June 08, Colombo (LNW): The Embassy of Sri Lanka in Brasilia participated alongside sixty other diplomatic missions in the International Food and Culture Exhibition 2024, held at the Museu de Arte de Brasilia on June 1, 2024.

The Sri Lankan stall, adorned with scenic pictures from Sri Lanka, offered visitors a taste of Sri Lankan culture through finger foods, sweets, and Ceylon Tea. To further promote Sri Lankan tourism, promotional videos were displayed on the wide digital screen in the main lobby, and Portuguese-language tourism leaflets were distributed to attendees.

This annual exhibition, supported by the Diplomatic Missions in Brasilia, attracted approximately 8,000 visitors this year, highlighting the diverse cultural and culinary offerings from around the world.

June 08, Colombo (LNW): The United States, through the United States Agency for International Development (USAID), is bolstering Sri Lanka’s investment climate by enhancing access to commercial alternative dispute resolution (ADR). This initiative has resulted in the U.S.-sponsored training and accreditation of 23 international commercial mediators in Sri Lanka, effectively doubling the number of qualified mediators available to offer businesses a faster and more cost-effective alternative to traditional court litigation.

As part of USAID’s Efficient and Effective Justice (EEJ) project, these mediators have undergone comprehensive training in key areas such as communication, problem-solving, managing emotions, and overcoming impasses. The training was conducted by the Singapore International Mediation Centre (SIMC), a renowned independent, not-for-profit organization specializing in ADR and ADR training. Following a four-month mentorship program, these mediators will employ their new skills to facilitate around 100 commercial mediations in Sri Lanka by October 2026.

Commercial mediation, a vital form of ADR, offers a quicker resolution for disputes between businesses, or between businesses and the government or consumers. This method is not only cost-effective but also aims to preserve business relationships and supports international trade by ensuring that international settlement agreements can be enforced more effectively.

At a ceremony honoring the newly trained commercial mediators, Doug Sonnek, Deputy Chief of Mission for the U.S. Embassy, remarked, “The United States is dedicated to collaborating with Sri Lanka to create a favorable investment climate by embracing international best practices. This partnership not only equips mediators with essential skills to sidestep expensive litigation but also supports their ongoing development, thereby contributing to economic resilience and growth in Sri Lanka.”

USAID provides extensive support for ADR in Sri Lanka through the EEJ project, which collaborates with local and international experts to offer training in commercial mediation, negotiation, and ADR best practices to lawyers, law students, ADR centers, and companies. The EEJ also participates in pilot programs for judicial and court-referred mediation in partnership with the Court of Appeal and Commercial High Courts, aiming to resolve disputes swiftly and reduce delays and backlogs in the justice system. Through these comprehensive initiatives, the EEJ enhances the overall efficacy of the judicial process in Sri Lanka.

June 08, Colombo (LNW): For the first time in history, the Saudi Government has offered Muslim members of the Sri Lankan Tri-Forces a sponsored opportunity to perform the annual Haj pilgrimage in 2024. This groundbreaking initiative follows a request by Defence State Minister Premitha Bandara Tennakoon to Saudi Ambassador Khalid Hamoud Alkahtani.

Responding to the State Minister’s request, Ambassador Alkahtani secured five special quotas from the Saudi government, making this unprecedented opportunity available to Muslim Tri-Forces personnel.

State Minister Tennakoon expressed his gratitude to Ambassador Alkahtani and the Saudi Government for their generosity during a meeting held in Colombo on June 7. He acknowledged the Saudi Government’s earnest response, which has provided a once-in-a-lifetime opportunity for Muslim members of the Tri-Forces to perform the Haj pilgrimage.

Ambassador Alkahtani thanked State Minister Tennakoon for initiating the request and pledged to increase the number of quotas for defense personnel in future years. He also announced another first: the opportunity for Sri Lankan Muslim defense personnel to perform the ‘Umrah’ pilgrimage in the future. He reiterated his government’s commitment to assisting all communities in Sri Lanka and emphasized his eagerness to collaborate closely with local officials.

