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Friday March 1st, 2024

Bhutan, Nepal, Maldives support Ukraine in UN vote on Russia invasion as Sri Lanka abstains

ECONOMYNEXT – Sri Lanka has abstained from voting on a United Nations resolution on Russia’s invasion of Ukraine, along with India, Pakistan and Bangladesh while Nepal, Bhutan, the Maldives and Afghanistan voted for Ukraine.

Afghanistan had been invaded by Russia in the 1970s which eventually led to the creation of resistance groups.

Five countries opposed the resolution against the Putin’s invasion including Russia itself, Belarus, North Korea, Eritrea and Syria.

Among countries that supported Ukraine was Seychelles, Malaysia, Singapore, South Korea, Indonesia, Thailand, Timor-Liste, Japan, Philippines, Oman, Saudi Arabia, Qatar and UAE.

Cambodia and Myanmar generally considered close to China also voted for Ukraine. China itself abstained. Vietnam also abstained.

Ukraine’s neighbors, Poland, Hungary, Romania, former Soviet republics of Moldavia, Latvia, Lithuania also voted against Russia along with Western nations and North America.

Most of South and Central America and small island nations in the Pacific and Caribbean also stood with Ukraine.

The UN was started by Western nations after World War II to stop aggressive wars, stemming from an earlier League of Nations set up after World War I.

German pan nationalism had been blamed for World War II (attempt to create a glorious Empire of the past in the form of the Third Reich and partly World War I.

Ukraine had accused Putin of trying to recreate a pan-Russian Soviet Union or Russian Empire like Hitler did the third Reich.

Hitler started the war by invading Poland to supposedly rescue the oppressed German-speaking ‘irredenta’. Russia had claimed that Russian speakers were discriminated in backing break-way regions.

A Ukraine law to make Ukrainian the required language in state schools from grade 05 has upset many including neighbours as an move towards linguistic nationalism.

Western European nations have been engaging in a long term effort to stop wars in Europe starting from the Treaty of Westphalia after the so-called 80 years war. The EU promotes free trade to end economic nationalism.

Concerted efforts had been made in Western Europe to end nationalism, or at least halting chauvinists from putting their ideas into law.

The line of anti-war ‘Western’ nations had gradually spread East wards and was halted after the end of World War II. But it started to expand after the fall of the Soviet Union. (Colombo/Mar03/2022)

Comments (5)

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  1. Basil says:

    because we are asking for financial hand out from Russia 300 Mn USD, no surprise there.

  2. Dickie bird says:

    On real facts, all should have abstained except USA who are behind this fiasco using Ukraine as their Catspaw to further their expansion and hidden agenda.

  3. Prem Dhakal says:

    Who did not vote for Ukraine all of them are
    Coward country’s

  4. Prem Dhakal says:

    Who did not vote for Ukraine all of them are
    Coward country’s we have to support Ukraine this time ⏲

  5. Abigail says:

    This was very inteesting

View all comments (5)

Comments (5)

Cancel reply

Your email address will not be published. Required fields are marked *

  1. Basil says:

    because we are asking for financial hand out from Russia 300 Mn USD, no surprise there.

  2. Dickie bird says:

    On real facts, all should have abstained except USA who are behind this fiasco using Ukraine as their Catspaw to further their expansion and hidden agenda.

  3. Prem Dhakal says:

    Who did not vote for Ukraine all of them are
    Coward country’s

  4. Prem Dhakal says:

    Who did not vote for Ukraine all of them are
    Coward country’s we have to support Ukraine this time ⏲

  5. Abigail says:

    This was very inteesting

Sri Lanka’s RAMIS online tax collection system “not operatable”: IT Minister

ECONOMYNEXT – Sri Lanka’s online tax collection system RAMIS is “not operatable”, and the Ministry of Information Technology is ready to do for an independent audit to find the shortcomings, State IT Minister Kanaka Herath said.

