- The Sri Lankan rupee has turned into Asia’s worst-performing currency from being the best in the first half of the year, and is poised to extend losses amid headwinds from interest-rate cuts and the loosening of import controls. The currency has tumbled more than 6% this month as it fell a 14th day on Monday, on track for its longest daily losing streak in almost five years, Bloomberg reports.
- A new committee of experts to be appointed to put forward proposals for the restructuring of Sri Lanka Railways. Department of Sri Lanka Railways has been recognised as an institution that needs to be restructured, in order to maintain the service at a precise level by minimising issues.
- The Cabinet has granted approval to enter an agreement with the World Bank to obtain US $ 200 million for welfare benefit. The scheme will be granted in three components, namely US $ 185 million for the ‘Aswesuma’ welfare benefit scheme, US $ 07 million for a pilot project to economically assist selected beneficiaries, and US $ 08 million to strengthen the entire project management and social security system under the project.
- Sri Lanka has marked a significant rise in its export revenue from the gems, jewellery, and diamonds sector, recording a 32% increase compared to the same period the previous year. The Chairman of the NGJA, Viraj de Silva, announced that the total revenue generated from gems, jewellery, and diamonds exports from January to the end of May 2023 reached US$ 222 million.
- The need for for continued cooperation among member states and the importance of further developing the public health sector in the region was emphasized on during the meeting between BIMSTEC Secretary-General, Tenzin Lekphell, and President Ranil Wickremesinghe.
- The Gazette notification issued earlier this year stipulating a Maximum Retail Price (MRP) for eggs will be withdrawn, according to the Ministry of Trade. The announcement comes following Trade Minister Nalin Fernando’s comments that the stock of eggs imported from India will be sold at Rs. 35 per egg at all Lanka Sathosa outlets from today.
- The All Party Conference (APC) convened by President Ranil Wickremesinghe to make the Party Leaders aware about the programmes implemented and programmes expected to be implemented with regard to the national reconciliation will be held in the afternoon today at the Presidential Secretariat.
- The Provincial Councils and the Local Government Ministry has decided to immediately confirm the 10,000 employees who have not been confirmed in the Local Government institutions.
- The proposed Sri Lanka – Thailand Free Trade Agreement (FTA) is expected to be signed in March 2024, in accordance with the action plan concerning the proposed agreement, Sri Lanka’s cabinet spokesman said. Sri Lanka and Thailand have held five rounds of talks on their trade agreement with the last in July.
- Sri Lankan-born Kalya Kandegoda Gamage, who is a South Otago student has become the youngest-ever winner of a Mountbatten medal yesterday (24), after the heroic rescue of his younger brother from heavy surf in New Zealand. He was presented with the Commonwealth Mountbatten Medal for bravery in a surf rescue, during a special assembly at Tokomairiro High School, in Milton.
