March 03, Colombo (LNW): The showery trend is expected to continue further across island, according to the Department of Meteorology.
In its daily weather forecast today (03), the Department said showers or thundershowers will occur at times in Eastern, Southern and Uva provinces and in Matale, Nuwara-Eliyaand Polonnaruwa districts.
A few showers may occur in Northern province and in Anuradhapura district, and showers or thundershowers will occur at several places elsewhere during the afternoon or night, the statement added.
Showers may occur in the coastal areas of Western province during the morning too.
Fairly heavy showers above 75 mm can be expected at some places in Western, Sabaragamuwa, Southern and Uva province and in Matale and Nuwara-Eliya districts.
The general public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.
Marine Weather:
Condition of Rain:
Showers or thundershowers will occur at several places in the sea areas off the coast extending from Batticaloa to Galle via Hambantota.
Winds:
Winds will be north-easterly to easterly and speed will be (25-35) kmph.
State of Sea:
The sea areas around the island will be moderate. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
March 02, Colombo (LNW): China has once again extended its financial and strategic support to Sri Lanka, providing much-needed economic relief through credit lines and grants.
These measures aim to help the island nation stabilize its economy, which has been struggling with a severe financial crisis.
A longside financial aid, Chinese investments in infrastructure, energy, and trade continue to play a crucial role in Sri Lanka’s long-term economic recovery.
China’s investment strategy in Sri Lanka has consistently focused on long-term benefits, even at the cost of short-term financial risks.
A notable example is the Hambantota Port, where a Public-Private Partnership with China Merchant Port Group was established in 2017.
Similarly, the Colombo Port City project highlights China’s commitment to large-scale investments, despite criticisms. These initiatives are seen as key drivers of sustainable economic growth.
The recent visit of President Anura Kumara Dissanayake to Beijing reinforced China’s commitment to Sri Lanka.
During the visit, 15 agreements were signed, covering economic development, education, media, and culture, aligning with China’s Belt and Road Initiative and Sri Lanka’s 2030 digital economy goals.
These agreements underscore China’s patient investment approach, designed to yield long-term economic benefits.
In another significant development, China’s Triumph Group, in partnership with local company Dilmah, is set to begin mineral processing operations in Aruwakkalu.
The project, approved by Sri Lanka’s Board of Investment, will be managed by Puttalam Ilmenite Ltd., which holds exclusive rights to mineral sands.
Triumph Group is a subsidiary of the China National Building Materials Group (CNBM), a Fortune 500 company with assets exceeding $87 billion and annual revenues of over $51 billion.
The minerals sector presents a valuable opportunity for foreign investment and industrial expansion in Sri Lanka.
However, issues such as policy instability, bureaucratic inefficiencies, political interference, and corruption have hindered the sector’s growth. A strategic foreign partner with expertise and a long-term vision is essential to ensure sustainable development in this area.
Despite securing government approvals, the Aruwakkalu mineral project has encountered difficulties due to access restrictions.
The land, controlled by the Sri Lanka Cement Corporation, requires official clearance for mining operations. In the past, such approvals have been influenced by political bargaining, delaying investment progress.
A petition regarding this issue is currently under review by the Supreme Court of Sri Lanka, following reports from
Transparency International and the Human Rights Commission. Allegations suggest that a former Sri Lanka Cement Corporation chairman, under political influence, granted mineral rights to Asha Minerals—an inexperienced company—without proper authorization.
The Attorney General has since intervened, objecting to the agreement, and the new government is expected to address these irregularities.
With the new administration’s commitment to fighting corruption and improving governance, the public eagerly awaits reforms that will unlock the true potential of the mineral sands sector and other industries.
As expectations rise, Sri Lankans hope that the government will act swiftly to eliminate corruption and create a more transparent and prosperous economic environment.
March 02, Colombo (LNW): Sri Lanka Telecom (SLT) Group, the nation’s leading telecommunications provider, recorded a remarkable financial turnaround in 2024, driven by operational efficiency and strategic cost optimization.
The company reported significant improvements across both fixed and mobile segments, demonstrating steady momentum throughout the year and reinforcing its position as a key player in the industry.
The Group posted a Profit after Tax (PAT) of Rs. 3.1 billion in 2024, a substantial recovery from the Rs. 3.9 billion loss recorded in 2023.
This represents an impressive turnaround of Rs. 7 billion. Total revenue grew by 4.4% to Rs. 111.1 billion, while gross profit surged by 19.6% to Rs. 46.1 billion.
The Group’s rigorous focus on cost efficiency led to a 4% reduction in operating expenses, bringing them down to Rs. 71.2 billion.
