Sri Lanka's Prime Minister Ranil Wickremesinghe arrives at a Buddhist temple in Colombo after his swearing-in ceremony on Thursday. Reuters
Sri Lanka's Prime Minister Ranil Wickremesinghe arrives at a Buddhist temple in Colombo after his swearing-in ceremony on Thursday. Reuters
Sri Lanka's Prime Minister Ranil Wickremesinghe arrives at a Buddhist temple in Colombo after his swearing-in ceremony on Thursday. Reuters
Sri Lanka's Prime Minister Ranil Wickremesinghe arrives at a Buddhist temple in Colombo after his swearing-in ceremony on Thursday. Reuters

New Sri Lanka PM Ranil Wickremesinghe struggles to form government


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Sri Lanka's Prime Minister Ranil Wickremesinghe suffered his first setback after taking office on Thursday when a leading opposition MP rejected his invitation to take the post of finance minister in a unity government.

Mr Wickremesinghe, 73, was appointed after his predecessor Mahinda Rajapksa resigned amid violent nationwide protests over an economic crisis that has caused months of shortages, rising prices and blackouts.

The veteran politician, who has been prime minister five times before, said he was confident of getting enough support to steer the country through the crisis and approached several potential allies to join his administration.

But on Friday opposition MP Harsha de Silva, an economist, publicly rejected an overture to take charge of the nation's finances and said he would instead push for the government's resignation.

People are not asking for political games and deals, they want a new system that will safeguard their future
Harsha de Silva,
MP

“People are not asking for political games and deals, they want a new system that will safeguard their future,” he said in a statement.

He said he was joining “the people's struggle” to topple President Gotabaya Rajapaksa, the former prime minister’s younger brother, and would not support any political settlement that left the leader in place.

Mr De Silva is a member of the Samagi Jana Balawegaya (SJB) party, the largest opposition grouping in parliament, which had appeared ready to split over the question of whether to support Mr Wickremesinghe.

But the head of the possible splinter faction, Harin Fernando, said on Friday he had returned to the fold.

"I will not support Wickremesinghe's government," Mr Fernando told AFP.

Two smaller parties also signalled that they would not join a unity government.

The Tamil National Alliance said Mr Rajapaksa's administration had "completely lost legitimacy" with the appointment of Mr Wickremesinghe, who most recently held office in 2019.

The leftist People's Liberation Front (JVP) meanwhile said new national elections were the only way out of the current impasse.

Mr Wickremesinghe is the only member of parliament from his United National Party and must rely on rival political parties to form a government. An alliance led by the president and his brother holds about 100 of parliament's 225 seats, while the opposition has 58 seats. The rest are independent.

Hundreds of people remain camped at a protest site in the capital Colombo, demanding that Mr Rajapaksa step down.

