Peace for the World

Peace for the World
First democratic leader of Justice the Godfather of the Sri Lankan Tamil Struggle: Honourable Samuel James Veluppillai Chelvanayakam

Saturday, November 26, 2016


Former Sri Lankan President Mahinda Rajapaksa is on a week-long visit to China on the invitation of the Chinese government — a development that sections within the government and diplomatic circles here see as a “strong message” from Beijing.

The visit assumes further significance in the wake of controversial remarks made by Yi Xianliang, the Chinese Ambassador to Colombo, that pointed to apparent tensions between the Sri Lankan government and Beijing.

At a press conference here, Mr. Yi asked why Colombo sought more loans from Beijing if it found them “expensive,” as the Sri Lankan Finance Minister had observed. While the Chinese Foreign Ministry defended the envoy, Sri Lanka’s Foreign Minister Mangala Samaraweera met Mr. Yi and “advised” him to take up such matters through Foreign Ministry channels rather than the media.

A top source here, requesting anonymity, said that the incident — which was “uncharacteristic” of Chinese diplomacy — coupled with Mr. Rajapaksa’s trip to China, was a clear message from Beijing.
“Not just to our government, but also to New Delhi,” the senior official said, referring to competing strategic interests that the two powers are known to have in the island nation.

Mr. Rajapaksa, during his two terms in office, was widely perceived as being close to Beijing. With Chinese loans, he built a massive port and airport in the southern city of Hambantota, which the current government has termed financially non-viable “white elephants.”

This invitation points to a public display of support, observers noted, weeks after pro-Rajapaksa actors floated a new political party and invited him to lead it. It also comes about a month after his brother and former Defence Secretary Gotabhaya Rajapaksa travelled to China to attend a defence seminar.

The former President’s political ally and Democratic Left Front Leader Vasudeva Nanayakkara said that by “inviting the former President, the Chinese government has shown how much they value the relationship with the former President and appreciate his political stature.”

When contacted, the Chinese Foreign Ministry said Mr. Rajapaksa was on a “private goodwill visit” on the invitation of the Chinese People’s Institute of Foreign Affairs, a state-backed think-tank. “President Rajapaksa made positive contributions to the development of China-Sri Lanka relations during his term of office. The Chinese side appreciates what he has done for the friendship between the two countries,” the Ministry told The Hindu.

Ahead of his departure, Mr. Rajapaksa told editors of select local newspapers that India had adopted a softer line with the new government though it had “sold the Hambantota port to the Chinese.”
Recalling the incident involving Chinese submarines that had docked at Colombo harbour in 2014, when he was in power, he said: “They [New Delhi] made a big issue about the submarines, but today even if you give the entire port [to China], it is not a problem for them [India]. This shows the difference in diplomatic relations.”

Last month, Sri Lanka said it would sell 80 per cent of the $1.5-billion port in the southern city of Hambantota to a Chinese company to tackle the country’s debt burden.

(With inputs from Atul Aneja in Beijing)

Basil Attempts To Poach MPs As Anti-Corruption Front Claims Rajapaksas Trying To Make A Comeback


Colombo Telegraph
November 27, 2016
As President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe attempted to informally bribe MPs to continuously retain their support within the Yahapalanaya Government by doling out various bonanzas in the guise of ‘allowances’, former Minister of Economic Development Basil Rajapaksa has kicked off a new mission to poach MPs from the ruling coalition.
Basil Colombo TelegraphHighly placed sources said that Rajapaksa has been holding talks with several MPs who are ‘on the fence’. “But, so far the discussions have only commenced, but it is not likely that there will be a finalization anytime soon, but the talks have begun,” sources said.
The discussions come just days since Basil Rajapaksa obtained membership of the Sri Lanka People’s Front (SLPF), led by former External Affairs minister G.L. Peiris, a loyalist of former President Mahinda Rajapaksa.
“The present leadership is granting various financial benefits to the MPs saying that they are underpaid to ensure that they remain within the government ranks. However, if a strong opposition is built, there can be a possibility that some MPs who still have loyalty to Mahinda Rajapaksa might consider switching sides,” a source said.
The new SLPF has also been having discussions with provincial level politicians, and several provincial politicians have already joined the new party and are likely to contest the local government elections scheduled for next year.
Meanwhile, Chairman of Anti-Corruption Front Ven. Ulapane Sumangala said this week that the Rajapaksa family was frantically attempting to make a comeback to power, as the current government continues to lose credibility as well as its popularity.
He said that as the incumbent government has failed to fulfill its promises pledged to the masses; and both Mahinda and Basil Rajapaksa were trying to make a comeback by forming the SLPF.

