The Sri Lankan Rupee has maintained its stability against the US Dollar at commercial banks in Sri Lanka today (July 19), showing minimal fluctuations compared to the previous day.

At Peoples Bank, the buying and selling rates for the US Dollar remain unchanged at Rs. 314.34 and Rs. 329.80, respectively.

Commercial Bank reports a slight decrease in the buying rate of the US Dollar, moving from Rs. 315.99 to Rs. 315.22, while the selling rate remains steady at Rs. 327.50.

Sampath Bank, on the other hand, maintains the same buying and selling rates for the US Dollar at Rs. 315 and Rs. 328, respectively.

The steady performance of the Sri Lankan Rupee against the US Dollar indicates a stable exchange rate environment at commercial banks, providing stability and confidence in foreign currency transactions.

While fluctuations may occur in the currency market, the current rates demonstrate a relative stability in the exchange rate between the Sri Lankan Rupee and the US Dollar.

President Ranil Wickremesinghe is set to embark on an official visit to India on July 20 and 21, following an invitation from Prime Minister Narendra Modi. The visit holds significant importance as both nations commemorate the 75th anniversary of their diplomatic ties this year.

During his visit, President Wickremesinghe will engage in bilateral discussions with Prime Minister Narendra Modi, Indian President Droupadi Murmu, and other esteemed Indian dignitaries. The meetings will cover a wide range of topics pertaining to mutual interests between the two countries.

This visit aims to further enhance and solidify the longstanding bilateral relations between Sri Lanka and India. It provides an opportunity to deepen cooperation, explore new avenues of collaboration, and foster closer ties in various areas of common concern.

Cabinet Spokesperson and Media Minister Dr. Bandula Gunawardhana highlighted the significance of the President’s visit, stating that it will contribute to finalizing the necessary steps to establish a Memorandum of Understanding between India and Sri Lanka at the diplomatic level. Minister Gunawardhana further emphasized that discussions will encompass crucial matters such as debt restructuring programs, economic progress, social development, and cultural exchanges.

Acknowledging India’s significant support during the COVID-19 pandemic and economic crises, the Cabinet spokesperson expressed gratitude and emphasized that the visit will facilitate opportunities for further collaboration and cooperation.

The official visit of President Ranil Wickremesinghe to India signifies the commitment of both countries to strengthening their bilateral ties and fostering a constructive partnership for mutual growth and development.

The Education Ministry has revealed the term schedule for Government schools and Government approved private schools, with the first school term of 2023 set to conclude on July 21 (Friday). Following this, the first phase of the second school term will commence on Monday, July 24.

In accordance with the Education Ministry’s directives, all term tests for the first term of 2023 must be finalized by July 21 (Friday), allowing for a smooth transition into the next phase of education.

This announcement provides clarity to students, teachers, and parents regarding the academic calendar and enables schools to effectively plan their educational activities. The Education Ministry’s proactive approach emphasizes the importance of structured term schedules for efficient teaching and learning.

By adhering to these term dates, Government schools and Government approved private schools can ensure a consistent and organized academic year, promoting a conducive environment for students’ educational growth and development.

The Criminal Investigation Department (CID) has received court approval to investigate nine bank accounts linked to Pastor Jerome Fernando, who recently sparked outrage with controversial remarks made during a sermon. Colombo Fort Magistrate Thilina Gamage granted the order on Tuesday (18 July) following a motion filed by the CID.

The investigation will encompass multiple banks, including People’s Bank, Sampath Bank, HNB, DFCC, HSBC, NDB, and Seylan Bank, where the accounts associated with the self-proclaimed ‘prophet’ were opened. The probe will cover both Fernando’s personal accounts and those belonging to his private firm, church, and wife, Melanie Dianne Vancuylenberg.

Fernando’s sermon, which involved derogatory statements about Buddhism, Christianity, Hinduism, and Islam, sparked widespread controversy, leading to the CID launching an inquiry into the matter on 15 May, as directed by President Ranil Wickremesinghe.