Sri Lanka Haj Committee member Milfer Gaffoor and beneficiary Tri-Forces members accompanied State Minister Tennakoon on his visit to the Saudi Embassy, marking a significant step in fostering goodwill and cooperation between the two nations.

June 08, Colombo (LNW): More than 25,000 dengue cases have been reported, and nine patients have died in the past five months, prompting urgent calls for public cooperation to prevent a potential epidemic.

At a press conference held at the Presidential Media Center on Thursday (6th), Dr. Sudath Samaraweera, Director Consultant of the National Dengue Control Unit, emphasized that the current flood situation could exacerbate the spread of dengue. He stressed the necessity of full public support to execute the government’s dengue control plans, highlighting that this issue extends beyond health to economic and social domains.

Consultant Dr. Anoja Dheerasinghe, Community Medical Officer of the National Dengue Control Unit, noted a rise in cases, particularly in the Colombo, Gampaha, Kalutara, Ratnapura, Kandy, Kegalle, and Kurunegala districts. She advised that the most effective way to combat dengue is by preventing mosquito breeding. She urged the public to eliminate mosquito breeding sites at home, school, and workplaces.

Dr. Ananda Wijewickrema, Chairman of the National Drug Regulatory Authority and a specialist at the National Institute of Infectious Diseases, outlined key symptoms of dengue, including high fever, body pain, vomiting, severe headache, and diarrhea. He cautioned against taking painkillers or any drugs other than paracetamol without medical advice. If symptoms persist for more than two days, he recommended undergoing a complete blood test (FBC) and seeking medical advice from a government hospital. He also advised consuming liquids with salt and minerals, such as porridge, Jeevani, thambili, and lime, while avoiding liquids containing chemicals or red coloring.

June 08, Colombo (LNW): The prevailing rainy conditions in the southwestern part of the island are expected to intensify over the next few days, starting today (June 8th).

Showers will occur intermittently in the Western, Sabaragamuwa, North-Western, and Southern provinces, as well as in the Kandy and Nuwara Eliya districts. Some areas in the Western and Sabaragamuwa provinces, and in the Nuwara Eliya, Galle, and Matara districts, may experience fairly heavy showers exceeding 50 mm.

In the Northern and North-Central provinces, as well as in the Matale district, several spells of showers are anticipated.

Showers or thundershowers might occur in a few places in the Uva province and in the Ampara and Batticaloa districts during the evening or night.

Strong winds, ranging from 40-50 km/h, are expected at times over the Northern, North-Central, and North-Western provinces, as well as in the Trincomalee and Hambantota districts.

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

June 07, Colombo (LNW): The International Labour Organisation (ILO) in partnership with Employers’ Federation of Ceylon (EFC) explores ways and means to showcase the investment potential of Northern Province, foster dialogue, and collaboration among key stakeholders, and facilitate partnerships that benefit both businesses and communities.

A delegation representing 14 leading private sector companies together with Employers’ Federation of Ceylon (EFC) engaged in a high-level visit to explore strategic investment, trade, and growth opportunities in key sectors in the Northern Province.

In addition to engagement with the Northern Province Chief Secretary Ledchumanan Ilaangovan, the visit included stakeholder consultations to provide an analysis of the opportunities and the policy and regulatory landscape for doing business in the North.

This was chaired by the Office of the Chief Secretary. The delegation also participated in a visit to the Achchuveli Industrial Estate; a networking event with entrepreneurs and business associations; as well as consultations with key sectoral actors including government organisations and regional chambers.

Appreciating the efforts to promote inclusive and investment driven growth in the region, Northern Province Chief Secretary Ledchumanan Ilaangovan said: “Looking ahead, let’s unite to transform aspirations into actions, we welcome and support the delegation promoting investment opportunities and looking forward to working with them.”

