News
President urges young lawyers to specialize in offshore economy law and form a committee to lead new legal developments in the Port City
Addressing the Annual General Meeting (AGM) of the Royal College Lawyers’ Association held at the Blue Ballroom of the Hilton Hotel Colombo on Saturday (25) President Ranil Wickremesinghehe suggested the development of the new Port City as a financial centre with an offshore economy law and proposed the forming of a committee of lawyers, especially young ones who want to specialize in this area, to learn and get a head-start on the new laws being contemplated.
The President also reflected on his time at Royal College and how it helped shape his character and sense of responsibility.
He also discussed his commitment to making tough decisions for the good of the economy and the country, even if they are unpopular. President Wickremesinghe highlighted the important role that the Royal College has played in shaping the law and legal system in Sri Lanka and suggested new areas of law that may emerge in the future. He encouraged young lawyers to get a head-start on the legal areas in relation to making the Port City into a financial centre and emphasized the importance of taking on responsibility and leadership roles.
In a lighter vein, the President joked that he cannot make all the lawyers President’s Counsels but is happy to make them all Royal Counsels.
The Welcome Speech was delivered by the President of Royal College Lawyers’ Association Rohan Sahabandu (PC) while outgoing Secretary of the Royal College Lawyers’ Association Harshana Matharaarachchi presented the report.
Rohan Sahabandu (PC) was re-elected as the President of the Royal College Lawyers’ Association. Newly elected secretary Lasitha Kanuwanaarachchi delivered the vote of thanks.
Attorney General Sanjay Rajaratnam, and Principal of the Royal College R. M. Ratnayake were also present at the occasion.
News
Maldives Coast Guard Ship Huravee arrives in Colombo
The Maldives Coast Guard Ship Huravee arrived at the Port of Colombo for replenishment purposes on 02 Mar 26. The visiting ship was welcomed by the Sri Lanka Navy (SLN) in compliance with time-honoured naval traditions.
The ship is a 48.9m long Offshore Patrol Vessel which is commanded by Lieutenant Colonel Ahmed Nafiu Mohamed.
Meanwhile, the ship’s crew is scheduled to visit several tourist attractions in the city of Colombo, during their stay in the island.
News
AKD warns of far reaching economic consequences of Middle East war
President Anura Kumara Dissanayake yesterday called for an immediate and peaceful resolution of the escalating Middle East conflict, warning that the crisis could have far-reaching repercussions on the global economy, including Sri Lanka.
Addressing Parliament, the President stressed that no military conflict benefited humanity, particularly at a time when destructive military technologies were rapidly advancing.
“Any military conflict does not create a favourable situation for any group of people,” he said, urging all parties to make urgent commitments towards peace. “As Sri Lanka, our position is that all parties involved in this war must, as soon as possible, take steps toward a peaceful world.”
He cautioned that Sri Lanka could not remain insulated from the fallout from the conflict, noting that disruptions to global oil and gas supplies, threats to migrant workers in the Middle East, and potential shocks to tourism, remittances, shipping and aviation were real concerns.
A national programme was being formulated to mitigate the impact, he said, adding that its success would hinge on broader international efforts to restore stability, the President said.
Acknowledging public anxiety shaped by past economic hardships, President Dissanayake said social stability could not be ensured through rhetoric alone but required tangible guarantees that citizens would not face another crisis.
While noting that the government had successfully navigated multiple challenges since assuming office, he described the Middle East situation as distinct due to the uncertainty surrounding its duration and outcome.
The government, he said, was closely monitoring developments. The Central Bank had conducted a review with a report on the likely economic impact expected shortly. The Ministry of Finance is also preparing an assessment of the potential effects on public life, alongside measures to ensure the uninterrupted provision of essential services locally and for Sri Lankans overseas.
“The primary responsibility for finding a path out of the crisis rests with the Government,” he said, calling on Parliament and the public to collectively confront the challenge under a unified national plan.
Providing a detailed account of the country’s energy reserves, the President said storage capacity rather than supply remained the key constraint. Excluding the Indian Oil Corporation tanks in Trincomalee, total storage capacity at Kolonnawa and Muthurajawela stands at approximately 150,000 metric tons.
Diesel stocks were currently sufficient for 33 days, with refining contributing around 1,800 metric tons daily. Petrol reserves will last 27 days, with a 35,000 metric ton shipment due on March 7 or 8 expected to extend availability to around 40 days.
Aviation fuel stocks are adequate for 49 days, supported by both daily refining and imports. Scheduled shipments include vessels from RM Parks on March 14, Sinopec on March 17, IOC on March 21 and the Ceylon Petroleum Corporation on March 28.
Crude oil supplies were sufficient to operate the refinery for 26 days, with an additional shipment expected to extend operations by a further 18 days, the President said.
“Because of this, there is no crisis regarding oil,” the President assured Parliament.
News
Pope invited to visit Sri Lanka
President Anura Kumara Dissanayake has invited His Holiness Pope Leo XIV to visit Sri Lanka.
The official invitation was handed over by Minister Bimal Ratnayaka to the Vatican’s Under Secretary for Relations with the States, at the Vatican, yesterday, during the Minister’s official visit to Italy, the President’s Media Division said.
-
Opinion5 days agoJamming and re-setting the world: What is the role of Donald Trump?
-
Features5 days agoAn innocent bystander or a passive onlooker?
-
Features2 days agoBrilliant Navy officer no more
-
Features6 days agoRatmalana Airport: The Truth, The Whole Truth, And Nothing But The Truth
-
Opinion2 days agoSri Lanka – world’s worst facilities for cricket fans
-
Business6 days agoIRCSL transforms Sri Lanka’s insurance industry with first-ever Centralized Insurance Data Repository
-
Business5 days agoAn efficacious strategy to boost exports of Sri Lanka in medium term
-
Features3 days agoOverseas visits to drum up foreign assistance for Sri Lanka
