February 21, Colombo (LNW): In a significant diplomatic move, Iranian Foreign Minister Hossein Amir-Abdollahian announced on Tuesday that Iranian President Ebrahim Raisi has received an official invitation to visit Sri Lanka. Amir-Abdollahian, who is currently in Colombo for talks with senior Sri Lankan officials, expressed that despite President Raisi’s busy schedule, the visit to the capital, Colombo, would be a priority for Iran.
The Iranian Foreign Minister’s visit to Sri Lanka underscores Iran’s strategic efforts to strengthen ties with the Indian Ocean island nation. The invitation extended to President Raisi signals a commitment to fostering diplomatic relations and collaboration between the two countries. The specifics of the visit, including dates and agenda, are expected to be further discussed in the upcoming diplomatic engagements between the two nations.
During the 37th APRC session, President Ranil Wickremesinghe declared Sri Lanka’s chairmanship until 2026 and expressed the government’s commitment to enhancing the country’s status as a leading exporter of agricultural products through rapid sector transformation. He underscored the crucial role of agriculture in steering Sri Lanka through past economic challenges and identified agriculture and tourism as key sectors for the nation’s prompt recovery.
Foreign Minister Ali Sabry engaged in a comprehensive discussion with Iranian counterpart Dr. Hossein Amir-Abdollahian during his official visit to Colombo. The talks addressed various concerns, with a focus on bolstering cooperation, particularly in the energy sector. Minister Sabry expressed their commitment to working closely and strengthening their partnership.
The Cabinet gives approval to President Ranil Wickremesinghe’s proposal for the formulation of a comprehensive draft bill on child rights. The President, acting as the Minister of Women, Child Affairs, and Social Empowerment, has directed the Legal Draftsman to prepare the composite act, incorporating the rights outlined in the UN Convention on the Rights of the Child alongside existing legal provisions for child rights protection.
Janaka Wakkumbura has been sworn in as the State Minister of Provincial Councils, Local Government and Environment before President Ranil Wickremesinghe at the Presidential Secretariat in Colombo.
The 14th round of negotiations between Sri Lanka and India on the Economic and Technology Cooperation Agreement (ETCA) are scheduled to be held in New Delhi, in the first week of March 2024.
The Ceylon Electricity Board (CEB) is expected to hand over the proposals pertaining to the revision of electricity tariffs to the Public Utilities Commission of Sri Lanka (PUCSL) within the next two days, Minister of Power and Energy Kanchana Wijesekera said.
The Minister of Labour and Foreign Employment Manusha Nanayakkara urges the management of the Sri Lanka Bureau of Foreign Employment and the Association of Licensed Foreign Employment Agencies to submit proposals and plans to completely stop sending Sri Lankan women overseas to work as housemaids.
The Cabinet grants approval to take the necessary measures for the English language to be considered for conducting legal proceedings and maintaining records in certain courts in Sri Lanka.
The Cabinet endorses a proposal to enhance maritime passenger transport between Sri Lanka and India. The approved measures include a reduction in deviation tax for passengers departing Sri Lanka on passenger vessels and ships to USD 5 and USD 20, respectively.
Sri Lanka Cricket (SLC) announces the schedule for Sri Lanka’s Tour of Bangladesh 2024. The all-format tour will comprise of two test matches, three T20 matches and three ODI matches.
February 21, Colombo (LNW):Showers or thundershowers may occur at a few places in Kalutara, Galle, Matara and Rathnapura districts in the evening or night.
Mainly fair weather will prevail elsewhere.
Fairly strong winds about 30 kmph can be expected at times in eastern slopes of the central hills and in North-central, North-western, Uva, Southern and Eastern provinces and in Matale and Kandy districts.
Misty conditions can be expected at some places in Western and Sabaragamuwa provinces during the morning.
The public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.
February 20, Colombo (LNW): The Sri Lankan Rupee (LKR) indicates further appreciation against the US Dollar today (20) in comparison to yesterday, as per the official exchange rates released by the Central Bank of Sri Lanka (CBSL).
Accordingly, the buying price of the US Dollar has dropped to Rs. 307.34 from Rs. 307.47, and the selling price to Rs. 317.16 from Rs. 317.29.
The Sri Lankan Rupee indicates similar pattern against several other foreign currencies as well.
February 20, Colombo (LNW): The United States expressed concerns raised by critics of Sri Lanka’s controversial Online Safety Act (OSA) on its potential for repression of free speech and impact on the country’s digital economy but is encouraged by the ongoing amendments process, a top US official said, calling for a consultative dialogue.