With the northern region experiencing a surge in opportunities across multiple sectors, infrastructure investments have increased, and domestic and export market focused agriculture and fisheries, as well as aquaculture hold immense potential for growth and development.

Moreover, interventions under the PAVE project further emphasises inclusivity and gender equality, ensuring that the benefits of growth are equitably shared among all members of the community, thereby fostering a more sustainable and just economic development.

In the current context of Sri Lanka’s economic recovery, Government and other ecosystem players, including private sector entities, have a crucial role in catalysing provincial and regional growth.

EFC Director General/Chief Executive Officer Vajira Ellepola said: ‘‘The EFC, as the national employer organisation, has been instrumental in creating interest within the private sector, leading up to this site visit of a business delegation to explore investment opportunities in the North.

Enterprise development, job creation, diversity and inclusion are some of the core values the EFC stands to promote.

The objectives of ILO interventions, which align closely with these values and their overall relevance to Sri Lanka’s commitment towards Sustainable Development Goals and a national policy focused on domestic production, were the driving force of our collaboration in this project.”

The visit was implemented as part of the ILO “Promoting Advancement of Vulnerable Persons and Enterprises” (PAVE) project interventions, funded by the Government of Norway.

June 07, Colombo (LNW): The Government will strive to promote entrepreneurship among youth initiating a shift in credit accessibility in the form of seed capital for them to launch new businesses and startups, former finance minister Ravi Karunanayake revealed. 

Sri Lanka’s youth population of 4.64 million or 23.2 percent of the total population are the change makers steering the country towards a flourishing entrepreneurial ecosystem and vigorous economic growth.

The need of present era is to augment the ease of doing business which was one of the priorities of the then government in 2016’s where regular business forums were held for solving problems of entrepreneurs, he disclosed.

He noted as the finance minister at that time he took measures of creating one million jobs with public private partnerships (PPPs.) removing restrictions to ensure that the private sector plays a pivotal role in economic development.

But successive governments turned the whole procedure upside down and introduced short sighted policies pushing the country into economic abyss, he claimed.  

The time has come to unleash the youth entrepreneurial skills, eliminating bureaucratic red tape, reducing roadblocks, and enabling young entrepreneurs to successfully establish and operate their ventures, he said. . 

The measures undertaken have involved significant reductions in the number of mandatory licenses and permits, fostering a more business-friendly environment and curtailing bureaucratic obstacles 

“Sri Lankan youth have frequently been the focus of public attention for the ‘wrong’ reasons. I believe it is because we, as a society, often fail to recognise them for the ‘right’ reasons” he said adding that” we have to obtain the positive contribution from them to society”. 

President Ranil Wickremasinghe has placed trust in youth to lead throughout his long political journey and he is committed to provide technical support, subsidies, financial assistance, and other services to mark their presence in the business domain, he opined. 

The President has directed to establish regional youth centres in each divisional secretariat division in a bid to empower the youth population 

The aim is to “to nurture promising entrepreneurs through these centres and to involve bank executives and trade board members in the process.

Sri Lanka has seen an uprising of youth consequent to an economic crisis which has plunged a large section of the population into poverty and economic hardships.

The government should take measures to prevent the occurrence of such struggles in the future Mr Karunanayake said adding that youths are not just having the courage and ambition to strive for something big but also forging a vibrant economic future.

Therefore the government is considering the empowerment of at least one million budding young entrepreneurs by providing seed capital for innovative startups in urban  areas and business ventures in rural areas  in the country.   

The simplification of business processes and development of a conducive entrepreneurial environment is essential to the thriving spirit of young entrepreneurs in the island nation, he pointed out. 

Sri Lanka’s agriculture sector is rife with business/investment opportunities and the government is in the process of development and upgrading of the agriculture industry to be on par with global standards.

Foreign businesses/investors could explore business/investment opportunities in the country’s agriculture sector as the government is to, make business ecosystem in place he disclosed. 

Farmers are expected to become competitive and transform from subsistence farming to commercially oriented agribusiness focusing on ‘Public-Private-Producer-Partnerships.’

