August 03, Colombo (LNW): The Oriental Dance Club of Asian International School (AIS) has achieved a remarkable milestone by being awarded the Best Performance Achievement at the 6th Korat International Folklore Festival Thailand Cultural Expo. This prestigious event was part of the Korat International Horticultural Expo, recently held in Bangkok, Thailand.

AIS dancers enthralled the audience with their high standard of dancing, exceptional execution, and impressive choreography. Their outstanding performance during the six-day festival earned them the Best Performance Award, showcasing their discipline and dedication.

Through their vibrant and colorful performances, the AIS dancers exhibited the beauty and traditions of Sri Lanka’s performing arts. The Colombo International Dance Festival Association played a crucial role in providing this exposure and recognition, helping to promote Sri Lanka’s rich cultural legacy to the world.

The AIS drummers added significant flair to the performances with their live music, making AIS the only country to feature live music at the event. This unique element set them apart and brought a special energy to the festival.

The talented dancers were expertly choreographed by Suranga Abeysinghe and Harun Suseru, under the guidance of the Oriental Dance Teacher-in-Charge, Ms. Prasadika Ediriweera. Their hard work and creativity brought Sri Lankan dance traditions to life on an international stage.

The AIS crew was invited to this competition by the Korat International Folklore Festival and the Federation of Thai SME Nakhon Ratchasima, in collaboration with the Colombo International Dance Festival Association. This invitation provided an invaluable opportunity for AIS to showcase the rich cultural heritage of Sri Lanka.

This achievement is a testament to the talent and hard work of the AIS Dance Club, as well as the support and dedication of their mentors. It stands as a proud moment for the school and the entire country, celebrating the enduring beauty of Sri Lankan culture.

August 03, Colombo (LNW): President Ranil Wickremesinghe announced the immediate commencement of the “River for Jaffna” project, aimed at addressing the chronic water scarcity in northern Sri Lanka. This declaration was made during the inauguration of the Thalaiyady Seawater Desalination Plant, a component of the Jaffna-Kilinochchi Water Supply Project, on August 2.

Reflecting on the 15 years since the end of the civil war in the North, President Wickremesinghe emphasized the importance of ongoing collaborative development efforts. He expressed his ambition to transform the Northern Province into a developed region within the next 5-10 years.

The Thalaiyady Seawater Desalination Plant, managed by the National Water Supply and Drainage Board under the Ministry of Water Supply and Estate Infrastructure Development, is financially supported by the Asian Development Bank (ADB) and the Sri Lankan government. The plant is part of the broader Jaffna-Kilinochchi District Water Supply and Sanitation Project (JKWSSP), initiated in 2011 with backing from the ADB and the French Development Bank (AFD).

Currently, there are 2.5 million water connections nationwide, with the Water Supply and Sanitation Project aiming to add 60,000 new connections. The project’s primary goal is to provide safe drinking water to 300,000 people and improve sanitation facilities for 80,000 people in Jaffna and Kilinochchi districts. Since 2017, the project has completed the construction of 20 elevated water tanks, 186 km of water transmission pipelines, and 382 km of water distribution pipelines.

The contract for the desalination plant was awarded in January 2021, with the total project cost amounting to USD 266 million. The JKWSSP is expected to be completed by mid-2025.

President Wickremesinghe highlighted the significance of the new desalination plant, which will be the first of its kind in Sri Lanka. He expressed gratitude to the local residents who provided land for its construction and recommended establishing a separate Grama Niladhari Division for the village.

The establishment of the water purification plant is expected to significantly alleviate the drinking water issues in Jaffna. Future plans include the development of the Paliaru Reservoir to supply water to the Pooneryn area. The “River for Jaffna” programme, once fully implemented, alongside the desalination plant, aims to completely resolve the region’s water problems and restore the Vadamarachchi area to its former lush state.

