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Over 200 Uzbekistan travelers visit the island marking the tourism revival

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Over 200 Uzbekistan travelers visit the island marking the tourism revival

Uzbekistan Airways, the flag carrier airline of Uzbekistan, has commenced operations at Mattala Rajapaksa International Airport announcing a weekly flight between Uzbekistan and Mattala every Wednesday starting from January 2022.

Airport and Aviation Services (Sri Lanka) (Private) Limited has made this arrangement when its officials met with the airline at the Air Service World Congress 2021 Forum, held in Dubai last December, and had extensive discussions with Uzbekistan Airways, and as a result, the airline started its operations at Mattala Rajapaksa International Airport.

The team of AASL represented the Air Service World Congress 2021 Forum and was able to attract the airline based on the Government concessions provided to airlines.

This initiative will increase the tourist arrival numbers in the country and establish a new source market for the tourism industry of Sri Lanka.

Even with the COVID-19 pandemic situation during the last two years, Mattala Airport has seen an increase in the number of passenger movements with several foreign airlines operating their flights to MRIA.

MRIA has seen significant growth in the arrival of international tourists in the past two years. At present, SkyUp Airlines and Gullivair Air are operating and have planned to continue scheduled charter flights.

So far during January 2022, these Airlines have carried more than 2900 tourist arrivals into the country.

In the meantime Aitken Spence Travels the premiere destination management company in Sri Lanka, welcomed the first charter flight for the year from Uzbekistan on Friday 27th January 2023 to the Mattala Rajapaksa International Airport (MRIA) with more than 200 holiday makers.

Uzbekistan Airways will operate weekly flights commencing from the 27th of January and will continue till end of March 2023.

Aitken Spence Travels was instrumental in bringing the first charter last year as well from this source market that was a new market for Sri Lanka. The Uzbekistan charter operation is partnered with the leading tour operator in Uzbekistan.

Visitors arriving to Sri Lanka will be patronizing and staying in 4- and 5-star hotel accommodation options starting from Kalutara going up to deep down south.

The company will be offering excursions covering the southern coastal belt to other inland locations as Uzbekistan is a landlocked country and these tourists eagerly look forward to visiting tropical beaches.

However, utilizing the opportunity to showcase the rich culture and nature to these high-value visitors, the excursions cover a wide-spectrum from traveling to misty mountains, cultural and heritage sites, and shopping spots that not only entertains the tourists but also fuels the local economy.

Aitken Spence Travels takes the lead in showcasing Sri Lanka to this new source market that had their first experience of Sri Lanka last year.

SL continues rolling over Development Bonds amidst lawsuit for default  

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SL continues rolling over Development Bonds amidst lawsuit for default  

Sri Lanka has been rolling over USD-denominated Sri Lanka Development Bonds (SLDB), and has been settling SLDB maturities in local currency although the lawsuit filed by Hamilton Reserve Bank demanding  repayment of the principal amount of US $250.19 million plus interest, which the bank holds at present still pending.  

Declaring the preemptive debt default of the country on April 12, 2022, Central Bank Governor Nandalal Weerasinghe said that Sri Lanka has not defaulted on its local currency bonds, according to the local news reports.

Hamilton Reserve Bank has claimed in a suit filed for repayment of the principal amount of $250.19 million plus interest, which the bank holds, of the defaulted and accelerated New York law governed $1 billion 5.875% bonds due July 2022 (Bonds) issued by the Sri Lankan government.

It has sought injunctive and declaratory relief to address Sri Lanka’s alleged “continuing violations of the Bonds’ pari passu (equal treatment) requirement[,]” in respect of its “External Indebtedness” — i.e. the sovereign’s debt issued in any currency other than Sri Lanka’s, as covered in Reorg’s legal analysis.

According to Hamilton’s petition, by “excluding the USD-denominated Sri Lanka Development Bonds from the planned debt restructuring, Sri Lanka has made clear that it will pay the Sri Lanka Development Bonds in full, even as [Hamilton’s] Bonds remain unpaid [,]” and [u]surprisingly, the Sri Lanka Development Bonds are largely held by favored domestic (Sri Lankan) banks,” as covered in the analysis.

During the call, Sri Lanka’s legal advisor Clifford Chance informed creditors that it has filed a memorandum of law on Sept. 21 last year in support of its motion to dismiss the claims filed by Hamilton Reserve Bank informed sources said.

The initial pre-conference trial was held on Sept. 28, informed sources said without announcing the next date of hearing of the debt default case. .

