Central Bank’s Monetary Policy Review: Is there a hidden macroeconomic anomaly?

The monthly monetary policy review-September 29, 2014 
The Central Bank issued its monthly Monetary Policy Review on 23 September 2014 (available at 

http://www.cbsl.gov.lk/pics_n_docs/02_prs/_docs/press/press_20140923e.pdf) Monetary Policy Review, September 2014). The statement has presented an analysis of developments which the Bank has identified as beneficial to Sri Lanka before announcing the policy change which it has introduced in the month.

Central Bank’s Monetary Policy Review is There a Hidden Macroeconomic Anomaly by Thavam

Motion to restrict powers angers President

SUNDAY, 28 SEPTEMBER 2014 

The motion to restrict powers of the President and the number in the cabinet presented to Parliament in April as a private member’s bill, with guidance from SLFP seniors, by UPFA Gampaha District parliamentarian Wasantha Senanayaka and was to be debated on the 25th has been withdrawn by the Member himself.

The motion had contained that the cabinet should be cut down to 30 members and the President should hold only the defense portfolio. It is reported that the President had vehemently opposed the motion.

At the cabinet meeting the President had talked against the motion with a rage and the relevant Parliamentarian had been called to Temple Trees, reprimanded and had been asked him to withdraw the motion immediately.

Political analysts say the people in the country have paid attention to reducing the number of ministers in the cabinet and powers of the President. SLFP seniors and various individuals in the country have expressed views that the government cannot go forward without listening to the people and pointed out that the present government came to power promising to abolish executive presidency.

‘Up next is partaking of meal & engaging in of transactions’

Sunday, 28 September 2014 

According to the Sinhala tradition, the ‘partaking of the meal and engaging in transactions’ take place as part of Sinhala New Year traditions in the month of Bak. But, that tradition took place untimely, on September 25, at Gregory Road in Colombo 07 – at the opening of an office for the presidential election campaign.

The announcer announced “up next is the partaking of the meal and the engaging in of transactions.” Participants looked at each other questioningly. Chief guest, economic development minister Basil Rajapaksa, leaving aside the partaking of the meal, entered an inside room with a smile. Following him with a parcel containing cash in his hands was Access International chairman Sumal Perera. Only then those present understood what it was all about. In ones and twos, they followed suit and went into the room to hand over parcels containing cash they had brought along with them. One of them said after coming out, “giving only, no receiving.”

Several secret agents of son Namal were there to spy on uncle Basil to find out what he was up to while the father was away. They had fulfilled their task to the maximum, Basil came to know, only after websites carried what had happened at that particular function.

Basil blames Dullas for Uva setback!

Sunday, 28 September 2014 

Topmost figures of the Rajapaksa regime are on a post-mortem examination of their setback at the Uva provincial council election and are expressing various opinions.

From among them, economic development minister Basil Rajapaksa says the government spoiled it all due to its having accepted advice from minister Dullas Alahapperuma. According to him, the election for Uva was to take place along with elections for western and southern provincial councils on a single day. Basil says the president was given a dead-rope by Dullas to hold the Uva polls separately as the government secured a 72 per cent of votes at the 2009 election there.

When the president sought Basil’s views regarding that, he said, “our man (Shashindra) has done no service at all at the provincial council. What he did was to collect money at the Devale tills. If we hold the election separately by placing trust on him, we will be in a very difficult spot.” But, the president has accepted what Dullas has said. But, it has now been proven that what Basil has said was the truth.

மாமாவை கொலை செய்த இராணுவ மருமகன்…

September 27, 2014

கினிகத்தேனை பொலிஸ் பிரிவிற்குட்பட்ட ரஞ்ஜூராவ பிரதேசத்தில் ஒரகட வீதியில் நான்கு பிள்ளைகளின் தந்தை ஒருவர் கூரிய ஆயுதத்தால் வெட்டி கொலை செய்யப்பட்டுள்ளதாக கினிகத்தேனை பொலிஸார் தெரிவித்தனர்.

