Colombo (LNW): DP Coding School launched another pilot project in President’s College (National School) Mahara Kadawatha on June 09, 2023 for students to learn Python-based robotics.
42 students of Grades 5 – 12 attended the workshop and witnessed the experience of Python-based robotics.
Anyone interested can follow this course worth Rs. 2.4 million for free, and log on to dpcode.lk today, and if your child is expecting a career in the field of Information Technology, this would be a great opportunity.
Colombo (LNW): The Chief Justice has appointed a special Trial-at-Bar to hear the case filed over the murder of Ruling Party MP Amarakeerthi Athukorala and his security officer.
The bench was appointed at the request of the Attorney General’s Department, and comprises Justices Sahan Yapa Bandara, Rashmi Singappuli and Ruwan Pathirana.
MP Athukorala and the Police officer deployed for his security were assaulted and murdered in Nittambuwa on May 09, 2022, subsequent to the public unrest awakened by the assault on the Galleface protesters in Colombo.
The AG’s Office indicted 42 suspects before the High Court, and the case is to be taken up for hearing on June 19, 2023.
Colombo (LNW): The “Biparjoy” cyclonic storm which at the present has intensified into an extremely severe cyclonic storm over East-Central Arabian Sea was located near latitude 19.6 degrees North and longitude 67.6 degrees East at 1130 hours yesterday, and would move nearly northwards during the next 24 hours, warned the Natural Hazards Early Warning Centre of the Department of Meteorology.
Wind speed will be (150-160) kmph and can increase up to (170-180) kmph in sea areas bounded by (14N-24N) and (62E-72E) during the next 24 hours, a statement by the Centre said.
Heavy showers or thundershowers can be expected, and the fishing and naval communities, therefore, are advised not to venture into the sea areas bounded by the aforementioned coordinates.
Meanwhile, showers or thundershowers will occur at times in Western and Sabaragamuwa provinces and in Galle and Matara districts, and fairly heavy showers about 75mm are likely at some places in these areas, the Department of Meteorology said in its daily weather forecast today (13).
Several spells of showers will occur in North-Western and Central provinces, and showers or thundershowers will occur at several places in Uva province and in Ampara and Batticaloa districts during the evening or night, the forecast added.
Strong winds about (40-45) kmph can be expected at times in western slope of the central hills.
General public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershower.
Marine Weather:
Condition of Rain: Showers or thundershowers will occur at several places in the sea areas off the coast extending from Puttalam to Matara via Colombo and Galle. Winds:
Winds will be south-westerly over sea area around the island and speed will be (25-35) kmph.
Wind speed may increase up to (50-60) kmph at times in the sea areasoff the coast extending from Puttalam to Trincomalee via Mannar and Kankasanthurai and from Hambantota to Pottuvil. Wind speed may increase up to (40-50) kmph at times in the sea areasoff the coast extending from Puttalam to Hambantota via Colombo and Galle.
State of Sea: The sea areas off the coast extending from Puttalam to Trincomalee via Mannar and Kankasanthurai and from Hambantota to Pottuvil will be rough at times. The sea areasoff the coast extending from Puttalam to Hambantota via Colombo and Galle will be fairly rough at times.
Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
Chief Justice appoints a Special Trial-at-Bar at the request of the Attorney General to hear the case filed against 42 suspects over the murder of MP Amarakeerthi Athukorala and his Security Officer on May 9, 2022: case to be taken up on June 19.
Public Utilities Commission says the reduction of electricity tariffs from 1st July onwards would be in the range of about 3% from the current tariff.
SLFP Chairman Maithripala Sirisena informs that disciplinary action will not be taken against the 6 party members, including Nimal Siripala de Silva and Mahinda Amaraweera, who accepted Ministerial and State Ministerial positions.
Foreign investors’ high-interest loans to Govt via Treasury Bills & Bonds rises by USD 76.1mn last week at staggering interest rates of approximately 24% per annum: CBSL weekly data shows that such “hot-money” inflows have now reached nearly USD 650mn in the face of the rapid LKR appreciation and huge interest rates: warnings by economists and analysts in relation to such speculative investments, increase.
