CSE News Updates

Sri Lanka stocks close down 0.1-pct June 19, 2014 (LBO) - Sri Lanka's stocks closed 0.07 percent lower with index heavy John Keells Holdings losing ground despite net foreign buying, brokers said.The Colombo benchmark All Share Price Index closed 4.41 points lower at 6,313.20, down 0.07 percent. The S&P SL20 closed 8.82 points lower at 3,490.67, down 0.25 percent.

Turnover was 683.59 million rupees, down from 713.88 million rupees a day earlier with 67 stocks closed positive against 106 negative.

Foreign investors bought 248.45 million rupees worth shares while selling 142.52 million rupees worth shares.

Index heavy John Keells Holdings closed 5.00 rupees lower at 222.10 rupees, contributing most to the index drop for the second consecutive day while attracting most number of trades during the day.

The diversified conglomerate also had three off-market transactions of 102.39 million rupees changing hands at 233.20 rupees per share contributing 15 percent of the daily turnover.

JKH’s W0022 warrants closed 90 cents lower at 59.10 rupees and its W0023 warrants closed 40 cents lower at 69.10 rupees.

Commercial Bank closed 30 cents higher at 135.00 rupees with market transactions of 103.58 million rupees changing hands at the same price per share contributing 15 percent of the turnover.

Ceylon Tobacco Company closed 5.00 rupees lower at 990.00 rupees and Nestle Lanka closed 52.00 rupees higher at 1,975.00 rupees.

Hayleys closed 6.80 rupees lower at 292.20 rupees and Dialog Axiata closed 20 cents higher at 10.40 rupees.

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Sri Lanka Muslims cut back Friday prayers after unrest COLOMBO, June 20, 2014 (AFP) - Sri Lanka's Muslim minority held shortened Friday prayer services as religious tensions gripped the island after clashes with hardline Buddhists killed four people, an official said.The Muslim Council of Sri Lanka (MCSL) said Islamic clerics instructed mosques to conduct shorter services and asked the faithful to disperse peacefully after lunchtime prayers.

"The Ulamas (scholars) asked mosques to ensure shorter sermons and in some places they started prayers earlier than on other Fridays," MCSL President N. M. Ameen told AFP.

He said there were no incidents reported although the police had anticipated trouble after Friday prayers and stepped up security in the capital and elsewhere.

Muslim-owned businesses shut down in Sri Lanka's capital on Thursday to protest against deadly riots by extremist Buddhists, defying President Mahinda Rajapakse's plea to stay open.

Shops and restaurants in central Colombo were shuttered following the riots in two mainly Muslim coastal resorts that killed four people and saw hundreds of homes and businesses set on fire.

The Muslims were protesting against the Buddhist Force, or BBS, and the police failure to protect their minority community which accounts for about 10 percent of the 20 million population.

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Sri Lanka parliament rejects UN war probe COLOMBO, June 18, 2014 (AFP) - Sri Lanka's parliament Wednesday rejected a UN-mandated investigation into alleged war crimes while crushing separatist Tamil rebels five years ago.Ruling party lawmakers voted overwhelmingly to resist a probe by the Office of the United Nations High Commissioner for Human Rights in line with a US-initiated censure move in March.

The parliament said "the probe should not be carried out on the ground that such a course of action is detrimental to the process of reconciliation and peace."

The government of President Mahinda Rajapakse, which enjoys a two-thirds majority in the 225-member assembly, said the UN probe also "erodes the sovereignty, dignity and stature of Sri Lanka."

President Rajapakse himself had earlier rejected the UN probe into charges that up to 40,000 ethnic Tamil civilians were killed by security forces while crushing Tamil separatists in May 2009.

Two opposition parties drawing their support from the majority Sinhalese community said they too would not support the UN inquiry, but insisted that Colombo set up a domestic process to probe the allegations.

The Sri Lankan parliament's rejection is not binding on the United Nations Human Rights Council. However the rejection is more a symbolic move that underscores Colombo's hardline attitude towards the UN rights body.

International rights groups say rights abuses continue in Sri Lanka even after the end of a decades-old separatist war that claimed at least 100,000 lives, according to UN estimates.

