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Dollar rate at SL banks today (Feb 15)

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February 15, Colombo (LNW): The Sri Lankan Rupee (LKR) indicates slight appreciation against the US Dollar today (15) in comparison to yesterday, as per the exchange rates released by leading commercial banks in the country.

At Peoples Bank, the buying price of the US Dollar has dropped to Rs. 307.44 from Rs. 307.69, and the selling price to Rs. 318.16 from Rs. 318.41.

As at 9 am this morning, Commercial Bank reveals that the buying and selling prices of the US Dollar remain unchanged at Rs. 306.99 and Rs. 317, respectively. These figures, however, may subject to change later today.

At Sampath Bank, the buying price of the US Dollar has dropped to Rs. 308 from Rs. 308.50, and the selling price to Rs. 317 from Rs. 317.50.

Former SLMC member reinstated after unjust removal

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February 15, Colombo (LNW): In a significant development, Professor Jayantha Jayawardana, previously ousted from the Sri Lanka Medical Council (SLMC) under former Health Minister Keheliya Rambukwella’s tenure, has been reinstated as an SLMC member.

The decision to reinstate him was made by the current Health Minister Ramesh Pathirana.

The reappointment ensures Prof. Jayawardana’s tenure for five years, as stipulated by the ordinance, unless voluntarily resigned or removed.

Expressing gratitude for his reinstatement, Jayawardana underscored the arbitrary nature of his prior termination.

He officially resumed his duties on February 14, 2024.

Last October, Prof. Jayawardana was abruptly removed from his position as the SLMC Vice President without justifiable cause, drawing criticism for the lack of transparency and adherence to principles of natural justice in the former Health Minister’s decision.

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‘Aswesuma’ Phase 2 applications open, targets 400,000 more beneficiaries

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February 15, Colombo (LNW): The application process for the second phase of the ‘Aswesuma’ welfare benefits scheme programme commences today (15), aiming the selection of an additional 400,000 beneficiaries.

Accordingly, applications can be submitted either online or through the Divisional Secretariats within a one-month period, Finance State Minister Shehan Semasinghe said.

He noted that the government intends to expand the ‘Aswesuma’ beneficiary base, currently nearing 2 million, to encompass up to 2.4 million individuals. The government anticipates allocating Rs. 205 billion towards welfare provision this year to facilitate this initiative, the Minister emphasised.

Furthermore, Semasinghe disclosed that starting January 2024, monthly allowances for disabled persons, kidney patients, and elderly citizens will be retrospectively increased.

Accordingly, allowances for kidney patients and disabled individuals will rise from Rs. 5,000 to Rs. 7,500, while the allowance for elderly citizens will increase from Rs. 2,000 to Rs. 3,000.

Last week, Semasinghe outlined plans to identify ‘Aswesuma’ beneficiaries eligible for these enhanced allowances within the first quarter of 2024, with increased payments scheduled to commence from April 01.

Moreover, the government has decided to extend payments to ‘vulnerable’ and ‘transitional’ social groups until December 31. These groups will eventually be amalgamated, with a total of 800,000 families designated as ‘vulnerable’ eligible to receive an allowance of Rs. 5,000.

Currently, the ‘transitional’ social group receives Rs. 2,500.

Today’s (Feb 15) weather: Showery conditions to occur in several provinces

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By: Isuru Parakrama

February 15, Colombo (LNW): Several spells of showers will occur in Eastern and Uva provinces and in Polonnaruwa, Matale, Nuwara-Eliya and Hambanthota districts, and showers or thundershowers may occur at a few places in Western, Sabaragamuwa and North-western provinces and in Galle and Matara districts after 2.00 p.m., the Department of Meteorology said in its daily weather forecast today (15).

Fairly strong winds about (30-40) kmph can be expected at times in eastern slopes of the central hills and in Northern, North-central, North-western, Uva and Eastern provinces and in Hambantota district, the statement added.

The 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 will occur at several places in the sea areas off the coast extending from Trincomalee to Hambantota via Batticaloa. Showers or thundershowers may occur at a few places in the sea areas extending from Puttalam to Matara via Colombo and Galle in the evening or night.
Winds:
Winds will be north-easterly and wind speed will be (30-40)kmph. Wind speed may increase up to 50 kmph at times in the sea areas off the coasts extending from Galle to Pottuvil via Hambantota, and from Colombo to Kankasanthurai via Puttalam.
State of Sea:
The sea areas off the coasts extending from Galle to Pottuvil via Hambantota and from Colombo to Kankasanthurai via Puttalam can be fairly rough at times. Other sea areas around the island can be moderate.

High Commissioner Rohitha Bogollagama meets with Minister of State (Indo-Pacific) Anne-Marie Trevelyan

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Sri Lanka’s High Commissioner to the United Kingdom Rohitha Bogollagama met with the Minister of State (Indo-Pacific) of UK Anne-Marie Trevelyan on 06 January 2024 at the Foreign, Commonwealth & Development Office of the United Kingdom.

