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Showers in Western, Sabaragamuwa, Southern, Uva, Central, North-western and North-central provinces and in Mannar district

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Weather forecast issued at 05.30 a.m. on 08 April 2023 by the Department of Meteorology

Showers or thundershowers will occur at several places in Western, Sabaragamuwa, Southern, Uva, Central, North-western and North-central provinces and in Mannar district during the afternoon or night. Fairly heavy showers above 50mm are likely at some places in above areas.

Showers or thundershowers can be expected in Western and Southern provinces in the morning too.

Winds will be Easterly or variable in direction and wind speed will be (20-30) kmph.

General public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.



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Sun directly overhead Kahawa, Meetiyagoda, Elamaldeniya, Ambakolawewa and Bundala at about 12:13 noon today (05th)

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On the apparent northward relative motion of the sun, it is going to be directly over the latitudes of Sri Lanka from 05th to 14th of April  this year.

The nearest areas of Sri Lanka over which the sun is overhead today (05th) are Kahawa, Meetiyagoda, Elamaldeniya, Ambakolawewa and Bundala at about 12:13 noon.

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Worst week for US stocks since Covid crash as China hits back on tariffs

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[pic BBC]

Stock market turmoil deepened on Friday, as China hit back at tariffs announced by US President Donald Trump, raising the likelihood of an extended trade war and damage to the global economy.

All three major stock indexes in the US plunged more than 5%, with the S&P 500 dropping almost 6%, capping the worst week for the US stock market since 2020.

In the UK, the FTSE 100 plunged almost 5% – its steepest fall in five years, while Asian markets also dropped and exchanges in Germany and France faced similar declines.

Trump, who has vowed to remake the global trade order, dismissed concerns about the market shock, noting that the US labour market is strong.

“Hang tough,” he urged his followers on social media. “We can’t lose.”

The global stock market has lost trillions in value since Trump announced sweeping new 10% import taxes on goods from every country, with products from dozens of countries, including key trading partners such as China, the European Union and Vietnam, facing far higher rates.

Analysts say the moves, some of which are due to go into effect as soon as Saturday, amount to the biggest tax increase in the US since 1968.

They expect the measures to lead to a contraction in trade, and have warned they could drive many countries into an economic recession.

China responded to Trump on Friday by hitting US goods with import taxes of 34%, curbing exports of key minerals and adding American firms to its blacklist, describing Trump’s actions as “bullying” and a violation of international trade rules.

Other countries appear to be hoping they will be able to negotiate deals, despite conflicting signals from the White House about its appetite for talks.

Maroš Šefčovič, the trade commissioner for the EU, which has been planning to retaliate, said on Friday that he had had a “frank” two-hour exchange with US officials, and wrote on social media the trade relationship needed a “fresh approach”.

“The EU’s committed to meaningful negotiations, but also prepared to defend our interests,” he said. “We stay in touch.”

Trump’s moves are consistent with promises he made on the campaign trail last year.

But they were more far-reaching than some analysts had expected, triggering the worst week for the stock market since 2020, when the Covid-19 pandemic led to global shutdowns and other disruption.

The sell-off started with firms such as Apple and Nike, which rely heavily on suppliers in Asia. But on Friday, it moved into sectors that would typically not face the direct impact of tariffs, such as consumer staples, healthcare and utilities.

“Candidly the mood is pretty sour and it should be,” said Mike Dickson, head of research and quantitative strategies at Horizon Investments in the US, warning that it will take weeks to understand the impact of Trump’s tariffs.

[BBC]

 

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We are working to stabilize and restructure an economy that was in disarray -President

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The National New Paddy Harvesting Festival (Aluth Sahal Mangalya), a traditional annual ceremony of offering the first portion of the freshly harvested Maha season paddy to the sacred Sri Maha Bodhi, was held this morning (04) under the patronage of President Anura Kumara Disanayake at the historic Sri Maha Bodhi premises in Anuradhapura.

The ceremony was organized by the Ministry of Agriculture and the Department of Agrarian Services under the theme “In unison, let us cultivate the land, to build a self-sufficient nation” (අහරින් ස්වයංපෝෂිත දැයක් තනන්නට එක මිටට ගොවි බිමට), following the guidance of the Atamasthanadhipathi, the most Venerable Pallegama Hemarathana Nayaka Thera.

