unethical-exporters/26-735195

• LC cash margin requirement slapped on 779 imported goods

– dailymirror.lk/business-news/LC-cash-margin-requirement-slapped-on-779-imported-goods/273-237736

• Industrial production down sharply in March stoking recession fears

– dailymirror.lk/business-news/Industrial-production-down-sharply-in-March-stoking-recession-fears/273-237511

• April ends 10-month $1b export streak

– ft.lk/front-page/April-ends-10-month-1-b-export-streak/44-735235

• DIMO renews buyback agreement with Sarvodaya Development Finance

‘a further 2-year extended warranty for Mahindra and Swaraj tractors. Combined Harvesters will enjoy a comprehensive 1-year warranty period.’

– dailymirror.lk/other/DIMO-renews-buyback-agreement-with-Sarvodaya-Development-Finance/117-237587

• Filling station owner’s house set ablaze for not issuing fuel

– dailymirror.lk/top_story/Filling-station-owners-house-set-ablaze-for-not-issuing-fuel/155-237479

• Private fuel bowser owners want police security to transport fuel

– dailymirror.lk/breaking_news/Private-fuel-bowser-owners-want-police-security-to-transport-fuel/108-237486

• India supplies another 40,000 metric tonnes of diesel to Sri Lanka

– dailymirror.lk/breaking_news/India-supplies-another-40-000-metric-tonnes-of-diesel-to-Sri-Lanka/108-237473

• US$ 6.5 mn paid for two LP gas shipments

– dailymirror.lk/latest_news/US-6-5-mn-paid-for-two-gas-shipments/342-237562

• $7 m will be paid for two gas ships on Monday: Litro Chairman

– ft.lk/news/7-m-will-be-paid-for-two-gas-ships-on-Monday-Litro-Chairman/56-735182

• Sri Lankans advised not to purchase fuel from third parties

– economynext.com/sri-lankans-advised-not-to-purchase-fuel-from-third-parties-94548/

• CPC announces fuel price hike

– dailymirror.lk/top_story/CPC-announces-fuel-price-hike/155-237612

• Hoarders and corrupt shed owners blamed for long fuel queues

– sundaytimes.lk/220522/news/fuel-queues-get-longer-in-spite-of-increase-in-distribution-483538.html

• One billion credit line sought from India and China to buy fuel till December

– sundaytimes.lk/220522/news/one-billion-credit-line-sought-from-india-and-china-to-buy-fuel-till-december-483620.html

• LIOC increases fuel prices

– dailymirror.lk/latest_news/LIOC-increases-fuel-prices/342-237615

• Government unsure of fresh procurement once stocks depleted: SJB Union leader

– island.lk/trade-unionist-alleges-long-queues-due-to-restrictions-on-releasing-of-fuel/

• The Cabinet will revise fuel prices on a monthly basis

– island.lk/failures-as-pillars/

• Kerosene subsidy may be abolished soon

– island.lk/kerosene-subsidy-may-be-abolished-soon/

• Pricing formula sends fuel prices through the roof

– island.lk/pricing-formula-sends-fuel-prices-through-the-roof/

• 2 main fuel distributors Ceylon Petroleum Corporation (CPC) and Lanka Indian Oil Corporation (LIOC) increase prices

– island.lk/revised-petrol-diesel-prices/

• Midnight fuel price hike negatively impacts share market

– island.lk/mid-night-fuel-price-hike-negatively-impacts-share-market/

• Govt. fuels people’s suffering with fresh hike

– ft.lk/top-story/Govt-fuels-people-s-suffering-with-fresh-hike/26-735273

• Mini hydro power generators protest

– ft.lk/news/Mini-hydro-power-generators-protest/56-735287

– dailymirror.lk/business-news/Non-payment-of-dues-by-CEB-puts-renewable-energy-sector-at-risk-Stakeholders/273-237892

• Amid long fuel queues, over 100 arrested in Sri Lanka for hoarding

– economynext.com/amid-long-fuel-queues-over-100-arrested-in-sri-lanka-for-hoarding-94739/

• Fuel stations demanding bribes from private buses

– themorning.lk/fuel-stations-demanding-bribes-from-private-buses/

• Tills placed at filling stations to cover rupee loss from petrol

– newsfirst.lk/2022/05/25/tills-placed-at-filling-stations-to-cover-rupee-loss-from-petrol/

• ‘Sri Lanka receives 67 proposals for fuel supply’

– island.lk/sri-lanka-receives-67-proposals-for-fuel-supply/

• HRCSL instructs top energy sector officials to resolve crisis

– ft.lk/news/HRCSL-instructs-top-energy-sector-officials-to-resolve-crisis/56-735428

• Sri Lanka targeted by high priced renewables amid economic crisis

– economynext.com/sri-lanka-targeted-by-high-priced-renewables-amid-economic-crisis-94846/

• Sri Lanka private bunker firms cleared to import industrial fuel: Minister

– economynext.com/sri-lanka-bunker-firms-cleared-to-import-industrial-fuel-minister-94833/

• Sri Lanka allows private operators to import fuel for industries – minister

– economynext.com/sri-lanka-allows-private-operators-to-import-fuel-for-industries-minister-94815/

• Sri Lanka’s solo refinery to resume operation after 2-month closure – minister

– economynext.com/sri-lankas-solo-refinery-to-resume-operation-after-2-month-closure-minister-94790/

• Sapugaskanda back online; Russian Crude en-route

– newsfirst.lk/2022/05/27/sapugaskanda-back-online-russian-crude-en-route/

• Siberian crude oil imported for Sapugaskanda; acquisition done in LKR-USD

– newsfirst.lk/2022/05/28/siberian-crude-oil-imported-for-sapugaskanda-acquisition-done-in-lkr-usd/

• Prez calls for support of experts in power sector

– themorning.lk/prez-calls-for-support-of-experts-in-power-sector/

• Filling station mishap switches diesel-petrol

– newsfirst.lk/2022/05/27/filling-station-mishap-switches-diesel-petrol/

• Two illegal fuel resellers nabbed

– newsfirst.lk/2022/05/28/two-illegal-fuel-resellers-nabbed/

• Over 100 percent power tariff hike soon

‘The operations have come for a standstill. Lanka Transformers, and Kelani Cables aren’t providing cables due to shortage of aluminium and copper in the local market,” he said.’

