Colombo Hilton is now undergoing refurbishment with the aim of giving it a new outlook in anticipation of a revival of the country’s battered tourism owing to Covid-19 outbreak and present man-made economic crisis.
Hotels Developers Lanka Ltd. (HDL) is readying a revamped Hilton Colombo for the envisaged rebound in tourism following favourable country situation and relaxation of travel advisories by several countries.
The first-ever major refurbishment of Hilton Colombo after being opened 35 years ago is nearing completion with an investment of Rs. 2.5 billion. Around 253 rooms of Hilton Colombo is under-going a revamp whilst the five star remains operational and busy even amidst challenging times.
HDL Chairman Nimal Perera noted that the total refurbishment of rooms between 7th and 17th floor is scheduled for completion by March next year.
He said this is in addition to Rs. 250 million spent in the revamp and relaunch of the Chinese restaurant Wok which since has become most popular.
HDL also plans to revamp and relaunch its authentic Sri Lankan cuisine specialty restaurant Curry Leaf with an investment of Rs. 100 million and ready by December. A new fine-dining Japanese restaurant is slated to open in the second quarter of next year.
Hilton Colombo’s new offering Sunset Blue too has become the “must be” place for the best of entertainment in the city for the young at night.
Perera said that refurbishment of balance rooms of the 382-key Hilton Colombo, development of the third tower (with a possible 190 rooms) and prospects for a mixed development project on the over 2-acre land in the area of the Hilton Sports Centre are in the pipeline.
Hilton is the world’s most valuable hotels brand, according to a new report from the leading brand valuation consultancy, Brand Finance.
Chairman Perera said the emphasis is to further enhance revenue from Hilton›s market leadership in Food and Beverage (F&B) and Banquets whilst refurbished property will offer higher quality hospitality for tourists from the upcoming winter season onwards.
The new initiatives are hot on the heels of the revamped public spaces and the lobby at Hilton Colombo. Additional investments were put into the property and plant in terms of improved energy efficient equipment such as chillers and cooling towers, transformers and elevators. Further efforts are underway to maximize energy saving aspects including solar.
HDL is one of the best performing State-Owned Enterprises (SOEs), says Perera. Since coming under the ownership of Treasury, HDL has seen State investment of Rs. 12 billion to keep flagship international five-star brand Hilton Colombo successful.
Unlike the majority of the SOEs, HDL’s debt (short and long term) is around Rs. 3 billion only whilst cash for recent upgrades had been internally funded. “We have reinvested our profits to improve the property and facilities,” the Chairman added.
Perera also attributes HDL success to excellent cross-cultural management and a model Public Private Partnership. The US-headquartered Hilton is a Fortune 500 company and Colombo also works closely with its Singapore office.
HDL and Hilton Colombo have also benefited from prudent risk management practices and strategies given the volatile exchange environment that prevailed in the past year and cash flow management etc.
procurement decisions and the decision to renovate whilst keeping the hotel operating and amidst COVID-pandemic were also wise moves.
Colombo Hilton gets a face lift readying for tourism rebound
RSF urges the government to stop hounding Tamil journalists
In the latest case of judicial harassment of Tamil journalists in Sri Lanka, two reporters are to be interrogated on suspicion of “terrorism” in the next few days. Reporters Without Borders (RSF) condemns the constant attempts to intimidate Tamil media personnel and calls for an end to the use of illegal and abusive methods that dangerously undermine press freedom.
“The constant harassment of Tamil journalists is unacceptable and constitutes a major encroachment on press freedom,” RSF’s Asia-Pacific desk said. “We call on Sri Lanka’s new president, Ranil Wickremesinghe, to undertake to put a stop to the arbitrary use of ‘terrorism’ accusations. The security forces must stop hounding any journalist who, directly or indirectly, broaches the Tamil issue.”
Repeated summonses
In the latest example of “terrorism” charges being used at will, two journalists based in the eastern city of Batticaloa, Balasingham Krishnakumar and Selvakumar Nilanthan, have been ordered to report to the headquarters of the Counter-Terrorism Investigation Division (CTID) in the capital, Colombo, on 14 September for questioning about their alleged support for the former Tamil armed separatist group, the Liberation Tigers of Tamil Eelam (LTTE).
Both Krishnakumar and Nilanthan are active press freedom defenders in Batticaloa and both are Tamils – members of a mainly Hindu ethnic minority in a country dominated by mainly Buddhist Sinhalese. The authorities accuse them of trying to revive the conflict between these two ethnic communities that led to a civil war from 1983 to 2009.
