By: Staff Writer

February 02, Colombo (LNW): The Colombo Plan, with funding from the US Embassy, on Wednesday launched a three-year program to enhance the technical expertise of Sri Lanka Ports Authority staff and advance “smart” port operations at the Port of Colombo.

The Colombo Plan and Sri Lanka Ports Authority signed a letter of intent at the launch and a memorandum of understanding will be extended in detail that contributes to the development and sustainability of maritime and port operations in Sri Lanka by introducing modern port systems, new technologies, and international best practices.

US funding supports Sri Lanka’s ports initiative to boost productivity and competitiveness, positioning its ports as crucial regional hubs in South Asia.

At the launch, US Ambassador to Sri Lanka Julie Chung reaffirmed US commitment to supporting the rapidly growing ports industry of Sri Lanka, noting: “In partnership with the Colombo Plan, the United States aims to enhance the knowledge, technical skills, and expertise of Sri Lanka Port Authority’s (SLPA) professionals through training on current trends, international best practices, and technological advancements in ports management.

The United States is committed to supporting Sri Lanka’s ports sector to meet the growing demands of the global economy, fostering economic prosperity for all Sri Lankans.”

Ports, Shipping and Aviation Minister Nimal Siripala de Silva, expressed gratitude for this supportive gesture and thanked the US Government for continuously helping Sri Lanka and the port sector.

The secretary to the Ministry mentioned that he has tabled the project to the cabinet of ministers as well.

The Colombo Plan capacity building program encompasses diverse training and development initiatives, such as visits to US ports, technical training exchanges, conferences, and workshops conducted by both local and international experts.

This collaborative effort aims to enhance the capabilities of ports, improving efficiencies and expanding the delivery of value-added services.

Launched in 1951, The Colombo Plan was created as a cooperative venture for the economic and social advancement of the people of South and Southeast Asia.

The Colombo Plan, based in Colombo, currently consisting of 28 member states, was instituted as a regional intergovernmental organisation for the furtherance of economic and social development of the region nations.

By: Staff Writer

February 02, Colombo (LNW): Sri Lanka Telecom has seen its leadership change for the second time in about seven months with the entity affirming the appointment of a new Chairman.

The stressed state-owned telco, which has been making headlines this week for the changes in its Board, disclosed to the Colombo Stock Exchange (CSE) that upon the review and recommendation of the Nominations and Governance Committee, A.K.D.D.D. Arandara has been appointed as a Non-Independent Non-Executive Director and Chairman with effect from 1 February.

The resignations by six Board members follows the President Ranil Wickremesinghe on 24 January directing the Treasury Secretary to reconstitute the SLT Board with immediate effect. The new Government members proposed are K.D.D.D. Arandara (Chairman), Dr. K.A.S. Keeragala, Dinesh Vidanapathirana, Prof. K.M. Liyanage, Dr. D.M.I.S. Dassanayake and Chathura Mohottigedara. Separately Rohan Fernando also resigned as Chairperson of eChanneling Plc, a subsidiary of SLT.

Global Telecommunications Holdings NV/Malaysia’s Maxis holds 45% stake and has four nominees on the SLT Board.

Analysts opined the resignations by some of the incumbent was interesting as previously it was anticipated they wouldn’t.

The reconstitution follows the Government not being happy with SLT-Mobitel challenging in Court the proposed merger between industry leader Dialog Axiata and Airtel especially with regard to spectrum issues with Telecommunications Regulatory Commission cited as a respondent.

Arandara, currently serves as the Additional Director General of the Department of Legal Affairs of the Treasury. He joined the public service in 2000 and has served as the Senior Assistant Secretary of the Ministry of Justice and Director General of the Consumer Affairs Authority.

He is a lawyer with 25-year experience in legal profession. He has also held the positions of board member of the Post Graduate Institute of Medicine, Sri Lanka Independent Television Network, Prima Ceylon, Sri Lanka Ayurvedic Corporation and currently serving at SriLankan Airlines.

Arandara was originally recommended as the new Chairman along with new set of six nominees as Government representatives to SLT Board. He replaces Reyaz Mihular who resigned along with five others.

Earlier this week, Reyaz Mihular stepped down from his position as Chairman after the government said it would reconstitute the SLT Board. The decision was due to the latter refusing to withdraw the case against the proposed merger between industry leader Dialog Axiata and Airtel.

Mid-last year, Mobitel initiated legal action against Telecommunication Regulatory Commission (TRC) and Dialog, Airtel among others stating that proposed merger and action to combine spectrum allocations and/or permit the combination of spectrum of Dialog and Airtel without surrendering the spectrum enabling TRC to reallocate it among the existing operators according to law.

Mobitel is of the view that failure by TRC would be illegal, wrongful, unlawful, arbitrary, unreasonable and capricious etc.