Israeli settlers flee homes as West Bank wildfires spread


About 1,000 residents flee Halamish settlement near Ramallah as 45 homes are damaged or destroyed by fire
Croatian firefighting plane helps extinguish blaze that broke out near Israeli town of Nataf, west of Arab Israeli town of Abu Ghosh, along border with occupied West Bank (Reuters)

 
Saturday 26 November 2016
Wildfires near Jewish settlements in the occupied West Bank forced hundreds to flee their homes after mass evacuations in Israel and more than a dozen arrests, police said on Saturday.
Israeli and Palestinian firefighters, helped by foreign aircraft, have been battling dozens of bush blazes fed by drought and high winds that have seen tens of thousands of people evacuated.
About 1,000 residents had to leave the Halamish settlement near Ramallah as 45 homes were damaged or destroyed by fire, a police spokeswoman said.
Police spokeswoman Luba Samri told Deutsche Welle that the Halamish fire erupted in several locations and quickly spread throughout the settlement. Wildfires, but no evacuations, were also reported near the West Bank settlements of Dolev, Alfei Menashe and Karnei Shomron.
Firefighting planes from Israel and countries including Russia, Turkey, Greece, France, Spain and Canada continued to dump tonnes of water and retardants on fires at locations including the village of Nataf, near Jerusalem.
A police spokeswoman said the large-scale effort managed to bring the Nataf blaze under control by Saturday afternoon, allowing residents to return.
A newly arrived US Supertanker, considered the largest firefighting aircraft in the world, joined the emergency operation on Saturday.
Police said they had arrested 14 people on suspicion of negligence or deliberately starting fires, without providing details about their identities.
In the country's third city, Haifa, where tens of thousands of people had been evacuated on Thursday from the path of towering flames that threatened entire neighbourhoods, residents have begun returning home to assess the damage.
Israeli authorities suspect that some of the fires may be of criminal origin and linked to the Israeli-Palestinian conflict.
Prime Minister Benjamin Netanyahu said on Friday there was "no doubt" that some of the fires had been deliberately set.
"There is a price to pay for the crimes committed, there is a price to pay for arson terrorism," he said.
Arab Israeli leaders have argued that their community, which makes up about 17.5 percent of the country's population, is as much affected by the fires as Jews.
The Palestinians joined the efforts overnight to extinguish the blazes, sending 41 firefighters and eight trucks to Haifa.
Netanyahu telephoned Palestinian president Mahmud Abbas on Saturday to thank him for their help, the premier's office said in a statement.
Haifa municipality estimated the damage in the city at $120m, and said that of the 1,784 homes affected by the fires, 572 were no longer habitable.
Israel's Nature and Parks Authority issued a statement saying that 13,000 hectares (32,000 acres) of forest and shrubland have been burned in recent days.
Local media cited authorities as saying about 700 homes have so far been damaged or destroyed by the fires.

Cuba: The Legend No More – Goodbye Comrade Fidel!

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Fidel Castro has died at the age of 90, Cuban state television announced on Saturday, ending an era for the country and Latin America.
Click on the image to read of new publication on Fidel
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( November 26, 2016, Havana, Sri Lanka Guardian)Fidel Castro has died at the age of 90, Cuban state television announced on Saturday, ending an era for the country and Latin America. The revolutionary icon, one of the world’s best-known and most controversial leaders, survived countless US assassination attempts and premature obituaries, but in the end proved mortal after suffering a long battle with illness.

The announcement was long expected, given the former president’s age and health problems, but when it came it was still a shock: the comandante – a figurehead for armed struggle across the developing world – was no more. It was news that friends and foes had long dreaded and yearned for respectively.

The Communist party and state apparatus has prepared for this moment since July 2006 when Castro underwent emergency intestinal surgery and ceded power to his brother, Raúl, who remains in charge.
Fidel wrote occasional columns for the party paper, Granma, which was widely published by other media  around the globe and made very occasional public appearances – most recently at the 2016 Communist party congress – but otherwise remained invisible.

The legendary figure is no more but his soul will remain forever!
Here is his last column published by Sri Lanka Guardian. 
Watch Fidel Life and Event in Brief:  Documenetry

The life of Fidel Castro (1926-2016)

Former Cuban political leader Fidel Castro dies at 90.