  • Violence raged across Sri Lanka late into the night on Monday, with five people dead and some 180 injured. AFP
    Violence raged across Sri Lanka late into the night on Monday, with five people dead and some 180 injured. AFP
  • Sri Lanka's pro-government supporters vandalise camps of anti government protestors outside the president's office in Colombo. AP Photo
    Sri Lanka's pro-government supporters vandalise camps of anti government protestors outside the president's office in Colombo. AP Photo
  • Sri Lankan Prime Minister Mahinda Rajapaksa quit on May 9 after a day of violence saw four people, including an MP, killed. AFP
    Sri Lankan Prime Minister Mahinda Rajapaksa quit on May 9 after a day of violence saw four people, including an MP, killed. AFP
  • Government supporters armed with sticks and clubs attack protestors. AFP
    Government supporters armed with sticks and clubs attack protestors. AFP
  • Demonstrators scuffle with police outside the president's office in Colombo. AFP
    Demonstrators scuffle with police outside the president's office in Colombo. AFP
  • Demonstrators and government supporters clash. AFP
    Demonstrators and government supporters clash. AFP
  • Police personnel stand guard outside the president's office. AFP
    Police personnel stand guard outside the president's office. AFP
  • Destroyed vehicles litter the street after anti-government protesters rioted in Colombo. AFP
    Destroyed vehicles litter the street after anti-government protesters rioted in Colombo. AFP
  • Pro-government supporters hold Prime Minister Mahinda Rajapaksa's portrait while protesting. AFP
    Pro-government supporters hold Prime Minister Mahinda Rajapaksa's portrait while protesting. AFP
  • A bus burns close to Sri Lanka's outgoing Prime Minister Mahinda Rajapaksa's official residence in Colombo. AFP
    A bus burns close to Sri Lanka's outgoing Prime Minister Mahinda Rajapaksa's official residence in Colombo. AFP
  • Anti-government protesters destroy a bus in Colombo. AFP
    Anti-government protesters destroy a bus in Colombo. AFP
  • Army personnel stand guard outside the president's office in Colombo. AFP
    Army personnel stand guard outside the president's office in Colombo. AFP
  • Supporters of the Sri Lankan government attempt to block a police water canon truck. AFP
    Supporters of the Sri Lankan government attempt to block a police water canon truck. AFP
  • People gather near a burning bus in Colombo. AFP
    People gather near a burning bus in Colombo. AFP
  • Anti-government demonstrators set fire to the house owned by Cabinet Minister Sanath Nishantha. Reuters
    Anti-government demonstrators set fire to the house owned by Cabinet Minister Sanath Nishantha. Reuters
  • Sri Lankans push a bus, transporting government supporters who attacked anti-government protesters, into a lake in Colombo. AP Photo
    Sri Lankans push a bus, transporting government supporters who attacked anti-government protesters, into a lake in Colombo. AP Photo
  • A policeman fires tear gas during a clash. AFP
    A policeman fires tear gas during a clash. AFP
  • Sri Lankan Prime Minister Mahinda Rajapaksa resigned on Monday over the country’s dire economic state and violence at mass protests outside his home in Colombo, his spokesman Rohan Weliwita said. AP
    Sri Lankan Prime Minister Mahinda Rajapaksa resigned on Monday over the country’s dire economic state and violence at mass protests outside his home in Colombo, his spokesman Rohan Weliwita said. AP
  • Demonstrators and government supporters clash outside the official residence of Mahinda Rajapaksa, 76, who offered his resignation to his younger brother, President Gotabaya Rajapaksa. AFP
    Demonstrators and government supporters clash outside the official residence of Mahinda Rajapaksa, 76, who offered his resignation to his younger brother, President Gotabaya Rajapaksa. AFP
  • A man suffers after being sprayed with tear gas as cars burn on the streets of Colombo, Sri Lanka. AP
    A man suffers after being sprayed with tear gas as cars burn on the streets of Colombo, Sri Lanka. AP
  • Paramilitary police arrive as demonstrators and government supporters clash. AFP
    Paramilitary police arrive as demonstrators and government supporters clash. AFP
  • Sri Lankan government supporters cheer outside the prime minister's residence in Colombo. AP
    Sri Lankan government supporters cheer outside the prime minister's residence in Colombo. AP
  • Supporters of the ruling party run as riot police fire tear gas during clashes in Colombo, amid the country's economic crisis. Reuters
    Supporters of the ruling party run as riot police fire tear gas during clashes in Colombo, amid the country's economic crisis. Reuters
  • A policeman stands guard in riot gear. AP
    A policeman stands guard in riot gear. AP
  • Water cannon are fired during a confrontation with anti-government demonstrators. Reuters
    Water cannon are fired during a confrontation with anti-government demonstrators. Reuters
  • Supporters of Sri Lanka's ruling party run in Colombo as police fire tear gas during a clash with anti-government demonstrators. Reuters
    Supporters of Sri Lanka's ruling party run in Colombo as police fire tear gas during a clash with anti-government demonstrators. Reuters
  • A Sri Lankan Catholic priest, centre in a white robe, is among anti-government protesters being attacked by supporters of the ruling party outside the prime minister's residence. AP
    A Sri Lankan Catholic priest, centre in a white robe, is among anti-government protesters being attacked by supporters of the ruling party outside the prime minister's residence. AP
  • Tears after anti-government protesters were attacked by supporters of the ruling party in Colombo. AP
    Tears after anti-government protesters were attacked by supporters of the ruling party in Colombo. AP
  • Violence flares between demonstrators and government supporters outside the president's office in Colombo. AFP
    Violence flares between demonstrators and government supporters outside the president's office in Colombo. AFP
  • Activists stage a mock ritual to 'exorcise demons' outside the official residence of Sri Lanka's prime minister. AFP
    Activists stage a mock ritual to 'exorcise demons' outside the official residence of Sri Lanka's prime minister. AFP

Populist tax cuts and other policies introduced by the Rajapksa brothers since 2019, as well as the effects of the Covid pandemic and rising oil prices, have drained Sri Lanka’s foreign exchange reserves and caused rampant inflation and fuel shortages.

Sri Lanka's central bank chief warned this week that the island nation's economy was just days from “collapse beyond redemption” unless a new government was urgently appointed.

A month of relatively peaceful protests turned violent on Monday as Rajapaksa supporters and protesters clashed outside the president’s office. At least nine people died and more than 300 were injured as the violence spread across the country.

Mahinda Rajapaksa resigned the same day and has taken refuge at the Trincomalee naval base in Sri Lanka's east. He has been banned by a court from leaving the country.

Troops have largely restored order and a nationwide curfew has been in effect for most of the week.

Mr Wickremesinghe is seen as a pro-West free-market reformist, potentially making bailout negotiations with the International Monetary Fund and others smoother.

But it remains to be seen whether a new cabinet will be enough to calm public anger if Mr Rajapaksa continues to resist calls for his resignation.

“We will stop this struggle when our people get justice,” said Chamalage Shivakumar, one of the protesters.

“Whoever they appoint as prime minister, we will not stop this struggle until people get relief,” he told Reuters.

With reporting from agencies.