Colombo strongly denies that its troops killed any civilians, but instead says the defeated Tamil Tiger guerrillas used non-combatants as a human shield.

Rights groups have accused both sides of targeting civilians.

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"As far as we are concerned we recognize the right of the Vietnamese government to claim these islands," Communist Party chief Raja Collure told a meeting of the Sri Lanka Vietnam Friendship Association in Colombo.

"We cannot in the present circumstance partake in the dispute. The dispute has to be resolved through peaceful negotiations. And any action that impedes a peaceful solution cannot be condoned."

Collure said Communist Parties of both countries had friendly relations with his party.

China is claiming land around the Paracel Islands, in the South China Sea, or the East Sea as Vietnam calls it.

China sent an oil rig to the disputed waters and a fleet of ships to protect it last month. At least one unarmed Vietnamese fishing vessel has been rammed by a Chinese ship, the smaller country has said.

"China has once again endangered the security and stability in the East Sea region by the repetition of its military coercion and brinkmanship against Vietnam," Hanoi envoy to Colombo Ton Sinh Thanh said.

"To protect their illegal activities in the East Sea, China deploys a large number of vessels, including military ships and aircraft around the oil rig."

He said the rig was 120 miles off the coastline of Vietnam and was 80 miles inside Vietnam's exclusive economic zone.

Lawyers M A Rizwi and Premadara Dissanayake said under the United Nations Convention on the Law of Sea (UNCLOS) the islands were clearly within the economic zone of Vietnam.

Sri Lanka was currently facing situation where Tamil Nadu state in India, a much more powerful neighbor was making statements about the Kachchathivu islands, where the territory had already been resolved through a treaty.

"If the island is taken by force by India, if they send large ships, we will be in the same situation as Vietnam, Dissanayake said.

"If that happens we will have to resorting to International law is our only option. We will be helpless. So there has to be a voice against it."

Sri Lanka's government position is that the issue must be resolved bi-laterally.

China is also disputed claims with other nations around the South China Sea including Philippines, Japan and Malaysia involving other islands in the same sea, such as the Spratlys.

The Paracel Islands were uninhabited and China cannot claim exclusive economic zones out of the island's under accepted law, lawyers said.

China has claimed that they had been in some of the islands since 1950s.

In 1974, China had occupied the rest of the islands taking it from South Vietnam, when the Communist North was at war with the South, which was then backed by the United States.

But military occupation is longer a claim to territory, under international law.

On the other hand the disputed waters were clearly within 200 miles of the Ly Son island, which was inhabited and undisputedly Vietnamese territory. It was used as a radar station by the US during the Vietnam War.

Lawyer Rizwi said China was clearly violating international law and it could show evidence going back into the 19th century.

When Vietnam was under French rule in 1898, the then French Governor had started building a lighthouse on Paracel showing clearly that Vietnam had clear possession of the islands for centurie, Rizwi said.

"China has entered Vietnam's exclusive economic zone and is engaging activities," S Sudasinghe, Secretary General of Sri Lanka - Vietnam Friendship Association said.

"Both of these countries are friendly to our country. What we say is to act according to international law and to act without harming regional and world peace and solve the problem though peaceful means."

He said unless it was solved through negotiations the road was being made for the United States, the 'world policemen' to enter the dispute.

The US has already called on China to withdraw the oil rigs.

China is believed to be claiming the area due to the possibility of oil and also because it is an important shipping lane carrying oil and cargo to and from China and the rest of East Asia.

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Electronic part makers from Japan eye Sri Lanka June 19, 2014 (LBO) - A group of Japanese electronic component makers have visited Sri Lanka to look at the possibility of setting up factories in the island, the state investment promotion agency said.A delegation from Japan Electronics and Information Technology Industries Association (JEITA).

The companies were evaluating alternative manufacturing locations as part of a 'China +1' strategy of diversifying overseas production facilities, Sri Lanka's Board of Investment said.

The delegation was brought by Nihal Trading Company.

The BOI had presented them opportunities to set up plants in industrial zones in Suriyawewa and Mirijjawila in the Hambantota district.

Japanese component makers including FDK group are already in Sri Lanka.

