May 31, Colombo (LNW):Seylan Bank PLC, in collaboration with the Asian Development Bank (ADB) and the Government of Sri Lanka (GoSL), will disburse Working Capital and Long-Term Loans from the ADB, aimed at bolstering the Small and Medium Enterprise (SME) sector in the country.

In an effort to stimulate economic growth and support local businesses, Seylan Bank will offer financial assistance to SMEs engaged in various industries, including Agriculture, Fisheries, Ornamental Fisheries, Aquaculture, Livestock, Animal Husbandry, Poultry, Tourism, and Export-Oriented Businesses. 

Seylan Bank has been a consistent partner in regard to ADB funding in Sri Lanka. Through ADB’s credit lines, the Bank has disbursed loans to the SME sector and Tea Smallholders in the past.

SMEs looking to enhance their working capital will benefit from the competitive repayment rate of 8% for a three-year period. 

Additionally, for other purposes such as building finishing work, purchase of fixed assets, or acquisition of commercial vehicles, loans with a six-year tenure are available at the same repayment rate of 8.5% to 11%.

One of the key initiatives introduced by Seylan Bank is the SME Hub, a pioneering concept tailored to meet the unique needs of SMEs.

 The Seylan SME Hub aims to streamline financial services, offering convenience and speed through the bank’s extensive island-wide branch network. The dedicated banking services provided through the SME Hub include special advisory support to guide SMEs through their financial journey.

Moreover, export-oriented SMEs will have access to Seylan Bank’s revolutionary ‘Export Expert’ service. 

This innovative offering is designed to empower SMEs by providing comprehensive support and knowledge-sharing, enabling them to excel in the global market. ‘Export Expert’ equips SMEs with the necessary tools and relevant financial literacy required to navigate and thrive in challenging times.

Speaking about this strategic collaboration, Ranil Dissanayake, DGM Branch Credit at Seylan Bank, expressed enthusiasm for the positive impact the initiative would have on the MSME/SME sector. “We are proud to partner with the Asian Development Bank and the Government of Sri Lanka to support the growth and development of small and medium-sized enterprises. Through our competitive loan offerings and dedicated services such as the SME Hub and Export Expert, Seylan Bank aims to be a catalyst for success for businesses across various industries

May 31, Colombo (LNW): A six-member delegation from Singapore’s Immigration and Checkpoints Authority (ICA) is in Sri Lanka to conduct a comprehensive study of airport and immigration department operating systems.

“The purpose of this visit is to provide cooperation to improve Sri Lanka’s immigration system by achieving the same standards as Singapore and integrating advanced technology,” the Ministry of Public Security said in a statement.

“This will greatly contribute to Sri Lanka’s efforts to modernize and improve all processes related to immigration, visa issuance and citizenship.”

The team, who are here after Minister Tiran Alas requested Singapore Minister for Law K Shanmugam’s help, will provide a detailed report on recommendations to bring the existing system on par with that of Singapore.

Sri Lanka recently controversially outsourced its visa handling function to VFS Global, which requires the payment of “processing” and “convenience” charges of 26 dollars, even though the government does not collect any fees.

Maldivian authorities have reminded Sri Lanka of the long-standing bilateral agreement under which their citizens could travel freely between the two neighbours without any charges or bureaucratic barriers.

Singapore is another country which could take action against Sri Lanka if the bilateral deal is found to be violated, according to a source .

There are only a handful of countries to which Sri Lankan passport holders can travel without any visa restrictions.

The move comes amid repeated complaints on overcrowded immigration desks at the main Bandaranaike International Airport (BIA).

The ICA is responsible for securing Singapore’s borders against the entry of undesirable people and cargo through land, air and sea checkpoints.

It also administers immigration and registration services, such as issuing passports and Identity Cards to Singapore citizens, and immigration passes and permits to foreigners.

The ICA enforces laws and regulations relating to immigration and registration and is under the Singapore Ministry of Home Affairs.

“I have asked Singapore government to study our airport and immigration to modernise them to the standards of Singapore and to give us a report on that,” Alles told reporters at a media briefing 

“They are from Singapore Immigration Checkpoint Authority. I personally spoke to the minister in charge. This was about six months back. Last week also when I was there, I had a meeting with him and they will do a complete study and give us a report.”

“Then they will give us a comprehensive report. We may not be able to do this at once. But we have to target to bring the standard to that level,” the Minister said.

May 31, Colombo (LNW): Sri Lanka tourism promotion bureau’s   strategic partnership with Emirates airlines has resulted in bringing the highest number of tourists in to the island by its flights during the past two years.    

It has extended support during the three decades of long relationship and especially during the pandemic time to effectively promote tourism and serve the market.

Sri Lanka tourism has benefited from joint activities including trade shows, trade familiarisation trips, exhibitions, and workshops with air traveling facilities provided by Emirates.  

 Under this set up Global airline’s travel services arm dnata Travel to host key destination promotion event “Horizon: Sri Lanka” on 3 June in Colombo to increase bookings to the country

Emirates Group revealed yesterday that outlook for travel to Sri Lanka has been increasingly strong in 2024, with passenger bookings up more than 200% compared to 2023 levels.

