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President Anura Kumara Dissanayake Explores Strengthened Ties with Sichuan Province During China Visit

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President Anura Kumara Dissanayake, on his four-day state visit to China, held discussions yesterday (17) with Wang Xiaohui, Secretary of the Communist Party of China for Sichuan Province.

Chengdu, the capital of Sichuan Province, is celebrated as one of the happiest cities in China, blending cultural heritage with modern development to provide residents with a high quality of life.

The discussions focused on enhancing economic, trade, cultural, tourism, and intergovernmental relations between Sichuan and Sri Lanka. President Dissanayake recognized Sichuan’s achievements in various sectors, particularly energy, and extended an invitation for the province to share its expertise and success stories with Sri Lanka.

Highlighting Sri Lanka’s path to economic stabilization under a transparent and investor-friendly administration, the President noted that the current government, backed by a two-thirds majority, is committed to fulfilling the expectations of a united populace. He emphasized that this political stability creates an ideal environment for strengthened bilateral collaboration.

The President also underscored Sri Lanka’s appeal as a tourist destination and warmly invited the people of Sichuan to experience the country’s renowned hospitality.

Joining the discussions were Minister of Foreign Affairs, Foreign Employment, and Tourism Vijitha Herath, as well as Minister of Transport, Highways, Ports, and Civil Aviation Bimal Rathnayake.

The meeting served as a platform to explore opportunities for deeper cooperation, fostering mutual growth and understanding between Sri Lanka and Sichuan Province.

WEATHER FORECAST FOR 18 JANUARY 2025

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Rainy condition is expected to enhance over Northern, North-central, Eastern,Uva and Central provinces from today (18 January)

Weather forecast for today:

Showers or thundershowers will occur at times in Northern, Eastern, North-central, Uva and Central provinces and in Hambantota district. Heavy showers above 100 mm can be expected at some places in Uva and Eastern provinces and in Matale, Nuwara-Eliya, Polonnaruwa and Hambantota districts.

Showers or thundershowers will occur at several places elsewhere during the afternoon or Night.

Fairly strong winds of (30-40) kmph can be expected at times over Eastern slope of the central hills and Northern, North-central, Eastern and North-western provinces and in Hambantota and Monaragala districts.

Misty conditions can be expected at some places in Western, Sabaragamuwa and Central provinces and in Galle and Matara districts during the morning.

The general public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

Sinopec Oil Refinery Ongoing Project

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By Adolf

According to newspapers, Sri Lanka has signed a landmark $3.7 billion deal with the Chinese state oil giant Sinopec. A former energy ministry official told LNW that while it is claimed the country secured its biggest-ever foreign investment through this deal, officials confirmed the agreement with Sinopec on Thursday.

Former President Ranil Wickremesinghe had held discussions with Sinopec Group Chairman Ma Yongsheng and top executives in Beijing during his official visit in 2023 to address issues related to the oil refinery project in Sri Lanka and work toward closing the deal. The project is currently ongoing, with 600 acres of land already earmarked and allocated to the Chinese company for soil testing and other preliminary work.

However, due to the Presidential election, the agreements and concessions could not be finalized, the official noted. He emphasized that completing the project is a critical step for Sri Lanka’s energy sector and remarked that it is not an entirely new initiative.

Former President Ranil Wickremesinghe with the Sinopec Group Chairman Ma Yongsheng.

Sinopec and Sri Lanka Sign US $3.7 Billion Agreement for Oil Refinery

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Chinese energy giant Sinopec has announced plans to establish its first fully controlled overseas oil refinery in Sri Lanka, marking a significant milestone in its global expansion strategy.

The $3.7 billion project, formalized through an agreement with Sri Lanka’s Ministry of Power and Energy, represents the largest foreign investment secured under President Anura Kumara Dissanayake’s administration.

The state-of-the-art refinery, to be constructed in Hambantota, will have a capacity of 200,000 barrels per day (bpd), with a significant portion allocated for export.

The initiative is expected to stimulate Sri Lanka’s economic recovery and uplift the livelihoods of low-income communities, particularly in Hambantota.

The deal was signed during President Dissanayake’s visit to China, with senior officials from both nations, including Sri Lankan and Chinese ambassadors, attending the event.