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Sri Lanka IT industry to collaborate with universities online June 19, 2014 (LBO) - Sri Lanka's information technology sector is setting up an online portal to collaborate with universities, academics and students, an industry chamber said.Sri Lanka Association of Software and Service Companies (SLASSCOM), an industry body said its 'Campus Direct Link' will allow universities and industry to collaborate on projects and for industry practitioners to mentor students.

The portal was developed by IFS R &D International (Pvt) Ltd, a member firm of the chamber.

"The portal has been designed based on state-of-the-art social computing concepts to keep everyone connected together…" SLASSCOM said.

Companies, academics, undergraduate and post graduates students could be linked to the system.

Exports of IT and knowledge services had reached an estimated 720 million US dollars in 2013 and a billion dollars in revenue is expected by 2016.

SLASSCOM says the industry want to reach 5 billion US dollars in revenue and create 200,000 direct jobs and 1,000 start ups by 2022, for which active collaboration with the academia is needed.

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Liverpool striker Suarez grabbed the second of two opportunistic goals in the 85th minute of a tense Group D battle in Sao Paulo after Wayne Rooney had looked to have rescued a point for England with a 75th-minute equaliser.

The defeat leaves England, beaten 2-1 by Italy in their opening match, needing a miracle if they are to reach the second round of a World Cup, something they have not failed to do since 1958.

"We are more then disappointed, we're devastated," England manager Roy Hodgson said after the loss, describing his side's chances of remaining in the tournament as "unbelievably slim."

"To be sure of continuing we needed a result today, a draw or a victory, and we didn't get it," he added.

Suarez -- named English football's player of the year after a superb season for Liverpool -- had been a doubt for the World Cup after undergoing knee surgery in May.

However the 27-year-old returned to haunt an England side containing five of his Liverpool team-mates.

"Yes, I dreamed of this," Suarez said. "It was something I imagined many times, but I had to calm myself down."

With both teams knowing that a defeat would likely prove fatal to their chances of progressing to the last 16, the game started cautiously.

But England's inability to retain possession looked likely to gift Uruguay an opening, and so it proved.

Loose play from England captain Steven Gerrard saw Uruguay break swiftly, with Nicolas Lodeiro releasing Edinson Cavani down the left.

The Paris Saint-Germain striker delayed his cross to perfection, leaving Suarez, who had ghosted clear of Phil Jagielka, to head back past wrong-footed England goalkeeper Joe Hart.

With England struggling to break Uruguay down for much of the second half, Suarez's opener looked to be enough.

But 15 minutes from time Rooney tapped in his 40th international goal, and his first at a World Cup, after a low Glen Johnson cross to reignite their challenge.

England had looked the likelier to score thereafter, but five minutes from time the ball broke to Suarez off Gerrard and the striker raced clear.

The Liverpool man glanced up and then unleashed a ferocious shot into the roof of the net.

Uruguay's victory leaves England needing Italy to beat both Costa Rica on Friday and the Uruguayans next Tuesday.

England would then need to beat Costa Rica in their final game to have any chance of qualifying on goal difference.

- Colombia on course -

Earlier Thursday, Colombia maintained South America's strong start to the tournament with a 2-1 win over Ivory Coast, which saw them guaranteed a place in the last 16 from Group C.

A day after Chile eliminated defending champions Spain, Colombia produced another fine attacking display to down the powerful Ivorians in a free-flowing contest at Brasilia's National Stadium.

Second-half goals from Monaco starlet James Rodriguez and Juan Quintero fired Colombia into the lead before Roma striker Gervinho pulled one back for the Ivorians to set up a tense finish.

Colombia, making their first appearance at the World Cup since 1998, sealed their second round berth later Thursday after Japan and Greece played out a dour 0-0 draw in Natal.

The result means Japan and Greece must win their final matches against Colombia and Ivory Coast respectively to have any chance of going through.

Japan coach Alberto Zaccheroni was unhappy at his side's inability to make Greece pay following the dismissal of their captain Konstantinos Katsouranis on 38 minutes.

"We're not happy at this stage of the tournament. We pushed hard to win the game. We do have one match to play, but right now I'm not happy at all," Zaccheroni said.

"We had a lot of possession, had a lot of chances, and we didn't capitalise on them."

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