– island.lk/over-100-percent-power-tariff-hike-soon/

• Electricity Act amendments to remove bidding restrictions

– sundaytimes.lk/220522/news/electricity-act-amendments-to-remove-bidding-restrictions-483630.html

• Mobile app and 24-hour hotline for gas distribution to be made available soon

– sundaytimes.lk/220522/news/mobile-app-and-24-hour-hotline-for-gas-distribution-to-be-made-available-soon-483589.html

• Power crisis: Policy overdose, institutional hegemony and lotus-eaters

– dailymirror.lk/businessopinion/Power-crisis-Policy-overdose-institutional-hegemony-and-lotus-eaters/306-237663

• Bio Energy Association of Sri Lanka promotes fuel wood as a source of energy,

– island.lk/gas-prices-sky-rocket-the-plight-of-the-housewife/

• Container transporters vital for exports

‘The BOI export zones usually require about 700 carriers for which approximately 150,000 litres are required per day for export and import carriers. At the moment they want at least 100, 000 litres. About 800-1200 would generally ply between the port and city but now the situation has forced about 100-200 remaining in operation, he explained.’

– sundaytimes.lk/220522/business-times/container-transporters-vital-for-exports-483050.html

• Container freight rates up by 35%: Assn.

– dailymirror.lk/latest_news/Container-freight-rates-up-by-35-Assn/342-237647

• Colombo Port terminal operators reassure global customers

– ft.lk/front-page/Colombo-Port-terminal-operators-reassure-global-customers/44-735280

• Innovative food delivery on electric bikes

– sundaytimes.lk/220522/business-times/innovative-food-delivery-on-electric-bikes-483120.html

• Debt moratorium by govt affects SriLankan Airlines’ government-guaranteed bonds

– island.lk/debt-moratorium-announced-by-govt-affects-srilankan-airlines-government-guaranteed-bonds/

• US Advocata welcomes PM’s call to privatise SriLankan

– dailymirror.lk/business-news/Advocata-welcomes-PMs-call-to-privatise-SriLankan/273-237598

– ft.lk/front-page/Advocata-backs-privatisation-of-SriLankan-Airlines/44-735439

• Sri Lanka drug suppliers say hit by arrears, regulatory morass, forex shortages

– economynext.com/sri-lanka-drug-suppliers-say-hit-by-arrears-regulatory-morass-forex-shortages-94860/

• Sri Lankan medicine shortage a death sentence for some

– lankaweb.com/news/items/2022/05/24/sri-lankan-medicine-shortage-a-death-sentence-for-some/

• Morison kicks off commercial production at new pharma manufacturing facility

‘The facility is the first general oral solid and liquid dosage manufacturing plant in Sri Lanka, built as per the European Union-Good Manufacturing Practice (EU-GMP) specifications and Quality Management Systems.’

– dailymirror.lk/business-news/Morison-kicks-off-commercial-production-at-new-pharma-manufacturing-facility/273-237894

• Drugs worth more than Rs. 6 Bn face quality issues due to improper storage: COPA

– dailymirror.lk/latest_news/Drugs-worth-more-than-Rs-6-Bn-face-quality-issues-due-to-improper-storage-COPA/342-237639

– island.lk/more-than-6-bn-worth-of-substandard-drugs-dispensed-to-patients/

• Sri Lanka gifted medicines by France after soft-peg collapse

– economynext.com/sri-lanka-gifted-medicines-by-france-after-soft-peg-collapse-94857/

• COPA says standards must be introduced for Liquor products

– newsfirst.lk/2022/05/27/copa-says-standards-must-be-introduced-for-liquor-products/

• JAAF confident Apparel business resilience will realise $ 6 b target of 2022

– ft.lk/front-page/JAAF-confident-industry-resilience-will-realise-6-b-target-of-2022/44-735348

• Plastic Recycler BPPL gets $15mn long-term loan from US International Development Finance Corporation (DFC)

– dailymirror.lk/business-news/BPPL-secures-US-15mn-long-term-funding-from-DFC/273-237672

– ft.lk/front-page/BPPL-secures-15-m-of-long-term-funding-from-US-International-Development-Finance-Corporation/44-735279

– economynext.com/sri-lanka-plastic-recycler-gets-funding-from-usa-94752/

• STF Corporate Advisory secures IDFC loan for BPPL Holdings

http://bizenglish.adaderana.lk/us-15-million-dollar-loan-from-united-states-government/

• How the War in Ukraine is Accelerating India’s Desire for Tech Autonomy

‘For protectionist voices in India, the wide-ranging sanctions against Russia appear as a confirmation of long-held apprehensions that the United States and its allies will weaponize the global trade system if it suits their interests’

– thediplomat.com/2022/05/how-the-war-in-ukraine-is-accelerating-indias-desire-for-tech-autonomy/

• Where does “Made in China” come from? where to go?

– whatchinareads.com/article/?uid=5513373ad96d11ecbf0ed79999c4055a

• China’s industrial profit slides in April amid COVID-19 flare-ups; positive factors point to recovery

– globaltimes.cn/page/202205/1266705.shtml

• How Billionaires Gained from COVID

‘Oxfam’s latest report on COVID-induced inequality, called ‘Profiting from Pain’, says that during the two years of COVID, one billionaire was created every 30 hours.’