US Under Secretary for Public Diplomacy and Public Affairs Elizabeth M Allen said on Monday February 19 that her government has been engaged in discussions on the recently passed legislation both publicly and privately.
“The United States shares the concerns of journalists, influencers, and content creators, as well as people everywhere on the potential for repression of freedom of expression and the stifling of dissent that the online safety bill [unclear], and we are encouraged by the amendments process,” said Allen.
She made this remark in response to a question raised by a journalist at a discussion with media professionals in Colombo on ‘Global media space and its impact on democracy’, organised by the Sri Lanka Press Institute.
“We also share the concerns raised by technology companies in terms of their ability to operate freely in Sri Lanka,” Allen said, adding that the issue has as much to do with said companies’ terms of service as it does with Sri Lanka’s own digital economy and its ability to thrive.
“The digital economy is seen by everybody as a means to continue building Sri Lanka’s economic future, attracting investment, and preserving freedom of expression,” she said.
However, said Allen, the US remains concerned over the legislation as it currently stands and believes it is crucial that conversations around its amendment and also around the proposed anti-terrorism bill be consultative.
Much like the OSA, Sri Lanka’s proposed new Anti Terrorism Act which, which seeks to replace existing Prevention of Terrorism Act (PTA), has the target of much criticism both locally and internationally. Allen said the US fully supports inclusive consultations involving civil society, journalists, technology companies, and academics. Effective legislation can only be achieved by taking into account the perspectives of various stakeholders, an approach her government will continue to advocate for this approach, she added.
February 20, Colombo (LNW): Marking a major step in one of South Asia’s most transformative development projects, Sri Lanka’s first-ever downtown duty-free shopping complex is set to be opened in April this year.
Singapore-owned omnichannel retailer, One World Duty Free, and Port City Colombo have signed two agreements to operate the duty-free shopping complex in May 2024.
One World Duty Free (ODF) and the Colombo Port City Economic Commission (Commission) have taken a pivotal step in their alliance.
The connected agreements were ratified with ODF committing to a strategic partnership aimed at shaping Port City Colombo’s global trajectory.
The partnership was underscored with the formalisation of two critical agreements: an Authorised Person Agreement between ODF and the Commission and a lease agreement between ODF and CHEC Port City Colombo Ltd (CPCC).
These agreements, embodying their shared vision, lay the groundwork for ODF to transform Port City Colombo into an eminent global duty-free retail hub.
Taking to ‘X’ (formerly Twitter), the Belt and Road Initiative Sri Lanka (BRISL) said, “Colombo Port City duty free shop will be opened in April”.
In October 2023, the Sri Lankan government gazetted the requirements that need to be met in order to conduct duty-free retail business operations or duty-free shopping mall operations at the Colombo Port City.
According to the relevant gazette, published by President Ranil Wickremesinghe in his capacity as the Minister of Investment Promotion, an investor is required to devote a minimum of US$ 5 million to run a duty-free retail business and have international-level experience in duty-free trade operations, while an investor needs to devote at least $7 million to run a duty-free shopping mall business.
One World Duty Free Founder and CEO Keira Zhang said: “In our partners at Port City Colombo, we recognise a level of ambition which is perfectly aligned with One World Duty Free’s game-changing approach to duty-free retail.
The opportunity to showcase our credentials on the world stage and contribute to the creation of a landmark destination in Asia is a key milestone in One World Duty Free’s journey of progressive expansion across Asia.”
One World Duty Free (ODF) – Singapore-owned omnichannel duty-free operator – is set to develop and operate a 1,250 square metre duty free store at Port City Colombo, offering a curated mix of international brands spanning beauty, wellness, spirits and wines and fashion.
ODF’s first retail store outside of Singapore will be nestled within a 7,000 square metre shopping oasis, Port City Duty Free Mall, primly positioned amidst a throng of international prestige hotels and casinos that promise a diverse and affluent customer base of tourists, expatriates, and locals.
Construction of the ODF store commenced in mid-2023, with trading planned to kick off by early 2024.ODF Port City Colombo will offer travellers a purpose-built shopping environment enhanced by the company’s innovative approach to smart retail.
February 20, Colombo (LNW): In the wake of brimming tourism early this year, President Ranil Wickremesinghe paid an observation visit to Tangalle and Galle areas underscoring the government’s commitment to enhancing tourist facilities.