To manage costs, the government plans to reduce expenses through solar energy projects and introduce Drip Irrigation Systems to promote modern agriculture. Additionally, efforts will be made to renovate the port of Kankesanthurai in collaboration with India, establish an investment zone at the former cement factory site, and develop Palali to boost tourism. The area’s potential for wind and solar energy production is expected to generate substantial income, contributing to Jaffna’s transformation into a developed region within the next 5-10 years.

President Wickremesinghe also noted that the provincial council has the capacity to establish universities in Jaffna, and urged unity in development efforts as the region moves beyond its war-torn past.

August 03, Colombo (LNW): The IMF announced yesterday that the recent Parliamentary approval of two significant pieces of legislation—the Public Financial Management Act and the Public Debt Management Act—will enhance fiscal discipline and prudent debt management, increasing transparency and accountability.

According to the IMF, developing a comprehensive debt management strategy and establishing a well-structured and integrated Public Debt Management Office will reduce the government’s financing risks.

In a statement following their visit to Sri Lanka from July 25 to August 2, 2024, the IMF delegation, led by Senior Mission Chief Peter Breuer, noted that the country’s recovery continues, with real GDP showing three consecutive quarters of expansion and growth accelerating to 5.3 percent year-on-year in the first quarter of 2024.

“The economic reform programme implemented by the Sri Lankan authorities is yielding commendable outcomes,” the statement said.

The delegation observed that inflation remains below the Central Bank of Sri Lanka’s (CBSL) 5 percent target and that domestic borrowing rates have declined. Their visit focused on discussing recent macroeconomic developments and the progress in implementing economic and financial policies under the authorities’ economic reform programme, supported by the IMF’s Extended Fund Facility (EFF) arrangement.

“Fiscal revenue collections increased during the same period. Going forward, these improvements need to translate into better living conditions for all of Sri Lanka’s people,” the statement added.

“With Sri Lanka’s knife-edged recovery at a critical juncture, sustaining the reform momentum and ensuring timely implementation of all program commitments are critical to cement the hard-won economic progress to date and put the economy on a firm footing,” the IMF emphasized.

However, the delegation stressed that maintaining macroeconomic stability and restoring debt sustainability require further efforts to raise fiscal revenues.

“The 2025 Budget needs to be underpinned by appropriate revenue measures and continued spending restraint to reach the medium-term primary balance objective of 2.3 percent of GDP—a key requirement for restoring Sri Lanka’s debt sustainability. The planned relaxation of import restrictions on motor vehicles will support revenue mobilization in 2025,” the statement noted.

The delegation also suggested that tax administration reforms could further improve compliance, including the establishment of a functioning VAT refund system for exporters by April 2025. “Any proposed measure eroding the fiscal position needs to be offset by compensating measures of high quality. Avoiding new tax exemptions will reduce corruption risks and fiscal revenue leakages, ensuring a more predictable and transparent tax system. Continuing to maintain energy prices at cost-recovery levels is critical to avoid potential fiscal costs. Protecting the poor and the vulnerable through improved targeting and better coverage of cash transfers remains essential. Policy slippages could jeopardize the recovery,” the statement concluded.

The home secretary, Yvette Cooper, is under mounting pressure to airlift a group of more than 60 Tamil asylum seekersfrom a remote Indian Ocean island to the UK.

The Tamils, a mix of single adults and children who are part of family units, have been stranded on Diego Garcia, part of the British Indian Ocean Territory (BIOT), since October 2021.

They had fled persecution in Sri Lanka and were travelling in a fishing boat hoping to reach Canada to claim asylum. But their boat developed a leak and they were rescued by the Royal Navy who took them to Diego Garcia, where there is a US military base, for what they thought would be a few days.

But almost three years later they remain there, with their fate uncertain. A letter detailing a mass suicide attempt involving 22 people was written by Paul Candler, the commissioner for BIOT, who works out of the Foreign, Commonwealth and Development Office (FCDO) in London.

Tessa Gregory, a partner at law firm Leigh Day, representing some of the Tamils, said: “The camp is in crisis. Sadly, news of the mass suicide attempt and self-harm is not surprising to those who are aware of the conditions there.