Sri Lanka Development Bonds, dollar denominated bonds sold to domestic buyers have been excluded from a planned restructuring, Central Bank Governor Nandalal Weerasinghe said after announcing a suspension of payments of external debt on April 12 , 2022..

“SLDBs are domestic debt,” Weerasinghe said. “But we ask them to re-finance them. They are also financed by the money of expatriate workers.”

Sri Lanka Development Bond holders are mostly banks and the government may have had to inject capital to banks if they are given hair cuts, cancelling the effect of any hair cuts.

Out of 1.79 billion dollars of SLDBs outstanding, 1,593 million dollars were held by domestic banks, some 166 million by non-banks and 13.2 million dollars by individuals.

Some individuals and exporters bought SLDBs after the threshold was lowered to 1,000 US dollars.

SLDB purchases are mostly financed by foreign currency deposits of expatriate workers and others, though some banks also have net balances in their offshore banking units.

President denies EC member Charles’ resignation

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President denies EC member Charles’ resignation

The resignation tendered by P.S.M. Charles, a member of the Election Commission, citing death threats over the phone by an unknown figure, has been denied by President Ranil Wickremesinghe, the President’s Office announced.

Despite Charles’ willingness to tender resignation due to what described as death threats posed over the phone, the President has denied the letter.

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Govt to establish 50 more passport application centres across SL

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Govt to establish 50 more passport application centres across SL

The government will increase the number of passport application centres attached to the Department of Immigration and Emigration up to 54 across the island revealed Public Security Minister Tiran Alles.

Currently, only 04 passport application centres are in operation and accordingly, the number will increase up to 54 with the new 50 centres. Having these centres established, the customers will be able to reach out the most convenient centre, submit their applications along with their fingerprints and receive their passports at their doorstep.

The Minister made these remarks addressing a special briefing held in the Ministry two days (27) ago.

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Low-pressure area over Southeast Bay very likely to move west-forwards intensifying into depression – Naval, Fishing communities warned

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Low-pressure area over Southeast Bay very likely to move west-forwards intensifying into depression – Naval, Fishing communities warned

Showers or thundershowers will occur at a few places in Sabaragamuwa Province and in Kandy, Nuwara-Eliya, Kaluthara, Galle and Matara districts during the afternoon or night and a few showers will occur in Northern, Eastern and Uva provinces, said the Department of Meteorology in a statement today (29).

General public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.

Marine Weather:

The low-pressure area located over the Southeast Bay of Bengalis very likely to move west-northwestwards and intensify into a Depression over the South-West Bay of Bengal Sea area around 31st January 2023. Thereafter, it is likely to move gradually west-northwestwards and reach near east coast of Sri Lanka on 01st February 2023. Wind speeds will be (40-45) kmph and can increase up to 60 kmph in sea areas between (Equator – 05 N) and between (85E – 95E). Heavy showers or thundershowers and very rough or rough seas can also be expected in above sea areas. Therefore, naval and fishing communities are advised not to venture into the above-mentioned sea area during the next 24 hour. Fishing and naval community are requested to be attentive to future forecasts issued by the Department of Meteorology in this regard.
Condition of Rain:
A few showers will occur in the sea areas off the coast extending from Kankasanthurai to Batticaloa via Trincomalee.
Winds:
Winds will be north-easterly and wind speed will be (20-30) kmph. Wind speed may increase up to (40-45) kmph at times over the sea areas off the cost extending from Colombo to Kankasanthurai via Puttalam and Mannar and sea areas off the cost extending from Pottuvil to Matara via Hambanthota.
State of Sea:
Sea areas off the coast extending from Colombo to Kankasanthurai via Puttalam and Mannar and sea areas off the cost extending from Pottuvil to Matara via Hambanthota will be fairly rough at times. The other sea areas around the island will be slight. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.

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Sri Lanka Original Narrative Summary: 29/01

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Sri Lanka Original Narrative Summary: 29/01