Forced to surrender access to his bank account
Nilanthan, who works for the Tamil Guardian newspaper, is one of those Tamil journalists who are used to getting judicial summonses and he has been questioned by the CTID on several occasions in the past. He was last interrogated after covering the anti-government protests taking place throughout the country in February, when he was accused of “inciting separatism on social media” and “attempting to revive the LTTE.”
In July 2021, he was interrogated for more than three hours by the police in Batticaloa, who made him give them access to not only his Facebook and WhatsApp accounts but also his email and bank accounts.
His outspoken reporting style and the subjects he covers are clearly not to the liking of the government in Colombo. In November 2020, the police questioned him about his coverage of military support for Sinhalese settlements on land used by Tamil cattle farmers. And a few months before that, the CTID brought charges against him in connection his coverage of alleged local government corruption in Chenkalady, a town near Batticaloa.
Jailed for a Facebook post
Tamil journalists are harassed by the authorities above all for covering the fact that, although the civil war ended in a crushing defeat for the Tamil Tigers, discrimination and violence against the Tamil minority has continued in Sri Lanka.
The victims have also included Murugupillai Kokulathasan, a journalist who was jailed for 15 months, from November 2020 to March 2022, over a Facebook post about an event commemorating the victims of the civil war. The authorities charged him under the Prevention of Terrorism Act with allegedly posting photos of LTTE fighters.
Sri Lanka is ranked 146th out of 180 countries in RSF’s 2022 World Press Freedom Index.
| REPORTERS WITHOUT BORDERS / REPORTERS SANS FRONTIÈRES |
Govt to fast track 260 large-scale development projects worth Rs 5.8 trillion
The Government is to fast track 260 large-scale development projects valued at Rs. 5.8 trillion as its progress is being slowed down owing to current economic crisis and scarcity of raw materials, fuel crisis, power cuts, price inflation as well as contract management issues
This was revealed in a progress review report on these 260 projects presented to the Cabinet of Ministers on Monday 05.
According to the progress review report submitted by President Ranil Wickremesinghe in his capacity as Finance, Economic Stabilisation and National Policies Minister to the Cabinet, 260 large-scale development projects are being implemented by line ministries.
“Total of 125 projects are financed by foreign financing means, whilst their project completion time extends up to the year 2030,” a statement comprising weekly Cabinet Decisions issued by the Government Information Department noted.
However, Cabinet observed that only around 52% of the target projects were implemented during the second quarter of the year given the adverse impacts of the ongoing economic crisis.
The Cabinet of Ministers decided that the projects showing less progress should be prioritised upon further reviewing so that the expected goals and objectives of these projects can be achieved.
However, Cabinet observed that only around 52% of the target projects were implemented during the second quarter of the year given the adverse impacts of the ongoing economic crisis.
“These development projects were hampered by import restrictions, shortage of raw materials, fuel crisis, power cuts, price inflation as well as contract management issues,” the statement added.
The Cabinet of Ministers decided that the projects showing less progress should be prioritised upon further reviewing so that the expected goals and objectives of these projects can be achieved.
In addition, it was decided to appoint a separate Committee Chaired by the Prime Minister’s Secretary and other senior officials to obtain the assistance of the relevant parties to ensure project activities can be finalised within the precise time frame.
The proposal to this effect submitted by President Ranil Wickremesinghe in his capacity as the Finance, Economic Stabilisation, and National Policies Minister was approved by the Cabinet of Ministers.
U.S. extends support for restructuring Sri Lanka debt
The United States Secretary of the Treasury, Janet Yellen, has informed that the U.S., as a creditor nation, will participate in restructuring Sri Lanka’s debt.
The critical need for the full cooperation of all official creditors in debt negotiations and restructuring through timely participation and equal burden sharing have been outlined, President’s Media Division (PMD) announced.
The US Treasury, welcoming President Ranil Wickremesinghe’s proposal for a coordination platform for Sri Lanka’s official bilateral creditors, has urged engagement in this regard.
Sharing the common goal with Sri Lanka of expediting financing assurances, the U.S. has expressed readiness to join other Paris Club members in this process, in keeping with its principles, the PMD said further.
Further the U.S. Treasury has pledged to continue to engage with their other government agencies, as well as the World Bank and Asian Development Bank, to assist the people of Sri Lanka.
