July 05, Colombo (LNW): Sumana Jayathilaka, a distinguished radio journalist and former Additional Director General of the Sri Lanka Broadcasting Corporation (SLBC), has passed away.
Sumana Jayathilaka was renowned as the inaugural presenter of the highly acclaimed “Handa Mama” programme on SLBC, where she was fondly known as Handa Nanda.
Her illustrious career in broadcasting began in 1963 when she joined SLBC as an announcer.
Over the years, she became a significant figure in Sri Lankan radio, culminating in her retirement as Additional Director General in 1984.
In addition to her professional achievements, she was married to the late author K. Jayathilaka. Sumana Jayathilaka’s legacy in the field of radio journalism continues to inspire many in the industry.
July 05, Colombo (LNW): David Sislen, the newly appointed World Bank Country Director for Sri Lanka, Nepal, and the Maldives, had a meeting with President Ranil Wickremesinghe at the Presidential Secretariat yesterday (04).
This gathering marked the beginning of Sislen’s tenure, which officially commenced on 1st July 2024.
The discussion was described as cordial and focused on various aspects of collaboration between the World Bank and Sri Lanka.
Vice President for the South Asia Region, Martin Raiser; Country Manager for Maldives and Sri Lanka, Chiyo Kanda; and Senior Advisor to the President on Economic Affairs, Dr. R. H. S. Samaratunga, also participated in the meeting.
Sislen, who joined the World Bank in 2001, brings a wealth of experience to his new role, having previously served as Practice Manager for Urban, Disaster Risk Management, and Land in the Latin American and Caribbean region.
His main priorities will include overseeing a portfolio of around US$ 4.8 billion and enhancing strategic dialogues and operational engagements with the involved countries.
The meeting highlighted the ongoing commitment of the World Bank to support Sri Lanka’s economic and development goals.
The discussions are expected to pave the way for strengthened cooperation, focusing on key areas such as economic reforms and infrastructure development, crucial for the country’s path to recovery and growth.
July 05, Colombo (LNW): State Minister of Finance Shehan Semasinghe announced that Sri Lanka has successfully concluded negotiations with the ad-hoc Bondholder Committee of International Sovereign Bonds (ISBs), reaching a consensus on restructuring terms.
ISBs represent $12.5 billion of the total $37 billion external debt. This agreement is a vital step towards restoring the country’s debt sustainability.
The restructuring terms now await approval from the official creditor committee and the International Monetary Fund (IMF) to confirm Comparability of Treatment and ensure compliance with Debt Sustainability targets.
This achievement signifies a significant milestone in Sri Lanka’s journey towards economic recovery and resilience.
It reflects the ambitious economic and governance reforms implemented by the government, aligning with global best practices.
These reforms are essential in creating a more robust and sustainable economic framework for the future.
July 05, Colombo (LNW): The funeral of former Opposition Leader and Tamil National Alliance (TNA) leader, R. Sampanthan, will take place in Trincomalee on Sunday (07).
Sampanthan, aged 91, passed away on Sunday.
The final rites will be performed according to Hindu customs at the Trincomalee Public Cemetery.
Originally scheduled for yesterday (04), the funeral has been postponed to allow the public additional time to pay their respects.
July 05, Colombo (LNW): A five-judge panel of the Supreme Court, presided over by the Chief Justice, is scheduled to deliberate on a Fundamental Rights petition filed by businessman C.D. Lenawa on Monday (08).
Lenawa’s petition seeks an interim order to postpone the announcement of the presidential election.
He requests that this delay remain in effect until the Supreme Court provides a definitive interpretation of the appropriate date for the election.
Previously, President Ranil Wickremesinghe remarked that he stands by the Election Commission’s declaration on the holding of the election, and that he was not consulted on such judicial affair.
July 05, Colombo (LNW): State Minister for Power and Energy, Indika Anuruddha, announced that the successful restructuring of national debt has paved the way for the resumption of previously halted energy sector projects, aiding in the resolution of the power crisis.
Addressing a media briefing at the Presidential Media Centre (PMC) under the theme “Collective Path to a Stable Country”, Minister Anuruddha highlighted attempts by opposition factions to undermine government initiatives aimed at national development.