By: Staff Writer

February 02, Colombo (LNW): India’s billionaire business tycoon Gutam Adani’s 500 MW wind power deal in the island nation’s Northern Province should progress after a better negotiation process, Indian High Commissioner for Sri Lanka Santosh Jha said

It is a commercial venture by Adani. They would be the right people to answer the question,” Santosh Jha told reporters in Colombo at a meeting with senior journalists on Thursday (01).“It should progress,” he said when asked about the delays in the project.

Sri Lankan officials have said the Adani wind power project has been facing some delays as a Cabinet Appointed Negotiation Committee (CANC) has been raising concerns over the project components.

The US $442 million project was given to the Indian firm as an unsolicited deal after it was changed to a government-to-government deal with Adani Green Energy was issued provisional approval for two wind projects of 286 MW in Sri Lanka’s northwestern Mannar and 234 MW in the Northern Pooneryn.

The government has already explored the offshore wind power potential in the country especially in the North and East expediting two mega wind power projects of 286 MW in Mannar and 234 MW in Pooneryn under taken by Adani Green Energy Ltd for an investment of over US$ 500 million.

Adani Company has requested the government to include their claim for carbon credit in their project contract under Sri Lanka Carbon Crediting Scheme (SLCCS) established for supporting local clean projects to benefit from climate finance for the Greenhouse Gas emission (GHG) reduction, official sources said.

It has also demanded a government guarantee for their investment in the two projects or to keep shares of another state owned business enterprise as a surety for their money dumped in those projects.

Power and Energy Minister Kanchana Wijesekera disclosed that Adani Green Energy has been given approval to implement the projects in August last year and it has expressed commitment to complete the projects by December 2024.

A cabinet paper on the same projects, dated the 14th of August 2023 noted that it should be considered as a government-to-government arrangement.

This was the strategy adopted by the government to award the wind power projects in Mannar and Poonaryn, to Adani Green without calling for competitive bids and selecting the most beneficial deal, considering it as a government-to-government proposal.

As the cabinet had already considered all aspects of the agreement between the SL government and Adani Green Energy Ltd and “authorised all the parties to enter into the MoU and to proceed with the required future action,

 Sri Lanka’s cabinet has given greenlight to recruit a raft of technocrats to a committee that will assess the project.

However, sources who are privy of the ongoing negotiation have said the project approval is facing some delay in the negotiation process of the CANC.

The CANC has first raised concerns over pricing with the state-owned Ceylon Electricity Board (CEB) had said the unit cost for wind power under the project was expensive under the project.

Later, CANC had raised concerns over a 15% risk assessment on the project, sources have said.

February 02, Colombo (LNW): Richard Nuttall, Chief Executive Officer (CEO) of SriLankan Airlines, responded to concerns regarding flight delays, acknowledging that while delays are within global averages, an increase has been noted due to technical issues, according to a report by Daily Mirror.

Nuttall emphasised that flight delays are a common occurrence for every airline, and the reported delays, while in line with industry standards, are sometimes perceived as more significant than they are.

Drawing a comparison, he noted that delays experienced by other international carriers, such as Qatar Airways, might not receive the same level of media attention.

Highlighting SriLankan Airlines’ on-time performance, Nuttall stated that it surpasses the average performance of Oneworld carriers.

He explained that aircraft maintenance, particularly when dealing with Aircraft on Ground (AOG) situations, is regulated by strict manuals and checks and balances.

Nuttall pointed out a current challenge faced by the aviation industry, where delays are exacerbated by difficulties in obtaining spare parts promptly. He cited an example of a routine check in December where corrosion was detected, requiring the replacement of a part.

Traditionally, neighboring airlines could provide the spare part within 24 hours, but due to recent challenges, the required part had to be manufactured by an alternative organisation, extending the repair time from a standard 24 or 48 hours to two weeks.

The CEO clarified that such extended repair times are not unique to SriLankan Airlines and have been experienced by airlines globally. Nuttall referred to a challenging period in December, describing it as a “perfect storm” where multiple factors contributed to prolonged maintenance delays.

February 02, Colombo (LNW): The Sri Lankan Rupee (LKR) has further appreciated against the US Dollar today (02) in comparison to yesterday, as per the exchange rates of leading commercial banks in the country.

At Peoples Bank, the buying price of the US Dollar has dropped to Rs. 307.69 from Rs. 309.16, and the selling price to Rs. 318.41 from Rs. 319.94.

At Commercial Bank, the buying price of the US Dollar has dropped to Rs. 304.02 from Rs. 308.60, and the selling price to Rs. 315.00 from Rs. 319.50.

At Sampath Bank, the buying price of the US Dollar has dropped to Rs. 308 from Rs. 309.5, and the selling price to Rs. 317 from Rs. 318.50.