It is expected to improve income of rural farmers and facilitate commercial partnerships, access to finance, knowledge transfer and mechanization. Another aim of this initiative is to attract youth into commercial agriculture, he added.

June 07, Colombo (LNW): In a significant development, the Sherisha Technologies / Supreme Global Consortium has strengthened its bid to acquire Sri Lankan Airlines with the inclusion of several high-profile strategic partners. 

This move comes as the consortium provides clarifications to the State-Owned Enterprises Restructuring Unit (SOERU) and notifies the Sri Lankan government of this significant advancement. Aviation Ministry sources said.  

SOE restructuring unit says clarifications raised at pre-bid meetings and responses provided are subsequently published on the treasury website to ensure greater transparency for the first time. 

Sherisha Technologies / Supreme Global Consortium has patnered with Terminal Holdings LLC from Abu Dhabi owned by Sheikh Tahnoon bin Zayed al-Nahyan, one of the wealthiest individuals globally.

, Terminal Holdings brings a wealth of expertise and financial muscle to the consortium. Sheikh Tahnoon is a pivotal figure in Abu Dhabi’s business landscape, known for his substantial contributions to expanding the emirate’s business interests worldwide. 

His portfolio spans multiple sectors including energy, finance, and aviation, with a net worth estimated in the billions of dollars.

 Terminal Holdings’ involvement will enhance operational and commercial efficiencies in Sri Lankan Airlines through airline advisory, ground handling operations, and in-flight catering services.

 In a bold move, the consortium has secured a partnership with Challenge Aerospace LLC and Emirates Aerospace LLC, committing to supply 20 Airbus aircraft (9 narrow-bodied A320s and 11 wide-bodied A330s) within two years of operation. 

This bold initiative is coupled with a commitment to provide up to USD 300 million worth of aircraft spares, significantly enhancing the consortium’s financial capability post-acquisition. 

The establishment of a Maintenance, Repair, and Overhaul (MRO) facility in Sri Lanka will cater to the growing regional demand, further strengthening the nation’s aviation infrastructure.

 This substantial financial backing highlights the consortium’s ability to secure large-scale funding and strategic partnerships, laying a solid foundation for the revitalization of Sri Lankan Airlines.

 Adding to the consortium’s robust financial framework is the support from MBS Global Investments, the investment arm of the Private Office of Sheikh Nayef Bin Eid Al Thani. 

MBS Global Investments is renowned for its extensive network and investment expertise, particularly in fintech, green technologies, real estate, logistics and aviation. The backing of MBS Global Investments, with its ties to the Qatar royal family and access to sovereign wealth, provides an added layer of reliability and financial strength. 

This support underscores the consortium’s ability to leverage Qatar’s immense wealth and commitment to large-scale, impactful investments.

 As previously announced, MMAG Holdings Berhad’s subsidiary, MMAG Aviation Consortium SDN BHD (MAC), continues to play a crucial role in the consortium.

 Their contributions include establishing a robust cargo feeder network for Sri Lankan Airlines, assisting in comprehensive restructuring efforts post-acquisition, and leveraging Sri Lanka’s strategic geographic position to enhance its capacity as a global air cargo hub. 

These strategic alliances, formed within a short span during the Expression of Interest (EOI) process, underscore the consortium’s commitment and capability to achieve remarkable results. Despite the current economic challenges facing Sri Lanka and the state of the airline, the consortium has demonstrated its ability to secure strategic partners and large-scale funding

June 07, Colombo (LNW): The Executive Council and the Politburo of the Sri Lanka Podujana Peramuna (SLPP) are set to convene on Friday, June 7, 2024, for a significant meeting. The gathering will take place at the official residence of former President Mahinda Rajapaksa in Wijerama, Colombo.

During this meeting, the SLPP plans to amend its constitution to establish a new main position within the party. This strategic move is expected to shape the party’s future direction and organizational structure.