Colombo (LNW): The Asian Development Bank (ADB) has assured Sri Lanka of its positive stance towards new project proposals during a discussion with the country’s Prime Minister, Dinesh Gunawardena.
The focus of the discussion was Sri Lanka’s projected financial needs for upcoming projects over the next five years.
Recognising the nation’s swift economic rebound after a recent downturn, the ADB expressed interest in supporting projects related to digitalisation, IT, public transport, education, water management, and SME development.
The Prime Minister lauded ADB’s consistent support and outlined the government’s recent economic strategies.
The ADB team highlighted their strategic projects for Sri Lanka, with ADB’s Country Director emphasising the board’s upcoming evaluations and site visits.
The meeting was attended by significant figures from both the ADB and the Sri Lankan government.
Colombo (LNW): Despite the Ceylon Electricity Board’s (CEB) 150 per cent tariff increase, the board’s operational cash flow will be inadequate to meet its 2023 interest obligations, Fitch Ratings predicted.
A primary reason is the decrease in low-cost hydropower production during the year, a statement by Fitch said.
This reduction has forced the CEB to buy emergency power at elevated prices. Concurrently, as economic activities resume, energy demand has surged.
Although the CEB has sought an additional tariff rise to compensate for these expenses, approval is still pending.
Moreover, Fitch elevated CEB’s National Long-Term Rating and its senior unsecured debentures rating to ‘BB+(lka)’ from ‘B(lka)’, maintaining a stable outlook.
This decision follows the enhancement of the Long-Term Local-Currency Issuer Default Rating (IDR) for Sri Lanka on 28 September 2023.
Fitch clarified that CEB’s ratings, harmonised with Sri Lanka’s sovereign ratings, rely on the strong probability of state backing, given its status as a government-related entity.
It’s noteworthy that CEB holds a monopoly over Sri Lanka’s electricity transmission and distribution and is responsible for approximately 75 per cent of the nation’s power generation.
Colombo (LNW): The Sri Lankan Rupee (LKR) today (11) has slightly depreciated against the US Dollar in comparison to yesterday, as per the official exchange rates list issued by the Central Bank of Sri Lanka (CBSL).
Accordingly, the buying price of the US Dollar has increased to Rs. 318.02 from Rs. 317.91, and the selling price to Rs. 328.78 from Rs. 328.74.
Meanwhile, the Sri Lankan Rupee has also depreciated against several other foreign currencies, including Gulf currencies.
Colombo (LNW): Sri Lanka today (11) has taken over the chairmanship of the Indian Ocean Rim Association (IORA) at its 23rd Council of Ministers event in Colombo, led by Foreign Minister Ali Sabry.
A founder of IORA, Sri Lanka held the chair previously from 2003 to 2004. The recent council was significant for the full participation of all 23 Member States and 11 Dialogue Partners.
Saudi Arabia made its debut as IORA’s newest Dialogue Partner at this event.
Foreign Minister Sabry highlighted the importance of collaboration within the region and thanked the members for their unwavering support.
He mentioned Sri Lanka’s contributions to global peace and stability, including its role in the Bandung Conference and initiating a UN resolution declaring the Indian Ocean a Zone of Peace.
The discussions at the council centered around trade, maritime security, disaster risk management, and other priority areas.
The culmination of the meeting saw the adoption of the Colombo Communiqué, emphasising IORA’s goals and reiterating the commitment of the member nations.
The ministers also recognised Sri Lanka’s offer to host an IORA Leaders’ Summit in 2024.
Colombo (LNW): Senior Deputy Inspector General of Police (SDIG) Nilantha Jayawardena has been appointed as the acting Inspector General of Police (IGP) today (11), sources told LNW.
The High Commissioner of India to Sri Lanka H.E Gopal Baglay inaugurated Chitralekha – the first-ever art exhibition of Sri Lankan artists studied in India with the Secretary of the Ministry of Buddhasasana, Religious, and Cultural Affairs Somaratne Vidanapathirana at JDA Perera Art Gallery, Colombo today morning.
2. The exhibition features seven legendary master artists of Sri Lanka namely Ananda Samarakoon, Somabandu Vidyapathi, Ven. L.T.P. Manjusri Thero, George Keyt, Harry Pieris, Upasena Gunawardena and Bernard Lokuge, who had a close connection with Indian art traditions. Five masterpieces were provided by the National Art Gallery of the Department of Cultural Affairs and others were collected from the collections of the families and Swami Vivekananda Cultural Centre.
3. There is a total of 26 contemporary artists participated from all over Sri Lanka who studied in different universities of India including renowned artists like Winnie Hettigoda, Sarath Gunasiri Perera, S. Sivaruban, Susiripala Malimbada, Ramyawardena Podinilame, Rinuja Sivasangar and Dr. Manoranjana Herath. Most of them availed the scholarships of the Indian Council for Cultural Relations for their studies in India. A total of about 150 paintings are on display at the art exhibition, which is curated by Prof. Jagath Ravindra and Asanka Jayasinghe.
