Sri Lanka set to begin talks to restructure debt of $30bln-by Uditha Jayasinghe Source:Zawya Crisis-hit Sri Lanka will begin on Friday the tricky task of debt renegotiation with a raft of private and bilateral creditors, including China, India and Japan, to restructure and repay nearly $30 billion that it owes. WHY THE NEED TO RESTRUCTURE DEBT? Years of economic mismanagement and the fallout of the COVID-19 pandemic have pushed foreign exchange reserves to record lows in the worst economic crisis in more than seven decades. Sri Lanka clinched a staff-level deal in September for a $2.9-billion bailout package from the International Monetary Fund after its central bank declared a default on some foreign debt in April, saying payment was “challenging and impossible”. ...

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Much-needed Family Health Care Centre for Jaffna-BY Consultant Family Physician, Dr. S. Kumaran, and Viduni Basnayake Source:Island This article describes the experiences of a novel, evidence-based approach that involves patients, and their family members, in delivering health care, providing medical education, and conducting research, at a primary care institution, called a Family Health Care Centre. The Northern Province, in Sri Lanka, is a war-ravaged region that lags behind the rest of the country, in economic development. After the COVID-19 pandemic had already squeezed the health services of its limited resources, the current financial crisis has pushed the sector to the brink of collapse. This crisis puts patients at further risk due to power outages, a lack of medicine, and equipment shortages. Another major issue, caused by the economic collapse, is the shortage of human resources. In addition, frequent protests, brought on by political unrest, disrupt the provision of health services. ...

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Habarana all set to become Tourism Hub-by Ishara Jayawardane A close encounter with elephants. Source:Dailynews Habarana is the next tourism hot spot in Sri Lanka! And it is already happening! When tourists arrive in Sri Lanka, they will be explorers of a new world. Recently the Ministry of Tourism and the Sri Lanka Tourism Development Authority organised a media tour of Habarana in order to spread the word that Habarana has the potential to be the number 1 tourist destination on the list. The mission is to bring in as many tourists as possible. The vision is – Sri Lanka Forever! Habarana is certainly a beautiful location in Sri Lanka where you can make your way to the Minneriya National Park, Hiriwadunna Village and Hiriwadunna Lake. One can immediately see that it has the potential to attract tourists in large numbers. Incidentally, Minneriya National Park is the place where there ...

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Extract from Old Antonian Social Club of Australia (OASC) 39th Dinner Dance Souvenir President’s Message  Welcome to the 39th Annual Dinner dance ushered by the Old Antonian Social Club of Australia. The event is taking place after a lapse of 2 years due to the COVID 19 pandemic which paused all activities world over. We are now back with new found vigour in our 41st year to serve our 168-year-old Alma Matar. We also provide the environment to foster commandership to our fellow old Antonian community in Australia mainly living in Melbourne with the many social gatherings we organize.  It is pertinent to note that the year 2020 went by all of us, shell shocked trying to grapple with the rampaging COVID 19 menace. In 2021 we managed to partake in a few outdoor activities by mainly meeting our annual Cricket commitments by fielding teams. We also undertook a fund-raising campaign to ...

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Is travelling to work always a waste of time? Source:Sports Americans are “always in a hurry”, wrote Alexis de Tocqueville in “Democracy in America”, his opus published in 1835. Until the covid-19 pandemic, nowhere was this more evident in recent decades than in packed trains at peak times as people commuted to work. Almost 75% of professionals in America say the journey is what they dread most about going back to the office. Working remotely a few days a week is here to stay. Rush-hour traffic, overcrowded trains and transport strikes (like those on London’s tube in the past week) all argue for working from home. Across America and Europe rising fares eat into people’s salaries. The outcry for lower carbon emissions adds additional weight to the argument for millions of employees not undertaking unnecessary journeys. In some emerging cities, getting to work involves honks and epic gridlock as well ...