– newsclick.in/how-billionaires-gained-covid

• US Shale Is Holding Back While World Clamors for More Oil

– bloomberg.com/news/articles/2022-05-25/world-s-oil-growth-engine-is-about-to-slow-despite-100-crude

• US military plane flies 78,000 pounds of infant formula to US

‘The White House has said 132 pallets of Nestle Health Science Alfamino Infant and Alfamino Junior formula was to leave Ramstein Air Base in Germany for the US…Under “Operation Fly Formula,” the Department of Agriculture and the Department of Health and Human Services are authorized to request Department of Defense support to pick up overseas infant formula that meets US health and safety standards, so it can get to store shelves faster, according to the USDA.’

– nypost.com/2022/05/22/78000-pounds-of-infant-formula-arrives-in-us/

• Shell has just announced a record 7 billion pounds in profit for Q1 this year

– radiohc.cu/en/noticias/internacionales/288992-climate-activists-disrupt-shell-shareholder-meeting

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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.

• Sri Lanka stocks edge down on tax hike worries after PM appointed as new finmin

– economynext.com/sri-lanka-stocks-edge-down-on-tax-hike-worries-after-pm-appointed-as-new-finmin-94740/

• Sri Lanka stocks marginally up in mid-day trade

– economynext.com/sri-lanka-stocks-marginally-up-in-mid-day-trade-94697/

• Tax hike fears dampen share trading

– island.lk/tax-hike-fears-dampen-share-trading/

• Sri Lanka stocks up in mid-day trade

– economynext.com/sri-lanka-stocks-up-in-mid-day-trade-94813/

• Sri Lanka stocks down for 3rd straight session amid tax hike worries

– economynext.com/sri-lanka-stocks-down-for-3rd-straight-session-amid-tax-hike-worries-94788/

• Sri Lanka stocks edge down on tax hike worries after PM appointed as new finmin

– economynext.com/sri-lanka-stocks-edge-down-on-tax-hike-worries-after-pm-appointed-as-new-finmin-94740/

• CSE moves up in the wake of positive quarterly corporate results

– island.lk/cse-moves-up-in-the-wake-of-positive-quarterly-corporate-results/

• Ex-IGP appointed Chairman of Sanasa Life Insurance

‘T. Senthilverl holds 19% stake in the company and Sanasa Federation owns 10.5% stake and Sanasa Development Bank holds 7.3% …. Other board members are J.M.U.K. Jayasinghe, T. Senthilverl, K.K. Weerakkody, J.V. Nanda Kumara, D.S. Kiriwandeniya, P. Gajendra, A.B.S. Nishantha, W.P.P. Wijayalath and K.M. Karunathunga.’

– ft.lk/front-page/Ex-IGP-appointed-Chairman-of-Sanasa-Life-Insurance/44-735443’

• Pan Asia Bank appoints Naleen Edirisinghe as COO

‘He started in 1987 with Commercial Bank of Ceylon and then Joined National Development Bank in 1998…He is at present the Chairman of the Banking Sub Committee of the National Chamber of Commerce of Sri Lanka and is also a Member of the Academic Council of the Institute of Bankers’

– island.lk/pan-asia-bank-appoints-naleen-edirisinghe-as-coo/

• DFCC rights issue successful despite undersubscription

‘Hatton national Bank as the single largest shareholder of DFCC, Bank of Ceylon as the second largest shareholder, and M.M. Yaseen as the third largest shareholder…’

– dailymirror.lk/business-news/DFCC-rights-issue-successful-despite-undersubscription/273-237512

• Sri Lanka’s DFCC, USAID join hands to promote women entrepreneurship

– economynext.com/sri-lankas-dfcc-usaid-join-hands-to-promote-women-entrepreneurship-94769/

• ICRA Lanka upgrades Asia Asset Finance PLC credit rating

http://bizenglish.adaderana.lk/icra-lanka-limited-upgrades-asia-asset-finance-plc-credit-rating-to-an-impressive-sla-amidst-pandemic-conditions/

• Wall Street Is Buying Treasuries Again in Bet Worst Is Over

– ca.finance.yahoo.com/news/wall-street-buying-treasuries-again-100000692.html

• Wall Street Traders Are Being Ordered to Hand Over their Personal Phones for Examination by the Firm’s Lawyers: How Is This Legal?

– wallstreetonparade.com/2022/05/wall-street-traders-are-being-ordered-to-hand-over-their-personal-phones-for-examination-by-the-firms-lawyers-how-is-this-legal/

• JPMorgan Whistleblower Names Former U.K. Prime Minister Tony Blair in Court Documents as Receiving “Emergency” Payments from Bank

– wallstreetonparade.com/2022/05/jpmorgan-whistleblower-names-former-u-k-prime-minister-tony-blair-in-court-documents-as-receiving-emergency-payments-from-bank/

• New York Fed Stuns with New Report: At Year End Its Trading Desk Owned 38 Percent of All 10-30 Year U.S. Treasuries

– wallstreetonparade.com/2022/05/new-york-fed-stuns-with-new-report-at-year-end-its-trading-desk-owned-38-percent-of-all-10-30-year-u-s-treasuries/

• How Crypto Is Using the Behavioral Dynamics of Bernie Madoff’s Fraud

– wallstreetonparade.com/2022/05/how-crypto-is-using-the-behavioral-dynamics-of-bernie-madoffs-fraud/

• Stable Coin and Cryptocurrency Investors Are Not the Only Ones in Tears: Ten Crypto Mining Stocks Have Fallen by 50 to 80 Percent Year-to-Date