It is recalled that the U.S. has supported the people of Sri Lanka inter alia through the provision of school nutrition for children, food vouchers for pregnant women and new mothers, and fertilizer & cash transfers for small and medium scale farmers to increase food production.
n September 1, the IMF reached a staff-level agreement to support Sri Lanka’s economic policies with a 48- month arrangement under the Extended Fund Facility (EFF) of about $2.9 billion. Sri Lanka is going through its worst economic crisis since its independence in 1948 which was triggered by a severe paucity of foreign exchange reserves.
Commenting on the US decision, foreign minister Ali Sabry said Sri Lanka thanked the US for agreeing to support it in re-profiling its debts.
However, the IMF said financing assurances to restore debt sustainability from Sri Lanka’s official creditors and making a good faith effort to reach a collaborative agreement with private creditors are crucial before the IMF can provide financial support.
Private creditors or sovereign bondholders account for 48 per cent of Sri Lanka’s international debt amounting to $51 billion followed by the ADB with 13 per cent, China and Japan both 10 per cent each and the World Bank with 9 per cent.
Sri Lanka in mid-April defaulted on its debt for the first time in its history as the country struggles with its worst financial crisis in more than 70 years. It became the first Asian country in two decades to declare preemptive debt default
Chanaka appointed as the Minister of State for Power and Energy
Member of Parliament D.V. Chanaka has been appointed as the Minister of State for Power and Energy.
Chanaka was sworn in as the Minister of State for Wildlife and Forest Resources Conservation yesterday and an hour later he had informed the President that he could not take over the relevant ministry. He had asked the President to give him another responsible ministerial position and he was hoping that he would get the position of Minister of State for Power and Energy.
Accordingly, President Ranil Wickramasinghe has arranged to give him the State Ministership that he was waiting for.
Yesterday Indika Anuruddha was also sworn in as the Minister of Power and Energy and accordingly two State Ministers have been appointed for the relevant ministry.
Rani Jayamaha will not be able to get away with the ‘economic assassin’ charges
A Monetary Board member of the Central Bank of Sri Lanka, Dr. Ranee Jayamaha, has been condemned for saying that she has no involvement in decision-making that led to the prevailing economic crisis.
Jayamaha has no ethical right to escape the charges after having received massive sums of money for attending meetings of the Monetary Board, said a former senior CBSL official on condition of anonymity.
He is responding to what Jayamaha claimed during a meeting of COPE on May 25, where the loss of a colossal sum due to the floating of the Sri Lanka rupee in recent times was raised.
When the CBSL governor said the Monetary Board was responsible for taking the decision, Jayamaha objected, saying she and former Monetary Board member Sanjeewa Jayawardena objected to it in writing.
However, it transpired that that had been done on the advice of three Monetary Board members and on a decision by the governor at the time Prof. W.D. Laxman, appointed member to the Monetary Board Samantha Kumarasinghe and the then treasury secretary.
Here, COPE members highlighted the need to empower the CBSL with decision-making on the basis of correct technical information without giving into outside interferences.
Jayamaha, a veteran economist with a longstanding service with the CBSL, received Rs. 3,225,000 for attending Monetary Board meetings between January 01, 2021 and June 30, 2022.
Given below is a copy of payments made to Monetary Board members for attending the meetings during the said period:
Dialog and SLC Launch Wishing Portal to Cheer on Our Lions to Bring Home the Cup
Media Release
September 09, 2022 (Colombo)
Asia Cup 2022 Grand Finale
Official sponsor of the National Cricket Team, Dialog Axiata PLC and Sri Lanka Cricket have joined hands to launch a wishing campaign to cheer for Our Lions at the grand final of the Asia Cup T20 tourney, played on the 11th of September 2022, at the Dubai International Cricket Stadium, United Arab Emirates.
The wishing portal can be accessed via a QR (Quick Response) code and/or website that will open access to anyone who want to wish and cheer on the national cricket team to win the final and bring home the cup after a dearth of eight long years.
You can simply visit https://dlg.lk/apekollo to access the wishing portal and submit your wish to the national cricket team and also stand a chance to win 1000 Cricket T-shirts.
The grand final will be displayed on a giant screen at CR&FC and CH&FC Grounds in Colombo, Sanath Jayasuriya Grounds in Matara, Gatambe Ground in Kandy, Rajanganaya Ground in Anuradhapura and Kalai Mathi Sports Club Ground in Jaffna.