“This is a group of extremely vulnerable individuals who fled their country seeking only safety and freedom. It is imperative that the foreign secretary and home secretary act now to end this cruelty and bring all of those on Diego Garcia to the UK without delay.”

Sulaiha Ali, of Duncan Lewis Solicitors, representing others in the group of Tamils, said a “complete crisis” is now unfolding in Diego Garcia

“We hope that a decision to bring all the migrants to the UK is now made without further delay,” she said.

“The decision now seems to rest with the home secretary. These desperate men, women and children plead with her to make that decision expeditiously.”

Lawyers in the UK have mounted a legal challenge, claiming they are being unlawfully detained on the island, held in a fenced-in area the size of a football pitch. It is guarded by G4S officers, and there is limited access to areas beyond the fence. The case is due to be heard in September.

At a hearing on Friday, the acting judge of the BIOT supreme court, Margaret Obi, granted the asylum seekers extended bail to allow them to access more parts of the island. She said: “The situation appears to be deteriorating rapidly.”

The Tamils are reported to be living in rat-infested tents, with self-harm said to be rife, and amid claims of child sexual abuse.

On Thursday Candler sent a letter to the Foreign Office minister Stephen Doughty outlining the deepening crisis on the island.

He had initially requested that some, but not all, of the Tamils be urgently brought to the UK. Theforeign secretary, David Lammy, wrote to the home secretary on 16 July asking her to grant permission.

But as the situation on the island worsened after the mass suicide attempt by 22 Tamil men not part of family units, he sent another letter asking for everyone – 64 people in total – to be brought to the UK.

He warned Doughty of the risk of arson, riots and hunger strikes with the possibility of widespread disorder among those not in the initial group earmarked to be brought to the UK, as well as the reputational risk for the UK and Diego Garcia if action is not taken.

He urged Doughty to pursue his request urgently for all the Tamils on Diego Garcia to be brought to the UK with home office ministers. But there has not yet been a response to this request from the Home Office.

A government spokesperson said: “We are committed to finding a practical solution, which protects the welfare of the individuals involved and the integrity of Britain’s borders.”

https://www.theguardian.com/

August 03, Colombo (LNW): The final rites of the late Ven. Galaboda Gnanissara Thero of the Gangaramaya Temple will be conducted under state patronage on Monday, August 5, at the grounds adjoining the temple, as announced by the funeral committee.

The funeral committee also stated that the remains of the late Thero will be brought to the Gangaramaya Temple at 6:00 a.m. tomorrow, August 3, where it will lie in state for the public to pay their final respects until Monday, August 5.

Ven. Galaboda Gnanissara Thero, the Chief Sangha Nayake of the Colombo New Korale and Chief Incumbent of Hunupitiya Gangarama Temple in Colombo, popularly known as “Podi Hamuduruwo,” passed away today, August 2, at the age of 81. The Thero was reportedly receiving treatment at a private hospital in Colombo at the time of his passing.

August 03, Colombo (LNW): The Sri Lanka Tourism Promotion Bureau (SLTPB) has been honored with the “Best International Tourism Board” accolade at the Global Tourism Awards 2024, organized by Travel World Online (TWO). The prestigious event took place on August 2, 2024, at The Suryaa in New Delhi, India.

The Global Tourism Awards serve as a platform to honor and celebrate organizations that have made outstanding contributions to the tourism industry, shaping its landscape and driving positive change. With the industry’s leading experts as part of the jury, the awards promise to recognize the dedication and hard work of tourism professionals worldwide.

The event was expected to draw attendees from various sectors of the tourism industry, including travel agencies, tour operators, hospitality professionals, and government representatives. It promised to be an evening of celebration, networking, and recognition of the best in the business.

Travel World Online (TWO) organized the maiden edition of the Global Tourism Awards 2024, setting a benchmark for excellence in the tourism industry. The recognition of SLTPB highlights Sri Lanka’s significant efforts and achievements in promoting its tourism industry on an international stage.