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Tomato Fever is misleading name for Hand, Foot and Mouth Disease, say doctors Source:Dailynews INDIA: Tomato fever is not a scientific name. It has been loosely used to describe a common mild viral illness called Hand Foot and Mouth disease, as per the experts. “Unfortunately, a recent publication in The Lancet claims that the lesions gradually enlarge to the size of a tomato, which is completely wrong, misleading and alarming,” experts said. According to Dr. Rajeev Jayadevan, a member of IMA in Kochi, “The illness is commonly caused by the Coxsackie virus which results in small 4-6 mm red spots on the skin that later become bubbles with fluid inside. The skin lesions can appear on the hands, feet and buttocks. It spreads by contact between young children and is self-limiting, requiring only supportive treatment. It has no connection with tomatoes.” In the past few days, some reports have emerged ...

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Sri Lanka Crisis: A 21st Century French Revolution-by Varun Mohan Source:Srilankaguardian The Sri Lankan economic crisis recently reached a tipping point when protesters marched into the Presidential Palace on July 9, marking the end of 10 years of Rajapaksa family rule in the country. The status of Rajapaksa remains unknown; he is believed to have initially flown to the Maldives, then to Singapore, and at present he might be in Saudi Arabia. His brother was stopped at the airport after a notice was issued by the Sri Lankan court to block Rajapaksa family members from leaving the country. The ongoing political saga, which directly stems from the worsening economic crisis in Sri Lanka, is similar to events that happened in 18th century France leading up to the French Revolution. ...

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South Asia’s Organic Orchard – In conversation with Saaraketha Organics co-founder Charitha Abeyratne Hettiarachchi-By Shiran Illanperuma Source:Biznomicsmagazine When Saaraketha Organics began business, exports accounted for the majority of the company’s sales. However, consumer tastes have shifted in recent years and the company now caters to both local and foreign markets (namely the Middle East and European Union). Like most local firms in the production economy, the last few years have been tumultuous for Saaraketha, with many highs and lows, bringing with them new challenges and opportunities. The COVID-19 pandemic, followed by a foreign exchange and currency crisis would be a lot for an entrenched corporation to bear, let alone a young SME. A firm believer in domestic value addition and sustainability, Saaraketha co-founder Charitha Abeyratne Hettiarachchi spoke to Biznomics about contemporary challenges faced by entrepreneurs in the agricultural sector. The following are excerpts: A structural problem of the Sri Lankan ...

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Message to Sri Lankans living abroad from Dr. P Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka source:cbsl.gov.lk Currently Sri Lanka is facing social, economic and financial distress creating hardships to its people due to the long lasting impact of the COVID-19 pandemic, global political imbalances and macroeconomic imbalances of the country. Although the authorities are taking measures to address the above situation of the country, including taking steps to actively manage its debt obligations, finding immediate financial assistance from other nations and progressing at the discussions with the International Monetary Fund for a comprehensive programme, the positive impacts of such measures will benefit the people only in the medium to long term. Therefore, urgent measures are needed to enhance the foreign reserve position of the country to meet its day-to-day essential imports including food, fuel and medicine.  In this background, the Central Bank of Sri Lanka (CBSL) ...

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Doctor, academic, activist, and now MP: Dr Michelle Ananda-Rajah – By Khushaal Vyas The newly elected Member of Parliament with proud South Asian ancestry, talks politics, her vision for Higgins, and what this election means for multicultural Australia.     Source:indianlink.com.au As the dust settles from an extraordinary Federal election campaign, it has become clear that Australia has voted in a more diverse parliament than we have ever seen before in our history. Politics aside, this fact alone is something that we ought to celebrate and be immensely proud of. One of the most fascinating stories underpinning the changing face of Australia’s parliament at this election has been the impressive rise of the new member for Higgins, Dr Michelle Ananda-Rajah of the Australian Labor Party. A seat that had been held by the Liberal Party since its creation in 1949, Ananda-Rajah’s success in Higgins was one of several history-making results that has ...

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