As a result, EBITDA improved by 23.7% to Rs. 40 billion, and operating profit saw an extraordinary increase of 172.8% to Rs. 11.2 billion. Finance costs were also reduced by 20.5% to Rs. 9 billion, further supporting the Group’s financial resurgence.
The strong financial performance was particularly evident in the fourth quarter of 2024, with revenue rising to Rs. 29.1 billion—an 11.9% year-on-year increase and a 1.8% sequential growth from Q3 2024.
Gross profit for the quarter soared by 50% to Rs. 12.9 billion, while EBITDA grew by 28.9% to Rs. 11.5 billion. Operating profit more than doubled to Rs. 4 billion. The Group’s Q4 PAT reached Rs. 2.4 billion, marking a 115% improvement from Q3 2024 and a stark contrast to the Rs. 1.2 billion loss in Q4 2023.
As a significant contributor to state revenues, SLT Group paid Rs. 31.5 billion in taxes and levies to the Government of Sri Lanka in 2024. At the company level, SLT reported steady growth with revenue increasing by 2.3% to Rs. 71.3 billion.
The broadband segment, particularly its Fiber-to-the-Home (FTTH) services, grew by 5.4%, while enterprise revenue surged by 11.8%. The government sector and SME segments expanded by 11.0% and 23.6%, respectively.
Cost optimization efforts led to a 2.2% reduction in operating expenses, with notable savings in maintenance and internet backbone costs. The company reported a net profit of Rs. 2.1 billion for the year.
In Q4 2024, SLT’s revenue rose by 3.9% to Rs. 18.3 billion, driven by broadband growth (10.2%), enterprise revenue expansion (11%), and increased contributions from government (14.3%) and SME sectors (20.9%). Operational efficiency improved, with a 17% increase in operating profit to Rs. 1.8 billion, supported by a 4.6% reduction in depreciation costs. Net profit for the quarter stood at Rs. 909 million.
Mobitel, the Group’s mobile arm, achieved a significant financial turnaround in 2024, with revenue increasing by 7.4% to Rs. 45.8 billion, supported by broadband expansion. EBITDA margin improved to 30%, reflecting revenue growth and cost optimization, while operating profit rose to Rs. 2.9 billion. Mobitel reversed its previous year’s net loss of Rs. 3.7 billion to record a net profit of Rs. 0.1 billion.
The fourth quarter saw exceptional results for Mobitel, with revenue growing 14.3% year-on-year to Rs. 12.3 billion. EBITDA increased by 137.1% to Rs. 4.6 billion, while operating profit surged by 478% to Rs. 1.8 billion.
Net profit for the quarter improved by 191.8% to Rs. 1.2 billion, with a 12.5% reduction in operating costs further strengthening the company’s financial standing.
Cementing its leadership in the mobile network space, Mobitel was recognized as Sri Lanka’s fastest mobile network in the Ookla Speedtest Awards for 2024, reflecting its commitment to expanding coverage and enhancing customer experience.
The SLT Group’s financial success in 2024 highlights its effective execution of strategic initiatives focused on operational efficiency and digital transformation. With a strong foundation in place, SLT-Mobitel is poised for continued growth in 2025, emphasizing the expansion of its digital services portfolio and sustained operational excellence.
March 02, Colombo (LNW): The tea industry, a cornerstone of Sri Lanka’s economy, faces growing challenges in sustainability, climate change, and evolving global regulations.
As one of the most renowned Sri Lankan tea brands, Dilmah has consistently contributed to the industry’s advancement through ethical sourcing, environmental responsibility, and community empowerment.
The company’s latest initiative, ‘Stronger Together,’ is a testament to its commitment to driving positive transformation across the entire tea supply chain, ensuring long-term sustainability and shared progress.
Launched in 2023, Dilmah’s Stronger Together initiative fosters collaboration across the tea sector, bringing together various stakeholders to align with global sustainability benchmarks.
The program, spearheaded by Dilmah and its parent company, MJF Group, focuses on enhancing industry standards and promoting knowledge-sharing among suppliers, logistics providers, and allied services.
By facilitating strategic partnerships, the initiative aims to equip the tea industry with the necessary tools to embrace sustainable practices collectively.
On February 27, Dilmah hosted its latest Stronger Together session at its headquarters, assembling over 100 stakeholders from key sectors, including shipping, packaging, IT, HR, and other allied industries.
Experts from renowned organizations such as KPMG and DHL shared insights on supply chain sustainability, providing valuable guidance on adopting greener practices.
The session took place shortly after the European Commission’s ‘Omnibus Simplification Package’ announcement, which seeks to ease sustainability reporting requirements while upholding the EU’s overarching environmental objectives.
A crucial aspect of Dilmah’s sustainability vision is its commitment to achieving net-zero emissions.