COMPANY PROFILE
Name: Akeed

Based: Muscat

Launch year: 2018

Number of employees: 40

Sector: Online food delivery

Funding: Raised $3.2m since inception 

Tips for used car buyers
  • Choose cars with GCC specifications
  • Get a service history for cars less than five years old
  • Don’t go cheap on the inspection
  • Check for oil leaks
  • Do a Google search on the standard problems for your car model
  • Do your due diligence. Get a transfer of ownership done at an official RTA centre
  • Check the vehicle’s condition. You don’t want to buy a car that’s a good deal but ends up costing you Dh10,000 in repairs every month
  • Validate warranty and service contracts with the relevant agency and and make sure they are valid when ownership is transferred
  • If you are planning to sell the car soon, buy one with a good resale value. The two most popular cars in the UAE are black or white in colour and other colours are harder to sell

Tarek Kabrit, chief executive of Seez, and Imad Hammad, chief executive and co-founder of CarSwitch.com

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

RESULTS FOR STAGE 4

Stage 4 Dubai to Hatta, 197 km, Road race.

Overall leader Primoz Roglic SLO (Team Jumbo - Visma)

Stage winners: 1. Caleb Ewan AUS (Lotto - Soudal) 2. Matteo Moschetti ITA (Trek - Segafredo) 3. Primoz Roglic SLO (Team Jumbo - Visma)

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street

The seven points are:

Shakhbout bin Sultan Street

Dhafeer Street

Hadbat Al Ghubainah Street (outbound)

Salama bint Butti Street

Al Dhafra Street

Rabdan Street

Umm Yifina Street exit (inbound)

Springsteen: Deliver Me from Nowhere

Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

Five expert hiking tips
    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you
Profile box

Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

If%20you%20go
%3Cp%3EThere%20are%20regular%20flights%20from%20Dubai%20to%20Kathmandu.%20Fares%20with%20Air%20Arabia%20and%20flydubai%20start%20at%20Dh1%2C265.%3Cbr%3EIn%20Kathmandu%2C%20rooms%20at%20the%20Oasis%20Kathmandu%20Hotel%20start%20at%20Dh195%20and%20Dh120%20at%20Hotel%20Ganesh%20Himal.%3Cbr%3EThird%20Rock%20Adventures%20offers%20professionally%20run%20group%20and%20individual%20treks%20and%20tours%20using%20highly%20experienced%20guides%20throughout%20Nepal%2C%20Bhutan%20and%20other%20parts%20of%20the%20Himalayas.%3C%2Fp%3E%0A
Types of policy

Term life insurance: this is the cheapest and most-popular form of life cover. You pay a regular monthly premium for a pre-agreed period, typically anything between five and 25 years, or possibly longer. If you die within that time, the policy will pay a cash lump sum, which is typically tax-free even outside the UAE. If you die after the policy ends, you do not get anything in return. There is no cash-in value at any time. Once you stop paying premiums, cover stops.

Whole-of-life insurance: as its name suggests, this type of life cover is designed to run for the rest of your life. You pay regular monthly premiums and in return, get a guaranteed cash lump sum whenever you die. As a result, premiums are typically much higher than one term life insurance, although they do not usually increase with age. In some cases, you have to keep up premiums for as long as you live, although there may be a cut-off period, say, at age 80 but it can go as high as 95. There are penalties if you don’t last the course and you may get a lot less than you paid in.

Critical illness cover: this pays a cash lump sum if you suffer from a serious illness such as cancer, heart disease or stroke. Some policies cover as many as 50 different illnesses, although cancer triggers by far the most claims. The payout is designed to cover major financial responsibilities such as a mortgage or children’s education fees if you fall ill and are unable to work. It is cost effective to combine it with life insurance, with the policy paying out once if you either die or suffer a serious illness.

Income protection: this pays a replacement income if you fall ill and are unable to continue working. On the best policies, this will continue either until you recover, or reach retirement age. Unlike critical illness cover, policies will typically pay out for stress and musculoskeletal problems such as back trouble.

Results:

6.30pm: Maiden Dh165,000 2,000m - Winner: Powderhouse, Sam Hitchcott (jockey), Doug Watson (trainer)

7.05pm: Handicap Dh165,000 2,200m - Winner: Heraldic, Richard Mullen, Satish Seemar

7.40pm: Conditions Dh240,000 1,600m - Winner: Walking Thunder, Connor Beasley, Ahmed bin Harmash

8.15pm: Handicap Dh190,000 2,000m - Winner: Key Bid, Fernando Jara, Ali Rashid Al Raihe

8.50pm: The Garhoud Sprint Listed Dh265,000 1,200m - Winner: Drafted, Sam Hitchcott, Doug Watson

9.25pm: Handicap Dh170,000 1,600m - Winner: Cachao, Tadhg O’Shea, Satish Seemar

10pm: Handicap Dh190,000 1,400m - Winner: Rodaini, Connor Beasley, Ahmed bin Harmash

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Karwaan

Producer: Ronnie Screwvala

Director: Akarsh Khurana

Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar

Rating: 4/5

Updated: May 13, 2022, 9:21 AM