Sinopec’s ambitious project follows a feasibility study approved by Sri Lanka in November 2023. The refinery is strategically aligned with Sinopec’s global goals, as China experiences a slowdown in domestic oil demand due to economic stagnation and the rise of electric vehicles.

 The company’s move into Sri Lanka positions it in competition with India, which has proposed a fuel pipeline project to meet Sri Lanka’s energy needs. Currently, India’s state-owned Indian Oil Corporation (IOC) is Sri Lanka’s second-largest fuel supplier, following the Ceylon Petroleum Corporation.

This refinery forms part of Sinopec’s broader strategy to diversify its investments globally. Alongside a petrochemical project in Saudi Arabia, the Sri Lankan venture highlights Sinopec’s focus on leveraging its expertise and resources to expand internationally.

Such diversification comes after a significant decline in Chinese overseas oil and gas investments, which plummeted from $31 billion in 2012 to $344 million in 2023, according to data from the London Stock Exchange Group.

Sri Lanka’s economic crisis has underscored the need for foreign direct investment in critical infrastructure. Colombo has been eager to establish a refinery capable of meeting 20% of domestic fuel needs while exporting surplus to earn hard currency.

However, Sinopec has expressed concerns about the profitability of focusing solely on domestic sales. The company is considering either a 160,000 bpd plant or a phased approach with two 100,000 bpd refineries, prioritizing the production of gasoline and diesel.

Negotiations have reportedly been tense, as Sinopec seeks favorable terms to secure a larger share of the domestic fuel market. The Sri Lankan government, however, has maintained its requirements for refinery output.

Sinopec’s Hambantota refinery is set to become a cornerstone of Sri Lanka’s energy sector, ensuring greater energy security while providing much-needed foreign exchange. For Sinopec, this investment cements its status as a major player in the global energy market, even as domestic challenges in China drive its international expansion.

Sri Lanka and China Strengthen Bilateral Ties via Comprehensive Cooperation

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Sri Lanka and China have reinforced their long-standing relationship through an extensive agreement to deepen their traditional friendship and enhance high-quality collaboration under the Belt and Road Initiative (BRI). The two nations also emphasized their commitment to mutual cooperation across various sectors and addressed key regional and international concerns.

China reaffirmed its unwavering support for Sri Lanka’s sovereignty, independence, and territorial integrity. It also expressed its respect for Sri Lanka’s right to independently determine its development path in alignment with its unique national circumstances. The joint statement, issued during Sri Lankan President Anura Kumara Dissanayake’s state visit to China, emphasized China’s adherence to an independent foreign policy of peace.

In turn, Sri Lanka reiterated its dedication to a non-aligned foreign policy and extended its backing for China’s efforts toward national reunification. The Sri Lankan government firmly opposed “Taiwan independence” in any form and pledged that its territory would not be used for any anti-China or separatist activities. Furthermore, Sri Lanka reaffirmed its support for China’s positions on issues related to Xizang (Tibet) and Xinjiang.

The two countries agreed to strengthen maritime cooperation based on mutual trust and benefit. This collaboration will span areas such as marine conservation, disaster relief, maritime personnel training, and environmental restoration. Both sides expressed interest in signing a Memorandum of Understanding (MoU) on Ocean Cooperation to advance a “Blue Partnership” that promotes a shared maritime future.

In the field of education, China committed to encouraging Sri Lankan students to pursue higher studies in Chinese institutions, with continued support through government scholarships. Sri Lanka expressed gratitude for China’s contributions, including assistance with the digital classroom project, and pledged to enhance teacher, student, and researcher exchanges.

Additionally, both countries will continue to develop the China-Sri Lanka Joint Center for Education and Research under the Chinese Academy of Sciences, fostering deeper collaboration in science, technology, and research.

Judicial, law enforcement, and security cooperation were also identified as critical aspects of the bilateral relationship. Both nations pledged to work together to combat cross-border crimes, including online gambling and telecom fraud. China also offered support for enhancing Sri Lanka’s judicial and law enforcement capacities by providing training and resources.

During the visit, several cooperation agreements were signed, covering agriculture, tourism, livelihood support, media, and other areas. Both governments underscored the importance of these agreements in strengthening their partnership and enhancing the well-being of their citizens.