 

Fidel Castro, who led a Cuban revolution that made his Caribbean island a potent symbol of the 20th-century ideological and economic divisions, and whose embrace of communism and the former Soviet Union put the world at the risk of nuclear war, died Nov. 25. He was 90.

An Interview with Fidel Castro

An Interview with Fidel Castro

BY BARBARA WALTERS-SEPTEMBER 15, 1977

EDITORS’ NOTE: The transcript of this interview was prepared by aCuban stenographerand both the rendering of Barbara Walters’ English questions and the translation of Fidel Castro’s remarks from Spanishwere, in many instances, rough. The material in these excerpthas beenedited to read smoothly, but the original substance and tone of the conversation have been preserved.
Castro released 11 American prison­ers in June 1977. According to State Department esti­mates, at least 20 Americans remained in Cuban pris­ons on various drug, hijacking, or political charges. In August, Castro said he would permit the Cuban families of 84 U.S. citizens to leave Cuba.

Trump Tower security may take over 2 floors — and cost millions


By Julia Marsh-November 24, 2016

The Secret Service is in negotiations with the Trump Organization to take over two vacant floors in the gilded 68-story Fifth Avenue tower, law enforcement sources told The Post.

The federal agency and the NYPD plan to run a 24/7 command post out of the space that would be housed at least 40 floors below Trump’s $90 million penthouse triplex, where wife Melania and their 10-year-old son Barron will continue to reside at least through the spring, sources said.

The first 26 floors of the glass-clad skyscraper are commercial tenants while the remaining levels are luxury apartments.

But several commercial floors are currently vacant, sources said. The Secret Service is eyeing two contiguous floors for over 250 agents and cops, sources said.

The Secret Service must protect the president and his family wherever they go, including visits back to their permanent homes.

For example, the Secret Service paid Vice President Joe Biden $2,200-a-month, to rent out a cottage next to his Wilmington, Del. home, according to a 2011 article in The Washington Times.

And when President Barack Obama spent summer vacations on Martha’s Vineyard and his annual Christmas vacation to Hawaii, his security detail rented private homes and hotel rooms and set up land and sea perimeters over the short stay.

The same is expected when Trump visits his Mar-a-Lago estate in Florida as he and his family are doing for the Thanksgiving weekend. Similarly, it cost roughly $2 million a year for the U.S. Coast Guard to station boats off the coast of George H. W. Bush’s Kennebunkport, Maine estate during his presidency.

But in the case of Trump Tower, taxpayers would be paying the president-elect’s own corporation to lease the two floors, aside from the cost of agents, staff and equipment and barriers that are normal in such cases.

The lease deal alone could cost more than $3 million a year, based on prevailing rates in the building.
The Post reported earlier this week that the 17th floor at Trump Tower is available. The floor is currently being marketed in three, 3,000- to 5,000-square-foot parcels at up to $105 per square foot.

At that rate the federal government would be paying $1.5 million a year for just one floor and double that for two levels of Trump Tower offices.

The ready-to-rent 17th floor includes six large south-facing outdoor terraces, private elevators, polished concrete floors — but no brass.

The 15th floor may also be available. The Trump Campaign operated mainly out of that level plus other areas, paying $169,000-a-month for rent and utilities, according to the Federal Election Commission.
Reps for the Trump Organization and the Secret Service did not return messages seeking comment.

The government tenant would be a boon for the building that’s seen a nearly 40 percent rate slash for sales and rentals of residential units in the past year, according to a recent article in The Hollywood Reporter.

Approximately 15 percent of the residential space is for rent or sale while the rest of the luxury housing market enjoys low vacancy rates, the entertainment web site said.

A top Manhattan real estate broker said an exodus is underway at the once sought-after building.
“These are wealthy people. They don’t need this, and they can’t take it any longer. They no longer want to stay there,” the broker told The Post in early November.

The marble-lobbied building is home to art dealer Helly Nahmad and Trump’s former campaign manager Paul Manafort. Past residents include Michael Jackson, Liberace and Andrew Lloyd Webber.

Clinton splits from White House on Jill Stein recount push rejected by Trump


 and Saturday 26 November 2016 
Hillary Clinton’s presidential campaign said on Saturday it would help with efforts to secure recounts in several states, even as the White House defended the declared results as “the will of the American people”.

The campaign’s general counsel, Marc Elias, said in an online post that while it had found no evidence of sabotage, the campaign felt “an obligation to the more than 64 million Americans who cast ballots for Hillary Clinton”.