The Revenue Administration Management Information System (RAMIS) was introduced to the Inland Revenue Department (IRD) when the island nation signed for its 16th International Monetary Fund (IMF) programme in 2016.

However, trade unions at the IRD protested the move, claiming that the system was malfunctioning despite billions being spent for it amid allegations that the new system was reducing the direct contacts between taxpayers and the IRD to reduce corruption.

The RAMIS had to be stopped after taxpayers faced massive penalties because of blunders made by heads of the IT division, computer operators and system errors at the IRD, government officials have said.

“The whole of Sri Lanka admits RAMIS is a failure. The annual fee is very high for that. This should be told in public,” Herath told reporters at a media briefing in Colombo on Thursday (29)

“In future, we want all the ministries to get the guidelines from our ministry when they go for ERP (Enterprise resource planning).”

President Ranil Wickremesinghe’s government said the RAMIS system will be operational from December last year.

However, the failure has delayed some tax collection which could have been paid via online.

“It is not under our ministry. It is under the finance ministry. We have no involvement with it, but still, it is not operatable,” Herath said.

“So, there are so many issues going on and I have no idea what the technical part of it. We can carry out an independent audit to find out the shortcomings of the software.”

Finance Ministry officials say IRD employees and trade unions had been resisting the RAMIS because it prevents direct interactions with taxpayers and possible bribes for defaulting or under paying taxes.

The crisis-hit island nation is struggling to boost its revenue in line with the target it has committed to the IMF in return for a 3 billion-dollar extended fund facility. (Colombo/Feb 29/2024) 

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Sri Lanka aims to boost SME with Sancharaka Udawa tourism expo

ECONOMYNEXT – Sri Lanka is hosting Sancharaka Udawa, a tourism industry exhibition which will bring together businesses ranging from hotels to travel agents and airlines, and will allow the small and medium sector build links with the rest of the industry, officials said.

There will be over 250 exhibitors, with the annual event held for the 11th time expected to draw around 10,000 visitors, the organizers said.

“SMEs play a big role, from homestays to under three-star categories,” Sri Lanka Tourism Promotion Bureau Chairman, Chalaka Gajabahu told reporters.

“It is very important that we develop those markets as well.”

The Sancharaka Udawa fair comes as the Indian Ocean island is experiencing a tourism revival.

Sri Lanka had welcomed 191,000 tourists up to February 25, compared to 107,639 in February 2023.

“We have been hitting back-to-back double centuries,” Gajabahu said. “January was over 200,000.”

The exhibition to be held on May 17-18, is organized by the Sri Lanka Association of Inbound Tour Operators.

It aims to establish a networking platform for small and medium sized service providers within the industry including the smallest sector.

“Homestays have been increasingly popular in areas such as Ella, Down South, Knuckles and Kandy,” SLAITO President, Nishad Wijethunga, said.

In the northern Jaffna peninsula, both domestic and international tourism was helping hotels.

A representative of the Northern Province Tourism Sector said that the Northern Province has 170 hotels, all of which have 60-70 percent occupancy.

Further, domestic airlines from Colombo to Palali and the inter-city train have been popular with local and international visitors, especially Indian tourists. (Colombo/Feb29/2024)

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Sri Lanka rupee closes at 309.50/70 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 309.50/70 to the US dollar Thursday, from 310.00/15 on Wednesday, dealers said.

Bond yields were slightly higher.

A bond maturing on 01.02.2026 closed at 10.50/70 percent down from 10.60/80 percent.

A bond maturing on 15.09.2027 closed at 11.90/12.10 percent from 11.90/12.00 percent.

A bond maturing on 01.07.2028 closed at 12.20/25 percent.

A bond maturing on 15.07.2029 closed at 12.30/45 percent up from 12.20/50 percent.

A bond maturing on 15.05.2030 closed at 12.35/50 percent up from 12.25/40 percent.

A bond maturing on 01.07.2032 closed at 12.55/13.00 percent up from 12.50/90 percent. (Colombo/Feb29/2024)

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