The sell price of the US Dollar against the Rupee has surged up to Rs. 298.99.
The buy price of the US Dollar marks Rs. 288.74.
MIAP
SriLankan Airlines suspends flights to Moscow
The SriLankan Airlines has suspended its air flights between Colombo and Moscow, Russia, with effect from today (28) due to the ongoing conflicts between Russia and Ukraine.
A statement issued by the SriLankan Airlines revealed that the restrictions are in the form of international financial and aircraft insurance limits which have been imposed on Russia due to the conflict situation.
The statement:
SriLankan Airlines announces the suspension of operations between Sri Lanka and Moscow, Russia with effect from today due to operational restrictions that are outside of the airline’s control.
The restrictions are in the form of international financial and aircraft insurance limits which have been imposed on Russia due to the ongoing Russia-Ukraine war, and directly impact SriLankan Airlines’ flight operations to Russia. Accordingly, SriLankan Airlines will cease operations to Moscow until further notice.
The airline expresses regret for any inconvenience caused to customers by this decision taken on account of a force majeure situation. SriLankan will continue to monitor the situation in Russia, and hopes to restart operations once conditions improve. SriLankan maintained two weekly flights between Colombo and Moscow before the cessation of operations.
India’s External Affairs Minister Jaishankar meets with President Rajapaksa
India’s External Affairs Minister S. Jaishankar who is on a two-day official tour in Sri Lanka has met with Sri Lankan President Gotabaya Rajapaksa today (28).
The Indian External Affairs Minister’s visit is based on the BIMSTEC Summit scheduled to be held in Colombo today. Accordingly, Dr. Jaishankar will be attending the event tomorrow.
Expressing his pleasure on the Indian External Affairs Minister’s arrival, President Rajapaksa has also taken this opportunity to thank India for its debt assistance to Sri Lanka in these crucial times.
A number of celebrations have been organised this year to mark the 75th Anniversary of diplomatic ties between the two nations, including the issuance of a commemorative coin and a commemorative stamp, a statement by the President’s Media Unit revealed.
Another meeting was held between the Indian External Affairs Minister and Sri Lankan Finance Minister Basil Rajapaska today.
Meanwhile, Jaishankar is also set to visit Leader of the Tamil National Alliance (TNA) R. Sampanthan.
MIAP
Transport Minister between a rock and a hard place due to train ticket prices and workers’ OT
Focus has been paid on increasing the prices of train tickets as a solution to the financial crisis befallen the Department of Railway. Several days earlier, there was a sudden hike in train ticket prices but the move was reversed at the Transport Minister’s intervention.
However, trade unions responding to the Railway Department are highly against the idea of increasing train ticket prices and warning that trade union actions will be taken against any price hike.
In response, Subject Minister Dilum Amunugama stated yesterday (28) that the overtime payments of railway workers may have to be slashed should a price surge on tickets not be taken place. The increased loss incurred by the Railway Department amid the fuel price surge has to be recovered, the Minister went on, adding that in doing so, one of the above options has to be compromised.
However, the trade unions also demonstrate their objection against the slashing of overtime payments entitled to the railway workers, stating that their trade union actions will be intensified upon such a move.
Overtime has become an essential element in railway service to maintain the operations and if an action is taken to slash the overtime payments, the entire railway service will collapse instead of the resolving the crisis, warned S.P. Vithanage, President of the All Ceylon Railway General Employees Union.
MIAP
Ex-pack celebrates 25 years of exemplary growth and excellence
Photo Caption:
Ex-pack Chairman Mr. Sattar Kassim
Ex-pack Corrugated Cartons PLC, a name synonymous with the corrugated cartons manufacturing industry in the country providing end-to-end packaging solutions to renowned organizations and brands both local and international, celebrates 25 years of progressive excellence and innovation amidst the many challenges faced throughout the years. And it is only growing more stronger and resilient.