Despite the CID’s request for an overseas travel ban against Fernando on 16 May, the pastor had already departed for Singapore on 14 May and has yet to return to the country. The ongoing investigation aims to shed light on the financial activities and potential implications surrounding the controversial religious figure.

Showers will occur at times in Western and Sabaragamuwa provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts.

Several spells of showers will occur in North-Western province.

Mainly fair weather will prevail elsewhere over the Island.

Strong winds about (40-50) kmph can be expected at times in western slopes of the central hills, Northern, North-Central and North-western provinces, and in Monaragala, Hambantota and Trincomalee districts.

By: Staff Writer

Colombo (LNW): Foreign visitors from Russia and Ukraine, the two countries now threatening the world of an armed war amid escalated tension, helped Sri Lanka’s tourism recovery this year, the official government data showed highlighting over 100,000 tourist arrivals from the Russian Federation.

Sri Lanka marked a significant milestone by welcoming over 100,000 tourist arrivals from the Russian Federation through 314 direct flights to Bandaranaike International Airport (BIA) in Katunayake and Mattala Rajapaksa Inte-rnational Airport (MRIA).

Aeroflot, Azur Air, Redwings bring in 100,298 Russian tourists via 314 direct flights to Sri LankaRussian Ambassador to Sri Lanka Levan Dzhagaryan says bond between two countries set stage for growth in tourism, economic cooperation

AASL Chairman G.A Chandrasiri expresses gratitude for boost in Russian arrivals Aeroflot Captain Ermolaev Vladimir Vlaimirovich says Sri Lanka is worth visiting during anytime or any season SLCB Chief Thisum Jayasuriya highlights opportunities for MICE activities in SL

The Sri Lanka Tourism Promotion Bureau, in collaboration with the Airport and Aviation Services, organised a special ceremony at BIA yesterday to celebrate this milestone where a warm welcome for passengers and crew arriving on an Aeroflot flight from Moscow was extended.

Since 10 October 2022, a total of 100,298 Russian tourists have been brought to Sri Lanka through direct flights operated by Russian flag carrier — Aeroflot along with Charter flights Azur Air, and Redwings.

Russia ranks second largest source market for tourism in Sri Lanka with 112,993 tourists, contributing 17% of the total travellers arrived in the country so far highlighting the growing interest in the country among Russian travelers.

The ceremony at the BIA was attended by the Russian Ambassador to Sri Lanka Levan Dzhagaryan, the Airport and Aviation Services (Sri Lanka) Ltd., Chairman G.A Chandrasiri, Sri Lanka Convention Bureau Chairman Thisum Jayasuriya, former Sri Lankan Ambassador to Russia Udayanga Weeratungaas well as representatives from industry stakeholders involved in direct flight operations.

The event featured a cultural performance by a traditional dance troupe, which was highly enjoyed by Russian tourists.

Speaking at the ceremony Russian Ambassador Dzhagaryan said Russia is committed to supporting Sri Lanka’s tourism and economic revival, noting that the strong bond between the two countries set the stage for further growth in tourism cooperation and economic expansion.

This relationship signifies the strong bond between the two countries which is mutually beneficial. I can promise that the people of my country will visit Sri Lanka and bring over 200,000 next year. However, you all must promise a grand welcome like this again for them,” he quipped.

AASL Chairman Chandrasiri expressed his gratitude to all the stakeholders for their dedication to supporting Sri Lanka’s tourism industry and economy.

He thanked all the tourism and aviation officials, as well as industry stakeholders, for their support in bringing in a large number of Russian travellers.

Aeroflot Captain Ermolaev Vladimir Vlaimirovich extended his appreciation for the warm hospitality shown by the Sri Lankan people and praised Sri Lanka as an impressive travel destination.

By: Staff Writer

Colombo (LNW): Sri Lanka’s manufacturing sector continued its downward trend in June this year amidst expansion of services, Central Banks purchasing mangers index indicated.

Manufacturing PMI recorded an index value of 47.3 in June 2023, indicating the setback in manufacturing activities. This setback was contributed by subdued performance observed in all the sub-indices.