Index of Industrial Production in April 2023 decreases by a significant 8.2% to 80.1, compared to April 2022: mainly contributed by decreases in the manufacture of Wearing apparel (-30.5%), Other non-metallic mineral products (-27.8%) and Rubber and plastic products (-40.0%).
Department of Archeology DG Professor Anura Manatunga submits resignation from the post: last week, President Ranil Wickremesinghe pulled up the DG over an issue pertaining to the allocation of lands to an Archaeological site.
Reports suggest that the District Leaders of the SLPP had decided not to attend the meeting summoned by the President on Monday: according to Party insiders, the SLPP had noted that if such a meeting is being called for, the SLPP hierarchy must be informed.
Foreign Ministry spokesperson says it is considering reports about Sri Lankan refugees being held in Diego Garcia, a militarized atoll just south of the equator in the central Indian Ocean, since October 2021: also says the group has been given an opportunity to return to the country on their own will.
State Finance Minister Ranjith Siyambalapitiya says the Govt is expecting to fulfil all agreements reached with the IMF before September, notwithstanding allegations that the Govt has only fulfilled 25 out of 62 agreements reached with the IMF.
Ministry of Finance is reported to have approved the doubling of the price of a lottery ticket from 1 July to Rs.40 from Rs.20: President of the Lottery Agents’ Association Krishantha Marambe says that currently agents get a Rs.3.50 commission on a lottery ticket, and if lottery ticket prices are increased, their commissions too should be proportionately increased.
Colombo (LNW): Water supply will be disrupted for about 20 hours in several parts of the Western Province due to urgent maintenance work, announced the National Water Supply and Drainage Board (NWSDB).
Accordingly, water supply will be disrupted from 10 am tomorrow (13) until 6 am on Wednesday (14), to the following areas:
Gorakapitiya Siddamulla, Aruwwala, Rathmaldeniya, Maharagama – Piliyandala Road, Edirisinghe Mawatha, Moraketiya Road, Madawala Road, Bokundara Road, and all interconnected roads of the said areas.
Prime Minister Dinesh Gunawardena of Sri Lanka concluded a three day successful official visit to the Kingdom of Thailand from 31 May – 02 June 2023, at the invitation of the Rector of Mahachulalongkornrajavidyalaya University, Secretary General of International Council for the Day of Vesak (ICDV) and Executive Secretary of International Association of Buddhist Universities, Most Ven. Prof. Dr. Phra Dharmavajrabundit and President of ICDV, President of International Association of Buddhist Universities, member of Supreme Sangha Council of Thailand, Most Ven. Prof. Dr. Phra Brahmapundit, with the blessing of the Supreme Sangha Council and the Royal Thai Government for 18th United Nations Day of Vesak Celebrations 2023 under the theme, ‘Buddhist Wisdom Coping with Global Crises’ at Mahachulalongkornrajavidyalaya University (MCU) in Ayutthaya and United Nations Conference Centre(UNCC) in Bangkok and as a guest of the Government of Thailand.
On arrival at the Suwarnaboomi airport, Prime Minister Dinesh Gunawardena was received by the Director General Worawoot Pongprapapant of the Department of South Asian, Middle East and African Affairs of the Ministry of Foreign Affairs of Thailand and Ambassador of Sri Lanka and Permanent Representative to the UNESCAP C. A. Chaminda I. Colonne, spouse and staff of the Embassy and Permanent Mission of Sri Lanka in Bangkok.
Prime Minister Gunawardena delivered the keynote speech on ‘Buddhist Wisdom Coping with Global Crises’ at the 18th United Nations Day of Vesak Celebrations held at Mahachulalongkornrajavidyalaya University in Ayutthaya on 01 June 2023, which was presided over by His Holiness Somdet Phra Ariyavangsagatayana, Supreme Patriarch of Thailand and with 3,500 onsite audience. Prime Minister had discussions with the Supreme Patriarch prior to celebrations. Prime Minister also had brief interactions with leading monks from China, Myanmar, Lao PDR and Cambodia.
