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Working Together with the people is crucial for steering the nation towards gradual economic transformation – President
Achieving economic success alone is not sufficient for a nation’s development, President Anura Kumara Disanayake emphasized today (04), highlighting that economic progress must be accompanied by social development and a transformation in political culture.
The President made these remarks during a discussion held at the Ministry of Finance with senior officials of the Treasury.
He stated that countries such as China, South Korea and Vietnam achieved significant economic transformation through decades of collective effort alongside the people.
The President emphasized that the responsibility of developing a country rests with individuals collectively and that everyone must work together in a united effort to achieve national goals.
President Disanayake stressed that as a political leader, he does not intend to impose his views on officials but rather reach necessary decisions through structured dialogue between experts in the public service and political leadership. He recalled that several past projects in Sri Lanka had failed due to arbitrary political interference.
The President instructed Treasury officials to implement structural reforms in key institutions based on core government policy, while maintaining strategically important sectors under state oversight. He urged the officials to act swiftly in this regard.
He also drew attention to key external factors likely to impact Sri Lanka’s economy, including the International Monetary Fund’s Extended Fund Facility programme, newly imposed tariffs from the United States, and the upcoming expiration of the GSP+ concessions in 2027.
Minister of Labour and Deputy Minister of Economic Development Dr. Anil Jayantha Fernando, Deputy Minister of Finance and Planning Harshana Suriyapperuma, Secretary to the Finance Ministry Mahinda Siriwardana and several senior Treasury officials were present at the discussion.
(PMD)
Latest News
US sanctions International Criminal Court itself in major escalation
United States Secretary of State Marco Rubio has announced a new set of sanctions against the International Criminal Court (ICC), this time targeting the entity itself, as opposed to the tribunal’s officials or groups that provide support.
The announcement on Friday represented a major escalation from the administration of US President Donald Trump, which has vowed an “all of government” approach to dismantling the court.
“We will ban transactions with this rogue court, cutting off their resources and crippling their ability to operate against us because our message is clear: the United States and the American people are not subject to the jurisdiction of this fake ICC,” Rubio said in a video posted on social media. “Either the ICC will end its threats, or we will end the ICC.”
As justification for its actions, the administration has pointed to the court’s ongoing investigation into abuses committed in Afghanistan, which could ensnare US military and intelligence personnel, as well as the ICC’s arrest warrant for Israeli Prime Minister Benjamin Netanyahu and former Defence Minister Yoav Gallant for war crimes committed in Gaza.
Before Friday’s actions, the US had sanctioned ICC judges and prosecutors, a UN special rapporteur focusing on the occupied Palestinian territories and Palestinian rights groups that have provided evidence to the court.
Several rights groups have challenged those sanctions in US federal court, saying restricting how US citizens interact with the court treads on their constitutional freedoms. Sanctioned ICC judges have also launched legal challenges in the US.
[Aljazeera]
Foreign News
Trump announces Russian diesel deal amid soaring US fuel prices
United States President Donald Trump said that Russia has agreed to supply 300,000 tonnes of diesel fuel to global markets amid discussions with Russian President Vladimir Putin.
“I have just concluded a highly successful discussion with President Vladimir Putin, of Russia, wherein it was agreed that Russia will immediately supply over 300,000 Tons of Diesel Fuel to the American and Global Marketplace, another 500,000 Tons during the month of November, and 1,000,000 Tons immediately thereafter,” Trump said in a post on his Truth Social platform.
The president added that Russia would deliver an additional 3 million tonnes of fuel “within a short period of time”. He said that the country would supply 500,000 tonnes in November.
An envoy for Russian President Vladimir Putin, Kirill Dmitriev, praised cooperation between Russia and the United States on diesel and energy in a post on X shortly after.
“Russia-US cooperation on diesel and energy will benefit the world,” Dmitriev wrote on X.
Petrol price pressures
The deal comes despite Ukrainian air strikes, which have taken more than half of the country’s oil refining capacity offline, according to claims made by Ukraine’s Ministry of Defence on Sunday.
The latest announcement comes a week after the G7 countries agreed to release 100 million barrels amid pressure from the White House.
Diesel prices have been elevated in recent months but have started to decline. The average price for a gallon is $6.27 ($1.66 per litre), according to the American Automobile Association (AAA), which tracks daily petrol prices. That’s down $0.10 from this time last week, but up $5.94 from this time one month ago.
[Aljazeera]
Latest News
Tsunami warnings across Latin America after 7.7 magnitude earthquake hits
A magnitude 7.7 earthquake has hit southern Panama, triggering tsunami warnings across Central and South America.
The US National Weather Service issued tsunami warnings for Panama, Colombia, Ecuador, Nicaragua and Guatemala on Friday following the quake.
Chile’s naval Hydrographic and Oceanographic Service also issued a tsunami warning.
The US Geological Survey said the earthquake was centred about 10km (6 miles) southwest of the remote community of Pitaloza Arriba along the Pacific Ocean coast.
Residents of Panama City reported feeling tremors, with buildings shaking and people evacuating into the streets.
“We felt it very strongly. It knocked things over in the kitchen, but we’re okay, though we’re very scared,” 60-year-old Rosendo Dominguez, who is from Herrera province, where the earthquake struck, told The Associated Press news agency by phone.
“Everyone is outside, scared,” Dominguez added.
Videos shared by newspaper La Prensa showed the tower of a historic building had collapsed along with several balconies of a residential building in Penonome, a city about halfway between the epicenter and Panama City.
Panama’s ministry of education ordered schools closed.
There have been several destructive earthquakes in the region this year.
In June, twin quakes hit northern Venezuela, causing widespread devastation and killing at least 6,500 people.
In August, a magnitude 7.4 earthquake hit Colombia, killing at least 289 people.
[Aljazwwea]
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