Economic turmoil: Sri Lankan shares suffer worst day in 16 years

by Biranavan
Oct 9, 2020

Sri Lankan shares have had their worst day in 16 years, as a new outbreak of coronavirus infections in the Island weighed on the markets and triggered a trading halt for thirty minutes.

The benchmark CSE All Share Index ended down 7.65% at 5,587.18. The worst intraday percentage lost since 6 April 2004.

Trading on the Colombo Stock Exchange was halted earlier on the 5 October for thirty minutes after the S&P Sri Lanka 20 Index fell over 7.5% from its previous close.

The latest outbreak of coronavirus infections at a garment factory in the Gampaha dented the markets. Following the outbreak, the police have declared curfew in a number of areas

The country has suffered extreme economic hardships in recent months as international debt increases. The cancellation of key infrastructure projects such as the Japanese funded Light Railway Track System comes as Sri Lanka’s Gross Debt exceeds $50 billion, and the recent Moody Credit ratings for Sri Lanka saw a downgrade due to substantial decline in revenue and economic slowdown.

Read more from Reuters.

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Tamil asylum seekers in Australia mark 100 days of continuous protests for permanent visas

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This demonstration, which culminated in a rally and speeches in Punchbowl, highlighted the plight of refugees denied permanent visas for over 12 years. Speakers at the event shed light on the profound impact of the current system, including barriers to higher education, employment, and access to essential services.

The protest has now entered its 100th day, with Tamil asylum seekers and their supporters continuing their relentless demand for permanent protection. For 38 days, they camped outside Australia’s Minister for Home Affairs, Tony Burke’s office in Sydney, calling on the government to end the visa limbo that has left many without basic rights and stability. Tamil asylum seekers have been in Australia for over a decade, living on short-term visas that must be renewed regularly. Without permanent residency, they are excluded from Medicare—Australia’s universal health insurance scheme—and are denied the right to work, study, travel, or access essential services. Many are also required to report to visa offices weekly.

The crisis is compounded by the controversial 'Fast Track' system introduced in 2014 by the Abbott government. According to the Asylum Seeker Resource Centre, this system has resulted in the rejection of around 8,500 asylum seekers' cases. It specifically targets individuals who sought asylum by sea and arrived in Australia between August 13, 2012, and December 31, 2013. Tamil asylum seekers, stuck in visa limbo for years, have launched protests nationwide, with 24-hour encampments in Melbourne, Perth, and Brisbane.

Amaran - Problematic propaganda

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The genre of war epic makes its grand re-entry to Tamil cinema with director Rajkumar Periasamy’s sophomore feature film, ‘Amaran.’ As is often the case with this genre, one cannot help but feel the events of the ‘true story’ onscreen have been heavily modified for easy consumption.

 

 

 

The patriotic military films of Tamil cinema had taken a back seat for a while. The subject matter is now seldom a prominent theme of a film, instead lurking in the shadows peeking through such as via the heroes in the works of Nelson Dilipkumar. The genre of war epic makes its grand re-entry to Tamil cinema with director Rajkumar Periasamy’s sophomore feature film, ‘Amaran.’ As is often the case with this genre, one cannot help but feel the events of the ‘true story’ onscreen have been heavily modified for easy consumption.

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Krishna's rating: 2.5 stars

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Official trailer for film below.

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un_spcial

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“It is the collective responsibility of every State to stop supporting the assault on Gaza and the apartheid system in the occupied West Bank, including East Jerusalem,” the Committee said.

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(b) Leverage their influence to ensure Israel ceases its policies and practices negatively affecting the human rights of the Palestinian people and other Arabs of the occupied territories;  

(c) Halt all offensive arms transfers, including weapons, explosives, guns and/or ammunition, to Israel;

(d) Hold nationals, including those with dual Israeli citizenship, involved in settler violence or violations in Gaza, accountable for violations of international law;  

(e) Review financial transfer policies that allow religious and charitable organizations to fund activities in Israel, which enable the further sustenance of an apartheid system;  

(f) Support UNRWA politically and financially, including by increasing funding through the United Nations regular budget;  

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(j) Fully cooperate with the International Criminal Court. 

Read more here

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