August 03, Colombo (LNW): The Bank of Ceylon (BOC) is set to introduce new and emerging technologies, empowering ordinary citizens with access to financial services and pioneering digital banking solutions. 

Celebrating its 85th anniversary, BOC continues to be a pillar of strength for Sri Lankans, having transformed the banking experience for millions.

 One significant milestone announced during this celebration is the granting of 10,000 youth loans, highlighting BOC’s dedication to fostering young entrepreneurs and empowering future leaders.

BOC was honored as ‘The Bank of the Year – Sri Lanka’ by the prestigious Banker magazine and remains the only Sri Lankan bank listed among the Top 1,000 Banks in the world in 2024. 

This recognition underscores BOC’s sustained growth and customer confidence. BOC’s commitment to digital excellence was further acknowledged at the Technnovation Awards 2024, where it won the ‘Overall Award – Gold for Excellence in Digital Payments,’ as well as Gold awards for ‘Bank of the Year for Financial Inclusivity’ and ‘Best Common ATM Enabler of the Year.’

A standout initiative during the 85th year was the successful conclusion of the ‘Pita Pita Rata Thegi’ program, which rewarded Sri Lankan expatriates for securely remitting their foreign currency. The grand prize, a luxurious, fully furnished house valued at Rs. 30 million, was presented to the lucky winner.

As BOC celebrates 85 years, it reflects on its journey with pride and looks forward with determination to continue serving the country and its people. BOC’s mission has always been about more than banking; it focuses on empowering people and driving national development.

 The bank is committed to innovating and expanding its services to ensure that every Sri Lankan has the opportunity to thrive.

In the upcoming year, BOC is set to embrace new and emerging technologies and deepen its commitment to financial literacy, sustainability, and community development. 

The 85th-anniversary celebration was held at BOC’s Head Office in Colombo, featuring special religious sermons to bless the staff and customers. 

The event was attended by the Bank’s Chairman. Kavan Ratnayaka, General Manager/CEO Mr. Russel Fonseka, members of the Board of Directors, corporate and executive management, staff members, customers, and well-wishers. BOC’s branch network also celebrated the anniversary with their loyal customers and well-wishers.

BOC was established on August 1, 1939, by British Governor Sir Andrew Caldecott, allowing ordinary people and businesses to open accounts and use cheques for transactions. Today, it stands as a modern bank with technology at the core of its operations, dedicated to delivering exceptional experiences to its valued customers.

August 03, Colombo (LNW): The economic reform program in Sri Lanka has shown positive results, with three consecutive quarters of GDP growth and a 5.3% year-on-year increase in the first quarter of 2024, Senior IMF Mission Chief. Peter Breuer disclosed following the conclusion of his team’s vsit to review the progress of this initiative.    

He stated that Inflation remains under the Central Bank 5% target, and domestic borrowing rates have decreased. 

Gross international reserves rose by US $1.2 billion in the first half of 2024, reaching $5.6 billion, while fiscal revenue collections also increased. The focus now is on ensuring these improvements benefit all Sri Lankans.

As Sri Lanka’s recovery remains fragile, maintaining reform momentum and timely implementation of program commitments are essential to secure economic progress and stabilize the economy, he claimed. .

 To restore debt sustainability, increasing fiscal revenues is crucial. He noted that the 2025 Budget should focus on appropriate revenue measures and continued spending restraint to achieve a medium-term primary balance objective of 2.3% of GDP. 

The planned relaxation of import restrictions on motor vehicles will aid revenue mobilization, and tax administration reforms could enhance compliance, including the establishment of a functioning VAT refund system for exporters by April 2025. 

Avoiding new tax exemptions will reduce corruption risks and fiscal revenue leakages, ensuring a more predictable and transparent tax system. 

Maintaining energy prices at cost-recovery levels is vital to avoid potential fiscal costs, and protecting the poor through improved targeting and better cash transfer coverage remains critical.