“We certainly understand the heartbreak felt by so many who worked so hard to elect Hillary Clinton,” Elias wrote, “and it is a fundamental principle of our democracy to ensure that every vote is properly counted.”

In response, President-elect Donald Trump said in a statement: “The people have spoken and the election is over, and as Hillary Clinton herself said on election night, in addition to her conceding by congratulating me, ‘We must accept this result and then look to the future.’”

Wisconsin began recount proceedings late on Friday after receiving a petition from Jill Stein, the Green party candidate. Stein claims there are irregularities in results reported by Wisconsin as well as Michigan and Pennsylvania, where she plans to request recounts next week, having raised millions of dollars from supporters.

Trump called Stein’s effort a “scam” and said it was “just a way … to fill her coffers with money, most of which she will never even spend on this ridiculous recount”.

“The results of this election should be respected instead of being challenged and abused,” he added, “which is exactly what Jill Stein is doing.”

A spokeswoman for Stein did not respond to a request for comment. Speaking to CNN, however, Stein said she had “no contact with the Clinton campaign” and added: “I have said consistently that if there are questions about the accuracy and security I would challenge it, no matter who was the winner.”

Asked what the recount would do for her or for the Green party, Stein said: “We want to know what our vote is, and that our votes are being counted. This is not a partisan effort but we need to have confidence, too.

“When evidence emerged the system was being hacked all over the place, my conviction only strengthened that this was something we have to do.”

She did not discuss any such evidence for her claims. Earlier in the afternoon, she had used Twitter to say: “Election integrity cannot be led by a party w/o integrity, just as a revolution cannot happen in a counterrevolutionary party.”

Trump narrowly defeated Clinton in all three states on his way to national victory, surprising pollsters. Because Trump’s win followed warnings from US intelligencethat Russia was trying to interfere with the election, thousands of people who opposed Trump now claim he could have had foreign assistance.

In its first public remarks about the election’s security, the Obama administrationsaid it “did not observe any increased level of malicious cyber-activity aimed at disrupting our electoral process on election day”.
A senior administration official told the Guardian: “We believe our elections were free and fair from a cybersecurity perspective.”

Stein’s petition to Wisconsin, a copy of which was obtained by the Guardian, focused on concerns that foreign actors might have copied the state’s voter registration database and then filed bogus absentee ballots. No direct evidence supporting this claim was cited.

In requesting the recounts, Stein is acting on behalf of a loose coalition of academics and election experts. Her Wisconsin petition features an affidavit by J Alex Halderman, the director of Michigan University’s Center for Computer Security and Society, who has for years detailed vulnerabilities in electronic voting machines used in the US.

One of the leaders of the coalition, John Bonifaz, founder of the National Voting Rights Institute, expressed frustration that critics were accusing Stein of exploiting disappointment over the election result to collect money and gather contact details from liberal activists.

“This was all driven by the nonpartisan election integrity community,” said Bonifaz, a constitutional attorney, in his first interview about the recount effort. “I’m the one who asked Jill Stein to file these petitions.”

Bonifaz also defended Stein’s decision to increase her fundraising target from its original $2.5m, which led to more criticism. Bonifaz said the coalition had retained the New York law firm Emery Celli Brinckerhoff & Abady, which has extensive experience in election disputes and had advised them to budget $7m for the effort.

“This is going to be a very costly campaign,” said Bonifaz, adding that the average contribution from the tens of thousands of supporters who had donated was about $42. “But it is something that a lot of people clearly want.”

By Saturday afternoon, the online fundraising effort had reached $5.8m.

In addition to lawyers’ fees and state filing fees, the group is anticipating that litigation will be needed against opposition to recounts. Michigan’s election rules allow a candidate to oppose a request from another for a recount, but it is unclear whether the Trump campaign would decide to take advantage of this.

The coalition had approached the Clinton campaign but received no official response, according to Bonifaz.

In his online posting, Elias said: “Because we had not uncovered any actionable evidence of hacking or outside attempts to alter the voting technology, we had not planned to exercise this option ourselves.
“But now that a recount has been initiated in Wisconsin, we intend to participate in order to ensure the process proceeds in a manner that is fair to all sides.”

Trump received 2m fewer votes than Clinton nationally, but won the presidency thanks to the electoral college. More than 7 million Americans voted for other candidates, including Stein and the Libertarian Gary Johnson.

In Wisconsin, Trump beat Clinton by 27,257 votes. Stein received 30,980 votes and Johnson 106,442.
Elias wrote: “If Jill Stein follows through as she has promised and pursues recounts in Pennsylvania and Michigan, we will take the same approach in those states as well.

