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Tuesday December 5th, 2023

Sri Lanka’s Mrs. World defends her ‘despicable’ behaviour

ECONOMYNEXT – The reigning Mrs. World, Caroline Jurie, had strongly defended her action in yanking the crown off the latest Mrs. Sri Lanka in what the organisers said was “totally unacceptable and despicable behaviour.”

In a seven-minute video statement, Jurie dramatically removes her crown saying she is ready to give it up, but stops short of actually relinquishing the title.

According to the local franchise holder of the Mrs. World competition, Chandimal Jayasinghe, Mrs. Jurie could be stripped of the title.

Jurie has a court date on April 19 when she has to defend herself against allegations of assault and damaging public property at the Neluk Pokuna performing arts theatre where the Mrs. Sri Lanka pageant was held on April 4.

“If my actions hurt the feelings of any past or current winners of international or national crowns, I do feel what you are feeling right now,” she said without apologising for forcibly removing the crown of Mrs. Sri Lanka Pushpika de Silva.

De Silva has said she is separated but not divorced.

Rules are not set for contestants to find loopholes and win at any cost, she said. She said she stepped down from the panel of judges the day before after her objections were ignored.

A mentor of the Mrs. Sri Lanka pageant, Mrs. Rosie Senanayake, who is also the first winner of the Mrs. World competition in the mid-1980s, said Jurie’s behaviour was totally unacceptable and unbecoming of a person with the title of Mrs. World.

Jayasinghe said the the California-based Mrs. World organisation was having an independent inquiry against Jurie who was also accompanied on stage by Chula Padmendra, a woman who calls herself a super model.

Both were arrested by the Cinnamon Gardens police on Thursday and released on bail with a warning to appear in court on April 19.

Senanayake said she was also appalled during the preliminary stages of the competition when Jurie insisted that only those who were fluent in English should be chosen to compete.

She said 15 out of the 20 finalists spoke only Sinhala. Senanayake said she insisted that language should not be an issue although Jurie wanted English made compulsory. Ironically, Jurie’s video message in English and subtitled in Sinhala was peppered with mistakes and she stuttered to read what appeared to be a prepared text.

Access her video here: (COLOMBO, April 10, 2021)

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Sri Lanka finding ways to clear 1.1mn pending cases: Justice Minister

ECONOMYNEXT – Sri Lanka is taking a series of steps to speed up 1.1 million pending court cases and encourage alternative dispute solving mechanisms, Justice Minister Wijedasa Rajapakshe said.

“The delay in court cases is a serious problem,” Minister Rajapakshe told a briefing at the President’s Media Centre.

“We have already taken several steps to expedite cases.”

There were 5,680 cases in Supreme Court, 4,054 in the Court of Appeal, 6,168 in the High Court of Civil Appeal, 8,363 in the Commercial High Court, 28,000 in the High Court, 254,000 in District Courts and 791,000 in Magistrates Courts.

In 2015, only 49 percent of complaints to mediation boards were resolved. Following reforms, the ratio has been increased to 70 percent.

The value of disputes going to mediation board has been raised to one million rupees from 500,000 rupees.

To solve land problems in the post-war period, special mediation boards on property was set up in the North and the East.

Mediation boards on property will be set up in another 16 districts.

Commercial High Courts were increased to four from three.

Another Commercial High Court will be set up in the future. The consideration of cases that can go to a High Court was raised from 4 million rupees to 10 million rupees.

A commercial dispute resolution law will be introduced next January.

A small claims court has been established.

Case involving disputes below 2 million rupees can be directed to small claims court.

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Sri Lanka stocks close up as some investor interest returns

ECONOMYNEXT – The Colombo Stock Exchange closed up on Monday, CSE data showed.

The All Share Price Index was up 0.22 percent, or 23.33 points, at 10,743.59.

The S&P SL20 index was up 0.68 percent, or 20.60 points, at 3,067.73.

Turnover was at 708 million. The banks sector contributed 189 million, while the food, beverage and tobacco sector contributed 176 million of this.

Sri Lanka’s stock market has seen some investor interest return after last week’s news that the country had managed an agreement on a debt restructuring deal with an official creditor committee, and foreign funds for some development projects resumed.

Top positive contributors to the ASPI in the day were Sampath Bank Plc (up at 71.50), LOLC Holdings Plc (up at 379.00), and Commercial Bank of Ceylon Plc, (up at 90.90).

There was a net foreign outflow of 52 million.

Citrus Leisure Plc, which announced that its banquet hall and revolving restaurant at the Lotus Tower would launch on or around Dec 9, saw its share price rise to 6.20 rupees. (Colombo/Dec4/2023).

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Sri Lanka rupee closes broadly steady at 328.10/30 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 328.10/30 to the US dollar on Monday, from 328.00/10 on Friday, dealers said.

Bond yields were stable.

A bond maturing on 01.06.2025 closed at 13.70/14.00 percent from 13.70/95 percent.

A bond maturing on 01.08.2026 closed at 13.90/14.10 percent from 13.90/14.05 percent.

A bond maturing on 15.01.2027 closed at 14.00/14.10 percent from 14.05/10 percent.

A bond maturing on 01.07.2028 closed at 14.20/35 percent from 14.15/25 percent.

A bond maturing on 15.05.2030 closed at 14.25/45 percent, from 14.20/45 percent.

A bond maturing on 01.07.2032 closed at 14.05/40 percent, from 14.00/45 percent. (Colombo/Dec4/2023)

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