This ritual, which dates back to the era of ancient monarchs, saw the participation of farmers from across the country. In accordance with tradition, they prayed for timely rains and fertile fields and invoked blessings for a self-sufficient and prosperous economy through agriculture.

President Anura Kumara Disanayake first paid homage and received blessings from the sacred Jaya Sri Maha Bodhi before joining the ceremonial proceedings.

The sacred procession, which carried the newly harvested paddy from near the historic Sinha Kanuwa in Anuradhapura, arrived at the sandy courtyard (වැලි මලුව) of the Sri Maha Bodhi, marking the ceremonial commencement of the New Paddy Harvest Festival.

The Most Venerable Pallegama Hemarathana Nayaka Thera commenced the ritual by filling the golden bowl with the new paddy, after which representatives from all provinces added paddy from their respective regions, symbolically filling the golden bowl.
President Anura Kumara Disanayake also participated in this ritualistic moment, amidst the chanting of Pirith by the Maha Sangha.

A vessel of pure bee honey, traditionally offered to the Sri Maha Bodhi, was ceremonially presented to the President by Deputy Leader of the Vedda Community U.W.  Bandiyala Eththo.

The vessel of ghee, brought from the historic Saman Devalaya in Sabaragamuwa, was also presented to President Anura Kumara Disanayake, to be used in the customary ghee offering at the Sri Maha Bodhi.

The President also received the commemorative plaque of the National New Paddy Harvest Festival and presented tokens of appreciation to farmer leaders who have made significant contributions to the development of the country’s agriculture sector.

As part of the initiative to secure a pest-free harvest, the President participated in the distribution of pest-resistant seed paddy to farming communities across the provinces.

Addressing the subsequent official ceremony, President Anura Kumara Disanayake stated that the current government is working to transform an economy that was in disarray. He noted that the Paddy Marketing Board is burdened with a debt of Rs. 28 billion, while harvested paddy is being left to spoil in storage.

The President emphasized that the current administration has accepted the responsibility of restoring and restructuring this disorderly system. He added that the government expects the support not only of the state machinery related to agriculture but also of all farming communities. He affirmed the intention to integrate Sri Lanka’s cultural and traditional systems to reclaim the legacy of the agricultural economy and thereby strengthen the national economy.

President Disanayake further stated that the country’s ancient kings achieved greatness through their contributions to agriculture and irrigation and that self-sufficiency in food was a critical factor in that success.

He highlighted that sustainable development has become a global discourse today and that Sri Lanka’s “Tank Cascade System” or “Vapi System,” stands as a remarkable example of sustainable development. The country’s irrigation system, which dates back nearly 2,000 years, continues to contribute to the advancement of agriculture even today.

As such, the government has allocated Rs. 2 billion in the current budget to rehabilitate the irrigation system and renovation work on the North Central Maha Ela Project has already commenced to revitalize the country’s agricultural industry. He added that the government also plans to develop seed farms to produce self-sufficient seeds, while protecting genetic ownership.

He further emphasized the need for fair prices for agricultural produce, both for farmers and consumers. Due to long-standing market distortions, the government will intervene over the next two to three harvesting seasons to ensure both parties receive fair prices.

The President also stated that the necessary provisions for such state interventions have been made in the current budget. Steps have been taken to create storage capacity to hold 300,000 metric tons of paddy, which is expected to mitigate market distortions going forward.

Among those present at the occasion were the Chief Incumbent of the Ruwanweliseya and Chancellor of the Rajarata University, Most Venerable Ithalawetunuwewe Gnanatillake Thera, the Chief Incumbent of the Lankaramaya, Most Venerable Ralapanawa Dhammajothi Thera and members of the clergy; Minister of Agriculture, Livestock, Lands and Irrigation K.D. Lalkantha; Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe; Governor of the North Central Province Wasantha Kumara Wimalasiri; and Deputy Minister of Agriculture and Livestock Namal Karunaratne, along with a large number of farmer leaders and other dignitaries.

  1. (PMD)
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