The High Commissioner discussed with the Minister of State regarding the matters related to Sri Lanka-United Kingdom bilateral relations with a special emphasis on economic engagement. High Commissioner Bogollagama thanked State Minister Trevelyan for furthering Sri Lanka-UK relations and briefed her on his priorities during his tenure to enhance bilateral relations.

The High Commissioner also briefed State Minister Trevelyan regarding the reconciliation process in Sri Lanka and highlighted that State Minister’s expertise in this area would significantly contribute to Sri Lanka’s journey in reconciliation, recovery, and progressive development. The High Commissioner also briefed on the current developments in Sri Lanka including the debt restructuring with IMF assistance.

High Commission of Sri Lanka
London

13 January 2024

Government Approves Pilot Project to Integrate Artificial Intelligence into School Curriculum

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February 14, Colombo (LNW): In a significant move towards modernizing education, the Sri Lankan government, led by President Ranil Wickremasinghe in his roles as the Minister of Technology and the Minister of Education, has received Cabinet approval to introduce Artificial Intelligence (AI) courses into the school curriculum. The initiative, supported by Microsoft, aims to enhance students’ skills in AI and aligns with the government’s commitment to embrace technological advancements in education.

Transport, Highways, and Mass Media Minister Dr. Bandula Gunawardena, the Cabinet Spokesman, announced the decision during the weekly Cabinet media conference at the Government Information Department. The approval comes following a proposal put forth by President Wickremasinghe, and the Cabinet of Ministers endorsed the pilot project.

The decision to introduce AI courses in general education aligns with the recommendations of a task force appointed for the formation of a national strategy and plan related to Artificial Intelligence. In October 2023, the Cabinet of Ministers deemed it appropriate to implement the proposed courses, emphasizing the importance of integrating AI education into the curriculum.

As part of the strategic plan, a pilot project is set to commence, focusing on revising the international syllabus currently employed by the Microsoft Institute. The National Institute of Education will provide recommendations for the curriculum revision. The pilot project will initially be introduced for Grade 8 students in schools equipped with the necessary basic human resources.

To facilitate the project, selected schools will undergo digitization with support from the Microsoft Institute. Additionally, 100 Information and Communication Technology subject teachers will receive training as trainers through the Microsoft Institute.

Agriculture Ministry Introduces Free Insurance for Red Onion Cultivation

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February 14, Colombo (LNW): In a move aimed at supporting local farmers, the Agriculture Ministry of Sri Lanka announced on Monday (12) its decision to provide free insurance coverage for red onion cultivation. This initiative is part of the Agricultural and Agrarian Insurance Board’s ongoing efforts to safeguard the interests of farmers by offering free insurance for various crops.

Currently, the Agricultural and Agrarian Insurance Board already provides free agricultural insurance coverage for six types of crops, including paddy, chillies, big onions, potatoes, maize, and soya. The coverage extends to protect against crop damage caused by factors such as wild elephants, drought, and heavy rain.

With a renewed focus on expanding red onion cultivation in Sri Lanka this year, Agriculture and Plantation Industries Minister Mahinda Amaraweera directed the Agricultural and Agrarian Insurance Board to include red onion cultivation in the list of crops eligible for free insurance coverage. This decision aims to provide compensation to farmers in case of crop damage resulting from the specified factors.

The Agricultural and Agrarian Insurance Board has taken proactive steps to offer compensation, with an allocation of Rs. 40,000 per acre and Rs. 100,000 for one hectare of red onion cultivation. Minister Amaraweera emphasized the importance of promptly providing this compensation to farmers facing losses due to crop damage.

The announcement was made during a discussion held at the Agriculture Ministry on Monday, where Minister Amaraweera engaged with officials from the Agrarian Development Department and the Agriculture Ministry.

ikman revolutionizes selling experience with new Ad View Count feature

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February 14, 2024: ikman, Sri Lanka’s foremost online marketplace, recently announced the launch of its latest enhancement, the Ad View Count feature.

This innovative addition marks a significant milestone in ikman’s journey, reaffirming its commitment to transparency and user-centricity while empowering sellers with valuable insights into their ad performance.

The Ad View Count feature, now available to all ikman users, revolutionizes the selling experience by providing sellers with real-time visibility into the number of views their advertisements receive.

By offering transparency and actionable data analytics, ikman aims to optimize user interactions and foster a more engaged and informed online community.

Prominently, users can now get a glimpse into the lifetime view count of all Shop pages on ikman, enabling listed businesses to further reinforce their brand loyalty and prominence. 

Elmo Shanmugam, Senior Marketing Manager at ikman, shared his enthusiasm for the launch, stating: “I’m thrilled to introduce our latest feature enhancement, the Ad View Count. This addition is more than just a new functionality; it’s a testament to our unwavering commitment towards creating a transparent and efficient marketplace for our users.”

“By empowering our sellers with the ability to track how many views their ads receive, we’re not only enhancing their selling experience but also fostering a more informed and engaged buyer community. At ikman, we’re continuously innovating to meet the evolving needs of our users, ensuring that every interaction on our platform is straightforward, trustworthy, and effective,” he said.

