Colombo (LNW): A landslide in the Gavaranhena area of Balangoda on Sunday (12) has resulted in the reported disappearance of at least four individuals from the same family.
The Police are actively investigating to determine if they are trapped or if they had managed to evacuate.
The missing family includes a father, mother, and two daughters, and their current whereabouts remain unconfirmed, according to reports.
The landslide has caused damage to two houses, prompting authorities to take precautionary measures to evacuate residents in the area to safer locations.
Colombo (LNW): At the time of the national budget 2024 presentation in parliament Sri Lanka is now knocking at the door of a balance of payments crisis and for all intents and purposes seems to have passed the point where the problem cannot be solved by only raising policy interest rates, several eminent economists and rating agencies said.
Moody’s Investors Service said that Pakistan and Sri Lanka are among the South Asian countries that are most vulnerable to balance of payments (BoP) crises.
The international credit ratings agency issued the report citing low exports and the lack of foreign direct investment.
Moody’s said India was the least vulnerable country to BoP crises due to its larger and more diversified export sector, adding that New Delhi also had better macroeconomic policy management in place.
In its latest report, Moody’s said, “Bangladesh, Pakistan and Sri Lanka have much weaker infrastructure compared with India, contributing to high costs to trade,” adding that the South Asian nations’ market access to other countries is limited on account of them having fewer trade agreements.
Sri Lanka’s balance of payments slipped deeper into deficit in September 2023, after recording a marginal gap in the month before, official data showed.
Sri Lanka balance of payments surplus steadily increased to 2,078 million US dollars up to July 2023 but fell in August.
In September the surplus fell to 1,863 million dollars indicating a deficit of 171 million US dollars.
Analysts have warned that IMF programs tend to fail in the second year as rate cuts are enforced with money printed through open market operations, on the claim that inflation is low, as private credit picks up, even as budget deficits fall in real or nominal terms.
The rupee then slides, energy and food prices go up, the entire reform program is discredited and the government in power is ousted.
Sri Lanka’s private credit is still weak, but in August the central bank injected large volumes of money on a net basis in August by cutting the reserve ratio.
If the printed money is used to give credit or buy Treasury bills which are then spent by their recipients on imports, the new money will create a BOP deficit as the exchange rate is defended.
If the exchange rate is not defended the currency will fall and the reforms are discredited. Exchange rate instability also discourages private inflows and may then trigger flight of any capital that has come.
Colombo (LNW): The Sri Lanka Rupee (LKR) indicates a slight appreciation against the US Dollar today (13) in comparison to last week’s Friday, at leading commercial banks in the country.
At Peoples Bank, the buying price of the US Dollar has dropped to Rs. 321.67 from Rs. 321.92, and the selling price to Rs. 331.23 from Rs. 333.14.
At Commercial Bank, the buying price of the US Dollar has dropped to Rs. 320.49 from Rs. 320.99, and the selling price to Rs. 331.50 from Rs. 332.
At Sampath Bank, the buying and selling prices of the US Dollar remain unchanged at Rs. 322 and price Rs. 332, respectively.
Colombo (LNW): President Ranil Wickremesinghe is set to present the 2024 Budget to Parliament today (13), marking the country’s 78th Budget Speech.
The Second Reading of the Appropriation Bill for the fiscal year 2024 will occur at 12 noon on November 13, with the subsequent debate scheduled from November 14 to 21, excluding Sundays.
The vote for the Second Reading is planned for November 21 at 6.00 p.m.
Additionally, the committee stage debate will span from November 22 to December 13, excluding Sundays, with the vote on the Third Reading scheduled for 6.00 p.m. on December 13, 2023.
The estimated expenditure for this year’s budget is Rs. 7,326 billion, with Rs. 5,334 billion allocated for recurrent expenditure and Rs. 1,225 billion for capital expenditure.
The President discussed the budget’s final stage preparation at his official residence on November 12.
This marks his first Budget presentation following the interim budget presented after assuming the presidency.
Former PWC MD Sujeewa Mudalige says the tourism industry’s outstanding debt has swollen to an unsustainable level of Rs.700bn due to high interest rates: asserts the situation needs an urgent response from the Govt & banking sector: also says the interest rate policy of the Central Bank hurt several sectors very badly & the tourism sector will never be able to recover from the record interest rates of 2022/23.