The Minister detailed the following points:
“Several energy sector projects were suspended during the recent economic crisis. However, the signing of debt restructuring agreements with bilateral creditor nations has resolved legal impediments, enabling the restart of these foreign-funded initiatives. This achievement in debt restructuring is crucial in addressing the energy crisis.
Moreover, the Ceylon Electricity Board (CEB), the Public Utilities Commission of Sri Lanka (PUCSL), and the Ministry of Power and Energy have assessed the costs of generating electricity using rooftop solar panels. As a result, prices have been reduced, and a related cabinet proposal was submitted last week. This measure allows for the application of electricity purchase agreements at a lower cost, positioning the CEB to operate without incurring losses.
Additionally, feasibility studies and environmental reports for the Adani project are ongoing. Upon their completion, discussions will determine the project’s viability under current pricing conditions.
It has come to our attention that certain opposition parties are engaging in acts of sabotage to weaken the government’s development agenda, including spreading misinformation about the construction of power plants like Uma Oya and Sampur.”
July 04, Colombo (LNW): Sri Lanka’s world-famous Ministry of Crab is opening in Singapore on Jul 3 to a welcome carpet rolled out by seafood-loving foodies.
After a couple of sporadic pop-ups held here over the years, the crab-focused restaurant by global superstar chef and restaurateur Dharshan Munidasa, which already has outposts in Shanghai, Chengdu, Bangkok and the Maldives, has found a space at Dempsey Hill to make its own.
“Singapore made Sri Lankan crab famous for us. So, it was always our intention to come here,” Munidasa, 53,said “Coming here was always going to be a lot of fun. Scary, too. Singapore has the biggest consumption of mud crabs in the world, I think, per capita.
“But, we are not the same as the restaurants that you see in Singapore. We are not a Chinese restaurant; we are not a Sri Lankan restaurant, either. We are a Sri Lankan crab restaurant in Sri Lanka,” he said.
Munidasa, the son of a Sri Lankan father and Japanese mother, showcases the produce of Sri Lanka using techniques that stem from Japanese culinary ideas and practices. “Having a Japanese upbringing and Japanese blood in me, I think I look at it in a very different way, and the dishes we cook have certain philosophies, methods and techniques stemming from that. We are unique,” he said.
“And, also, the restaurant had its own amazing journey from being in Sri Lanka to becoming a world renowned Asia’s 50 Best restaurant, and I think I’m proud to be the only crab restaurant that got on that list.” (His other restaurant, Nihonbashi in Sri Lanka, has also featured on the list, by the way. And, he has a steakhouse called Carne Diem Grill in the Maldives.)
Consistently pictured brandishing a crustacean in each hand, anything Munidasa doesn’t know about crabs is not worth knowing. On top of that, he even had the patience to show us the best way to break the crab legs apart. A minister of crabs, indeed.
Ministry of Crab, consecutively listed on the Asia’s 50 Best Restaurants list from 2015 to 2022, takes its governance seriously. Because it is committed to serving the freshest seafood, the restaurant has a no-freezer policy. Working with its network of crab fishermen all around Sri Lanka, live, wild-caught crabs are flown in directly three times a week.
“That’s different from what other restaurants do,” Munidasa said, and, he added with full disclosure, “it will be a little bit more pricey because of that.”
July 04, Colombo (LNW): The Colombo High Court today (04) has mandated the freezing of 16 fixed deposit accounts and three insurance policies linked to the family of ex Health Minister Keheliya Rambukwella, following an application by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).
These assets, which belong to Rambukwella’s spouse, three daughters, and son-in-law, have a combined value of approximately Rs. 93.125 million.
The freeze will remain in effect for seven days.
The former Minister is currently in remand custody over allegations related to the procurement of substandard immunoglobulin injections.
The Bribery Commission secured the freezing order under Section 53(1) of the Anti-Corruption Act No. 09 of 2023, as part of an ongoing investigation under Section 42, which also extends scrutiny to the spouse and family members of the accused.
July 04, Colombo (LNW): Sri Lanka and Singapore explored the possibility to strengthen cooperation in maritime, port development and aviation sectors between the two countries.
High Commissioner of Sri Lanka to Singapore Senarath Dissanayake met with Minister for Transport and Second Minister for Finance of Singapore Chee Hong Tat, recently and discussed potential collaboration between the two countries on shared initiatives.