The UAE and UK continue to represent the most prominent source markets seeking to travel to the country, it added.

To further boost destination “Sri Lanka” the Emirates-linked dnata Travel Group on 3 June will hold a travel industry event in Colombo hosted by senior representatives from its global brands.

 Sri Lanka, aims to connect dnata Travel Group brands including UAE-based dnata Travel, UK-based Travelbag, its corporate travel division (dnata Travel Management), its partners at Emirates Holidays, and others, with the local travel and hospitality industry in Sri Lanka, to increase global travel bookings to the country.

dnata Travel Group Divisional Vice President, Global Ground Services Sebastien Doussin said: “A key element of the strategy for our global travel brands is to continue to increase our presence and strong industry connections across the Indian Ocean, as we remain one of the most prominent producers of room nights to its range of attractive destinations.” 

He said “Horizon: Sri Lanka” marks the third event it has held across its island locations, following successful editions in the Maldives and Mauritius. 

“Our events compliment the Strategic Plan for Sri Lanka Tourism 2022-2025 to engage in joint promotions with airlines, travel agents, and tour operators. We hope to encourage future collaboration across the industry and further boost tourism,” Doussin added.

“At our upcoming event, business leaders from across the dnata Travel Group will showcase opportunities for growing tourism to Sri Lanka in key markets, including the promotion of its diverse attractions, cultural richness, air connectivity, diverse accommodation offering, affordability, and more – to position the country as a year-round travel destination of choice for our travellers.” 

Other, key opportunities will include  Multi-centre holidays: Positioning Sri Lanka as part of wider, multi-centre trip planning, to capitalise on strong customer demand across dnata Travel Group brands for destinations such as Dubai and the Maldives, all accessible and serviced by Emirates. 

May 31, Colombo (LNW): The Department of Examinations is expected to release the results of the 2023 GCE Advanced Level Examination either today or tomorrow, according to a report by Lankadeepa Newspaper.

A total of 346,976 students participated in the 2023 GCE Advanced Level Examinations, which were held in January. Among these, 281,445 were school applicants and 65,531 were private applicants.

The Commissioner General of Examinations has stated that once released, the results will be available on the following websites:

• www.doenets.lk
• www.results.exams.gov.lk

May 31, Colombo (LNW): Notorious underworld figure and drug trafficker Ruwan Jayasekara, alias “Midigama Ruwan,” has been brought back to Sri Lanka from Dubai by a team of officers from the Criminal Investigations Department (CID), Police Spokesman DIG Nihal Thalduwa announced today.

Jayasekara is accused of being involved in planning the escape attempt of infamous drug trafficker Nadun Chinthaka, alias ‘Harak Kata,’ from the CID headquarters in Colombo. In March, it was reported that “Midigama Ruwan” had been arrested by the Dubai Police based on an Interpol warrant, with expectations of his extradition to Sri Lanka.

Considered one of the leaders of Harak Kata’s drug network following the latter’s arrest in Madagascar and subsequent extradition to Sri Lanka, Jayasekara is also accused of orchestrating an attack on the CID head office in Colombo to free Harak Kata. This plot, however, was ultimately foiled.

1. President Ranil Wickremesinghe stated that he is actively working to address wage disparities across all sectors of the public sector. Highlighting the country’s economic recovery, the President acknowledged that while Sri Lanka is beginning to regain its footing, there remains a significant journey ahead. He emphasized the need for the trade union movement to adapt to current changes and contribute to the nation’s progress.

2. Transport, Highways and Mass Media Minister Dr. Bandula Gunawardhana stated that Opposition Leader Sajith Premadasa going to schools is a political farce. Speaking at the inauguration of Odatugama-Adiyagala road renovation project at the request of founder of Jathika Namal Uyana Ven. Wanawasi Rahula Thera, the Minister said that every government has carried out development projects, road development projects on credit.

3. Power and Energy Minister Kanchana Wijesekera announced that coal power plants in Sri Lanka will be decommissioned, as per the country’s long-term generation plan. He said that Sri Lanka has set a target of securing 70% of the country’s energy requirement via renewable energy, by 2030.

4. Seylan Bank PLC, in collaboration with the Asian Development Bank (ADB) and the Government of Sri Lanka (GoSL), will disburse Working Capital and Long-Term Loans from the ADB, aimed at bolstering the Small and Medium Enterprise (SME) sector in the country. In an effort to stimulate economic growth and support local businesses, Seylan Bank will offer financial assistance to SMEs engaged in various industries, including Agriculture, Fisheries, Ornamental Fisheries, Aquaculture, Livestock, Animal Husbandry, Poultry, Tourism, and Export-Oriented Businesses.

5. State Minister for Finance, Shehan Semasinghe stated that only those wishing to plunge the country back into an economic crisis would oppose the Economic Transformation Bill. He emphasized that while the current government is focused on an optimistic economic outlook, the opposition groups are driven solely by political motives.