The company, along with its subsidiaries, has aligned with the Science Based Targets initiative, emphasizing the importance of reducing supply chain emissions, which account for 80% of its total carbon footprint.
By addressing sustainability challenges within its supply chain, Dilmah aims to enhance environmental accountability and future-proof its operations against evolving regulatory demands.
Dilmah Ceylon Tea Company Chairman and CEO, Dilhan C. Fernando, underscored the significance of sustainability, stating, “I
t is sustainability that is the strength and resilience of our organization and industry, and it is sustainability that will deliver the competitive edge for all of us.” Further reinforcing this vision, Global Strategic Corporate Sustainability Chairman and CEO, and Dilmah’s Non-Executive, Independent Director, Dr. Ravi Fernando, presented insights on global sustainability trends and the European Green Deal’s potential impact on Sri Lankan exporters.
The event also introduced Dilmah’s Supplier Partner Code of Conduct, which outlines seven key principles ensuring ethical and environmentally responsible practices throughout the supply chain.
Additionally, an online self-assessment tool is being developed to help suppliers identify compliance gaps and measure their emissions, fostering a more transparent and accountable approach to sustainability.
As global demand for sustainable products rises, education and awareness within the industry become increasingly vital.
Climate change vulnerability, stringent sustainability regulations, and evolving consumer preferences necessitate proactive measures to maintain Sri Lanka’s leadership in the global tea market; By prioritizing sustainability,
Dilmah not only strengthens its brand but also ensures the long-term viability of the tea industry, benefiting workers, communities, and the environment alike.
March 02, Colombo (LNW): Sri Lanka’s creative industry holds immense potential to contribute to the country’s economic growth and global recognition.
As digital marketing, advertising, and content creation continue to evolve, it is essential for local professionals to gain international exposure and mentorship to remain competitive.
Strengthening Sri Lanka’s creative sector will not only enhance its global footprint but also inspire innovation and drive new opportunities for creative professionals.
Recognizing this need, the Digital Marketing Association of Sri Lanka (DMASL) has taken a significant step by partnering with the prestigious London International Awards (LIA).
The DMASL has joined forces with LIA to provide Sri Lankan creatives with greater global exposure, mentorship, and industry recognition.
This two-year collaboration aims to open doors for professionals in advertising, marketing, and digital content creation by connecting them with influential leaders in the global creative industry.
As part of the initiative, DMASL will serve as LIA’s official representative in Sri Lanka, promoting awareness and participation in the awards while also providing access to Creative LIAisons, LIA’s exclusive mentorship program.
Through this partnership, emerging Sri Lankan creatives will have the opportunity to receive guidance from world-renowned industry experts via both virtual platforms and in-person sessions in Las Vegas, where the final awards ceremony will be held.
DMASL President Arjun Jeger emphasized that this collaboration is a milestone for Sri Lanka’s creative sector, offering global recognition and invaluable learning opportunities.
He highlighted the critical role of creativity in digital marketing and expressed DMASL’s commitment to fostering world-class creative talent in the country.
Laurissa Levy, LIA’s Creative LIAisons Director, welcomed Sri Lanka’s inclusion in the initiative, stating that the program will provide young talent with rare one-on-one mentoring sessions with top creative professionals worldwide.
She underscored the importance of such coaching in career growth, personal development, and industry leadership.
Additionally, DMASL members will gain access to LIA’s industry newsletter, offering insights into global creative trends, key events, and competition highlights. If Sri Lanka secures a jury representation at LIA, DMASL will play a pivotal role in nominating a qualified professional to represent the country.
This partnership marks a crucial step toward elevating Sri Lanka’s creative industry to a global standard, ensuring that local professionals receive the recognition and resources needed to thrive in the competitive digital landscape.
March 02, Colombo (LNW): A special exhibition of the Sacred Tooth Relic will take place at the renowned Sri Dalada Maligawa in Kandy on April 18, from 3.00 pm to 5.30 pm, providing devotees and visitors with a unique chance to view the sacred artefact.
Following this, the relic will be open for public viewing for ten consecutive days, from April 19 to 28, with daily viewing hours scheduled from 12.00 noon to 5.30 pm.
This rare occasion, announced by the Diyawadana Nilame, is expected to draw large crowds of worshippers and admirers of the relic, as it offers a once-in-a-lifetime opportunity for the public to pay homage to one of the most revered symbols of Sri Lankan cultural and religious heritage.
In anticipation of high visitor numbers, the organisers have made special arrangements to ensure smooth proceedings and to accommodate the expected influx of attendees.
The Sacred Tooth Relic, which is traditionally housed in the Sri Dalada Maligawa, holds great significance in the Buddhist world, and this special exposition is likely to be a significant spiritual event for both local devotees and international visitors.
