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Boundary issue with India is bilateral, no space for third party intervention

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China lashes out at Pompeo:

BY S VENKAT NARAYAN

Our Special Correspondent

NEW DELHI, October 28:

China said today “the boundary question is a bilateral matter between China and India,” and “there is no space for a third party to intervene.” It has accused United States Secretary of State Mike Pompeo of “repeating old lies” and “violating the norms of international relations” for his comments in New Delhi.

The Chinese Embassy here issued a strong statement in response to Pompeo’s remarks at Tuesday’s Indo-US 2+2 dialogue, which he attended along with Secretary of Defence Mark Esper, India’s External Affairs Minister S. Jaishankar and Defence Minister Rajnath Singh.

Pompeo said the U.S. “will stand with the people of India as they face threats to their sovereignty and their liberty.” He also hit out at the Communist Party of China (CPC), saying it was “no friend to democracy, the rule of law, transparency, nor to freedom of navigation, the foundation of a free and open and prosperous Indo-Pacific.”

The Chinese Embassy statement accused the U.S. of looking to “stir up confrontation among different groups and blocs and to stoke geopolitical competition.”

“China has been advocating that the development of bilateral relations between countries should be conducive to regional peace, stability and development, and not infringe upon the legitimate rights and interests of a third party,” the statement said.

“The boundary question is a bilateral matter between China and India. The two sides have been discussing disengagement and de-escalation in the border areas through diplomatic and military channels. China and India have the wisdom and ability to handle their differences properly. There’s no space for a third party to intervene.”

India and the US discussed the situation in Ladakh at the dialogue, with the eighth round of Sino-Indian Corps Commander-level talks expected to take place soon. There has been little progress towards disengagement and a return to the status quo.

China has mobilised 50,000 of its troops, and transgressed across the Line of Actual Control (LAC) in Eastern Ladakh in early May. This has forced India to mobile an equal number of its troops with matching weaponry.

On Pompeo’s remarks on the ruling Communist Party of China (CPC), the Chinese Embassy statement said he “repeated old lies, attacked and made allegations against China, violated the norms of international relations and basic principles of diplomacy, instigated China’s relations with other countries in the region, which once again exposed their Cold War mentality and ideological bias.” China “expresses its firm opposition to it,” the statement declared.

The statement also hit out at the US government for its response to the COVID-19 pandemic and accused it of “trying to shift the blame”.

“The leadership of the Communist Party of China (CPC) is a choice of history and the people,” the statement said. “This year, under the leadership of the CPC, the Chinese people have achieved strategic victory in fighting the virus. According to surveys conducted by international authoritative institutions, the Chinese people’s satisfaction and trust toward the CPC-led Chinese government exceed 90%. Anyone who turns a blind eye to the fact that the CPC is endorsed and supported by the Chinese people or wantonly slanders the CPC is openly standing on the opposite side of the Chinese people.”

“The US side once again tries to shift the blame onto China on COVID-19, which is indeed distorting facts to mislead the public,” it added. “What China has done and achieved in our fight against the virus are open for all to see. We hope US politicians could focus on their own epidemic response and saving lives instead of shifting blame on others.

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There’s nothing prescribed as Parliament has failed to enact legislation for contempt of court — Sumanthiran

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TNA MP M. A. Sumanthiran, in an intervention in Parliament, said he was privileged to appear for Ranjan Ramanayake, a clean, honest politician in the Supreme Court and he was proud of that.

Nevertheless, Ranjan Ramanayake was convicted and sentenced. The sentence of four years’ rigorous imprisonment was unprecedented and exceptionally severe, and Parliament has a responsibility in this regard because we have not enacted a law for contempt of court, the MP noted.

At the outset, he said, “I want to flag one or two issues concerning the responsibility of the Parliament in this regard. But before I do that I am bound by law and tradition to disclose my interest in the matter. I am the counsel who appeared for Hon. Ranjan Ramanayake in the Supreme Court”.

This has an implication to the article in the constitution that the Hon. Leader of the Opposition just mentioned because it says for an offense for which the prescribed punishment is two years or more. But there’s nothing prescribed, nothing prescribed in the law because for long Parliament has failed to enact legislation for contempt of court, the TNA MP said.

Although there had been in the public as well, a lot of instances where drafts have been made, we have not done that – that is one. And by failing to do that, it has been like the freedom of the wild ass; anything can be given as a sentence and that is not a good thing.  I don’t want to go into the merits of the case or anything like that, but in this case Parliament has to take steps, to enact a law, he further said.