To commemorate this, Ex-pack held a event at its state-of-the-art factory premises with the participation of all employees, who also received value-packs of essential items to share with their loved ones back at home. Mr Sattar Kassim, Chairman of Ex-pack extended his deepest appreciation and recognition to all the stakeholders who worked towards making Ex-pack emerge as one of the most preferred corrugated cartons supplier in Sri Lanka.
Having begun its journey during March 1997, Ex-pack gradually expanded its operation and went onto achieving record-breaking tonnage consecutively, and has become a formidable force in the Corrugated Carton Industry in Sri Lanka. Ex-pack caters to the domastic and international market in the Asian, African and middle eastern regions. It was also nominated as the best corrugated factory in Sri Lanka by PUM Netherlands.
Over the years, Ex-pack has been crowned with numerous recognitions such as NCE Gold Export Award for Most Outstanding Service Providers to Exporters (Large Category), CNCI Top 10 Award (Extra Large Category), Lanka Star ‘Innovative Packaging’ Awards including NCCSL-National Business Excellence Awards, Lanka CSR Awards and Green Awards.
Mr Sattar Kassim emphasized that the distinctive workplace culture at Ex-pack goes without saying, with core beliefs and values deeply rooted around diversity, equity and inclusivity. Its 300-plus strong workforce is actively encouraged and empowered, through various people-first initiatives including an open-door policy where anyone can walk in and discuss just about anything.
This has earned Ex-pack to be ranked among Best Workplaces in Asia for three consecutive years, by Great Place to Work in addition to being named Best Workplaces in Sri Lanka for the fourth time last year. This recognition is a testament to the tireless dedication, contribution and the admirable resilience displayed by all its employees even during the most unprecedented times.
The company’s quest to constantly innovate has enabled it to provide customers with solutions that wouldn’t have been made possible otherwise. Its commitment to uphold and enhance its quality and safety standards to that of international ones is well reflected in its ISO 9001-2015, ISO 14001-2015, FSC COC WRAP (Worldwide Responsible Accredited Production) certifications.
Ex-pack also partnered with building engineering consultancy co-energi in obtaining LEED and Carbon Neutral certifications for their factory in Sapugaskanda, as part of its unwavering commitment towards sustainability, responsible production, and environmental conservation.
Its consolidated position in the packaging market led to the recent Public Listing on the CSE. With the heavily oversubscribed IPO, Ex-pack welcomed the public to join in their journey towards emerging as one of the most preferred corrugated carton supplier in Sri Lanka.
After August only rice sachet packets available, producers warn
In the soaring of rice prices to the point of a kilo of Nadu, Sudu Kekulu and Rathu Kekulu being at the margin of Rs. 200, from next August, people may not have 05 – 10 kg rice packets to purchase but sachets carrying a quarter of rice, warned Muditha Perera, President of the United Rice Producers’ Association, speaking to a briefing held yesterday (27).
“Today, Sri Lanka has become a country that begs for rice before the rest of the world. The rice crisis in the country today is due to the frenzy for organic farming. Only two more weeks left till the Sinhala New Year. By now, local rice Nadu, Sudu Kekulu and Rathu Kekulu have reached the Rs. 200 mark. Some of them have even surpassed Rs. 200 in the selling. The price of a kilo of Keeri Samba is currently hitting the Rs. 300 mark,” Perera said.
He added: “In early January we made a revelation that the price of a kilo of rice may reach the Rs. 300 mark during the Sinhala New Year. We ask the Trade Minister if he feels ‘well‘ now. In general, 95 per cent of the small and medium scale rice producers in Sri Lanka have become inactive now. Rice queues may also be seen in the future. After August, you may not have 05 – 10 kg rice packets to buy, but sachet packets carrying a quarter of rice. We ask Minister Mahindananda whether nothing will happen to the two kidneys when eating rice from India which uses 25 per cent more chemical fertiliser than Sri Lanka. China uses 200 per cent chemical fertiliser than Sri Lanka.”