During the tour, President Wickremesinghe visited several tourist hotels, engaging with owners to understand their challenges first hand.
Amid a rejuvenated focus on revitalizing Sri Lanka’s tourism industry, Swift action was taken as the President addressed the concerns raised by the business community, liaising with relevant officials over the phone to devise solutions and gather input on industry development strategies.
The tourism sector in Sri Lanka faced a rapid downturn due to the COVID-19 pandemic and economic challenges. However, with the government’s new initiatives, there has been a significant surge in tourist arrivals.
Building on this momentum, the government aims to surpass the peak of 2.5 million tourists in 2017, with plans underway to achieve this milestone by 2024.
Sri Lanka’s tourism industry is experiencing a striking influx as the country welcomed over 100,000 tourists in the first 15 days of February, continuing to set an optimistic tone for 2024.
Accodibnf to Sri Lanka Tourism Development Authority (SLTDA) released provisional figures yesterday, indicating that 115,328 tourists were welcomed in the first half of the month, pushing the year-to-date (YTD) figure to 323,581.
This achievement exceeds the total arrivals recorded for the entire month of February in 2023 which was registered at 107,639.
Industry analysts said the sector is making significant strides toward its ambitious goal of 238,614 monthly arrivals for February, where 52% of this target has already been accomplished within the first half of the month.
The data also showed that the daily average arrivals have picked up to 7,689 in February so far, a stark increase compared to last year as well as to January which stood at 6,717
In a bid to attract high-end tourists, who spend $500 a day, the government has rolled out infrastructure development projects and innovative tourism promotion programs.
President Wickremesinghe exchanged ideas with the business community in Tangalle and Galle regarding these initiatives, receiving positive feedback on the transformative impact of the government’s programs on their operations.
The President’s itinerary included visits to tourist hotspots such as Seenimodara, Dikwella, Nilwella, Hiriketiya, Weligama, and Habaraduwa, as well as the Weligama Surf School along the south coast, where he assessed their activities firsthand.
Russia leads the arrivals during the first 15 days of the month with 16,701 visitors, followed by India with 15,220 and the UK contributing 11,548 arrivals. In addition, visitors from China, Germany, France, Poland, Australia, US and the Netherlands were also welcomed.
India maintains its position as the top tourist source market for Sri Lanka year-to-date (YTD), with a cumulative total of 49,619 arrivals, followed by Russia with 47,860, UK with 28,213, Germany with 21,671 and China with 20,587 arrivals. For 2024, Sri Lanka Tourism has set an ambitious target to welcome 2.3 million tourists and earn over $ 4.5 billion
February 20, Colombo (LNW): Sri Lankan Farmers have been deprived of insurance compensation for crop damages due to the failure to use Agricultural Information Management System (AIMS) properly, government audit office stated
Agreements had been reached with the International Finance Corporation (IFC) to formulate the new system to streamline the process of insurance compensation for crop damages.
Although the financial facilities of Rs.20 million had been provided to the board for this purpose and the board had spent Rs.23 million towards this end the system has not used for the compensation process and therefore the desired objectives had not been achieved, government audit observed.
The Cabinet has decided to allocate necessary provisions to compensate the farmers affected due to bad weather in the Yala Season last year, the government said.
It said about 53,965 farmers were affected and 58,770 acres of paddy and other crops were damaged in the 2023 Yala Season as a result of the inability to provide sufficient water due to bad weather conditions.
Farmers related to compensation for crop losses have not been identified and settled, it added.
Although Rs.70.8 million compensation paid to 8,185 farmers in the years 2017 and 2018 related to the Kethata Aruna insurance scheme run by the Board to provide reparation to farmers for crop damages with the objective of promoting agricultural products, have sent back by the commercial banks.
This was due to nonconformity in account numbers, names and ID numbers of farmers, the relevant farmers have not been identified and that balance had not been settled for 05 years, audit report highlighted.
Insurance certificates had not been given to farmers after reducing the insurance premiums, the report revealed.
An accident insurance premium of Rs.10.77 million was deducted from the compensation amount to be paid to 26,904 farmers for the 2021/22 season.
Although the accident insurance cover should be provided for a period of one year from the date of reduction, the insurance certificates had not been issued to 14,779 farmers even though 07 months had passed from the date of reduction.
Agricultural Information Management System (AIMS) is developed by the Agricultural and Agrarian Insurance Board (AAIB) with technical assistance from the International Finance Corporation (IFC) under the Global Index Insurance Facility (GIIF) – a multi donor trust fund.