– wallstreetonparade.com/2022/05/stable-coin-and-cryptocurrency-investors-are-not-the-only-ones-in-tears-ten-crypto-mining-stocks-have-fallen-by-50-to-80-percent-year-to-date/

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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’

• Pettah Market Busy amid economic crisis in Colombo

– lankaweb.com/news/items/2022/05/22/in-pics-pettah-market-amid-economic-crisis-in-colombo/

• Supreme Court to evaluate investment agreement progress of Ceylinco F&G Companies’

– dailymirror.lk/business-news/SC-to-evaluate-investment-agreement-progress-of-Ceylinco-F-G-Companies/273-237893

• John Keells Holdings revenue Rs.76.1 billion in the January-March quarter

Asian Development Bank (ADB) has entered the top five shareholders of JKH, with a 4.7 percent stake, as the company issued 65 million shares to the multilateral lender in January as part of a two-phase private placement, where the former would infuse a rupee equivalent of US $ 80 million.’

– dailymirror.lk/business-news/JKH-reports-robust-4Q-performance-despite-economic-adversity/273-237600

– island.lk/jkh-recurring-ebitda-grows-152-to-rs-39-26-billion-for-2021-22/

• Prime Lands Residencies records a profit of LKR 1.68 billion in FY 2021/22

– island.lk/prime-lands-residencies-records-a-profit-of-lkr-1-68-billion-in-fy-2021-22/

• Sri Lanka Telecom recorded at least Rs. 4.1 billion in PAT for Q1 2022.

– sundaytimes.lk/220522/business-times/slt-group-shows-resilience-in-1q2022-despite-challenges-483068.html

• Hemas: political stability and economic reforms under IMF program critical for recovery

‘operating profit only grew by 16 percent YoY to Rs.153 billion in the quarter’

– dailymirror.lk/business-news/Hemas-expects-first-half-of-current-FY-to-be-extremely-challenging-for-corporates/273-237508

• Singer (Sri Lanka)”one of the most difficult quarters in their history

– dailymirror.lk/business-news/Singer-pulls-off-a-challenging-quarter-but-debt-pile-goes-up/273-237513

• ‘Sri Lanka Tourism has no shortage of cash…’ – Right of Reply

– sundaytimes.lk/220522/business-times/sri-lanka-tourism-running-out-of-cash-2-483064.html

• Kimarli Fernando resigns as Tourism Chief, slamming Harin

– dailymirror.lk/latest_news/Kimarli-Fernando-resigns-as-Tourism-Chief-slamming-Harin/342-237628

– dailymirror.lk/business-news/SL-Tourism-chief-steps-down-fires-strong-worded-letter-to-Minister-Harin/273-237671

– island.lk/kimarli-out/

• Sri Lanka Tourism Chief Resigns Under Pressure, Then Warns of Industry Cartel

– lankaweb.com/news/items/2022/05/26/sri-lanka-tourism-chief-resigns-under-pressure-then-warns-of-industry-cartel/

• Harin starts work with meeting industry veterans

‘New Tourism and Lands Minister Harin Fernando yesterday met SriLankan Airlines Chairman Ashok Pathirage, Udaya Nanayakkara, Hiran Cooray, The Hotels Association of Sri Lanka President M. Shanthikumar, Sri Lanka Association of Inbound Tour Operators Immediate Past President Maahen Kariyawasam and Vice Presidents Nishad Wijetunga and Nalin Jayasundera. Labour and Foreign Employment Minister Manusha Nanayakkara was also present’

– ft.lk/front-page/Harin-starts-work-with-meeting-industry-veterans/44-735233

• ‘Banking sector at risk of accumulating tourism related non-performing loans’

– island.lk/banking-sector-at-risk-of-accumulating-tourism-related-non-performing-loans/

• Sri Lanka Singer Finance downgraded, four on rating watch: Fitch

– economynext.com/sri-lanka-singer-finance-downgraded-four-on-rating-watch-fitch-94801/

• DIMO partners with Allianz to provide innovative insurance scheme to its TATA customers

– island.lk/dimo-partners-with-allianz-to-provide-innovative-insurance-scheme-to-its-tata-customers/

• CEAT official tyre supplier for locally assembled Tata Ace HT

‘CEAT Kelani Holdings is the official tyre supplier for Tata Ace HT series compact trucks assembled in Sri Lanka by DIMO in collaboration with India’s largest automobile manufacturer TATA Motors.’

– island.lk/ceat-official-tyre-supplier-for-locally-assembled-tata-ace-ht/

• Citibank joins Manudam Mehewara by Dialog, MAS, Hemas & CBL, Sarvodaya and PwC

– island.lk/citi-joins-manudam-mehewara-by-dialog-mas-hemas-cbl/

• Unilever VIVA supports over 500 families in Dambana in the time of need

‘Unilever Sri Lanka, Mindshare, Wings Brand Activations and Swarnawahini along with leading celebrities of Sri Lanka, with Veddha Chief – Uruwarige Wannila Aththo…’

– island.lk/unilever-viva-supports-over-500-families-in-the-time-of-need/

• ‘Korea Week 2022’ successfully held at Colombo City Centre

‘Madam Aban Pestonjee, Chairperson and Founder of Abans Group of Companies and Mr. Rusi Pestonjee Chairman of Colombo City Center and CCC’s continuous support to the Korean Embassy’

– island.lk/korea-week-2022-successfully-held-at-colombo-city-centre/

______________________________________________________

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.