MIAP
Government replied to IMF’s 94-page report on Sri Lanka in one page: Opposition Leader (VIDEO)
The International Monetary Fund (IMF) has released a very essential and lengthy 94-page report on the current situation in Sri Lanka but the government has replied to it by a single page answer, Leader of the Opposition Sajith Premadasa revealed, speaking to the Suriyawewa Business meeting organised by Opposition Leader of the Suriyawewa Pradeshiya Sabha Subhaka Pradeep yesterday (27).
Addressing the event, the Opposition Leader pointed out that this proves the government’s knowledge and intelligence on country building and dealing with the international community, alleging that the government is in a poor position with regard to diplomatic relations.
Suggesting that it is important to prioritise science over myth in agriculture, Premadasa noted that the results of an 11-year survey carried out by the Paddy Research Institute showed that the sole use of organic fertiliser could severely decline yields.
The result of a country being downgraded through international ratings was the loss of access to even an international debt, the Opposition Leader went on, adding that Sri Lanka may now have to face the same fate.
He added that Sri Lanka has failed to build international credibility with regard to debt and that the current regime is implementing the policy of auctioning the country. All sectors that supply Dollars to the country are in a state of disarray leading to a serious dollar crisis, he emphasised.
MIAP
Reopening of international flights at Ratmalana Airport a dream come true for Dhammika Perera
The reopening of international air flights at the Ratmalana International Airport after a 54-year hiatus took place under the patronage of Sports and Youth Affairs Minister Namal Rajapaksa yesterday (27).
The Colombo International Airport, the new Subway in Ratmalana and the lined Airstrip were reopened yesterday and regional flights from the Ratmalana International Airport were also resumed from yesterday. Marking the reopening, a Maldivian government aircraft landed on the Ratmalana International Airport yesterday.
Dhammika Perera, one of the members of President Rajapaksa’s National Economic Council, also joined the opening event.
Perera has been involved in the long-run feasibility study of the Ratmalana International Airport and even has submitted proposals to governments in line and the public.
Perera’s 2019 Dialogue Manifesto ‘Sri Lanka 2030 a Developed Nation’ reveals proposals regarding the Airport as follows;
Accordingly, the reopening of the Ratmalana International Airport at the current government’s patronage for international flights would be a dream come true for Perera, in his objective for an economic growth strategy to increase the gross domestic product per capita from US$ 4,000 to US$ 12,000 in Sri Lanka.
In contrast to many parties’ focus on increasing the number of tourists arriving in the country for tourism industry boost, there should be an interest in attracting tourists who are willing to spend more and providing them with the necessary facilities, hence the significance of Mr. Perera’s proposals to uplift the nation’s airlines.
MIAP
SLPP loses vote at Multipurpose Co-operative Society in Horombawa, Kuliyapitiya
The Sri Lanka Podujana Peramuna (SLPP) has lost a vote held at the Multipurpose Co-operative Society in Horombawa, Kuliyapitiya.
Controlled by the SLPP, the Horombawa Multipurpose Co-operative Society held a ballot two days ago (26) in electing 92 members, but the Ruling Party managed to secure only 27 votes while a common entity consisting of the Sri Lanka Freedom Party (SLFP), the Samagi Jana Balawegaya (SJB) and the Janatha Vimukthi Peramuna (JVP) acting as the Opposition secured 95 votes.
The SLPP has had to face such defeats in a number of co-operative elections held in the previous period and it also had to lose in a number of local government budget elections held last year amid the growing opposition against the government triggered by the economic crisis.
MIAP
India’s External Affairs Minister Jaishankar arrives in SL for a two-day official tour
India’s External Affairs Minister S. Jaishankar arrived in Sri Lanka yesterday (27) afternoon for a two-day official tour.
During his tour, the Indian External Affairs Minister is set to meet with top authorities of the government.
India is currently providing a huge financial assistance to Sri Lanka amidst the economic crisis befallen the island nation.
MIAP