SJB spokesman Mujibur Rahman alleges a section of the Wickremesinghe-Rajapaksa Govt seem to be raising funds for the next Presidential election at the expense of the country: points out that the recent increase in the Levy on imported white sugar from 25 cents per kg to Rs.50 was done immediately after the clearing of 8,500MT of sugar by certain importers.
United Postal Trade Unions Front convenor Chinthaka Bandara says their Unions have decided to launch a 48-hour strike in response to the Govt’s decision to sell the buildings where the Kandy and Nuwara Eliya post offices are located.
Secretary to the Ministry of Environment Dr Anil Jasinghe says the Chairman of the Central Environment Authority Supun S Pathirage who was arrested by the Bribery Commission has been suspended from service with immediate effect.
All-Island Private Pharmacy Owners’ Assn President Chandika Gankanda says the AIPPOA has called on the Govt to eliminate price controls on 60 identified medicines & implement a unified pricing formula for all medications based on their Cost, Insurance & Freight values: warns that if this is not done, SL is at a significant risk of losing access to high-quality pharmaceutical products.
Assn of Srilankan Airlines Licensed Aircraft Engineers says an unprecedented demand for skilled professionals from abroad, has resulted in an exodus of 25% from ALAE’S workforce in recent months: calls upon all stakeholders involved in the management of the national carrier to collaborate on a workable retention plan.
Dept of Information says the Govt has requested the public to update their mobile phone SIM Card registration to ensure that the details are accurate: say this is to be done ahead of a move to introduce a unique identity card to facilitate digitalization in taxation and other Govt services: SL has nearly 8mn more registered mobile phone numbers than its 22mn population.
All-time fast bowling great Waqar Younis says the performances of SL’s left-arm fast bowler Dilshan Madushanka is one of the silver linings in the SL team’s dismal performance at the Cricket World Cup 23.
SL Cricket Consultant-Coach Mahela Jayawardene attributes much of the team’s struggles to the types of pitches produced for domestic cricket in SL: laments these pitches didn’t allow batters to be in top hitting form on the flatter pitches in India: also laments the pitches didn’t teach the spinners how to handle conditions that required them to “work harder” for their wickets.
Cricket Captain Kusal Mendis says his team is apologising to the cricket-loving public of the country: insists that the team was not under any threats or external pressures to underperform during the World Cup.
On 28 and 29 October 2023, the Consulate General of Sri Lanka in Milan hosted the first ever ‘Sri Lankan Festival in Milan’ at Parco Sempione, Milan, under the patronage of the Municipal Council of Milan and in collaboration with the Sri Lanka Tourism Promotion Bureau. The event was a celebration of Sri Lankan heritage and culture, in the heart of Milan.
The festival welcomed a large number of visitors, including tour operators, media, professionals and general public, both Italians as well as Sri Lankan expatriates.
At the core of the Sri Lankan Festival was the mission to bridge cultures, promote the country among wider Italian community and create a platform for what the country has to offer to the world. The festival shared the unique beauty and diversity of Sri Lanka with the visitors in a platter that offered an assortment of colors, sounds and flavors, offering a glimpse into the rich Sri Lankan culture and heritage.
The two-day festival’s highlights included cultural performances ranging from traditional dance to music; culinary delights featuring authentic Sri Lankan dishes; an art and photography exhibition, demonstration of traditional Ayurveda and wellness treatments, Ceylon Tea tasting, handicraft, batik and handloom craft section, display of Sri Lankan precious and semi-precious gem stones; saree parade and fashion show, an enchanting traditional manor house furnished with antique Sri Lankan furniture, Sri Lanka tourism pavilion, a photo booth, exhibition and sale of Sri Lankan products; question and answer sessions with giveaways; and video presentations reflecting diverse aspects of the country.
In addition, an Italian author and an illustrator who published the book ‘Il ponte de Adamo’ (The bridge of Adam) on Sri Lanka in Italian language, shared their fond experiences in Sri Lanka.