English law is supposed to be the substantive law because we don’t have a statute law now, and in English law itself scandalizing the court is no longer an offence of contempt of court. But unfortunately the court disregarded that, and has misdirected itself – that’s my position, Sumanthiran continued.

“But I want to bring to your notice a serious lacuna in the law with regard to a statue for contempt of court that has resulted in this unprecedented injustice to an honest Member of Parliament”, he added.

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Colombo share market gallops to all time highs

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The Colombo Stock Exchange (CSE) galloped last week with the benchmark All Share Price Index (ASPI) hitting an all time high on Monday and improving on that performance on subsequent trading days to close the week at 8,463 points on Friday. The more liquid S&P Index that normally trails the ASPI also gained sharply though less so than the benchmark index.

Brokers and analysts attributed the surge to prevailing low interest rates and said that people holding funds in fixed interest instruments have seen greater potential in the stock market and have so far not been proved wrong.

“Take the case of vehicle importers,” said one businessman. “With imports disallowed, cash that would have been once used to replenish inventory becomes available for investment elsewhere. The stock market is a magnet for such funds.”

Also, many companies have resorted to a share split strategy to make their shares both more liquid and more affordable on the market.

“Take the example of a fifty-rupee share split into two. Theoretically, it should then trade at Rs. 25 a share after the split. But often it does better than that at no cost to the company that had split the share because its stated capital remains what it was,” explained and analyst.

“It’s different in the case of bonus shares or scrip issues as they are called where reserves are capitalized to pay for the new shares priced at realistic values.”

Last week the Hayleys conglomerate announced share splits in over a dozen group companies. These ranged from each share being split into ten in the parent company (Hayleys) and thriving subsidiaries like Haycarb and Dipped Products while other companies like Kingsbury split a share into two.

Brokers and analysts said that the current market surge was largely driven by the Dhammika Perera controlled Hayleys and the Ishara Nanayakkara controlled LOLC groups.

Last week Hayleys announced over a dozen share splits including in its recently acquired Singer Group companies. The majority of these involved dividing each share into two though at Singer Sri Lanka each share will be split into three.

The biggest share split ever proposed is one that is pending at EB Creasy (EBC) where each share is to be split into 100. The seldom traded EBC share is quoted at the top end of the CSE sharelist. Analysts said the massive split is intended to pump liquidity into the share and make it more affordable.

“There’s a lot of retail play in the market right now with new investors who recently took some risk doing very nicely in this bull run,” a broker said.

The CSE hit rock bottom after a seven-week closure in March last year.

 

 

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Covid-19 has now spread geographically across SL

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In small numbers to an extensive region

Pandemic situation in Western Province improves

by Suresh Perera

Though there are no big Covid-19 clusters at present, the dreaded virus has spread geographically across the country due to the unrestricted movement of people, a senior medical official said.

“The transmission of the contagion in small numbers to an extensive region was inevitable in a society which remains ‘open’ with inter-provincial travel happening on a daily basis”, says Dr. Hemantha Herath, Deputy Director of Public Health Services.

He said the spillover from the Western province was expected as there was an outflow of people to other districts particularly during the festive season.

“I am not blaming anybody, but a lockdown was not viable when taking into account the economic consequences and the livelihoods of the people. We could have imposed a curfew to restrict travel during the New Year, but we have to consider the fallout of such a measure”, he noted.

It true that geographically numbers have increased within a wide area, but the numbers are small and there are no big clusters as seen at Minuwangoda and Peliyagoda, the senior medical official explained.

Asked whether the pandemic has translated into a community spread as considerable positive cases continue to emerge on a daily basis, Dr. Herath replied, “no, that has not happened. If the Covid-19 situation was beyond control, we would have made a social and community transmission declaration”.

He said the pandemic situation in the Western province has improved with a dip in positive cases. However, the spillover is evident by the jump in figures at provincial level.

“We knew there was a risk, but we had to take it as locking down the country was not the solution

For example, if a Covid-19 patient infects two persons per day, there will be 200 positive cases within 100 days and one can imagine the critical situation that will emerge if the trend is allowed to continue, Dr. Herath continued.

“We are now managing under 1,000 cases per day”, he said, while assuring that the right mechanism is in place to identify positive cases through PCR and rapid antigen screening and place them under medical treatment, isolate and quarantine first contacts of patients”, he further said.

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