With the Ad View Count feature, sellers gain valuable insights into viewer interest and potential demand, enabling them to optimize their listings for better results. This dedication to enhancing user experience and platform functionality further solidifies ikman’s position as the leading online marketplace in Sri Lanka.

The Ad View Count is only made available on the detailed ad view mode, and isn’t visible on the Search Engine Results Pages (SERPs). Furthermore, the Ad View Counts will be made visible after a period of 24 hours, for all new ads.

ikman invites users to visit its website at ikman.lk or the ikman App, to explore and utilize the new Ad View Count feature, empowering them to elevate their selling strategies and maximize their potential on the platform.

Japan and UNDP Launch Anti-Corruption Project to Strengthen Economic Governance

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February 14, Colombo (LNW): In a significant step towards addressing Sri Lanka’s socio-economic crisis, Japanese Ambassador Mizukoshi Hideaki and Azusa Kubota, Resident Representative of the United Nations Development Programme (UNDP) in Sri Lanka, officially launched the project titled ‘The Project for Promoting Economic Governance through Anti-corruption Policy Support’ in Colombo. The official signing ceremony, held yesterday and attended by senior government officials, marked the initiation of a collaborative effort to combat corruption and revive the country’s economic prospects.

The ongoing socio-economic crisis in Sri Lanka has led to a reversal of development gains, with transparency and accountability gaps identified as key contributors to the economic downturn. The new project aims to strengthen the anti-corruption ecosystem in Sri Lanka through time-bound, costed national policy reform, inter-stakeholder collaboration, and enhanced institutional capacity. The ultimate goal is to provide a roadmap for the country to transition from fragility to a resilient economy and a trusted democracy.

Supported by the Government of Japan through the Japanese Supplementary Budget (JSB) with a funding of 137 million JPY (approximately US$ 931,000), the project will be implemented by the Government of Sri Lanka and UNDP in Sri Lanka. The project focuses on strengthening legal and policy frameworks, improving coordination among institutions combating financial and tax crimes, and enhancing strategic skills and capacities to combat corruption.

Ambassador Mizukoshi highlighted Japan’s commitment to supporting Sri Lanka, stating, “Anti-corruption measures are conducive to a more business-friendly environment for foreign investors. Japan would like to support improvement in this sense and expects to see the expansion of our business relationship.”

The project’s targeted, time-bound capacity development within the anti-corruption ecosystem aims to ensure a comprehensive approach to combating corruption through prevention, investigation, and prosecution. This, in turn, is expected to contribute to efficient public service delivery, upholding the rule of law as a defense against corruption, and encouraging foreign direct investment crucial to Sri Lanka’s recovery.

UNDP’s Azusa Kubota emphasized the importance of accountable and transparent systems for effective reforms and economic restoration. She expressed gratitude to the Government of Japan, stating that the JSB support will serve as a catalyst for enhancing both individual and collective capacities in the fight against corruption.

The project’s interventions align with the achievement of Goal 16 of the Sustainable Development Goals (SDG16), promoting peaceful and inclusive societies for sustainable development and building effective, accountable, and inclusive institutions at all levels.

Sectoral Oversight Committee Examines Microfinance Crisis Impact on 2.8 Million Persons

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February 14, Colombo (LNW): The Sectoral Oversight Committee, chaired by MP Gamini Waleboda, convened in Parliament to address the repercussions of the economic crisis resulting from the microfinance turmoil in Sri Lanka.

During the recent committee meeting, representatives from organizations in Sri Lanka, advocating for those affected by microfinance loans, were summoned. Key stakeholders including officials from the Central Bank of Sri Lanka, Ministry of Finance, Economic Stabilization and National Policy, Department of Prosperity, Women, Child Affairs and Social Empowerment Ministry, and the Department of Registrar of Companies were present to discuss strategies for alleviating the impact of the crisis.

In a compelling revelation, Sri Lankan organizations representing the adversely affected individuals emphasized that a staggering 2.8 million rural persons, of which 2.4 million are women, have suffered due to the microfinance crisis. These findings, dating back to a 2018 survey, underscore the dire consequences faced by rural communities. Despite the loans being of a relatively small amount, the inability of rural borrowers to repay them, coupled with exorbitant interest rates of 38% to 48%, has plunged the lives of many rural women into misery. Additionally, the crisis has forced more rural women to seek employment in domestic roles in Middle Eastern countries.

The committee disclosed that the microfinance crisis primarily affected the largest group, which had obtained loans from six major non-banking financial companies under the Central Bank’s supervision. These institutions accounted for 80% of the total microfinance loans amounting to 84,000 million rupees. Disturbingly, it was revealed that the properties of those who obtained loans had already been seized, exacerbating the challenges faced by the aggrieved parties.

Despite the gravity of the situation, representatives of the affected parties pointed out that the proposed Bill fails to adequately address their concerns, leaving them to grapple with even more challenges in the aftermath of the microfinance crisis.