AIMS is a pioneering step towards modernising the agriculture sector in Sri Lanka which consists of a web and mobile application to manage accurate data and streamline the operational aspects of the agriculture sector by connecting all stakeholders in to one hub, a high official of the agriculture ministry said.
It carries a centralised database that consists of farmer and farm field information along with geographical referencing, location data, weather data, irrigation system, fertiliser and many more details to facilitate the current requirements, he added.
Tourism in Sri Lanka is on a high growth trajectory following a boost in Sri Lanka’s potential as a must-visit destination. Visa free travel for tourists from China, India, Indonesia, Russia, Thailand, Malaysia and Japan has provided the right nudge for tourists to put Sri Lanka on the top of their travel bucket list.
Nationals from these countries planning to visit Sri Lanka need to apply for Electronic Travel Authorization (ETA) before arriving, subject to granting of visa free of charge. The scheme is valid until March 2024 while the visa is valid for 30 days, permitting double entry from the date of initial arrival to Sri Lanka.[1] However, industry sources believe that the boost in tourist arrivals may encourage the visa free travel scheme to be extended further.
Having welcomed 208,253 visitors in January this year alone, the highest in 4 years, the figures confirm a YoY increase of 103.1%. Tourists from India, Russia, the UK, Germany and China top the list with 28,493 arrivals in the first four days of February 2024, confirming a figure of 7,000 travellers a day. The tourist arrivals are led by Russia with a 15% market share while India holds second position with 4,123 travellers. UK was seen as the third best market, with 2,592 (9%) arrivals with Germany (1,977) and China (1950) following.[2]
A record number of tourists are visiting Sri Lanka – it was over 200,000 tourists during In January 2024 and during the first 12 days of February, the figure was almost 92,000[3]. Likely to receive 2 million visitors in 2024, the tourism sector could generate a revenue of USD 6 billion within the year.[4] Avanthi Colombage, Country Manager for Visa in Sri Lanka says that as visiting Sri Lanka becomes a veritable option for tourists, offering visa free travel will boost arrivals and consequently, the digital economy. Today’s travelers are well versed with digital payment options and would expect to be able to pay without cash anywhere, with the ease of use, safety and access of digital payments like they do around the world, she adds.
Colombage says that tourism is a key sector of economic activity for Sri Lanka, contributing significantly to our country’s income. It also requires the wider merchant ecosystem – from mom-&-pop stores to micro-businesses to large merchants – to broad base the acceptance of digital payments, whether online or offline. “Tourists visiting Sri Lanka can then rely on a convenient, smooth and safe payment experience during their stay here.”
The recent Global Travel Intentions Study by Visa, confirm that today’s travelers look for experiential travel and not merely visiting tourist hotspots – which makes ubiquitous, seamless and secure payment access critical. Developing Sri Lanka’s payment infrastructure and ensuring a variety of options to travelers wherever they go – from cards, contactless payments and QR code payments to online and ecommerce payments would enhance tourism.
It is critical to assure travelers of convenience and access even when they travel off the beaten path. Imagine, if backpackers and explorers can have the same seamless digital payment experience at a small grocery shop in a remote town of Sri Lanka, they would leave with not just vivid memories but a great positive experience.
There is still some way to go for Sri Lanka to be adept and advanced in digital payments. The insights from an IFC study on digital payments in the Sri Lankan retail sector showed that although usage of smartphones was high in our country, digital literacy was still low in areas outside the Western Province. [5]
Given the safety and seamless experience of using cashless payments, visitors also get the flexibility of paying in local currency and availing great offers on hotels, travel, retail, experiences etc. when they pay using cards. The ability to have great experiences, enjoy nature and the spirit of our island nation, combined with the convenience of paying digitally will go a long way in making for well-rounded enriching holiday experiences for tourists coming to Sri Lanka.
February 20, Colombo (LNW): The Sri Lankan Rupee indicates further appreciation against the US Dollar today (20) in comparison to yesterday, as revealed by leading commercial banks in the country.
At Peoples Bank, the buying price of the US Dollar has dropped to Rs. 306.46 from Rs. 306.71, and the selling price to Rs. 317.14 from Rs. 317.40.
At Commercial Bank, the buying price of the US Dollar has dropped to Rs. 306 from Rs. 306.25, and the selling price to Rs. 316 from Rs. 316.25.
At Sampath Bank, the buying and selling prices of the US Dollar remain unchanged at Rs. 307.50 and Rs. 316.50, respectively.