26.09.2014 அன்று இரவு 7.30 மணியளவில் ரஞ்ஜூராவ பிரதேசத்தில் ஒரகட வீதியில் இருக்கும் இவரின் வீட்டில் இச்சம்பவம் இடம்பெற்றுள்ளதாகவும் இவ்வாறு உயிரிழந்தவர் லொக்குஹேவாகே குலதாஸ (வயது 57) நான்கு பிள்ளைகளின் தந்தை என அடையாளம் காணப்பட்டுள்ளார். குடும்ப பிரச்சினையால் ஏற்பட்ட கைகலப்பில் உயிரிழந்த நபரின் நான்காவது மகளை திருமணம் முடித்த மருமகனே இவ்வாறு கொலை செய்ததாக கினிகத்தேனை பொலிஸார் மேலும் தெரிவித்தனர்.

சந்தேக நபர் ஏற்கனவே இராணுவத்தில் இருந்ததாகவும் அதிலிருந்து தப்பி வந்தவர் என பொலிஸாரின் ஆரம்பகட்ட விசாரணைகளின் இருந்து தெரியவந்துள்ளது. சந்தேக நபரை கைது செய்ததாகவும் 27.09.2014 அன்று சந்தேக நபரை ஹட்டன் நீதிமன்றத்தில் ஆஜர்ப்படுத்த நடவடிக்கைகள் எடுக்கப்பட்டுள்ளதாகவும் கினிகத்தேனை பொலிஸார் தெரிவித்தனர். இச்சம்பவம் தொடர்பான மேலதிக விசாரணைகளை கினிகத்தேனை பொலிஸார் மேற்கொண்டு வருகின்றனர்.

         

மாமாவை கொலை செய்த இராணுவ மருமகன்… by Thavam

President Barack Obama Does Not Speak For God

A Lesson on Good and Evil for Western Civil-Military Leaders

| by John Stanton

( September 28, 2014, Virginia, Sri Lanka Guardian) Who in the world is Barack Obama to claim that “No God” would allow the Islamic State to exist and slaughter what it considers to be non-believers? His statement follows the same line of transgression committed by Bill Clinton and George W. Bush in their baleful appeals to God and Christ, even as they approved and presided over operations leading to torture, rape, murder and the wounding of large swaths of humanity. And this sinful vanity— the claim to know God’s Will, is precisely the sin that the Islamic State’s Caliph, the House of Saud, the Vatican, the Church of England and all stripes of religious sects worshiping Prophets/Gods from Yahweh to Zoroaster make each and every day in the name of “good.”

Let us turn to the Russian author of Life and Fate, Vasily Grossman, for a lesson on good and evil as the civil-military leaders of the 21st Century Western world appeal to their Gods to sanction suffering, censure, torture, murder and the creation of gulags large and small.

President Barack Obama Does Not Speak for God by Thavam

ஜெயலலிதாவுக்கு 4 ஆண்டுகள் சிறை: நீதிபதி குன்ஹாவுக்கு ராம் ஜெத்மலானி கண்டனம்!

Posted Date : 13:48 (28/09/2014

புதுடெல்லி: ஜெயலலிதாவுக்கு 4 ஆண்டுகள் சிறை தண்டனை விதித்த நீதிபதி குன்ஹாவுக்கு வழக்கறிஞர் ராம் ஜெத்மலானி கண்டனம் தெரிவித்துள்ளார்.

சொத்துக்குவிப்பு வழக்கில் ஜெயலலிதாவுக்கு பெங்களூர் சிறப்பு நீதிமன்றம் 4 ஆண்டு சிறை தண்டனையும், 100 கோடி ரூபாய் அபாரதமும் விதித்து தீர்ப்பளித்தது. இந்த தீர்ப்புக்கு மூத்த வழக்கறிஞரான ராம் ஜெத்மலானி கடும் கண்டனம் தெரிவித்துள்ளார்.

இதுகுறித்து அவர் கூறும்போது, ''ஜெயலலிதாவுக்கு இந்த தீர்ப்பை வழங்கியதன் மூலம் நீதிபதி குன்ஹா, நீதித்துறையில் மிகப்பெரிய தவறை செய்துவிட்டார். சட்டப்படி இந்த தீர்ப்பு வழங்கப்படவில்லை. அபாராதம் விதித்ததில் குன்ஹா நீதிக் கோட்பாடுகளை மீறிவிட்டார்.