Let’s defeat 21A and its elite politics – Nalin de Silva

– kalaya.org/2022/05/blog-post_25.html

• Debt & Distancing from Buddhism – Nalin de Silva

– kalaya.org/2022/05/blog-post_28.html

• Why 21a should not be passed – Ranil is only a caretaker PM: Waduge

– lankaweb.com/news/items/2022/05/23/why-21a-should-not-be-passed-ranil-is-only-a-caretaker-pm/

• Comparing the 19th amendment & 20th amendment to Sri Lanka’s Constitution: Waduge

– lankaweb.com/news/items/2022/05/23/markers-of-a-failing-state/

• Constitutional Amendments: What the Public must demand from the Government – Waduge

– lankaweb.com/news/items/2022/05/24/constitutional-amendments-what-the-public-must-demand-from-the-government/

• Parliament: 29 Member National List should not be given Ministerial Portfolios – Waduge

– lankaweb.com/news/items/2022/05/27/sri-lankas-parliament-29-member-national-list-should-not-be-given-ministerial-portfolios/

• 21a cannot pass powers to a Rejected National List Caretaker PM: Waduge

– lankaweb.com/news/items/2022/05/27/21a-cannot-pass-powers-to-a-rejected-national-list-caretaker-pm/

• Lankan cabinet discusses 21st Amendment to reduce President’s powers – Balachandran

– lankaweb.com/news/items/2022/05/23/lankan-cabinet-discusses-21-st-amendment-to-reduce-presidents-powers/

• Terrorism Disguised as Peaceful Protests

– lankaweb.com/news/items/2022/05/23/terrorism-disguised-as-peaceful-protests/

• Ceylon Chamber meets party leaders to discuss Sri Lanka crisis

‘Among the leaders met were Sajith Premadasa – Leader of the Opposition and SJB, Anura Kumara Dissanayake – Leader of the JVP, M. A. Sumanthiran – Leader of the TNA and Rauf Hakeem – Leader of the SLMC along with many other parliamentarians from these parties… The chamber was represented by Vish Govindasamy, Chairman; Duminda Hulangamuwa, Vice Chairman; Krishan Balendra, Deputy Vice Chairman, other board members and several past chairpersons and the CEO…’

– sundaytimes.lk/220522/business-times/ceylon-chamber-meets-party-leaders-to-discuss-sri-lanka-crisis-483071.html

• JVP says ruling party politicians had some of its regional leaders arrested

– island.lk/jvp-says-ruling-party-politicians-had-some-of-its-regional-leaders-arrested/

• Can rejected Ranil transfer powers of the Executive President to himself?

– lankaweb.com/news/items/2022/05/22/can-rejected-ranil-transfer-powers-of-the-executive-president-to-himself/

• 19th amendment attempted to transfer powers of the President to the PM

– lankaweb.com/news/items/2022/05/22/19th-amendment-attempted-to-transfer-powers-of-the-president-to-the-pm/

• To change the system – change the electoral system first

– lankaweb.com/news/items/2022/05/22/to-change-the-system-change-the-electoral-system-first/

• Sri Lanka moves to rein in Gotabaya

‘21st Amendment to the Constitution to be referred to the cabinet for approval on Monday’

– lankaweb.com/news/items/2022/05/22/sri-lanka-moves-to-rein-in-gotabaya/

• Inside the collapse of the Rajapaksa dynasty in Sri Lanka

‘Godahewa and foreign diplomats said army commander Shavendra Silva — who has been in frequent touch with Western officials — was reluctant to deploy his forces for fear of being seen as ordering a military crackdown.’

– lankaweb.com/news/items/2022/05/22/inside-the-collapse-of-the-rajapaksa-dynasty-in-sri-lanka

• Will take up responsibility in govt. subject to conditions: Patali

‘oversight committees which will monitor the miniseries and include all 224 members of Parliament and a special council of formulating policies comprising all parties’

– dailymirror.lk/latest_news/Will-take-up-responsibility-in-govt-subject-to-conditions-Patali/342-237561

– sundaytimes.lk/220522/news/there-is-another-queue-im-told-for-cabinet-portfolios-483583.html

• Gnana Akka: ‘I have not benefitted from political connections’

– timesonline.lk/news-online/Gnana-Akka-I-have-not-benefitted-from-political-connections/2-1137611

– sundaytimes.lk/220522/news/i-have-not-benefitted-from-political-connections-483472.html

• Doubts about 21st Amendment due to its ban on dual citizens entering Parliament

– sundaytimes.lk/220522/columns/ranil-and-his-band-of-men-to-play-all-night-on-titanic-483367.html

• Bus operators offload politicians; no more hires for political events

– sundaytimes.lk/220522/news/bus-operators-offload-politicians-no-more-hires-for-political-events-483426.html

– sundaytimes.lk/220522/news/pick-of-the-pix-2-483509.html

• President makes an appearance; state of emergency lifted

– sundaytimes.lk/220522/news/president-makes-an-appearance-state-of-emergency-lifted-483626.html

• More powers to independent commissions; dual citizens cannot become MPs

– sundaytimes.lk/220522/news/more-powers-to-independent-commissions-dual-citizens-cannot-become-mps-483622.html

• The mobs destroyed not only our houses but precious memories too, say MPs

– sundaytimes.lk/220522/news/the-mobs-destroyed-not-only-our-houses-but-precious-memories-too-say-mps-483594.html

• Cabinet office agrees to give citizens access to information in its possession

– sundaytimes.lk/220522/news/cabinet-office-agrees-to-give-citizens-access-to-information-in-its-possession-483587.html

• Basil Rajapaksa still manipulating matters from behind the scenes

– sundaytimes.lk/220522/columns/as-the-economic-crisis-deepens-rajapaksas-split-into-two-power-centres-483579.html

• House on fire as pain and anger dominate debate

– sundaytimes.lk/220522/columns/house-on-fire-as-pain-and-anger-dominate-debate-483599.html

• Law firms dropping politically exposed persons

– sundaytimes.lk/220522/business-times/law-firms-dropping-politically-exposed-persons-483097.html