  1. Diplomatic sources reportedly claim China’s current offer to Sri Lanka of a 2-year debt moratorium is not suf­ficient for the IMF to approve a funding programme of USD 2.9 bn over 4 years: in early 2022, China had agreed to provide a USD 2.5 bn facility which was inexplicably spurned by the Sri Lanka Govt and Central Bank when the bankruptcy was hurriedly announced on 12th April 2022.
  2. President Ranil Wickremasinghe says the economic growth rate in 2022 was -11% and that it could be -3.5 or -4.0% this year: prior to the announcement of the bankruptcy, growth was estimated at +4.5% for 2022, and +5.0% for 2023: President also says economic growth will be positive from 2024.
  3. President Ranil Wickremasinghe says around 1.6 million income tax, VAT & national development tax files existed in 2019: laments the number of files reduced to around 400,000 by Dec’21 due to the tax concessions granted in 2020: says the decrease in government revenue due to this is the primary cause of the country’s economic crisis.
  4. State Finance Minister Ranjith Siyambalapitiya says the IMF is the best and only alternative now: also says IMF has not imposed conditions and have merely provided guidance with the intention to strengthen the economy.
  5. Former UN Secretary-General Ban Ki-moon expected to visit Sri Lanka in early February on the President’s invitation: expected to sign several agreements on sustainable development and climate change: also expected to discuss the establishment of the proposed climate change university in Sri Lanka.
  6. Public Security Minister Tiran Alles says the Govt will introduce an electronic passport from this year: also says 54 branches of the immigration and emigration department will be established around the country.
  7. Public Security Minister Tiran Alles issues stern warning to drug racketeers to stop operations immediately: says steps would be taken to stop such criminals and destroy their operations.
  8. Founder and Chairperson Vice President Global Twins Multiple Birth Forum, Upuli Gamage says Sri Lanka is expecting thousands of twins and non-twin visitors including at least 30 contestants for a “Twins Miss and Mr World 2023” contest: expects the celebration to grab the attention of many countries.
  9. Another Member of the Election Commission M M Mohammed receives death threats: Commission Member S B Divaratna who received death threats earlier, receives death threats once again: Commission member K P P Pathirana had also received death threats previously.
  10. Attorney General’s Dept advises the Sports Ministry to request the Govt Auditor to conduct a comprehensive audit on Sri Lanka Cricket’s World Cup expenditure, before pressing for legal action.

Thai Pongal celebrations at the High Commission of Sri Lanka in Singapore

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Thai Pongal celebrations at the High Commission of Sri Lanka in Singapore

The Sri Lanka High Commission in Singapore together with the Sri Lankan community in Singapore celebrated the Thai Pongal festival for the third consecutive year at a colourful ceremony at the High Commission premises on Thursday, 19 January 2023.

Decorative motifs, popularly known as “Kolams” among the Tamil community were drawn on the floor adding a traditional cultural look to the event.

Vice Chairman of the Sri Senpaga Vinayagar Temple in Singapore K. Selvakrishnan and President Jayaseelan Karthijesu, and Secretary-General of the Singapore-Ceylon Tamils Association  S.Koban were present at the celebrations as special guests. Chief Priest of the Sri Senpaga Vinayagar Temple in Singapore Sri Sabesan Kurukkal, conducted the special pooja and Hindu religious observances.

Welcoming those present, High Commissioner Premawardhane emphasized the importance of the Thai Pongal Festival and introduced it as the most treasured religious and cultural festival celebrated by the Tamil Community across the globe. She added that festival pays  tribute to the sun by offering the first harvest as a token of gratitude. She said that the Thai Pongal festival has become an integral part of the national culture and this year’s ‘Thai Pongal’ is a celebration with added significance, considering the bumper harvest of the current ‘Maha’ Season, from which the entire nation will benefit.

The High Commissioner quoted from the Thai Pongal message of President Ranil Wickeremesinghe, which highlighted that the Pongal festival this year is opportune to signify the Government’s endeavours, to build a self-sufficient country by ensuring food security and nutrition for all, and reviving Sri Lanka being the Granary of the East, as established by our forefathers.

The High Commissioner added that the Singapore -Sri Lanka relationship is underpinned by shared cultural values and strong people to people linkages. She recalled the invaluable assistance extended throughout the Covid 19 pandemic by the Government of Singapore through Temasek Foundation International, other charitable organisations and the Singapore community to support Sri Lanka’s healthcare response to the pandemic.

 High Commissioner Premawardhane further added that the High Commission is also hoping to join hands with the Tamil Community in Singapore to assist in initiating some special projects for which the preliminary discussion has been held with the Governor of the Northern Province of Sri Lanka during his recent visit to Singapore.

The High Commissioner acknowledged the extensive contributions made by the Sri Lankan Tamil community towards the development of Singapore, stating that the community was a proud reflection of the country, its diversity and its talent. The Senpaga Vinayagar temple in Singapore was built in the 1850s for which the Ceylonese Tamils are credited with pioneering the building of the first structures of the temple. The High Commissioner appreciated the important role played by the Singapore Ceylon Tamils Association in the maintenance and management of the temple.