ஊழல் தடுப்பு சட்ட விதிகளின்படி இந்த தீர்ப்பு வழங்கப்படவில்லை. ஜெயலலிதாவின் அரசியல் எதிரிகள் வேண்டுமானால் இந்த தீர்ப்பை ஏற்கலாம். ஆனால், இந்திய அரசியல் அமைப்பு சட்டத்தின் வழக்கறிஞர் என்ற முறையில் இந்த தீர்ப்பை எதிர்க்கிறேன். மேலும், உச்ச நீதிமன்றத்தின் வழிகாட்டுதலுக்கு ஏற்ற இந்த தீர்ப்பு வழங்கப்பட்டுள்ளதா? என்று ஆழமாக பரிசீலிக்க வேண்டி உள்ளது" என்று கூறி உள்ளார்.

Jethmalani to appear for Jayalalithaa

LEGAL CORRESPONDENT

September 28, 2014 

The senior lawyer is flying back from London to represent AIADMK leader in the disproportionate assets case

Senior lawyer Ram Jethmalani is flying back from London to represent AIADMK leader Jayalalithaa, who has been convicted in the disproportionate assets case, in the Karnataka High Court, his office said on Sunday.

The senior advocate will reach India by Monday.

The High Court will then be moved for suspension of her sentence and bail.

Jayalalithaa to file appeal today

Sheela Balakrishnan, advisor and former Chief Secretary in Bangalore on Sunday. Photo: K. Bhagya Prakash

Legal team aims to get sentence suspended, conviction stayed

SRUTHISAGAR YAMUNAN

September 29, 2014 

AIADMK general secretary Jayalalithaa’s lawyers will file an appeal on Monday against the special court verdict sentencing her to four-year simple imprisonment in a disproportionate assets case and also seek her release on bail.

AIADMK Rajya Sabha Member A. Navaneethakrishnan told The Hindu that a bail application would be moved in the Karnataka High Court. However, since the High Court was on vacation, the application may be taken up by a vacation bench on Tuesday.

Her lawyers held a marathon meeting here on Sunday preparing the grounds of appeal against the trial court order which disqualified Ms Jayalalithaa as an MLA and cost her the position of Tamil Nadu Chief Minister. The legal team discussed options to get the sentence suspended and the conviction stayed, party sources said. According to sources, senior Supreme Court advocate Ram Jethmalani is likely to join the defence team.

Meanwhile, an advocate in the prosecution team said the State would oppose applications seeking stay on the sentence and conviction.

“When a bail application is made, the High Court will order notices to the State. If they move an application seeking stay on conviction, the State will oppose it,” he said on condition of anonymity.

Legal experts say a stay on the conviction is deemed necessary to get her disqualification suspended. While the Supreme Court has said in many cases that the appellate court has the power to suspend both the sentence and conviction, it laid down in 2001 that when a public servant has been convicted for corruption, the conviction should not be stayed during the pendency of an appeal.

The long road to justice

September 28, 2014 

The conviction of Tamil Nadu Chief Minister Jayalalithaa in the disproportionate assets case by a Special Court in Bangalore is a significant vindication of a vital constitutional principle — that the rule of law be upheld for all citizens including persons in high public office. Too often have members of the political class managed to get away with the abuse of power, betraying the trust of the people who voted them to office. Ms. Jayalalithaa is the first serving Chief Minister to be convicted under the Prevention of Corruption Act; before her only a handful of political leaders have had to face jail terms in corruption cases. But this conviction did not happen as a matter of ordinary legal course. At every stage, attempts were made to obstruct and delay the judicial process. It is commendable that the prosecution and the judges involved in this case stood up to the pressures and upheld the principles of justice and fairness. The case was moved to Bangalore in 2003 after the Supreme Court found several attempts to subvert the trial during Ms. Jayalalithaa’s earlier term starting in 2001. Yet, despite the protracted and tortuous course that the legal process took in this case, justice seems to have been finally done.

However, more important than bringing to justice persons abusing public office is establishing systemic checks to prevent abuse of power and influence-peddling. In the last two years or so, there has been a popular upsurge against corruption in high places. While Parliament was forced to take steps to put in place a national anti-corruption institution, the Lok Pal, the judiciary has taken the lead in this regard. But the time taken for the completion of this marathon trial — 18 years — is too long even for a case of this magnitude. To deal with corruption in public life, the country’s requirements are two-fold: a more effective legal framework to prevent the abuse of power, and procedural reform that would limit the duration of cases without adversely affecting the right of the accused to a fair trial. Saturday’s verdict has had some unfortunate repercussions. Incidents of violence were reported from several parts of Tamil Nadu. Whoever succeeds Ms. Jayalalithaa as Chief Minister of Tamil Nadu must show statesmanship and political maturity, and ensure the maintenance of law and order without allowing AIADMK party cadre to spill their rage on the streets, directing violence at public property and ordinary citizens. Extra precautions must be taken to prevent any violence escalating into attacks on Kannadigas on account of the verdict being delivered by a court situated in Karnataka. Ms. Jayalalithaa still has avenues for appeal open to her, and Tamil Nadu should not be allowed to descend into a spiral of violence and destruction.