• The duty of Parliament vis-à-vis Article 42 of the Constitution

– sundaytimes.lk/220522/sunday-times-2/the-duty-of-parliament-vis-a-vis-article-42-of-the-constitution-483406.html

• Time to change how we select our future parliamentarians

– sundaytimes.lk/220522/sunday-times-2/time-to-change-how-we-select-our-future-parliamentarians-483399.html

• CIABOC to indict Johnston, Keheliya, Rohitha

– island.lk/ciaboc-to-indict-johnston-keheliya-rohitha/

– island.lk/may-09-mayhem-cbo-hc-lawyers-gun-for-johnston/

• Auditor’s role in preventing corruption

– sundaytimes.lk/220522/business-times/auditors-role-in-preventing-corruption-483057.html

• More Opp. members switch allegiance as six more ministers are sworn in

– island.lk/more-opp-members-switch-allegiance-as-six-more-ministers-are-sworn-in/

• Crisis caused by decades of misuse public resources, corruption, kleptocracy – Transparency International of Sri Lanka

– island.lk/crisis-caused-by-decades-of-misuse-public-resources-corruption-kleptocracy-tisl/

• JVP leader: Crisis cannot be resolved without election

– island.lk/jvp-leader-crisis-cannot-be-resolved-without-election/

• An autochthonous Constitution

– island.lk/an-autochthonous-constitution/

– island.lk/a-majoritarian-constitution/

• 1972 Constitution in Retrospect – II

– island.lk/1972-another-in-a-history-of-missed-opportunities/

• Jacqueline concerned about situation in Sri Lanka

– island.lk/jacqueline-concerned-about-situation-in-sri-lanka/

• Ranil-Rajapaksa Interim Government and Cabinet are a betrayal of the People – Philips

– island.lk/ranil-rajapaksa-interim-government-and-cabinet-are-a-betrayal-of-the-people/

• Constitute interim Prime Minister and Cabinet as the new executive branch of government.

– island.lk/whither-lanka/

• Security forces and the police can’t quell rebellions – Champika

– island.lk/parliament-must-decidedly-act-as-biggest-enabler-of-countrys-progressive-policies-opposition-mp/

• No business as usual for interim government – USAID NPC Perera

– island.lk/no-business-as-usual-for-interim-government/

• Moving from #GotaGoHome to #SystemChange

‘the classroom is the ‘most radical place of possibility’’

– island.lk/moving-from-gotagohome-to-systemchange/

• Suicidal government, divided opposition, distorted Aragalaya – Jayatilleka

– island.lk/suicidal-government-divided-opposition-distorted-aragalaya/

• JVP and the Inter University Students’ Federation (IUSF) interfered with fuel distribution

– island.lk/fuelling-flame-of-public-anger/

• The Clear & Present Existential Danger To The State – Jayatilleka

‘the frame of the executive presidency is needed for decision-making in the face of imminent anarchy’

– island.lk/the-clear-present-existential-danger-to-the-state/

• The future of the aragalaya – Devapriya

‘The UNP and the SJB have always been associated with right-wing politics and policies: they are for the IMF, for instance. It would be a mistake to assume that the likes of the IUSF, and the JVP-NPP and FSP, will extend their support to IMF austerity in the longer term.’

– island.lk/the-future-of-the-aragalaya/

• All parties should support the proposed 21A : UNP Deputy Leader

– dailymirror.lk/latest_news/All-parties-should-support-the-proposed-21A-UNP-Deputy-Leader/342-237653

• New secretaries appointed to 23 ministries

– dailymirror.lk/latest_news/New-secretaries-appointed-to-23-ministries/342-237651

• Partial de-militarization in the appointment of new Secretaries to Lankan Ministries

– lankaweb.com/news/items/2022/05/24/partial-de-militarization-in-the-appointment-of-new-secretaries-to-lankan-ministries/

• How Gota also managed to turn the Nation’s ire towards Mahinda – Sathiya Moorthy

– lankaweb.com/news/items/2022/05/23/who-has-had-the-last-laugh/

• Unrelenting Neoliberalism: The Ontario Election and the Ford Government

– socialistproject.ca/2022/05/unrelenting-neoliberalism/

• Ceylon Chamber requests Wijedasa to tweak 21A to meet people’s aspirations

– dailymirror.lk/business-news/Ceylon-Chamber-requests-Wijedasa-to-tweak-21A-to-meet-peoples-aspirations/273-237666

– ft.lk/news/Ceylon-Chamber-writes-to-Wijedasa-on-proposed-21st-Amendment-to-the-Constitution/56-735293

• 21A: NGO Sri Lanka Direct submit proposals; Prevention of crossovers among issues raised

– island.lk/21-a-sri-lanka-direct-submit-far-reaching-proposals-prevention-of-crossovers-among-issues-raised/

• No political party should be formed on ethnicity or religion or similar grounds

– ft.lk/columns/Systemic-change-by-the-people-through-the-people-for-the-people-Part-2/4-735325

• Great crisis & 21A: Urgent imperative for constructive engagement and consensus – Jayatilleka

‘Any attempt by Gota to derail, dilute or delay the Constitutional amendment aimed at rolling back the 20th Amendment enhances the risk of being thrown out of office not so much on that issue but by an irresistible tsunami of violent mass protest born of a despair so widespread the military cannot contain it.’

– ft.lk/columns/The-great-crisis-and-21A-Urgent-imperative-for-constructive-engagement-and-consensus/4-735307

• ‘Freedom’ just by wavin’ the Lion flag?

‘Ironically, the northern and southern insurgencies combined had not achieved so much economic upheaval!’