President Anura Kumara Dissanayake expressed gratitude to the Chinese government and people for their warm hospitality during the visit. He extended an invitation to Chinese leaders to visit Sri Lanka, which was warmly received. Both sides agreed to maintain diplomatic communication to foster continued collaboration.

This state visit has further solidified the foundation for Sri Lanka and China’s relationship, ensuring ongoing cooperation and mutual benefit across diverse sectors in the years to come.

ODF Expands into South Asia with Colombo Port City Flagship Store

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One World Duty Free (ODF), a global travel retail brand headquartered in Singapore, has launched its latest duty-free store at the Port City Duty Free Mall in Colombo, marking its strategic entry into the South Asian market.

 Opened on 1 January, this store aims to provide an exceptional shopping experience to both international travelers and local consumers.

The store’s first phase features five core product categories: fragrances, wines and spirits, sunglasses, timepieces, and toys. Perfume enthusiasts can find global brands like Calvin Klein, Burberry, Hugo Boss, and Marc Jacobs.

The wines and spirits section boasts a wide array of internationally renowned labels. Shoppers will also discover a premium range of sunglasses from luxury brands such as Gucci, Saint Laurent, and Balenciaga, along with timepieces from brands like Seiko and Casio. 

Additionally, toy lovers can explore an exciting collection of LEGO sets, including Disney Princess castles and Ferrari models.

The second phase of the Port City store, set to be completed by March 2025, will expand the retail space to 12,800 sq. ft., creating an immersive and innovative shopping environment. This milestone aligns with ODF’s vision of redefining travel retail through premium products and interactive experiences.

Keira Zhang, CEO of ODF, highlighted the significance of this launch: “Opening our flagship store in Sri Lanka’s Port City marks a pivotal moment as we expand into South Asia. 

Our curated selection of world-class brands reflects our commitment to delivering an unmatched retail experience while supporting Colombo’s transformation into a premier retail and tourism hub.”

ODF’s Port City Duty Free Mall is expected to attract over 2 million visitors annually, reinforcing its status as a key destination for travel retail. The project also underscores ODF’s focus on emerging markets and its commitment to innovation and customer satisfaction.

Sri Lankan passport holders, including dual citizens and foreign residents with valid visas, are eligible for an annual duty-free allowance of $2,000 within four days of arrival. Tourists with valid foreign passports are exempt from the annual allowance limit and can make purchases starting from their arrival date.

For added convenience, tourists can collect their purchases from the airport pickup counter at Bandaranaike International Airport (BIA).

With its flagship store in Colombo, ODF positions itself as a key player in the South Asian travel retail landscape, offering a blend of luxury, convenience, and innovation to elevate the shopping experience.

Mullaitivu Residents Halt Mineral Sand Mining Demanding Accountability

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The determined residents have thwarted the resumed efforts of excavation of mineral sand in Mullaitivu, in a major resistance to exploitation of resources in war-affected Vanni District of Sri Lanka.

A project by the Indian-linked Midwest Heavy Sands that was granted licenses by the previous administration came under public protests on December 13, forcing officials and company representatives to flee the area without being able to carry out their survey.

This incident underscores the growing resistance from communities in Sri Lanka’s war-affected Vanni District to exploitative resource extraction projects.

The determined opposition in Mullaitivu, led by residents and local leaders like TNA MP Thurairasa Raviharan, reflects a broader demand for sustainable development and public participation in decision-making.

The protests highlight the importance of involving local communities in decisions about resource use, especially in areas still recovering from the war. Residents are calling for public consultation and transparency, rejecting top-down, exploitative projects that threaten the environment and livelihoods.

: The devastation caused by previous mining projects, such as in Kokkilai, serves as a stark reminder of the long-term environmental and social consequences of poorly managed resource extraction. This history fuels mistrust of new ventures.

The continuation of projects approved by previous administrations, like Midwest Heavy Sands, demonstrates the challenges in reversing harmful policies. President Anura Kumara Dissanayake’s government faces the task of aligning current policies with the NPP’s manifesto promises of sustainability and public involvement.

: This resistance signifies the rising awareness among marginalized communities about their rights and the need for sustainable resource management. It also sends a strong message to foreign investors and governments about the risks of ignoring local voices.

: Raviharan’s demand for addressing past destruction in Kokkilai emphasizes the need for accountability. Restoring damaged lands and compensating affected communities could be a precondition for future projects to gain local acceptance.