The recent parliamentary approval of the Public Financial Management Act and the Public Debt Management Act marks a significant milestone in improving fiscal discipline and prudent debt management.

 Developing a holistic debt management strategy and creating a well-structured Public Debt Management Office will help reduce government financing risks.

 Maintaining price stability also requires safeguarding CBSL’s independence. Continued reserve accumulation and exchange rate flexibility are key priorities.

Recent amendments to the Banking Act and related regulations will help safeguard financial stability. Ensuring the banking sector is adequately capitalized will allow it to contribute to economic growth.

The National Anti-corruption Agenda, building on earlier governance plans, is a positive step. Implementing governance reforms outlined in the Governance Diagnostic Report is crucial to addressing corruption risks and correcting past policy missteps.

 Creating an enabling environment for these reforms is key to bolstering public confidence and facilitating their implementation.

Sri Lanka has made notable progress towards debt sustainability. The execution of domestic debt restructuring and agreements with the Official Creditor Committee and China EXIM Bank are significant milestones. 

The IMF has assessed the “Joint Working Framework” with the bondholder committee and provided feedback to the authorities and financial advisors. 

Swift resolution of remaining steps is encouraged to achieve debt sustainability and regain investor confidence. The IMF will continue to support Sri Lanka’s debt restructuring efforts.

August 03, Colombo (LNW): Uber, the largest ridesharing company globally, has entered into a partnership with Sri Lanka’s Tourism and Lands Ministry to promote Sri Lanka as a tourist destination to its Indian rider base. 

This initiative is in preparation for the upcoming Sri Lanka Tourism Promotion Bureau (SLTPB) roadshows in select Indian cities. 

The aim of this collaboration is to help rejuvenate Sri Lanka’s tourism sector, which has been severely affected by the COVID-19 pandemic and recent economic turmoil.

As part of the Memorandum of Understanding (MoU) signed between Uber and the Sri Lankan authorities, 

Uber will leverage its extensive platform to highlight Sri Lanka’s tourist attractions and culinary delights to its broad customer base in India, which is one of the largest sources of tourists for Sri Lanka. 

The promotional campaign will run over the next few months, coinciding with the SLTPB’s roadshows, which are designed to attract more Indian tourists to Sri Lanka.

Uber’s promotion strategy includes offering special promo codes to tourists, facilitating their access to safe and convenient transportation through Uber, and easy food and grocery deliveries via Uber Eats. 

Additionally, a contest will be organized by the Sri Lanka Tourism Board, in collaboration with Uber, offering five Indian citizens a chance to win an all-expenses-paid holiday in Sri Lanka for three nights and four days.

Chalaka Gajabahu, Chairman of the Sri Lanka Tourism Promotion Bureau, expressed optimism about the partnership, emphasizing that tourism represents a significant opportunity and source of hope for Sri Lanka.

 He highlighted the country’s beautiful landscapes, delicious food, direct-flight connectivity, and efficient rail network as key attractions. Gajabahu believes that Uber’s global presence can play a crucial role in promoting Sri Lanka to its customers, providing a familiar and reliable travel option for tourists.

Kaushalya Gunaratne, Uber Mobility Sri Lanka Country Manager, reiterated Uber’s commitment to the communities it serves. He expressed delight in partnering with the Tourism and Lands Ministry to aid in the revival of Sri Lanka’s tourism industry. 

Gunaratne highlighted the country’s potential, citing its scenic beauty, rich culture, and diverse culinary offerings. He emphasized that Uber aims to enhance tourists’ experiences by providing seamless connectivity within and between cities, along with a variety of local and international cuisines available on Uber’s twin platforms.

Tourism has been a vital contributor to Sri Lanka’s economy, accounting for 13% of the country’s GDP. The island’s rich cultural heritage, stunning landscapes, and pristine beaches have made it a favored destination for tourists worldwide. Prominent tourist spots include Galle, Kandy, Sigiriya, Yala National Park, and Nuwara Eliya.