The religious rituals ended with the offering of Pongal to Lord Ganesha and other gods.

Traditional sweetmeats, including Pongal and Ceylon tea were served at the conclusion of the event.

High Commission of Sri Lanka

Singapore

24 January 2023

Saudi Arabia pledges to enhance economic assistance to Sri Lanka

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Saudi Arabia pledges to enhance economic assistance to Sri Lanka

Saudi Arabia has stepped in to provide further assistance to promote tourism, increase foreign direct investments and enhance employment opportunities for Sri Lankans.

This pledge was given by Foreign Affairs Minister of the Kingdom of Saudi Arabia, Prince Faisal bin Farhan Al Saud when his Sri Lankan counterpart Ali Sabry met him and had an extensive bilateral discussion in that country.

Minister Ali Sabry underlined the excellent bilateral relations between the two countries and thanked Saudi Arabia for the support extended to Sri Lanka in the international fora, especially during its membership at the UNHRC in 2009, 2012 and 2014.

Sabry also acknowledged the contribution of nearly SAR 1.5 billion by the Saudi Development Fund in infrastructure and other developments in Sri Lanka and the solidarity shown in the IMF supported debt restructuring programme.

He paid a tribute to his Saudi counterpart for hosting nearly 185000 Sri Lankans and expressed his willingness to enhance the employment opportunities for Sri Lankans in skilled, semi-skilled and professional categories in the Kingdom.

Minister Sabry invited Saudi investors to invest in Sri Lanka, especially in the Colombo Port City and the Renewable Energy sector.

The Saudi Foreign Minister stated that Saudi Arabia and Sri Lanka are true friends and share similar views on a number of international issues. He expressed his appreciation to Sri Lanka for being one of the first countries to support Saudi Arabia’s bid to host EXPO 2030 in Riyadh.

He also said that Saudi Arabia always encourages business entities to look at Sri Lanka as a possible destination for investment.

Responding to the update given by his Sri Lankan counterpart on the current economic situation in Sri Lanka, the Saudi Minister said that he is “glad that Sri Lanka is getting positive attention from her friends around the world”.

The ministers also agreed to the resumption of air connectivity between the two countries to the level of the pre-Covid period.

During his meeting with Chief Executive Officer of the Saudi Fund for Development Sultan A. Al-Marsad, the Sri Lankan Minister thanked the SFD for the continuation of the funding despite the economic situation in the country and the flexibility shown on debt repayment.

On the invitation extended by Prince Faisal bin Farhan Al Saud, his Sri Lankan counterpart undertook an official visit to the Kingdom of Saudi Arabia from 22 to 27 January.

During his meeting with the Secretary General of Organization of the Islamic Cooperation (OIC) Hissein Brahmin Taha, the Minister and the Secretary-General agreed to enhance the engagements and continue to cooperate in the international fora.

The minister also urged the member states of the OIC for “visible humanitarian and economic support” to Sri Lanka.

At a meeting with the Vice President of the Islamic Development Bank (IDB) Dr. Zamir Iqbal, the organization offered to coordinate with the Government of Sri lanka to organize an investment conference to unlock alternative finance with a view to helping Sri Lanka’s economy.

During the meeting with the Secretary General of the Gulf Cooperation Council (GCC) Dr. Nayef Falah M Al Hajraf, the Sri Lankan minister noted that the total trade volume between Sri Lanka and GCC countries is in the region of US$ 2.5 billion a year, a significant trade bloc, following India, China, Europe and the USA.

Sabry also mentioned that of the 300,000 employment opportunities generated during the year 2022, 257,000 were employed in the region.

The Sri Lankan minister and the Secretary-General acknowledged the necessity of exploring untapped investment opportunities available in Sri Lanka for GCC countries. In this context, it was agreed to expedite the process of entering into a framework agreement between Sri Lanka and the GCC.

Sri Lanka takes initial strides to tap Spanish tourist market in a big way

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Sri Lanka takes initial strides to tap Spanish tourist market in a big way

Spain is one of the fastest recovery markets for Sri Lanka Tourism after the pandemic and participation in FITUR argues well for the much-needed exposure for Sri Lanka as an attractive tourism destination for Spanish-speaking countries, SL tourism promotion bureau sources revealed.

It is contributing in a substantive manner to its overall growth strategy Sri Lanka

Tourism made the presence with the 28 private sector companies at 43rd edition of FITUR International Travel Mart which was held from 18- 22 January 2023, Madrid, Spain.