4. The cultural arm of the High Commission of India in Colombo, Swami Vivekananda Cultural Centre organised this exhibition commemorating the ongoing Year of India Alumni being celebrated by the Indian Council for Cultural Relations, as well as marks the significant milestones of 75 years of diplomatic relations between India and Sri Lanka and 25 years of establishment of the Swami Vivekananda Cultural Centre in Sri Lanka.
5. The inauguration event was attended by artists, art enthusiasts and a host of dignitaries. The Director of SAARC Cultural Centre Renuka Ekanayake and the Vice Chancellor of the University Prof (Dr.) Rohana P Mahaliyanaarachchi also attended the inauguration. The exhibition will remain open from 10 a.m. to 6 p.m. every day until October 12, 2023.
IBA condemns Hamas attacks on Israel which represent a clear violation of human rights and humanitarian law and urges for a just solution to be achieved between Israel and Palestine
IBA reminds Israel of need to adhere to international standards in its response
Statement by the President of the International Bar Association Almudena Arpón de Mendívil Aldama:
The International Bar Association (IBA) strongly condemns the heinous attacks on Israel by the militant group Hamas. These indiscriminate and targeted atrocities against Israeli citizens contravene an unequivocal, non-derogable prohibition under international law. The murder of civilians, the assaults, and the trespass into private homes to kill and maim are all internationally recognised crimes of profound gravity; the abductions and taking of hostages, including women, children and the elderly, are crimes in violation of human rights and humanitarian law.
Israel has an inherent right to self-defence from these unlawful attacks. However, in doing so, it, too, must ensure that civilian populations are shielded from harm and that military actions are conducted with a clear commitment to the international legal principles of distinction and proportionality.
The IBA, representing the global voice of the legal profession, urges all international institutions and governments to use their best diplomatic efforts to secure the release of the hostages, to prevent the escalation of violence in the region and to return to the peace tables so that a just solution is achieved between Israel and Palestine.
The Government Medical Officers Association had organized a protest today (11) based on several issues.
The protest was organized on the basis of issues such as the immediate withdrawal of tax amendments, the increase of limited benefits, the destruction of free education and government medical faculties, the increase of post-graduate study opportunities and the solution to the shortage of medicines and doctors.
After the protest started in front of the Colombo National Hospital, they were about to march towards the Ministry of Health when they were interrupted by the police.
In the midst of the police protest, the doctors had to march towards the Ministry of Health without displaying the protest placards and they protested in front of the ministry by displaying the placards.
The Cabinet of Ministers has given its consent to a proposal put forth by Ports, Shipping, and Aviation Minister Nimal Siripala de Silva for the submission of revised En-Route Navigation Facility Charges Regulations to Parliament. The Government Information Department has stated that these regulations, which pertain to aircraft flying through the Colombo Flight Information Region, were initially imposed in 1981 and have not undergone revisions during the intervening period.
In light of the policies of the International Civil Aviation Organization and current global aviation trends, the En-Route Navigation Facility Charges Regulations have been comprehensively revised. The revised regulations were officially published in Extraordinary Gazette No. 2319/64, dated 16.02.2023, under the title En-Route Navigation Facility Charges Regulations No. 01 of 2023.
A significant event occurred on October 10 at the Presidential Secretariat, where official grants from Japan to Sri Lanka were transferred through the United Nations World Food Program to support critical initiatives.
The ceremony was graced by Komura Masahiro, the Deputy Minister of Foreign Affairs of Japan, and Misukoshi Hideki, the Japanese Ambassador to Sri Lanka. Joining them were Sri Lankan officials, including President’s Senior Adviser on Economic Affairs, Dr. R.H.S. Samaratunga.
Deputy Minister Komura Masahiro expressed his delight in offering support to Sri Lanka during its recent economic crisis. He emphasized Japan’s unwavering commitment to being a reliable friend and partner to Sri Lanka.
Dr. R.H.S. Samaratunga, President’s Senior Adviser on Economic Affairs, conveyed his heartfelt gratitude to the Japanese government for their valuable assistance.
The government of Sri Lanka has been actively taking steps to alleviate the impact of economic challenges on vulnerable families. Key initiatives such as the Emergency Response Programme (ERP), School Meal Program (SMP), and National Social Security Programme have been instrumental in this endeavor.
Samaratunga also highlighted the 70-year-long diplomatic relationship between Japan and Sri Lanka, underscoring Japan’s consistent support. Under the World Food Programme, Japan has provided food items valued at $10 million.
Notably, Japanese aid under the Emergency Response Programme (ERP) has been targeted at the most economically vulnerable families, benefitting 145,000 households across Sri Lanka.
Samaratunga further noted that Japan has contributed 7,270 metric tonnes of food items to Sri Lanka. These items have been instrumental in sustaining the school meal program, benefiting 960,000 schoolchildren, which includes the provision of red lentils.
