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Srilankan News
Sri Lanka Central Bank maintains interest rates, expects the inflation to decline

Fri, Mar 8, 2013, 01:13 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 08, Colombo: Sri Lanka's Central Bank has decided to maintain current policy interest rates as its Monetary Board is of the view that the current monetary policy stance is appropriate.
Following its monthly Monetary Board meeting held Thursday, the Central Bank said the Repurchase rate would remain at 7.50 percent while the Reverse Repurchase rate remains at 9.50 percent.
The inflation remained unchanged for last month at 9.8 percent but the Central Bank expects the inflation to decline from March onwards and reach a more favorable level by the end of the year.
The inflation has been at single digit levels for the past 49 months, the policy review for March 2013 pointed out.
'The positive outlook for inflation is expected to continue, supported by well contained demand and favorable domestic and global supply conditions," it said.
Private sector credit growth declined further to 15.5 percent in January 2013 from 35.2 percent in March 2012 although the government and public corporations borrowing from banks expanded by 18.3 percent in January 2013.

The Central Bank expects, with the anticipated price adjustments in the energy sector, the state owned enterprises would rely less on bank financing and the move would result in the release of additional resources for the private sector.
The Central Bank was concerned that two months after relaxing monetary policy, interest rates pertaining to both deposit and lending interest rates still remain high.
However, following recent discussions that the Central Bank had with leading commercial banks, it is anticipated that both deposit rates and lending rates will be adjusted in the near term, in line with the direction of monetary policy, the Bank said adding that such adjustments are expected to stimulate private sector. So far during the year, the balance of payments has continued to record a surplus, and a comfortable overall surplus is anticipated in 2013.
Although the Central Bank has purchased US$ 486 million on a net basis from the market this year, exchange rate has shown a greater stability due to increased foreign exchange inflows to the government securities market, and from tourism and private transfers.

Sri Lankan farmers to initiate legal action to get back the discontinued farmers' pension
Fri, Mar 8, 2013, 11:24 am SL Time, ColomboPage News Desk, Sri Lanka.

Mar 08, Colombo: Farmers in Sri Lanka plan to initiate legal action to demand the re-payment of the farmers' pension that has been discontinued.
National Organizer of the All Ceylon Farmers' Federation, Namal Karunaratne said the association would take legal action in order to get the farmers' pension scheme back on track and to restore farmers' rights.
He explained that the government had paid the farmers' pension by getting them involved in the process through a written agreement.
The pension scheme is under the Agriculture Insurance Board, which is under the purview of the Finance Ministry, the representative said.
According to Karunaratne, the farmers' pension scheme has been discontinued since 2011.
The government should take measures to recommence the farmers' pension scheme and to pay the arrears as well, Karunaratne added.

Sri Lanka private bus operators to discuss fare hike with Minister
Fri, Mar 8, 2013, 11:14 am SL Time, ColomboPage News Desk, Sri Lanka.

Mar 08, Colombo: Private Transport Minister of Sri Lanka C.B. Ratnayake is to meet with the private bus operators today to decide on increasing bus fares following the recent fuel price hike.
The private bus operators have requested the government for a diesel subsidy instead of increasing bus fares.
The Minister has asked for some time to consider the matter and he will announce the government's decision at the meeting today.
Private bus operator's call for a fuel subsidy or a fare hike was renewed following the recent fuel price hike.
Meanwhile, the local media quoting sources from the transport sector has said that fares were likely to be increased by 10%.

Sri Lanka's major opposition politician arrested for assaulting a foreigner
Thu, Mar 7, 2013, 11:57 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 07, Colombo: A Provincial Councilor of Sri Lanka's major opposition United National Party (UNP) has been arrested for allegedly attacking a foreign national.
Kegalle police arrested the Provincial Councilor Sandeep Samarasinghe, a member of Sabaragamuwa Provincial Council, for assaulting the foreign national after an argument with him. The incident has taken place at a hotel that belongs to the politician.
The visitor has been admitted into Kegalle hospital. The suspect has also received treatments from a hospital stating that he was assaulted by the foreigner.
In 2011, ruling party Chairman of Tangalle Pradeshiya Sabha assaulted and killed a British tourist at a resort in Tangalle,

Sri Lanka Navy arrests 54 illegal migrants bound for Australia
Thu, Mar 7, 2013, 09:27 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 07, Galle: Sri Lanka Navy arrested 54 illegal migrants bound for Australia today and handed them over to the Criminal Investigations Department (CID) for further investigations.
A fast Naval Patrol Craft attached to the Southern Naval Command has intercepted a multi-day fishing trawler Thursday (07) with the 54 people onboard in the sea off 20 nautical miles off of Weligama.
The group of 3 Sinhalese and 51 Tamils included 36 men, 7 women and 11 children. They are being escorted to Galle Harbor to hand them over to the CID for further investigations, the Navy said.
Despite Sri Lanka Navy's efforts and Australia's recent measures to return asylum seekers, attempts by would-be asylum seekers continue.