“We do so fully aware that the number of votes separating Donald Trump and Hillary Clinton in the closest of these states” – Michigan, where the Republican leads by 10,704 votes with the result expected to be certified on Monday – “well exceeds the largest margin ever overcome in a recount.

“But regardless of the potential to change the outcome in any of the states, we feel it is important, on principle, to ensure our campaign is legally represented in any court proceedings and represented on the ground in order to monitor the recount process itself.”

The Advent of Pal Smurch (Donald Trump)


By Izeth Hussain- 
article_imageI began my last article Observations on Trump’s triumph (Island of November 19) with the statement that sometimes the great writers get it right when others fail to do so, and further that although they are not systematic thinkers and their views can be idiosyncratic they show an intuitive faculty that is uncommon. By "writers" I meant those engaged mainly in literature. That is not to deny, however, that systematic thinkers such as philosophers can also get it right when the generality of others fail to do so.

A spectacular instance of that was provided three days after the US Presidential elections when an American lawyer tweeted a few sentences from Richard Rorty’s 1998 book Achieving our Country. Rorty was one of the best known American philosophers of the second half of the last century, an exponent of neo-pragmatism. The gist of the tweeted sentences was that sooner or later both organized and unorganized labour would come to realize that the Government is not even trying to stop wages from sinking or jobs from being exported. They would realize further that the urban middle class, desperately afraid of themselves sinking into poverty, would reject their being taxed for the benefit of others. At that point something would crack: they would look for a strong man to lead them. There would be a revulsion against the elites that have been dominant in the US. The tweet was retweeted thousands of times and all existing copies of the 2010 edition of the book were sold out within the same day. A philosopher, engaged for the most part in abstruse speculation, got it right, spectacularly right. The politicians have been clueless.

However, it is the creative artists, the writers, the painters, the musicians, who best reflect the zeitgeist, the spirit of the times, and grasp the seismic changes that can take place. It was they who in the early decades of the last century grasped firmly the collapse or deep shortcomings of the Enlightenment project which since the eighteenth century was building the brave new world on the basis of rationality and individualism. Picasso’s Les Demoiselles d’Avignon, the Damsels of Avignon, was first exhibited in 1907. It inaugurated the Cubist movement and therefore modernism in painting. It wasn’t an evocation of the exotic as the title might suggest but a portrayal of grim reality. Avignon did not refer to the enchanting small town in Provence but to a street in Picasso’s native Barcelona that was notorious for its brothels. Clearly inspired by African masks, the females portrayed are grim, a powerful image of the savagery underlying the veneer of civilization, something very remote from the Enlightenment ethos.

Stravinsky’s Rites of Spring, also showing the savage complement to European civilization, was first performed in 1913, which was appropriate because it was just one year prior to the outbreak of the First World War after which the questioning of the efficacy of the Enlightenment project became unavoidable. Significantly there quickly followed, in 1922, Eliot’s The Waste Land, showing Europe as the very antithesis of what had been promised by the religion of progress that was at the core of the Enlightenment project. Thus, the power of creative artists to see beneath the surface and also their prophetic power, was shown in all three of the arts. I must mention a strange fact about the composition of the Rites of Spring. Stravinsky declared that he hardly composed it because the music just surged through him. One might say that the zeitgeist used him as its instrument. The strange experience unnerved him completely. He converted to Catholicism.

Later, sometime before 1939, Yeats wrote his great prophetic poem, The Second Coming, which concluded "What rough beast, Slouches towards Bethlehem to be born?" The rough beast of Nazism was exterminated in 1945, but neo-Fascism is alive and kicking in several countries, and in the apartheid Zionist state of Israel a rough beast has its center in Jerusalem. I must mention that Yeats was present at the first 1897 performance in Paris of Alfred Jarry’s play Ubu Roi, which might be regarded as the first breakthrough towards modernity in literature. It was a farcical satire on the power drive which provoked Yeats to write prophetically, "After us, the savage gods". Of no great literary quality in my view, it has nonetheless acquired classic status, to the extent that a Sinhala version was performed in Colombo some time ago, attesting to modern man’s preoccupation with the problem of power.