Prime Minister Gunawardena also visited Wat Dhammaram and Governor of Phra Nakhon Si Ayutthaya Niwat Rungsakorn welcomed him. Prime Minister gifted with artifact with Sri Maha Bo leaf to the Chief Abbot at the temple for the Upali Maha Thera Museum. Prime Minister also visited Chao Sam Phraya National Museum during his visit to Ayutthaya.
President of the Privy Council General Surayud Chulanont, representative of His Majesty King Maha Vajiralongkorn Phra Vajiraklaochaoyuhua, presided over the Opening Ceremony of 18th United Nations Day of Vesak Celebration 2023 at the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) in Bangkok on 02 June 2023 and Prime Minister Dinesh Gunawardena of Sri Lanka, welcomed him on his arrival at the UNCC. During the luncheon hosted in honour of Prime Minister by the Under Secretary General of the UN and Executive Secretary of the UNESCAP, Armida Salsiah Alisjahbana, both discussed on accelerating Sri Lanka’s cooperation with UNESCAP in achieving Sustainable Development Goals, Sri Lanka’s proposal on holding Climate Justice Summit in Colombo in October, 2023 etc.
Consolidating Sri Lanka’s longstanding excellent relations with Thailand based on Therawada Buddhist religious values, Prime Minister Gunawardena had Royal Audience with His Majesty King Maha Vajiralongkorn Phra Vajiraklaochaoyuhua and Her Majesty Queen Suthida Bajrasudhabimalalakshna at Amphorn Sathan Residential Hall, Dusit Palace on 02 June 2023. An invitation was extended by Prime Minister Gunawardena for His Majesty the King to visit Sri Lanka at a mutually agreed time.
Prime Minister Dinesh Gunawardena held bilateral discussions with Prime Minister Prayut Chan-o-cha of Thailand at the Government House of Bangkok on 31 May 2023. Deputy Prime Minister and Foreign Minister Don Pramudwinai and other senior officials of the Thai Foreign Ministry joined the discussions. The wide array of historical, political, economic and trade discussions, included current socio-political situations, Thai-Sri Lanka Free Trade Agreement scheduled to be signed in the first quarter of 2024, enhancing Thai Investment in Sri Lanka and Colombo Port city Project, BIMSTEC summit scheduled to be held in November, 2023, establishment of Theravada Buddhist Centre in Anuradhapura, Sri Lanka and temple to temple contacts, enhancing cooperation through ‘One Tambon/Village One Product’ (OTOP/OVOP) under Thai sufficiency economy philosophy, engagement with ASEAN etc. Prime Minister Gunawardena also thanked the Government of Thailand supporting Sri Lanka during recent political unrest and the crisis.
Prime Minister Gunawardena addressed more than fifty Thai investors at an investment Promotion Event ‘Invest in Sri Lanka’-now is the time, organized by the Embassy and Permanent Mission of Sri Lanka in Bangkok in collaboration with the Federation of Thai Industries, Tourism Council of Thailand, Board of Investment of Thailand, International Chamber of Commerce of Thailand and Thai Chamber of Commerce and the Board of Trade of Thailand on 31 May 2023 at the Mission premises. During the event the e-version of ‘Ready to invest opportunities in Sri Lanka’ in Thai language was launched by the Prime Minister. Chairman, Board of Investment (BOI) of Sri Lanka and Chairman/Colombo Port City Economic Commission (CPCEC), Dinesh Weerakkody, and other senior officials of the BOI and CPCEC joined the event virtually.
Prime Minister Gunawardena also had discussions with Energy Absolute PCL on their battery-powered locomotive, the Gem and Jewelry Traders Association and the Gems, Jewelry and Precious Metal Confederation of Thailand. Former Thailand Ambassador to Sri Lanka Poldej Worachat and his wife also paid a courtesy call on the Prime Minister.
Matichon and Khaosod News channels interviewed the Prime Minister Gunawardena and local media gave wide media coverage for the visit.