Sri Lanka spends nearly 10 billion rupees to conduct 16 elections since 2005
Thu, Mar 7, 2013, 12:06 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 07, Colombo: The Sri Lankan government has spent nearly 10 billion rupees to conduct 16 elections since 2005, a government minister revealed.
Chief Government Whip, Minister Dinesh Gunawardena told parliament that the government has spent Rs. 9.917 billion for two Presidential elections, six Provincial Council elections and seven local government elections between 2005 and 2013.
He made this statement in response to a question posed by the opposition United National Party (UNP) parliamentarian Ravi Karunanayaka.
The Minister added that the North-Central, Eastern and Sabaragamuwa Provincial Council elections last year had cost Rs 672.75 million to the government.
The Elections Commissioner has suggested the government to introduce an electronic voting system since a large sum of money and human resources had to be invested under the current voting system.
Minister Gunawardena said the electronic voting system would be introduced as soon as relevant legal documents are drafted.

Sports.

Sri Lanka v Bangladesh, 1st Test, Galle, 1st day

Sangakkara ton highlights Sri Lanka's day

The Report by Kanishkaa Balachandran

March 8, 2013

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Sri Lanka 361 for 3 (Dilshan 54, Sangakkara 142, Thirimanne 74*) v Bangladesh
Scorecard and ball-by-ball details

It was all one-way traffic on the opening day in Galle as Sri Lanka's batsmen, with varying levels of experience, set the platform for a massive score and never allowed the initiative to slip. Kumar Sangakkara had been out of action since injuring his finger in the Melbourne Test in December. The lack of match practice over the last three months - he was forced to pull out of the tour game in Matara due to the contracts crisis - didn't matter as he eased back into Test match action with a positive century, getting to the landmark inside two sessions. Tillakaratne Dilshan's attacking fifty had eased the pressure not just on Sangakkara but also the inexperienced middle order, which was missing two stalwarts ahead of this series.

Full report to follow

Tea Sri Lanka 247 for 2 (Dilshan 54, Sangakkara 104*) v Bangladesh
Live scorecard and ball-by-ball details

Kumar Sangakkara goes through the off side, Sri Lanka v Bangladesh, 1st Test, Galle, 1st day, March 8, 2013

Kumar Sangakkara showed no signs of discomfort after returning from injury © AFP

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Series/Tournaments: Bangladesh tour of Sri Lanka

Teams: Bangladesh | Sri Lanka

Kumar Sangakkara had been out of action since injuring his finger in the Melbourne Test in December. The lack of match practice over the last three months - he was forced to pull out of the tour game in Matara due to the contracts crisis - didn't matter as he eased back into Test match action with a positive century, scored inside two sessions in the first day in Galle, to put Sri Lanka in a commanding position. Tillakaratne Dilshan's attacking fifty had eased the pressure not just on Sangakkara but also the inexperienced middle order, missing two stalwarts ahead of this series.

At the toss, neither captain fancied bowling first. Angelo Mathews wanted his new-look batting order make first use of the pitch before it started to get slower and lower. The top order took advantage of the good batting conditions in Galle, motoring along to 132 for 1 at lunch. Bangladesh claimed just one more wicket in the second session, that of the Dimuth Karunaratne, and the session was all the more one-sided given their inability to check the run flow. An innings run-rate of close to four and a half after two sessions was ominous enough for the bowlers.

Dilshan maintained a healthy strike-rate of close to a run-a-ball, scoring 36 runs off boundaries alone, but not all came off the middle of the bat. He looked wobbly in the first over of the game, getting away with a leading edge that sneaked past gully and rolled to third man. His knock also included a mistimed pull past the keeper and a top-edged hook that fetched boundaries. In between were crisply driven boundaries through cover, a sweep and an effortless drive past mid-on that brought up his fifty.

Bangladesh turned to spin from both ends from the 13th over, but there wasn't much purchase for them straightaway. Dilshan was intent on using his feet to disturb their rhythm and Bangladesh to their credit took the first real opportunity that came their way. Sohag Gazi tossed it up wider, Dilshan came down the pitch and spooned it to mid-off off the toe of the bat.

Sangakkara walked in when Karunaratne was forced to retire after hurting his arm when trying to pull a short ball. It took Sangakkara just one ball to find his rhythm, slashing a wide delivery past point for four. He was strong against the spinners, rocking back and cutting when they dropped it short and wide, and it was a pattern through his innings. He survived a stumping chance when he was beaten in flight and bounce off Gazi, managing to drag his back foot back just in time. He was luckier to survive a close shout for lbw off Gazi on 38 and replays showed the ball striking him in front of middle stump. In the absence of DRS, Bangladesh had to accept the umpire's call and move on.

Shahadat Hossain attempted the bouncer, but the lack of pace on the pitch enabled Sangakkara and the returning Karunaratne to stay back and pull. Gazi's drift into the left-handers from round the wicket kept the batsmen in check, but when he dropped short or too wide, he was punished through the off side. Two such cuts past point brought up two milestones for Sangakkara - his fifty and past Sunil Gavaskar's tally of 10,122 runs.

There was temporary relief for Bangladesh when Karunaratne was trapped lbw on the back foot to Gazi, who was rewarded for his drift. Sangakkara's was the wicket they needed, though. Lahiru Thirimanne had the benefit of a set batsman at the other end, and after a watchful start - he scored only 4 from his first 25 balls - took on the spinners and added an unbeaten 66 with Sangakkara. The latter smacked a six and a four off the part-timer Mohammad Ashraful, and then reached his 31st Test century with a clip wide of midwicket.

ithanage debuts, Sri Lanka bat