An exhibition consisting of paintings of an Italian illustrator and a renowned Sri Lankan artist and photographs of an award-winning Sri Lankan photographer residing in Italy created a tapestry of splendors of Sri Lanka.
Five Sri Lankan Restaurants based in Milan demonstrated live cooking of a variety of Sri Lankan savory street food and sweet delights while the Consulate General office in Milan organized a stall for Ceylon Tea tasting and sampling with the courtesy of different private brands. Ceylon Artisan Tea Association also availed of this event to promote their unique products. Sri Lankan origin children born in Italy were briefing the visitors on the difference between Ceylon cinnamon and Cassia and of other spices Sri Lanka produces at the kiosk designated for spices.
Municipal Councillor Luca Costamagna, President of the Cultural Commission of the Municipal Council of Milan attended as the Guest of Honour of this two-day festival, while a number of officials from the municipal council of Milan and the Diplomatic Corp in Milan attended the inaugural ceremony. Addressing the gathering, Councillor Costamagna stated that this was a great opportunity to discover the unique aspects of Sri Lankan culture and stated that he looks forward to work together towards further strengthening cultural cooperation between the two countries. Consul General of Sri Lanka in Milan Dilani Weerakoon emphasized that ‘Sri Lankans have proven over and over again we are a resilient nation. Sri Lanka is not a country grappled with challenges only, but a land of harmonious contrasts, a land that glows with its beauty within diversities, a land with so much potential.’
The Consulate General of Sri Lanka anticipates to host this event annually and make it an integral part of the cultural calendar of Milan.
Colombo (LNW): Sri Lanka is eager for China’s robust support in advancing digital education through comprehensive education reforms, said Education Minister Susil Premajayantha, addressing an exclusive meeting with China’s Education Minister Huai Jinpeng, on the sidelines of the 42nd session of the UNESCO General Conference in Paris, France.
Premajayantha expressed profound gratitude for China’s unwavering support throughout history, enabling Sri Lanka’s ambitious journey towards becoming a nation propelled by innovation in transformative education processes.
The meeting extensively covered the progress of educational reform initiatives and development programs within Sri Lanka’s education sector. The two ministers engaged in a detailed discussion on the challenges currently faced by Sri Lanka in its developmental endeavors, exploring international solutions.
The focus was particularly on future measures to fortify the education system, ensuring its contribution to economic development and the anticipated achievements through strengthened bilateral relations.
Highlighting recent collaborations, the Minister pointed out that President Ranil Wickremesinghe had recently signed a Memorandum of Understanding (MoU) with China’s Huawei Institute, solidifying Huawei as a strategic partner for the digitisation of education in Sri Lanka.
He also underscored the invaluable support from Huawei, acknowledging their role in offering technical advice, knowledge exchange, and providing training and infrastructure, actions deeply appreciated by Sri Lanka.
Colombo (LNW): The Sri Lanka Police are urging the public to be cautious of misleading phone calls after a surge in reported cases of money fraud.
Scammers are making panic-inducing calls, falsely claiming emergencies like a child falling ill or someone having a sudden heart attack, the Police said in a statement.
The fraudsters instruct individuals to deposit money, targeting both relatives and workplace heads.
Some people have fallen victim to the scams, depositing varying amounts of money without verifying the legitimacy of the calls.
The police further emphasised the importance of reporting such incidents and advised the public to exercise caution and refrain from providing money or valuables to unknown callers.
Colombo (LNW): The low-level atmospheric disturbance over the island still persists, and therefore, showers or thundershowers will occur at times over most parts of the island, the Department of Meteorology said in its daily weather forecast today (13).
Heavy showers above 100 mm are likely at some places in Western, Sabaragamuwa, Central, Southern, Northern, North-Western, North-central and Eastern provinces, the statement added.
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 around the Island.
Winds:
Winds will be North-easterly or variable in direction and wind speed will be (20-30) kmph. Wind speed can increase up to (40-45)kmph at times in the sea areas off the coast extending from Puttalam to Trincomalee via Mannar and Kankasanthurai.
State of Sea:
The sea areas off the coast extending from Puttalam to Trincomalee via Mannar and Kankasanthurai will be fairly rough. The other sea areas around the island will be slight. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