6. A ship, owned by an Indian company, has been taken into custody by Sri Lanka’s Marine Environment Protection Authority (MEPA) for causing an oil spill while anchored at the Colombo Port, it was reported. According to a MEPA official, compensation was sought for the oil spill under the Marine Environment Protection Authority Act, while the company’s owner has admitted to the incident and agreed to provide compensation.

7. Minister of Foreign Affairs Ali Sabry says that the western countries have shown their ‘double standards’ by ‘turning a blind eye’ to the crisis in Gaza and that, serious amendments must be made to the international laws on how the United Nations functions in order to protect international democracy. Minister stated that Sri Lanka is of the view that the Israel-Palestine war must come to an end immediately and both countries must exist as per the borders announced in 1965. 

8. State Minister of Foreign Affairs Tharaka Balasuriya states that Sri Lanka is working closely with the Government of Russia to repatriate Sri Lankans who are working with the Russian forces. Russia’s Ambassador to Sri Lanka Mr. Levan Dzhagaryan, the State Minister also expressed that the ministry has requested that those who choose to remain will not be sent to the frontlines of the war in Ukraine, and will continue to receive their salaries and benefits in full.

9. The Committee on Public Finance (CoPF) has directed the officials of the Welfare Benefits Board to prioritise the criteria that can be verified and determined in order to accurately identify poverty while selecting the “Aswesuma” beneficiaries. Drawing examples, the committee pointed out that individual poverty can be identified better based on the electricity bill amount considering the electricity units consumed in each home, the Parliamentary Communications Department said in a statement.

10. Police have arrested two Canadians for assaulting several persons at Chunnakam. Police said that the attackers had forcibly entered a house and assaulted those present over a financial dispute.Police arrested the two Canadian passport holders after those who had been assaulted lodged a complaint with Chunnakam police. They were to be produced before the Mallakam Magistrate court.

May 31, Colombo (LNW):Russian Ambassador in Colombo, Levan Dzhagaryan, stated yesterday that Western countries are exploiting the issue of trafficked Sri Lankan ex-servicemen to harm bilateral relations between Russia and Sri Lanka. He questioned why these countries are not addressing the presence of mercenaries in Ukraine.

Dzhagaryan emphasized that Russia is taking this matter seriously, with a special discussion scheduled at the Russian Defence Ministry between senior officials and the head of the Sri Lankan Mission in Moscow. This discussion, which took place yesterday evening, marks the first step towards resolving the issue. The ambassador assured that collaborative efforts will be made to address the situation promptly.

Furthermore, Dzhagaryan remarked that Ukrainian President Volodymyr Zelenskyy is no longer in office, as his tenure has ended.

May 31, Colombo (LNW):Education Ministry’s Additional Secretary, Chandima Janaki, announced yesterday (30) that steps have been taken to increase the interest-free loan given to students aspiring to pursue higher education in private universities from Rs. 800,000 to Rs. 1.5 million. The Cabinet has approved this increase, benefiting seven groups of students since the scheme’s inception in 2017.

Janaki noted that while loans had been provided without a guarantor, recent attempts by two groups to evade repayment have prompted the introduction of a guarantee requirement to secure these loans.

The revised loan amounts are Rs. 1.5 million for an engineering degree, Rs. 1.2 million for a chemistry degree, Rs. 1 million for a technology degree, and Rs. 900,000 for freshmen. Additionally, the loan scheme, initially facilitated by state banks, will now also include private banks.

May 31, Colombo (LNW): State Foreign Affairs Minister Tharaka Balasuriya announced yesterday that the Sri Lankan Foreign Ministry is working with Russian authorities to prevent trafficked Sri Lankan ex-servicemen from being deployed to the battlefront. As of yesterday, all males visiting Russia on a visit visa must possess a no-objection letter from the Defence Ministry to obtain a visa.

At a joint press conference with Russian Ambassador in Colombo, Levan Dzhagaryan, Balasuriya stated that a Sri Lankan delegation will visit Russia on June 5 to address this issue with Russian authorities. Discussions will focus on ensuring that Sri Lankans are not sent to the battlefront.

Balasuriya emphasized that Sri Lankan officials are striving to repatriate those who wish to return from Russia. He revealed that job agencies have trafficked ex-servicemen to Russia with promises of higher wages and Russian citizenship, leading many to take loans or sell possessions to fund their journey.

Some individuals traveled to Russia via Dubai and India. The government has received over 455 complaints about ex-servicemen being sent to the warfront in Russia, with 16 reported missing and 26 repatriated after seeking help from the Sri Lankan mission in Moscow.

Balasuriya noted the difficulty in determining the exact number of Sri Lankans on the warfront or the total fatalities. He acknowledged that the number of missing, injured, or deployed ex-servicemen might be higher.

These individuals entered Russia under various pretexts, making it challenging to prevent their legal entry. Balasuriya clarified that the conflict is not in Russia but in Ukraine, complicating the situation further.