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Govt institutions permitted to use private banks

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Minister of State for Finance Mr. Shehan Semasinghe claims that for the first time, government institutions have been allowed to use the services of private banks.

“We authorised them because we cannot afford to allow any breakdown in the country’s financial processes,” he said. “The Government will take every precaution to ensure that trade union strikes do not disrupt the normal life of the people.”

The Government will not allow any trade union actions to disrupt the financial processes involved in obtaining essential items, including food, fuel, and coal, he said. The Minister was responding to the recent strikes by certain trade unions and how the Government will face them if they continue such trade union action.

“When the IMF negotiations were taking place last year, they blocked the gates of the Finance Ministry. They did so to prevent the Secretary to the Treasury from joining the IMF-Government discussions and to delay the progress in IMF bailout talks,” the Minister said.

“When the IMF’s Managing Director announced that they are looking at Sri Lanka positively and recognised the Government’s commitment, determination, and transparency, in the last eight days, the trade unions have come out on the streets for demonstrations.

We also asked him if these Trade union actions were causing any revenue losses. “Yes, undue trade union actions will affect the economy. These trade union actions are unfair. What the people in this country experience now differs from what they experienced eight months ago.”

He said all should be genuine enough to understand the country’s improvement. These trade union actions have nothing to do with taxes or Government reforms.

“It is evident that on the verge of receiving IMF approval, many political authorities and Opposition party leaders have become uncertain about their chances of accomplishing their political ambitions,” said Semasinghe.

He said they would only be able to promote their political ideology with much lower intensity than they had about eight months ago. However, they might spread their political ideology by ensuring the people suffer as much as possible.

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Shooting incident ‘targeting’ former MP Uddika was self-orchestrated : Police

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Sri Lanka Police says it has been uncovered that the incident where several gunshots had been fired at the vehicle belonging to former Anuradhapura District parliamentarian Uddika Premaratne, had been orchestrated by the actor-turned-politician himself with the assistance of an Assistant Superintendent of Police (ASP) in the area.

Speaking during a press conference held in Colombo today (13), the Police Media Spokesman DIG Nihal Thalduwa said that the suspects connected to the incident have been identified so far following investigations carried out by the CID.

On September 17, 2023, a group of unidentified gunmen had opened fire at Premaratne’s car soon after he returned to his residence in Anuradhapura at around 10:35 p.m. The parliamentarian had managed to escape unharmed.

The perpetrators, who had arrived in a car, were said to have targeted the parliamentarian who was walking towards the house after parking his vehicle. The left rear door glass of Premaratne’s car was damaged in the shooting incident for which the gunmen were believed to have used a pistol.

Anuradhapura police initiated investigations soon after the incident was reported and Special Task Force (STF) personnel were deployed to beef up the security near the MP’s house. Later, investigations into the matter were handed over to the Criminal Investigation Department (CID).

However, the former MP claimed that the existing system within the country was the reason behind the recent shooting incident targeting him.

Speaking in Parliament in this regard, MP Premaratne said that while he believed the system was the cause behind the recent shooting outside his residence, it is also the reason why the country is in the state it is today.

Later on 27 February 2024, the Sri Lanka Podujana Peramuna (SLPP) MP resigned as a Member of Parliament, following which S.C. Muthukumarana of SLPP was appointed to fill the vacant MP seat.

However, Premaratne was later reported to have flown to Canada, seeking political asylum, which he refuted, and claimed that he was expecting a work visa in Canada.

In 2020, the popular actor was announced as a candidate for the 2020 parliamentary election from the Anuradhapura District as a member of the Sri Lanka People’s Freedom Alliance, a political alliance led by the SLPP formed in 2019. 

He obtained 133,550 votes and won a seat in the 16th Parliament of Sri Lanka.

(adaderana.lk)

(This story, originally published by adaderana.lk has not been edited by SLM staff)

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Apple is the world’s first $1 trillion brand: Kantar

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Kantar BrandZ’s Top 10 Most Valuable Global Brands 2024 has named Apple as the world’s first trillion-dollar brand, holding onto pole position for the third consecutive year. 

Google, Microsoft, and Amazon join Apple atop the rankings, with McDonald’s rounding up the top 5.

Demonstrating how effective AI has become for driving brand value, NVIDIA has lept 18 places to crack the top 10 for the first time, holding sixth position with a 178% year-on-year brand value increase. 

Facebook rejoined the Top 10 after a one-year absence, while Oracle joined the Top 10 for the first time. 

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The G7 Summit begins today

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Leaders of the Group of Seven (G7) countries are meeting for a three-day summit, starting today (13 June) to discuss global affairs in the southern region of Puglia (Apulia), Italy.  

Heads of state of the seven members – the United States, Canada, Germany, France, Italy, Canada and the United Kingdom – as well as the chiefs of the European Council and the European Commission will be present at the event.

Italy, the host of this year’s event, has extended an invitation to more than 10 other countries for sideline discussions. These include UAE’s Mohamed bin Zayed, Algeria’s President Abdelmadjid Tebboune, Jordan’s King Abdullah II and Turkey’s President Recep Tayyip Erdogan. Notable absentees are Egypt and Saudi Arabia, who it  is reported, had been invited.

Support for Ukraine is top of the agenda. President Volodymyr Zelenskyy is scheduled to arrive on the summit’s first day for two sessions dedicated to the war-torn country. The G7’s most anticipated outcome is an agreement over a $50bn loan for Ukraine backed by profits accrued on Russian assets frozen in the West. 

The war on Gaza is also expected to dominate talks. 

Pope Francis will also be among the guests – the first time a pontiff has been invited to the summit – for a session dedicated to artificial intelligence (AI). Other specific sessions will be on migration, financial issues and the situation in the Asia Pacific. 

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