Pilgrims from across the country and abroad are expected to visit the site to participate in the viewing, which will allow them to experience the sanctity and reverence associated with this historical artefact.
Authorities have indicated that all necessary measures will be in place to manage the crowd and ensure the safety and comfort of all those who come to pay their respects.
March 02, Colombo (LNW): Thundershowers accompanied by severe lightning are likely to occur at several places in Western, Central, Sabaragamuwa and Southern provinces and in Monaragala district, the Natural Hazards Early Warning Centre of the Department of Meteorology said in a warning this afternoon (02).
The statement added that the occurrence of temporary localised strong winds during thundershowers is a possibility, and urged the general public to take adequate precautions to minimise damages caused by lightning activity.
March 02, Colombo (LNW): In celebration of International Women’s Day on March 08, the Ministry of Women and Child Affairs has announced the commencement of National Women’s Week, running from March 02 to 08.
This initiative is aimed at recognising and honouring the significant contributions of women across Sri Lanka, whilst focusing on critical issues affecting their lives.
The theme for this year’s Women’s Day is “Strong she will be a pathway to build a sustainable future,” which underscores the importance of women’s resilience and their pivotal role in shaping a more sustainable and equitable future for the nation.
A variety of programmes will take place during the week, emphasising women’s health, safety, empowerment, and the promotion of technological skills, as well as raising awareness about gender equality and women’s rights.
A highlight of the week’s events will be the “Liya Shakthi” Women’s Fair, scheduled for 5th and 6th March at Viharamahadevi Park in Colombo. This fair is designed to empower women entrepreneurs by providing a platform to showcase and sell their products, as well as to foster an inclusive and supportive marketplace for their businesses.
The event will feature a range of goods and services produced by women, offering them a valuable opportunity to expand their reach and build connections in the business community.
The week’s festivities will culminate in the national celebration of Women’s Day, which will be held at the “Suhurupaya” Auditorium in Battaramulla. The event, overseen by Minister of Women and Child Affairs Saroja Savithri Paulraj and Deputy Minister Dr. Namal Sudarshana, will be held under the patronage of Prime Minister Dr. Harini Amarasuriya.
This event promises to be a significant occasion, bringing together women from various walks of life to reflect on their achievements and challenges, whilst also celebrating their strength and contributions to society.
March 02, Colombo (LNW): Two former Sri Lankan Army Intelligence officers, who were arrested on suspicion of their involvement in the 2008 abduction and assault of journalist Keith Noyahr, have been granted bail by the Mount Lavinia Magistrate’s Court.
Accordingly, the suspects were each granted two surety bails of Rs. 1 million.
The pair, aged 42 and 46, were apprehended on 1st March by officers from the Criminal Investigation Department (CID) in the Nawagaththegama and Elayapaththuwa police divisions.
Their arrests came as part of the ongoing investigations into the violent attack on Noyahr, which took place nearly 17 years ago.
The incident occurred on 22nd May 2008, when Noyahr, a respected journalist at the time, was abducted by a group of individuals and subsequently assaulted in a van in the Waidya Road area of the Dehiwala Police Division.
The assault shocked the nation and raised serious concerns about the safety of journalists in Sri Lanka.
The two suspects are both retired personnel from the Military Intelligence Corps (MIC), and investigations suggest they were allegedly involved in orchestrating or carrying out the assault.
They are residents of the Nawagaththegama and Ulukkulama areas. Despite the passing of years since the incident, the CID has continued its investigation, working towards uncovering the full details of the attack and identifying all individuals involved.
Whilst the suspects have been granted bail, the CID is expected to continue with their investigations.
March 02, Colombo (LNW): Fuel distribution across Sri Lanka is proceeding without disruption, confirmed D.J. Rajakaruna, Chairman of the Ceylon Petroleum Corporation (CEYPETCO), today (02).
The CEYPETCO’s operations are running smoothly, with fuel deliveries being made as per scheduled orders.
Rajakaruna assured the public that fuel stocks are being distributed as planned, with no delays or hindrances. “We have already processed around 500 fuel orders from the Western Province alone,” he said, indicating that the supply chain is functioning effectively.
The Chairman also addressed growing concerns about a potential fuel shortage, stating that there is no need for alarm.
“There will be no fuel shortage in the country,” he emphasised. “The only issue we could face would be if people start queuing at stations based on unfounded rumours.”
These assurances come after rumours of a fuel shortage began circulating following a decision by the CEYPETCO to discontinue a 3 per cent commission paid to petroleum separators involved in the fuel distribution process.
Whilst the move has sparked some anxiety among the public, Rajakaruna stressed that it has not affected the country’s fuel supply.
The CEYPETCO is urging the public not to panic or engage in stockpiling fuel, which could lead to unnecessary congestion at stations.