The Republic of the Marshall Islands v. The Republic of India: Negotiations on Nuclear Weapons

By Dr. Parasaran Rangarajan-Dated 25-Sept-2014

Earlier this year, the Marshall Islands filed a case at the International Court of Justice (ICJ) against India, United Kingdom[1], and Pakistan[2] for failure to engage in their obligation as a state under customary international law towards negotiations which would end their nuclear programmes[3].

The Republic of the Marshall Islands v. the Republic of India Negotiations on Nuclear Weapons by Thavam

Insight - Russian suspicions of U.S. motives in Syria make cooperation unlikely

A soldier loyal to Syria's President Bashar Al-Assad walks in Adra al-Omalia, after taking control of the area from rebel fighters September 25, 2014.

BY LESLEY WROUGHTON AND MATT SPETALNICK-NEW YORK/WASHINGTON Sun Sep 28, 2014

(Reuters) - The United States and Russia see Islamic State as a common enemy but are failing to overcome deep mutual distrust and agree on how to tackle the threat together, making any role for Moscow in the U.S.-led campaign unlikely, say U.S. officials.
Insight - Russian Suspicions of U.S. Motives in Syria Make Cooperation Unlikely by Thavam

In Latvia, fresh fears of aggression as Kremlin warns about Russian minorities

U.S. soldiers drive a Stryker armored personal carrier during NATO's Steadfast Javelin II military exercise in Lielvarde, Latvia, Sept. 6 , 2014. Hundreds of soldiers, vehicles and aircraft from nine countries took part in a NATO military exercise on the alliance's eastern front. (Valda Kalnina/EPA)

By Michael Birnbaum September 27 at 9:13 PM

RIGA, Latvia — As top Kremlin officials have sounded ominous new warnings that they will defend ethnic Russians wherever they live, Latvia, the NATO nation with the highest proportion of Russians, is feeling like it is in the crosshairs.
In Latvia, Fresh Fears of Aggression as Kremlin Warns About Russian Minorities by Thavam

Thirty feared dead in Japanese volcano eruption

SUNDAY 28 SEPTEMBER 2014

Hundreds of people including children are stranded on Mount Ontake when it erupts, with more than 30 people feared dead as ash pours two miles down the volcano's side.

Sudden eruption

Thirty Feared Dead in Japanese Volcano Eruption by Thavam

At least 40 arrested after religious clashes in Gujarat

 A police officer patrols a deserted road after a clash in Vadodara in Gujarat September 26, 2014. 

 Motorcycles burn after they were set on fire by a mob during a clash in Vadodara, in Gujarat, September 25, 2014. 

NEW DELHI Sun Sep 28, 2014 

(Reuters) - Authorities in Gujarat arrested at least 40 people after late-night clashes between Hindus and Muslims in Vadodara and suspended mobile phone Internet and bulk text messaging services for four days, officials said on Sunday.

Crowds from the two religious communities pelted each other with stones and set several vehicles alight until police dispersed them using tear gas on Saturday evening after days of tensions in the city, police told Reuters.

Gujarat is the home state of Hindu nationalist Prime Minister Narendra Modi, who is currently in the United States and is scheduled to meet President Barack Obama.

The state has a majority Hindu population and a history of religious conflict. At least 1,000 people, mostly Muslims, died in Gujarat in 2002 in violence between Hindus and Muslims. Modi was chief minister of the state at the time.

The Hindustan Times newspaper reported this week that the trouble in Vadodara started with a posting on Facebook that some Muslims deemed offensive.

Police in the city said mobile phone text messages and other social media had been used to spread messages about rioting and to inflame religious tensions.

The four-day suspension of the mobile Internet, bulk text messaging and MMS services began on Saturday, a crime branch official in Vadodara told Reuters on condition of anonymity.

Residents in the city confirmed to Reuters that services were disrupted.

Emboldened by Modi's emphatic election victory in May, Hindu hardliners have been agitating in parts of India against religious minorities.