– ft.lk/columns/Freedom-just-by-wavin-the-Lion-flag/4-735297

• Sri Lankans stuck between hunting for essentials and fighting for good governance

– dailymirror.lk/news-features/Sri-Lankans-stuck-between-hunting-for-essentials-and-fighting-for-good-governance/131-237658

• The danger of Basil Rajapaksa’s rule by proxy

– dailymirror.lk/opinion/The-danger-of-Basil-Rajapaksas-rule-by-proxy/172-237593

• Sri Lanka’s Crisis of Representative Democracy

‘The elite capture of democracy is the other major factor that has contributed to the crisis of Sri Lanka’s representative democracy’

– dailymirror.lk/recomended-news/Sri-Lankas-Crisis-of-Representative-Democracy/277-237595

• Constitutional Reform Wages of haste, sloth and expediency

‘ JR Jayewardene believed the proportional representation system would ensure continuous UNP governments and that no party would ever secure two-thirds majorities in parliament, thus ensuring the safety of the executive presidential system’

– dailymirror.lk/opinion/Constitutional-Reform-Wages-of-haste-sloth-and-expediency/172-237742

• People have no faith in PSC (Parliamentary Select Committee) probes

– island.lk/govt-playing-with-fire/

• Stay, Gota, STAY!: ‘the visible arm of a dark invisible anarchic hard-left movement’

‘one could also see a comprehensive organization behind the face of spontaneity. And a lot of funds seemed to be pouring in. From where?… Although up to now you have been the darlings of the media and lovable David of the masses, the TV channels would not keep sending crews to film you. The news agenda will move on (as it always does), and you will be demoted from the headlines to ‘news in brief’.’

– island.lk/stay-gota-stay/

• Recent political violence and its consequences

– island.lk/recent-political-violence-and-its-consequences/

 • When Sri Lanka’s crisis exploded, some were ready with generators and cryptocurrencies

– qz.com/india/2161330/some-sri-lankans-invested-in-cryptocurrency-to-tackle-crisis/

• How an anthem about crows became angry Sri Lankans’ favourite chant

– qz.com/india/2161913/angry-sri-lankans-invoke-crows-to-mock-ruling-rajapaksa-family/

• Fake Passport: Shashi Weerawansa sentenced to two years in prison

– newsfirst.lk/2022/05/27/fake-passport-shashi-weerawansa-sentenced-to-two-years-in-prison/

– dailymirror.lk/breaking_news/Shashi-Weerawansa-sentenced-to-two-years-imprisonment/108-237851

– economynext.com/ex-sri-lanka-govt-heavyweight-wimal-weerawansas-wife-gets-two-years-in-prison-report-94829/

– timesonline.lk/news-online/Shashi-Weerawansa-sentenced-to-two-years-of-imprisonment-over-passport-fraud/2-1137670

– themorning.lk/wimals-wife-sentenced-to-two-years-in-prison/

– island.lk/weerawansas-wife-sentenced-to-ri/

• President Rajapaksa addressed Japan’s ‘Future of Asia’ Conference

– island.lk/lanka-on-the-brink-of-economic-collapse-prez-seeks-international-help-to-overcome-crisis/

– ft.lk/ft_tv/President-speaks-of-democratic-efforts-in-SL-to-restore-political-and-economic-stability-at-Asian-forum/10520-735397

• BASL, Opposition reject 21-A draft

– island.lk/basl-opposition-reject-21-a-draft/

• Reflections on S.W.R.D Bandaranaike

‘In Sri Lanka, by contrast, the bourgeoisie remained dependent on a colonial framework. Linked to a plantation sector devoid of science, industry, and modernity, they lacked the intellectual initiative to chart a cohesive foreign policy’

– island.lk/reflections-on-s-w-r-d-bandaranaike/

• Basil fights back to save his political future as RW pushes for 21A today’

– dailymirror.lk/top_story/Basil-fights-back-to-save-his-political-future-as-RW-pushes-for-21A-today/155-237802

• JVP proposes more Amendments included in 21A

– dailymirror.lk/breaking_news/JVP-proposes-more-Amendments-included-in-21A/108-237860

• Ranil to rally all for 21 A

‘Colombo Magistrate postponed the request to consider bail and appeal made on behalf of Weerawansa till 30 May. Thus, the former Minister’s wife was imprisoned till Monday.

– ft.lk/news/Shashi-Weerawansa-sentenced-for-two-years-rigorous-imprisonment/56-735429

– ft.lk/top-story/Ranil-to-rally-all-for-21-A/26-735346

• USAID’s National Peace Council says fresh people’s mandate key to address crisis

– ft.lk/news/National-Peace-Council-says-fresh-people-s-mandate-key-to-address-crisis/56-735427

• Before the 9th of May – A look back

‘It was SWRD who is widely blamed for the Sinhala only policy that was introduced to the country resulting in divisions of our countrymen in more ways than one.’

– ft.lk/columns/Before-the-9th-of-May-A-look-back/4-735419

• Warning: State of anarchy is brewing in the country

– ft.lk/columns/Warning-State-of-anarchy-is-brewing-in-the-country/4-735400

• Anarchy is more dangerous than dictatorship

– ft.lk/columns/Anarchy-is-more-dangerous-than-dictatorship/4-735386

• Child or business? Sri Lanka flag vendor given choices by Rajapaksa backers before attack

– economynext.com/child-or-business-sri-lanka-flag-vendor-given-choices-by-rajapaksa-backers-before-attack-94818/

• Sri Lanka protesters ask new PM to serve justice for May 09 attack, to avoid looming crisis

– economynext.com/sri-lanka-protesters-ask-new-pm-to-serve-justice-for-may-09-attack-to-avoid-looming-crisis-94789/

• Witnesses in Sri Lanka’s May 09 protester attack asked to surrender passport – lawyer