Production and New Orders declined, mainly driven by the manufacture of textile and apparel sector. As mentioned by many respondents, continued subdued global demand was the major reason for this decline, CB stated.

However, some improvement in New Orders and Production was observed in the manufacture of food and beverages sector with the reduction of prices by some manufacturers to increase the market demand. Employment and Stock of Purchases also decreased in line with the decline in New Orders and Production.

Many respondents mentioned that they tend to replace only the essential staff and also to maintain a minimum raw material stock.

Meanwhile, Suppliers’ Delivery Time remained shortened in June 2023 with the low order volumes during the month. Expectations for manufacturing activities for the next three months indicated an improvement, anticipating a gradual recovery in economic conditions.

Purchasing Managers Indices indicated an expansion in Services activities and a contraction in Manufacturing activities in June 2023.

Services sector PMI increased further in June 2023 recording an index value of 56.7, the highest reading since January 2022.

This was led by the increases observed in New Businesses, Business Activities and Expectations for Activity. Nevertheless, Backlogs of Works continued to decrease, while employment remained unchanged during the month.

New Businesses increased in June 2023 compared to May 2023 particularly with the increases observed in financial services, other personal services, insurance and professional services sub-sectors.

Business Activities experienced a continuous growth in June 2023 with improvements across most of the sub-sectors.

Accordingly, financial services sub-sector showed improvements driven by the gradual decrease in market interest rates. In addition, other personal services, education and professional services sub-sectors also exhibited positive developments during the month.

Nevertheless,wholesale and retail trade sub-sector experienced a continued decline in business activities, though there was some improvement in clothing and footwear businesses due to Hajj season.

Backlogs of Work also decreased at a higher rate during the month,while Employment remained unchanged from the level reported in May.

Expectations for Business Activities for the next three months continued to improve in June amid anticipated improvements in economic activities driven by policy rate cuts, strengthening of SriLanka Rupee, relaxation of import restrictions and moderation of inflationary pressures.

Variable May

By: Staff Writer

Colombo (LNW): The governments of Sri Lanka and India will soon launch a passenger ferry service between Kankesanthurai in Jaffna and Karaikal in India, says the Ministry of Ports, Shipping and Aviation.

Discussions in this regard have been held between the Minister of Ports and Shipping Nimal Siripala de Silva and India’s Foreign Affairs Ministry recently.

It has also been decided to establish two Immigration and Emigration offices, one each in Kankesanthurai and Karaikal for this purpose, while preliminary measures have already commenced in this regard.

Minister De Silva has revealed that boats will not be provided initially by the governments of India and Sri Lanka for the ferry service, instead, boats will be provided under the tender called for by the Indian Ministry of Foreign Affairs.

Under the new passenger ferry programme, a ferry will have a capacity of 150 passengers with each passenger allowed a baggage weighing 100 kilos, while the cost of one-way travel is US$ 50.

A joint commission established to strengthen bilateral connectivity has held “productive discussions” on the resumption of ferry services between India and Sri Lanka to boost regional trade and tourism and promote stronger people-to-people ties.

India-Sri Lanka Joint Committee established under MOU on Passenger Transportation by Sea held a virtual meeting last week.

“The productive discussions focused on the resumption of ferry services between the two countries connecting mutually agreed points,” the Indian High Commission here said in a statement.

Both sides agreed that the resumption of ferry services will boost regional trade and tourism and promote stronger people-to-people ties, it said.

The meeting took place ahead of Sri Lankan President Ranil Wickremesinghe’s planned visit to India later this week.

The Joint Committee identified a number of areas for mutual cooperation for the operationalization of ferry services in the near future and desired to take further steps based on mutual understanding, the statement said.

The Joint Committee was recently reconstituted by the Governments of India and Sri Lanka as per the provisions of the bilateral Memorandum of Understanding on Passenger Transportation by Sea, signed in 2011.The ferry services were suspended in the 80’s.

The two sides were to start a boast service in April which was later delayed as India changed the port it had chosen for the service.