A prominent right-wing Hindu group on Thursday warned Muslims and Christians against taking part in the Hindu Navratri festival as before.

"We have made 40 arrests since last night and will make more to quell the rioting," S K Nanda, Gujarat's home secretary, said.

The police did not provide the number of injured in the clashes.

On Sunday, the streets of Vadodara were calm but the authorities remained on alert.

"Not many people are out due to fear of recurrence of violence," said a senior state government official, who did not wish to be identified. "We are keeping a close eye on the situation."

For long Modi was denied a visa by the United States over allegations of religious intolerance stemming from Gujarat riots in 2002. Critics have accused Modi of allowing the riots to happen, but courts have found no evidence to indict him.

The state has largely been peaceful since then.

(Reporting by Aditya Kalra; Editing by Raissa Kasolowsky)

American doctor exposed to Ebola to be treated at National Institutes of Health

US health facility to admit physician exposed to virus in Sierra Leone to special isolation unit in hospital near Washington DC

Healthcare workers spray disinfectant to prevent the spread of the Ebola virus in Kenema, Sierra Leone Photograph: Tanya Bindra/AP

Associated Press in Washington

Sunday 28 September 2014

The National Institutes of Health (NIH) is preparing to care for an American doctor who was exposed to the Ebola virus while volunteering in Sierra Leone.

Out of what the agency called “an abundance of caution”, the physician is expected to be admitted to the special isolation unit at the NIH’s hospital near the nation’s capital as early as Sunday, for observation.

NIH infectious disease chief Dr Anthony Fauci would not discuss details about the patient but said that in general, exposure to Ebola did not necessarily mean someone would become sick.

“When someone is exposed, you want to put them into the best possible situation so if something happens you can take care of them,” Fauci said.

An agency statement added: “NIH is taking every precaution to ensure the safety of our patients, NIH staff and the public.”

Four other American aid workers who were infected with Ebola while volunteering in the west African outbreak have been treated in the US, at hospitals in Georgia and Nebraska. One remains hospitalised while the others have recovered.

Natural home remedies: Belching

Sep 27, 2014

Admittedly, most burps are no big deal. But sometimes, manners matter. So when there’s too much gas in your system, try these bubble-busters. Some remedies right in your kitchen will take the wind out of your sails

A belch simply means you have accumulated a build-up of air in your stomach, and your body want to get rid of it to reduce the pressure. What goes in must come out. And when it does, the distinctive sound it makes is the belch (a.k.a. burp).

What you can do to prevent burping

• Avoid carbonated drinks. Ever open a fizzy soda after it’s been shaken? A similarly explosive situation will build in your stomach if you gulp down bubbly drinks.
• Steer clear of sparkling wine and beer. Like soda, they have the same power to remind you of their presence.
• Some foods contain more air than others. Avoid them. The aeration club includes whipped cream, soufflés and fluffy omelettes.
• Allow hot drinks to cool. Sipping a blistering drink like hot coffee may cause you to gulp lots of air.
• Set the straw aside. Drinking through straws causes you to—you guessed it—swallow air.
• Ditch the smokes. When you inhale air through a cigarette, you’re also swallowing some.
• Eat slowly. If you wolf down your food, you’re gulping air that will eventually want to re-emerge.
• Close your mouth to chew. You’re less likely to swallow air that way. For the same reason, don’t try to talk and chew at the same time.
• Avoid squeezing into tight clothes. Pressure around your midsection can squeeze out burps.

A natural boost for belching

• Ginger can provide quick relief. Take powdered ginger capsules or tincture before your meals. Or eat a bit of fresh gingerroot. Alternatively, you can make a very tasty tea. Finely grate a teaspoon of fresh gingerroot, pour a cup of boiling water over it, and steep for five minutes. Strain and let it cool a bit before you begin sipping.
• Fennel, anise and celery seeds can all relieve belching. All these seeds are available in the spice section of most supermarkets and you just need to chew a pinch of them to help prevent after-dinner belching. These seeds have carminative agents, which help expel gas from the intestinal tract.
• Camomile tea is a folk treatment for stomachaches that may also help relieve burping. Store-bought camomile tea bags will work just fine.
• Cardamom tea helps you digest your food better so the food you eat will be less likely to produce gas. Place 1 teaspoon cardamom in 1 cup of water and boil for 10 minutes. Drink the hot tea with your meals.

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