During the meeting, High Commissioner Dissanayake provided an overview of the opportunities in Sri Lanka, particularly in the maritime and port development sectors.
He detailed the Sri Lankan government’s plans to transform Colombo Port into a green and eco-friendly port by 2030, focusing on renewable energy sources and in line with the principles of a blue ocean economy.
Minister Chee Hong Tat highlighted Singapore’s efforts in maritime decarbonization and digitalization, aimed at enhancing efficiency, resilience, and sustainability in international shipping.
He emphasized the importance of a global network of ports using cleaner fuels to achieve these goals. The Minister added that ports in several countries, including China, Japan and Australia, are already part of the Green-Digital Shipping Corridor programme.
In response, the High Commissioner expressed interest in joining Colombo Port in Singapore’s Green-Digital Shipping Corridor initiative and acknowledged the potential for collaboration.
The Minister assured that he would explore the feasibility of a partnership between Sri Lanka and Singapore ports.
In addition, Minister Chee suggested that Sri Lanka could explore the possibility of producing Sustainable Aviation Fuel (SAF), leveraging its renewable energy potential. SAF represents a promising opportunity for the aviation industry, aligning with global sustainability goals.
High Commissioner Dissanayake, acknowledging Singapore’s advanced technological capabilities and innovative standards, requested support for training and knowledge transfer for Sri Lankan officials in the port and aviation sectors.
Recognizing the importance of exchanging expertise and fostering stronger ties in these key areas, the Minister mentioned that Sri Lanka could benefit from training programmes offered by various Singaporean authorities, including the Singapore Aviation Academy, the Maritime Training Facility and the Maritime Port Authority.
July 04, Colombo (LNW): Sri Lanka’s leading digital company, PickMe, has achieved a remarkable performance in FY24 as it marks its 10th anniversary.
The company saw its user base reach a new high, with the gross transaction value facilitated by the app increasing by 118% to Rs. 39 billion, reflecting the economic value generated for independent third-party drivers and merchants. Revenue doubled to Rs. 3.9 billion, driven by the growing adoption of PickMe Flash for on-demand delivery and PickMe bikes, showcasing significant interest and growth potential.
The company’s rigorous cost management coupled with strong top-line trends resulted in a pre-tax profit surge to Rs. 993 million from Rs. 69 million. Cash reserves exceeded Rs. 1 billion, with plans for strategic allocation to fuel future growth and ensure long-term shareholder returns. PickMe Chairman Ajit Gunewardene highlighted the company’s achievement of strong, profitable growth at scale, marking a pivotal inflection point.
Platform movements increased by 164% to 58 million in FY24, driven by a larger user base and higher engagement. Despite inflation, the platform’s innovative technology reduced average ride-hailing fares per kilometer by 11% year-over-year (YoY). Gunewardene attributed these efficiency gains to optimized resource allocation and streamlined experiences for both drivers and consumers.
Independent third-party driver utilization rates increased by 14% YoY, and average wait times for consumers decreased by 9% due to enhanced matching algorithms and optimized route planning. The logistics and parcel delivery segment also saw a 115% YoY growth, enhancing operational efficiency for small and medium businesses in Sri Lanka.
Playing a significant role in the nation’s economic recovery, PickMe’s two-wheeler trips grew from 0.7% to 5% of ride-hailing volume, becoming the fastest-growing segment and offering cost-effective mobility and earnings opportunities for bike owners.
Founder and CEO Jiffry Zulfer emphasized the central role of innovation, technology, and engineering excellence in PickMe’s mission to revolutionize mobility and delivery. As the digital ecosystem grows in importance, PickMe is positioned at the forefront of Sri Lanka’s digital economy, with plans to capitalize on mobility sector opportunities to ensure optimal stakeholder returns.
Chairman Gunewardene expressed confidence in the sustainability and profitability of last year’s momentum, supported by macroeconomic stability and the need for efficient resource allocation. The company is committed to continuous investment in innovation, maintaining agility, relevance, and technological advancement as its core strengths.
PickMe’s future is seen as integral to Sri Lanka’s digital progress, leveraging digitization to drive national development and ensuring the company’s people, engineering capabilities, and intellectual property remain unparalleled. The company aims to seize future opportunities and play a key role in the country’s digital transformation.