This episode also reflects a potential shift in governance under Dissanayake’s administration, where public opposition and demands for accountability could shape a more sustainable and equitable approach to resource management.

The government’s next steps, particularly in addressing past grievances and ensuring participatory decision-making, will be critical in rebuilding trust with the people of Mullaitivu and beyond.

CBSL Launches Digital Payments Promotion Campaign 2025 to Drive Economic Growth

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The Central Bank of Sri Lanka (CBSL) has officially launched the Digital Payments Promotion Campaign 2025, themed “Shaping the Future through Digital Transactions”, to accelerate the adoption of digital payments across the country.

The campaign was inaugurated by CBSL Governor Dr. Nandalal Weerasinghe on January 9 at the Magam Ruhunupura Administrative Complex in Hambantota. Organized with the support of Hambantota District Secretary Bimal Indrajith De Silva, financial institutions, and telecommunication service providers, the event witnessed significant participation from public officials, Micro, Small, and Medium Enterprises (MSMEs), and the general public.

In his keynote address, Governor Weerasinghe stressed the transformative potential of digital payments in fostering economic development and improving the quality of life for all citizens. He called for greater collaboration among government institutions, businesses, and financial institutions to popularize digital payment methods.

Hambantota District Secretary Bimal Indrajith De Silva emphasized the necessity for financial institutions to simplify technological processes to ensure accessibility for all segments of society.

CBSL Deputy Governor J. P. R. Karunaratne announced that similar awareness campaigns would be held island-wide, particularly targeting remote areas to enhance financial inclusion and allow all citizens to benefit from digital payment systems.

The event featured active participation from banks, finance companies, e-money service providers, and mobile payment application providers. Attendees were guided on how to use mobile phones for digital transactions through the LANKAQR payment method, known for its speed, safety, affordability, and user-friendliness. Vendors at the venue also showcased the convenience of accepting digital payments for daily transactions.

This campaign marks the first in a series of initiatives by CBSL to promote digitalization, aligning with the Government’s broader strategy to achieve sustainable and inclusive economic growth through modern financial technologies.

China Reaffirms Support for Sri Lanka’s Sovereignty During President Dissanayake’s Official Visit

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Chairman of the Standing Committee of the National People’s Congress of China, Zhao Leji, has reaffirmed China’s commitment to supporting Sri Lanka’s sovereignty, territorial integrity, and independence.

The statement was made during a meeting with President Anura Kumara Dissanayake on the second day of his four-day official visit to China, according to the President’s Media Division (PMD).

Welcoming President Dissanayake, Chairman Zhao emphasized the importance of fostering continuous and cooperative engagement between China and Sri Lanka, underscoring the strong ties between the two nations.

The meeting was attended by Sri Lanka’s Minister of Foreign Affairs, Foreign Employment, and Tourism, Vijitha Herath; Minister of Transport, Highways, Ports, and Civil Aviation, Bimal Rathnayake; Chinese Ambassador to Sri Lanka, Qi Zhenhong; and Sri Lankan Ambassador to China, Majintha Jayasinghe.

The discussions highlighted the mutual commitment to deepening collaboration and strengthening the historic partnership between the two countries.

SJB Working Committee Approves Talks with UNP

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The Working Committee of the Samagi Jana Balawegaya (SJB) has approved a proposal to initiate discussions for potential collaboration with the United National Party (UNP). A five-member committee, led by SJB General Secretary Ranjith Madduma Bandara, has been appointed to lead these discussions.

Speaking after the Working Committee meeting, SJB leader and Leader of the Opposition Sajith Premadasa emphasized the party’s determination to oppose the government’s repression and prepare for the upcoming Local Government (LG) Elections. He stated that the party is ready for the elections and intends to engage with all opposition parties ahead of the polls.

On November 24, Gampaha District SJB MP Harshana Rajakaruna expressed openness to working with the UNP, provided former President Ranil Wickremesinghe allows Sajith Premadasa to assume leadership. During a media briefing in Colombo, MP Rajakaruna called on all right-wing political forces to unite with the SJB, underscoring their intention to initiate discussions after Wickremesinghe’s return to Sri Lanka.

This potential alliance reflects a strategic move to consolidate opposition forces in the face of upcoming elections and growing public discontent with the government.