– economynext.com/witnesses-in-sri-lankas-may-09-protester-attack-asked-to-surrender-passport-lawyer-94763/

• New PM’s appointment dilutes Sri Lanka’s ‘Gota Go Gama’ protest

– economynext.com/new-pms-appointment-dilutes-sri-lankas-gota-go-gama-protest-94758/

• Police obtain court order on protesters in Colombo

– adaderana.lk/news/82716/police-obtain-court-order-on-protesters-in-colombo

• SJB opposes transfer of parliamentary powers to the executive through govt’s 21A

– lankaweb.com/news/items/2022/05/25/sjb-opposes-transfer-of-parliamentary-powers-to-the-executive-through-govts-21a/

– timesonline.lk/news-online/Opposition-parties-reject-21A-alleges-draft-bill-further-strengthens-Presidential-powers/2-1137669

• Ministry Secretaries expected to find methods to slash expenses

– timesonline.lk/news-online/Ministry-Secretaries-expected-to-find-methods-to-slash-expenses/2-1137652

• Police indiscriminately arresting SJB members, investigation needs to be conducted: Rehan Jayawickreme

– themorning.lk/police-indiscriminately-arresting-sjb-members-investigation-needs-to-be-conducted-rehan-jayawickreme/

• 19A to be implemented as 21A & Executive Presidency will be abolished – Party Leaders reach agreement

– newsfirst.lk/2022/05/27/19a-to-be-implemented-as-21a-executive-presidency-will-be-abolished-party-leaders-reach-agreement/

• Won’t Lalkantha don sheep’s clothing? – Nalin de Silva

– kalaya.org/2022/05/blog-post_27.html

• FSP wants to know how politicos destroyed on May 09 were financed

‘the politicians’s houses destroyed on 09 May had been estimated to be over 400 million rupees each’

– island.lk/fsp-wants-to-know-how-politicos-destroyed-on-may-09-were-financed/

• We just cannot afford to leave such crucial endeavours totally to politicians

– island.lk/natural-cycles-perhaps-a-reason-for-some-optimism/

• Tear gas and water cannons fired to disperse protesters near WTC

– adaderana.lk/news/82739/tear-gas-and-water-cannons-fired-to-disperse-protesters-near-wtc

• Sri Lanka’s Independence – a byproduct of India’s Freedom Struggles

– lankaweb.com/news/items/2022/05/27/sri-lankas-independence-a-by-product-of-indias-freedom-struggles/

• 150 JVP members arrested, MPs blame AKD, a murderer

– lankaweb.com/news/items/2022/05/27/150-jvp-members-arrested-mps-blame-akd-a-murderer/

• Court issues order preventing protesters from entering key economic areas in Colombo

– lankaweb.com/news/items/2022/05/27/court-issues-order-preventing-protesters-from-entering-key-economic-areas-in-colombo/

• Water Droplets Drilling Through Rock (1990)Xi Jinping

– redsails.org/water-droplets-drilling-through-rock/

__________________________________________________________

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.

• Media must stop fomenting tensions

– lankaweb.com/news/items/2022/05/23/media-must-stop-fomenting-tensions/

• Bandula asks all heads of state-owned media institutions to resign

– adaderana.lk/news/82717/bandula-asks-all-heads-of-state-owned-media-institutions-to-resign

• Journalist Handungoda summoned to CID, Lawyers question no official communication

– newsfirst.lk/2022/05/25/journalist-dharshana-handungoda-summoned-to-cid-lawyers-question-why-no-official-communication-was-made/

– economynext.com/sri-lanka-vlogger-unofficially-summoned-by-cid-refuses-to-give-statement-94705/

• A Bronze Lineage: Kannagi/Pattini and Karaikkal Ammaiyar of Polonnaruwa

– island.lk/a-bronze-lineage-kannagi-pattini-and-karaikkal-ammaiyar-of-polonnaruwa-2/

• The Lost World: Hidden Wonders of Ancient Ceylon

– lankaweb.com/news/items/2022/05/26/the-lost-world-hidden-wonders-of-ancient-ceylon/

• Taking art to the people at GotaGoGama

– sundaytimes.lk/220522/plus/taking-art-to-the-people-at-gotagogama-483171.html

• Since Museum contractor was a devout Muslim, all National Museums are closed on Fridays

– island.lk/an-abomination-at-museum/

• Spreading the word of Sri Lankan Portuguese Creole

– sundaytimes.lk/220522/plus/spreading-the-word-of-sri-lankan-portuguese-creole-483176.html

• ‘Ena de Silva House was a watershed in Lanka’s soul search for an identity’

– sundaytimes.lk/220522/plus/a-soulmates-tribute-to-the-vagabond-spirit-of-ena-483159.html

• Tomorrow, Gratiaen Prize 2021 shortlist event online

– sundaytimes.lk/220522/plus/tomorrow-gratiaen-prize-2021-shortlist-event-online-483156.html

• I was glad in one way that the Japanese had bombed Chittagong

– island.lk/war-at-close-quarters-oh-how-unlovely/

• Ukraine Propaganda – BBC Tries To Sell Telegram Rumors That Make No Sense

– moonofalabama.org/2022/05/ukraine-propaganda-bbc-tries-to-sell-telegram-rumors-that-make-no-senseß

• Masses, Elites, and Rebels: The Theory of “Brainwashing”

– redsails.org/masses-elites-and-rebels/

• Calls for independent, transparent investigation into the killing of Shireen Abu Akleh

– sundaytimes.lk/220522/sunday-times-2/wan-ifra-calls-for-independent-transparent-investigation-into-the-killing-of-shireen-abu-akleh-483401.html

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email: econenews@gmail.com

blog: eesrilanka.wordpress.com

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Published by ee ink.

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

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