Minister of Buddhashasana, Religious, and Cultural Affairs Vidura Wickremanayake, State Minister of Piriven Education Vijitha Berugoda, Member of Parliament Yadamini Gunawardena, Ambassador of Sri Lanka and Permanent Representative to the UNESCAP C. A. Chaminda I. Colonne, Additional Secretary of Prime Minister’s office Deepa Liyanage, Honorary Advisor to the Prime Minister T. Rusiripala included in the Prime Minister’s delegation and joined discussions.
The International Council for Day of Vesak (ICDV), has consultative status with the United Nations Economic and Social Council (ECOSOC).
The thrice sacred days of Vesak celebrating the Birth, Enlightenment and Passing away of Buddha Gautama was recognized by the United Nations at its General Assembly in 1999. The first Event was celebrated at the United Nations Headquarters in New York in 2001.
Colombo (LNW): Director General of the Department of Archaeology Prof. Anura Manatunga has reportedly tendered his letter of resignation to the Ministry Secretary.
A copy of the letter has also been forwarded to Minister of Buddhist, Religious and Cultural Affairs Vidura Wickramanayake.
No reason has been provided from Prof. Manatunga’s end for the decision.
People’s Leasing & Finance PLC (PLC) has announced the proposed acquisition of a 33% stake in First Capital Holdings PLC(FCH), signaling the beginning of a new chapter of business growth through horizontal integration and diversification as a powerhouse of growth in the financial sector.
With the proposed acquisition which is subject to the approval of Central Bank of Sri Lanka and all other regulatory authorities applicable, PLC will be expanding their product and service offerings, resulting in enhanced revenue and profits streams that will benefit from FCHs’ expertise in areas such as Investment Banking, Wealth Management, and Securities Trading which are likely to be new areas of growth for PLC. The move will also enhance PLC’s competitive edge and consolidate its position in the financial services sector.
“As one of Sri Lanka’s largest non-banking financial institutions, Peoples Leasing & Finance PLC has the distinction of being a leader in leasing and related financial services. The acquisition will strengthen the Company’s offering in diversified financial services, enhancing the potential to reaffirm a firm foothold in the financial sector through a unique Public Private Partnership”, says Shamindra Marcelline, CEO/ GM – People’s Leasing & Finance PLC. “This move will strengthen combined synergies and enable PLC to access expertise in Investment Banking, Capital Markets and Wealth Management.
Recognized as a leading full-fledged Investment Banking Institution, FCH has achieved a unique position in the market for a comprehensive portfolio of service offerings including Primary dealing in Government Securities, Unit Trust Funds, Private Wealth Management, Corporate Debt, Corporate Advisory and Stock Brokering. FCH’s expertise is expected to complement and reinforce the financial competencies of PLC.
Managing Director/ Chief Executive Officer of First Capital Holdings PLC, Dilshan Wirasekara expressed his thoughts on this strategic investment stating,“ People’s Leasing & Finance PLC and First Capital Holdings PLC have set the path for strategic partnership and believe that the synergies of both organisations will bring core competencies together for accelerated growth of the financial services sector. PLC’s strong retail footprint will give us access to reach a wider audience and thereby fuel our vision of “improving the lives of all Sri Lankans through financial solutions”.
Commenting on the Corporate Finance arm of FCH he added that, “Through the Corporate Finance arm of FCH, funds can be better managed to maximize returns to our clients while minimizing risk exposure through the expertise stemming from FCH’s Asset Management business. This will enable PLC to optimize funding and asset-liability management, thereby expand the footprint in the monetary market and consolidate financial stability.”
In addition, FCH’s Asset Management business will support investing excess funds in a range of asset classes designed to provide attractive returns whilst managing risk. Furthermore, PLC’s collaboration with Lanka Alliance Finance Ltd in Bangladesh is likely to open doors to FCH to initiate a footprint in that country in the area of investment banking and capital markets, opening doors to new frontiers of expansion outside Sri Lanka. FCH will also benefit from being associated with a State Owned Enterprise (SOE) with a vibrant market presence, which gives them access to unique resources and strengths.