Sri Lanka last won the Asia Cup in 2014 under the captaincy of Angelo Mathews by beating Pakistan in the grand finale, the same foes the Lions will be facing this weekend as well. Incidentally, the present national team has no players from the 2014 team that won the Asia Cup.
Sri Lanka qualified for the grand finale in the Super Four round by defeating the new kids on the block, Afghanistan and experienced pre-championship favourites, India.
“I’m indeed thankful to the national team sponsor, Dialog Axiata for supporting the game of cricket and believing in our young talent for almost a decade,” Chryshantha Kapuwatte, Asst. Secretary of Sri Lanka Cricket said. “A campaign such as this gives a much-needed boost to the morale of the country and indeed the morale of the players. I give my profound gratitude to Dialog for initiating this campaign.”
The Asia Cup final will go LIVE on Dialog Television channel 73 (SD), 130 (HD) and can be streamed LIVE on the Dialog ViU mobile app.
Caption
Supun Weerasinghe, Group Chief Executive, Dialog Axiata PLC posting the first wish on the wishing portal to cheer on the Sri Lanka National Cricket Team to bring home the cup.
Also in the photo (L-R) Jerome Jayaratne, Chief Operating Officer, SLC, Chryshantha Kapuwatte, Asst. Secretary, SLC, Dr. Jayantha Dharmadasa, VP – International Cricket, SLC and Harsha Samaranayake, Senior General Manager – Brand and Media, Dialog Axiata PLC.
-ENDS–
Sri Lanka workers remittances record a marginal increase in July
Sri Lanka workers’ remittances increased marginally in July and remained in excess of the trade deficit, thereby supporting the forex liquidity conditions under the severe balance of payments pressures.
In July, remittances amounted to $ 279 million, against $ 274 million in June and $ 453 million in July last year.
The first seven months haul was down by 50% to $ 1.88 billion. The trade deficit in July was $ 123 million, and in the first seven months, it was $ 3.6 billion, against $ 4.9 billion in the corresponding period of last year.
Total departures for foreign employment were recorded at 22,821 in July and comprised unskilled (8,232), skilled (7,091) and domestic aid (4,479) categories.
Total departures for foreign employment during January-July were recorded at 163,522, compared to 37,041 in the corresponding period of the previous year, and a total of 117,952 in 2021.
CBSL also said that earnings from tourism recorded an increase in July (YoY) to $ 85 million on the low base.
Foreign investment in the Government securities market recorded a marginal net inflow ($ 4 million) in July, resulting in a cumulative net inflow of $ 7 million to the Government securities market during January-July.
Net inflow to the Colombo Stock Exchange amounted to $ 2 million in July and, on a cumulative basis, including primary and secondary market transactions, recorded a net inflow of foreign investments amounting to $ 95 million.
CBSL also said Gross official reserves stood at $ 1.8 billion as of the end of July. This included the swap facility from the People’s Bank of China, equivalent to around $ 1.5 billion, which is subject to conditionality on usability.
The Central Bank continued to supply forex liquidity to finance essential imports by utilizing inflows to gross official reserves. Consequently, the level of usable reserves remains at a significantly low-level by the end of July. Total foreign assets, which consist of gross official reserves and gross foreign assets of the banking sector, amounted to $ 5.9 billion at the end of July.
King Charles III, the new monarch
Queen Elizabeth II, who reigned for more than 75 years, died yesterday at the age of 96.
At the moment the Queen died, the throne passed immediately and without ceremony to the heir, Charles, the former Prince of Wales.
Prince Charles will be formally known as King Charles III upon his accession.
Basil to leave the country
It is reported that former Finance Minister Basil Rajapaksa has now arrived at Katunayake Airport. That is for departure to the United States of America.
A court order had been issued preventing the former minister from traveling abroad and Basil Rajapaksa’s lawyers reported to the Supreme Court and said that their client wanted to go abroad for medical treatment.
After considering the facts, the court temporarily lifted the foreign travel ban of Mr. Basil Rajapaksa.
Mr. Basil Rajapaksa is scheduled to leave for Dubai on an Emirates flight and will then travel to America from Dubai.
It was recently reported that the State Ministers were to be sworn in for his American trip. Accordingly, yesterday, 37 state ministers were sworn in and the majority of them were members of the Podujana Peramuna.