FITUR is the largest tourism event in the Spanish Market where all the sectors leisure, business and MICE tourism meet under one roof.

Sri Lanka Tourism stall was ceremonially opened by Mr.Chalaka Gajabahu ,Chairman of Sri Lanka Tourism Promotion Bureau and Honorary Consul of Sri Lanka in Barcelona, Mr. Agustin Llana and representatives of the leading private sector members of Sri Lanka.

Sri Lanka was able to attract a high level of attention from the trade and travel visitors attended at the event.

The Sri Lanka pavilion highlighted many aspects of its potential culture, beauty, Ayurveda and many more which Sri Lanka would offer as a tourism destination

. Sri Lanka stand optimized the “So Sri Lanka” and “Visit Sri Lanka” vivid sights to attract the potential visitor segments.

At the Sri Lanka pavilion, Ceylon tea was served for the visitors with a view of promoting Ceylon tea in the Spanish market.

On the sideline of the FITUR travel fair, Sri Lanka Tourism Promotion Bureau officials participated at the events organized by the UNWTO. During the events,

SLTPB officials met with the Mr.Harry Hwang , Director of Regional Department for Asia and the Pacific, UNWTO.As a result of discussions, Mr.Harry Hwang has shown the interest to hold the UNWTO Joint commission in Sri Lanka in 2024.

In the Meantime, the SLTPB and Sri Lanka Embassy of France also took steps to arrange Business Meetings, exclusive media interviews, Air Line meetings at the FITUR 2023.

The Media gathering conducted during the fair created the great opportunity to highlight the updates on the destination and create awareness on the destination.

Sri Lanka to regularize mobile phone business issuing import license

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Sri Lanka to regularize mobile phone business issuing import license

Sri Lanka in its way towards high digital connectivity is set to regulate the mobile phone industry by making licenses to import handsets with the aim of busting the snuggling and grey market, finance ministry sources said.

As the world integrates the ‘New Normal’ in the ecosystem, Sri Lanka’s digital framework with mobile phone connectivity is pacing with fresh energy and has bold plans for the future.

The nation witnessed a whopping 245% increase in E- commerce base, as the basket went from US$11 to $38 which was primarily driven by e-payment, e-banking, online medical consultation and e-sports, the latest segment on e-platforms.

Smartphones are also galvanizing day-to-day activities like online classes, online shopping, and e-payments with 43% people accepting to have tried newer things online.

The smartphone industry is looking at a promising avenue. In terms of digital development, Sri Lanka witnessed a speedy process where now the usage of mobile phones has become a common feature among the people.

In this setup , Minister of Labour and Foreign Employment Manusha Nanayakkara has intervened to stop the smuggling of unregistered mobile phones into Sri Lanka.

This action has been taken by the minister after the Mobile Phone Importers Association apprised him regarding the organized racket of smuggling mobile phones into the country using individuals as carriers, depriving the government of tax revenue and posing a threat to national security.

Minister Nanayakkara had explained the relevant issues to State Minister of Finance Ranjith Siyambalapitiya as well as the Telecommunication Regulatory Commission and urged them to take necessary action to stop the racket.

These facts were revealed in a discussion held today (27) between the Mobile Phone Importers Association and the Minister Nanayakkara.

The Association told the minister that due to the importation of mobile phones in the above illegal manner, in 2021 alone around $20 million has been transferred to foreign destinations illegally through the Undiyal system, and the tax revenue lost to the government is estimated to be around Rs. 7.8 billion.

The mobile phone importers pointed out to the minister that importing mobile phones without registration in this way also affects national security and that the Telecommunication Regulatory Commission has no record of such mobile phones.

Minister Manusha Nanayakkara assured that necessary measures to stop the illegal importation of mobile phones, which affects the country’s tax revenue and national security, will be taken with the intervention of the Minister of State for Finance and the Telecommunication Regulatory Commission.

Smartphone manufacturers are eyeing this opportunity of impending demand for smartphones. Deeper insights into the market reveal that 48%2of the people would be interested in buying products that are manufactured locally.

Thus, the vision of ‘Make in Sri Lanka’ and ‘Digital Sri Lanka’ can go hand in hand in reforming the smartphone industry in the coming years.

As a youth-centric brand, vivo is tapping into this wave of digital transformation and is manufacturing smartphones that cater to all the digital needs of the users. It is also exploring to tap the 5G wave that is bound to take the nation by storm.

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