People’s Leasing & Finance PLC and First Capital Holdings PLC are committed to enhancing client experience while continuing to drive the economy and expand the potential of the financial services sector in Sri Lanka.
Colombo (LNW):Industrial production recorded week ending on Friday despite other economic indicators gradually are becoming negative, central bank announced.
Index of Industrial Production (IIP) in April 2023 decreased by 8.2 per cent to 80.1 compared to April 2022, mainly contributed by the decreases reported in the manufacture of Wearing apparel (-30.5 per cent), Other non-metallic mineral products (-27.8 per cent) and Rubber and plastic products (-40.0 per cent) During the period under review (03.06.2023 to 09.06.2023), crude oil prices showed a mixed performance. At the beginning of the week prices increased mainly owing to the supply cut announcement by Saudi Arabia as well as the OPEC+ decision to extend current supply cut plans till end 2024. However, prices remained volatile during the week due to uncertainty about the next decision of the Federal Reserve, before declining towards the end of the week with demand concerns over weak Chinese export data. Overall, Brent and WTI prices decreased by US dollars 1.36 per barrel and US dollars 1.63 per barrel, respectively, during the review period.
Weekly Average Weighted Prime Lending Rate (AWPR) for the week ending 09th June 2023 increased by 44 bps to 20.73 per cent compared to the previous week. The reserve money decreased compared to the previous week mainly due to the decrease in the deposits held by the commercial banks with the Central Bank. The total outstanding market liquidity was a deficit of Rs. 78.847 bn by 09th June 2023, compared to a deficit of Rs. 6.831 bn by the end of last week. By 09th June 2023, the All Share Price Index (ASPI) increased by 0.74 per cent to 8,818.39 points and the S&P SL 20 Index increased by 0.30 per cent to 2,494.68 points, compared to the index values of last week.
During the year up to 09th June 2023, the Sri Lankan rupee appreciated against the US dollar by 23.8 per cent. Given the cross currency exchange rate movements, the Sri Lankan rupee appreciated against the Japanese yen by 30.1 per cent, the pound sterling by 18.8 per cent, the Euro by 22.4 per cent and the Indian rupee by 23.4 per cent during this period.
The gross official reserves were provisionally estimated at US dollars 3,483 mn as at end May 2023 including the People’s Bank of China (PBOC) swap equivalent to around US dollars 1.4 bn, which is subject to conditionalities on usability.
Colombo (LNW): In his address to Parliament yesterday, MP Harsha de Silva shed light on the alarming state of poverty in Sri Lanka. Drawing upon the latest findings by LirneAsia, the MP revealed that a staggering 7 million Sri Lankans currently live in poverty, with approximately 4 million individuals, accounting for around 17% of the population, having fallen into poverty since 2019 thanks to misguided policies of Gotabaya Rajapaksha Government.
During his speech, MP Harsha highlighted the profound impact of this dire situation on the daily lives of families. He recounted the poignant words of a distressed mother who shared her struggle, saying, “I used to buy all the food she [referring to her 4-year-old baby] needed, but now I can’t even buy half of what I used to. Even a bun… She used to eat baby rusks, which used to cost Rs. 30.00, but now it’s around Rs. 140.” It is deeply concerning that 47% of households have been compelled to reduce their food consumption in order to make ends meet.
The consequences of poverty extend far beyond hunger. MP Harsha de Silva emphasized that in 27% of households, parents have been forced to sacrifice their own meals to ensure that their children are fed. Equally troubling is the fact that 6% of households with children aged 5-18 have been unable to send their kids to school. Quoting a survey participant, the MP revealed, “About half the boys in the nearby estate have dropped out of school. They take on odd jobs in the area and can earn about Rs. 200 if someone calls them.”
These distressing statistics underscore the urgent need to address poverty in Sri Lanka. MP Harsha de Silva called for a united effort among Members of Parliament to raise awareness and support initiatives aimed at alleviating this crisis. He emphasized that no child should go hungry or be deprived of an education. It is imperative that policymakers work diligently to make a meaningful difference in the lives of fellow citizens.