It is in the very eminent company that I have sketched out above that I would place for its prophet quality James Thurber’s satirical story of 1950, The Greatest Man in the World. As most readers will not be accessing it, I will mention just a few of its details. A garage hand, Pal Smurch, took off on an old two-seater plane, equipped with a device carrying petrol and taking with him a gallon of bootleg gin and six pounds of salami, on a non-stop flight right round the globe. He proclaimed "Nobody ain’t seen no flyin’ yet". The media took it as a crazy publicity stunt but at a later stage of the flight the American public was all agog for news about its fantastic hero. Media research found that all the details about him were unprintable. His mother’s reaction was "Ah, the hell with him. I hope he drowns". His father was somewhere in jail for repeated acts of felony. His brother was in the reformatory as a juvenile delinquent, as Smurch himself had been. The media – the story is partly a satire about the media – put it out that he was a modest and much loved and respected young man without giving any details, whereas all who knew him declared him a public nuisance and a menace. On completing his fantastic flight he was taken in charge by a small directorate set up to coach him in the standards of behavior expected of America’s greatest national hero. To no avail as he was raring to meet his girl friend (his "sweet patootie") and get hold of the big money that was his due. Finally, with the tacit approval of the President he was ejected through a seventh storey window.

Thurber modeled his hero quite clearly on Lindbergh, aviator and national icon, although he explicitly declared him a gentleman of excellent ancestry, quite the opposite of Pal Smurch. It is known that Lindbergh was an admirer of the Nazis, as recognized by no less than President Franklin Roosevelt. Thurber’s message is clearly that Pal Smurch, symbolizing raw appetite for power and money, is the reality underlying the gentlemanly veneer of the civilized American elite. Significantly, he begins his story on the eruption of Pal Smurch with this sentence, "Looking back on it now, from the vantage point of 1950, one can only marvel that it hadn’t happened long before it did". The truth is that Pal Smurch, Lindbergh, and Donald Trump are all as American as apple pie, and the following characterization applies to all of them: "He tilted back in his chair, and leered at each gentleman, separately, the leer of an animal that knows its power, the leer of a leopard loose in a bird-and-dog shop". That emphasis on "separately" with the two commas declares a writer of rare quality.

The world-wide voluminous comments on Trump’s triumph focus on one question, the question of controlling a leopard on the loose, or an unguided missile with ready access to the nuclear trigger. As I noted in my last article the tradition of liberal democracy in the US has been far stronger than that of populist semi-fascism, so that the chances are – though it is not a certainty – that Trump will be brought under some degree of control or be forced to make his exit through an upper storey window. But that will not solve the underlying problem. An economic system that condemns to poverty a sizeable segment of the population of even the most advanced country in the world has nothing to recommend it. It should be destroyed.

izethhussain@gmail.com

China may look at banks' cross-border yuan business in risk assessments: Caixin

People walk past the headquarters of the People's Bank of China (PBOC), the central bank, as two paramilitary police officials patrol around it in Beijing November 20, 2013.   REUTERS/Jason Lee/File Photo
People walk past the headquarters of the People's Bank of China (PBOC), the central bank, as two paramilitary police officials patrol around it in Beijing November 20, 2013. REUTERS/Jason Lee/File Photo

Sat Nov 26, 2016

China's central bank is considering including cross-border yuan business into its assessment of macro-prudential risks in the country's financial system, online finance magazine Caixin reported on Saturday, citing unnamed regulatory sources.

Earlier this year, China introduced a risk measuring tool known as the Macro Prudential Assessment system (MPA) to take into account banks' capital adequacy and leverage ratios, assets and liabilities, liquidity and foreign debt risks.

Caixin said the inclusion of banks' cross-border yuan business risk into the MPA system could incorporate items such as the ratio of cross-border yuan outflows to the total amount of local and foreign currency outflows.

The magazine quoted an unnamed banker as saying the move would force banks to "do more incoming yuan business, and less yuan outflow activities ... It means that no matter how large the demand is from clients, how much profit it can offer, the bank will have to weigh up the pros and cons."

The People's Bank of China was not immediately available to respond to a fax and calls from Reuters for comment outside working hours on the weekend.

The government has enacted a string of measures to stem surging currency outflows with the yuan CNY=CFXS plumbing 8-1/2 year lows against the surging U.S. dollar.

The Wall Street Journal on Friday reported that China plans to tighten controls on companies looking to invest abroad, in an effort to stop a surge of capital fleeing offshore.

While Beijing has been busily damming up official channels for money to leave China, more than ever is leaking out through shady means as investors flee the country's slowing economy and weakening currency, financial industry executives say.

(Reporting by Brenda Goh and Winni Zhou; Editing by Himani Sarkar)