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Sri Lanka to buy Russian coal; LCC will no longer pursue Indonesian order

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Sri Lanka is to buy 720,000 metric tonnes of Russian coal from two companies–China’s Combasst Industries Development Ltd and Dubai’s Coral Energy DMCC–after an earlier agreement with an Indonesian supplier fell through.

Lanka Coal Company (LCC) will no longer pursue the order from Indonesia’s PT Arista Mitra Jaya. On Monday, the Power and Energy Ministry secured Cabinet permission to buy the stocks from the other two companies shortlisted along with Arista Mitra and Hans Australia Pty Ltd. Hans Australia was later ruled out on the basis of certain terms they required fulfilled.

LCC first placed its order with the lowest supplier Arista Mitra for US$ 240 per ton with 180-day credit. However, the Mandira Bank of Indonesia rejected the usance Letter of Credit (LC) opened by Lanka Coal Company without providing a reason, a Cabinet paper submitted on Monday by State Minister D. V. Chanaka, said.

Arista Mitra then sought to transfer the LC to a third party “where such a transfer is not possible within the context of the contract,” the Cabinet paper said. LCC would, on the Attorney General’s advice, terminate this contract.

The purchasing matter subsequently went to a ministerial sub-committee and the standing Cabinet-appointed procurement committee (SCAPC), after which Combasst Industries and Coral Energy were selected.

Combasst would sell the coal at US$ 230 per MT with 200-day credit, LCC Chairman Shehan Sumanasekara said.

Twenty percent of cargo value would be deposited by LCC in a non-resident rupee account and the balance to the same account, in equal portions. After the credit period, the rupees would be changed into dollars and remitted to the supplier. Combasst’s price was indexed to the Russian Coal Index (RCI).

Coral Energy was selling at a fixed price of US$ 240 per MT, Mr. Sumanasekara said. Under this agreement, there would be no payment until the cargo was discharged at Lakvijaya in Norochcholai, and disbursement would be according to usage (that is, “storage model”).

“This means that, today if the plant requires 5,000 MT despite having one to eight shipments unloaded, we will pay only for the desired quantity,” the Chairman said.

It was anticipated that the coal from Coral Energy would be used for the first time in early June this year.

“Even then, out of the total payment, 80 percent will be disbursed per usage on the same day and there will be a further 120 days of credit for the usage of the balance 20 percent. Both parties have provided the needed credit terms with two different mechanisms,” he said.

LCC had struggled to purchase fuel since its last competitive tender fell apart late last year. The latest companies were selected on the basis of unsolicited proposals after the Cabinet granted approval to this procurement method, alongside permission to make purchases through government-to-government agreements “considering urgent and exceptional circumstances.”

source – sundaytimes

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Joe Biden diagnosed with aggressive prostate cancer

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Former US President Joe Biden, 82, has been diagnosed with prostate cancer that has spread to his bones, a statement from his office said on Sunday.

Biden, who left office in January, was diagnosed on Friday after he saw a doctor last week for urinary symptoms.

The cancer is a more aggressive form of the disease, characterised by a Gleason score of 9 out of 10. This means his illness is classified as “high-grade” and the cancer cells could spread quickly, according to Cancer Research UK.

Biden and his family are said to be reviewing treatment options. His office added that the cancer was hormone-sensitive, meaning it could likely be managed.

In Sunday’s statement, Biden’s office said: “Last week, President Joe Biden was seen for a new finding of a prostate nodule after experiencing increasing urinary symptoms.

“On Friday, he was diagnosed with prostate cancer, characterised by a Gleason score of 9 (Grade Group 5) with metastasis to the bone.

“While this represents a more aggressive form of the disease, the cancer appears to be hormone-sensitive which allows for effective management.”

After news broke of his diagnosis, the former president received support from both sides of the aisle.

President Donald Trump wrote on his social media platform Truth Social that he and First Lady Melania Trump were “saddened to hear about Joe Biden’s recent medical diagnosis”.

“We extend our warmest and best wishes to Jill and the family,” he said, referring to former First Lady Jill Biden. “We wish Joe a fast and successful recovery.”

Former Vice-President Kamala Harris, who served under Biden, wrote on X that she and her husband Doug Emhoff are keeping the Biden family in their prayers.

“Joe is a fighter – and I know he will face this challenge with the same strength, resilience, and optimism that have always defined his life and leadership,” Harris said.

In a post on X, Barack Obama – who served as president from 2009 to 2017 with Joe Biden as his deputy – said that he and his wife Michelle were “thinking of the entire Biden family”.

“Nobody has done more to find breakthrough treatments for cancer in all its forms than Joe, and I am certain he will fight this challenge with his trademark resolve and grace. We pray for a fast and full recovery,” Obama said. In 2016, Obama tasked Biden with leading a “cancer moonshot” government-wide research programme.

(BBC News)

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Special traffic plan during 16th War Heroes’ Commemoration today 

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The 16th National War Heroes’ commemoration ceremony will be held today (May 19) at the National War Hero Cenotaph in Sri Jayawardhanapura under the patronage of President Anura Kumara Dissanayake.

The commemoration event is scheduled to begin at 4.00 pm.

Parallel to the event, a special traffic plan will be implemented in and around the Battaramulla area, according to the Sri Lanka Police.

Authorities have emphasized that no road closures will be enforced.

However, in the event of traffic congestion, movement along Parliament Road – from Polduwa Junction to Kiyayam Junction via Jayanthipura – may be restricted for vehicles traveling to and from Colombo.

To minimize inconvenience, the police have issued the following alternative routes:

For vehicles exiting Colombo: Travel from Polduwa Junction to Battaramulla Junction, then proceed from Palam Thuna Junction to Kiyayam Junction.

For vehicles entering Colombo: Travel from Kiyayam Junction to Palam Thuna Junction, then proceed to Battaramulla Junction and continue to Colombo via Polduwa Junction.

Motorists are advised to follow police instructions and use the designated alternative routes to avoid delays during the commemorative events.

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Nalinda departs for Switzerland to attend WHO assembly

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Minister of Health and Mass Media Dr. Nalinda Jayatissa left for Switzerland yesterday (May 18) to attend the 78th World Health Assembly (WHA78) organized by the World Health Organization (WHO).  

The assembly will be held in Geneva, Switzerland from May 19 – 27 under the theme – “One World for Health”.

Health ministers from all WHO member states, along with over 5,000 delegates representing global health sectors, are expected to attend the assembly.

It’s reported that this will feature wide-ranging discussions with representatives from various countries, during which proposals, ideas, and research data will be reviewed to make key decisions and formulate plans to improve global health conditions in the coming year.

In addition to the Minister of Health, the Sri Lankan delegation to the WHA78 includes the Health Ministry Secretary – Dr. Anil Jasinghe, Sri Lanka’s Permanent Representative to the UN in Geneva – Himali Arunathilaka, and the mission’s First Secretary – Nishanthini Victor.

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