July 02, Colombo (LNW): Several spells of showers will occur in Western, Sabaragamuwa and North-western provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts, with showers or thundershowers being expected to occur at several places in Uva province and in Ampara and Batticaloa districts in the evening or night, the Department of Meteorology said in its daily weather forecast today (02).
Strong winds of about (40-50) kmph can be expected at times over the Western slopes of the central hills, Northern, North-central and North-western provinces and in Trincomalee and Hambantota districts.
General public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.
Marine Weather:
Condition of Rain:
Showers will occur at several places in the sea areas off the coast extending from Puttalam to Matara via Colombo and Galle.
Winds:
Winds will be south-westerly in the sea areas around the island. The wind speed will be (30-40) kmph and it can increase up to (50-55) kmph at times in the sea areas off the coasts extending from Trincomalee to Puttalam via Mullaittivu, Kankasanthurai and Mannar and from Hambantota to Pottuvil. The wind speed will be (25-35) kmph in the other sea areas around the island.
State of Sea:
The sea areas off the coasts extending from Trincomalee to Puttalam via Mullaittivu, Kankasanthurai and Mannar and from Hambantota to Pottuvil will be rough at times. The other sea areas around the island will be moderate.
July 01, Colombo (LNW): The Sri Lanka construction industry accounting for 7.1 percent of the GDP is now poised for recovery from the set back due to economic crisis.
The Government’s decision to continue investing in the development of national road network, completion of expressways, construction of bridges and flyovers, development of urban and rural housing, establishment of 1,000 national schools and rehabilitation of small tanks.
At the same time,the present administration has been able to promote foreign funded-projects (eg. by JICA, World Bank, ADB, etc.) to fill that gap.
Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) recorded an index value of 54.5 in May 2024, indicating an improvement in construction activities, Central Bank announced.
Index compiler Central Bank said many construction projects were back on course in May after the extended holidays of the previous month. However, several respondents mentioned that the prevailed adverse weather conditions had dampened the expected improvement.
New Orders marginally increased in May compared to the previous month. As per the survey participants, road construction projects are the mostly available large-scale tenders at present. Many of them emphasised the necessity of more sizable infrastructure projects to stimulate the construction industry.
Employment continued to contract, yet at a slower pace in May, as the firms are still cautious in hiring. Further, Quantity of Purchases remained at the same level as in the previous month.
CBSL said many respondents mentioned that the price levels of construction-related materials continued to decline during the month, which is conducive to the industry.
Suppliers’ Delivery Time remained lengthened in May as well.“The outlook for construction activities over the next three months remains positive, mainly due to the expected increase in project availability,” CBSL added.
Many firms attributed the growth in construction activities to the current conducive environment and the resumption of several temporarily suspended projects.
New Orders continued to increase for the second consecutive month, reflecting the improved demand conditions in the industry. The respondents mentioned that large-scale infrastructure projects, particularly foreign-funded ones, are also among the available tender opportunities. However, Employment remained contracted in February, yet at a slower rate than the previous month. Several survey respondents cautioned about the shortage of skilled and experienced construction workers.
Further, Quantity of Purchases improved due to the increased pipeline projects. The price levels of construction materials denoted a downward adjustment during the month. Meanwhile, Suppliers’ Delivery Time further lengthened in February.Most of the firms are optimistic on the next three months mainly because of the increased availability of projects.
July 01, Colombo (LNW): The Stonewall Riots, which took place in the early hours of June 28, 1969, are widely recognised as a seminal moment in the fight for LGBTQIA+ rights.
The events that unfolded at the ‘Stonewall Inn’ in New York City’s ‘Greenwich Village’ not only sparked a wave of activism in the United States but also resonated globally, setting the stage for the modern LGBTQIA+ rights movement.
This spontaneous act of defiance against systemic oppression marked the beginning of what we now know as PRIDE. However, over the decades, the true meaning of PRIDE has been overshadowed by the commercialisation of rainbow-themed festivities, transforming a profound protest into a marketable event.
As we reflect on this historic event, it is crucial to appreciate its context, its impact, and the legacy it has left behind.
Photo: The New York Times
A Time of Persecution and Resilience
In the 1960s, queer individuals faced severe discrimination and legal challenges in the United States. Same-sex sexual acts were criminalised, and queer people were frequently harassed by law enforcement. Bars and clubs that catered to LGBTQIA+ clientele were often the targets of police raids, resulting in arrests and public shaming. The Stonewall Inn was one such establishment, a refuge for many in the queer community – many of whom were drag queens, gay men, transvestites and queer-identified sex-workers – who had nowhere else to go.
Despite these oppressive conditions, the community showed remarkable resilience. The Stonewall Inn, whilst not legally operating as a gay bar, provided a sanctuary where people could express themselves without fear. However, this sense of safety was shattered when police conducted a raid in the early hours of June 28, 1969.
Marsha P Johnson (left) and Sylvia Rivera (right) | Photo: Netflix
The Night of the Riots
On that fateful night, the police raid on the Stonewall Inn was met with unexpected resistance. Patrons of the bar, fed up with the constant harassment and discrimination, fought back. As police attempted to arrest bar-goers, the crowd outside the bar grew larger and more defiant. What began as a routine raid quickly escalated into a full-scale riot.
For solid six nights, protests and clashes with police continued in the streets of Greenwich Village. The riot was a spontaneous act of defiance against systemic oppression, a cry for dignity and equal rights. It marked a turning point, transforming the LGBTQIA+ community from passive victims of discrimination to active fighters for their own liberation.
Photo: American Experience
The Aftermath and Birth of a Movement
The Stonewall Riots served as a catalyst for the queer rights movement. In the wake of the riots, numerous LGBTQIA+ activist groups were formed, including the Gay Liberation Front and the Gay Activists Alliance. These organisations sought to harness the momentum from Stonewall to push for legislative and societal change.
The first anniversary of the Stonewall Riots was marked by the inaugural Christopher Street Liberation Day march, held on 28th June 1970. This event is now recognised as the first Gay Pride parade. The march drew thousands of participants and signalled the beginning of annual Pride celebrations worldwide.
Photo: CNN
Legacy and Continued Relevance
The Stonewall Riots have left an indelible mark on the struggle for queer rights. They symbolise the fight against injustice and the power of collective action. Each year, Pride celebrations around the world commemorate the spirit of Stonewall, reminding us of the progress made and the challenges that remain.
In 2016, then US President Barack Obama designated the Stonewall Inn and surrounding areas as a National Monument, recognising their significance in American history. This designation underscored the importance of preserving and honouring the legacy of those who stood up against oppression.
However, the fight for equality is far from over. Whilst significant strides have been made in many countries, queer individuals still face discrimination and violence. The spirit of Stonewall continues to inspire activists to push for full equality and acceptance.
Photo: The Harvard Gazette
The Commercialisation of PRIDE
In recent years, PRIDE has evolved into a global celebration marked by parades, parties, and rainbow-themed merchandise. Whilst visibility and celebration are crucial, there is a growing concern that the essence of PRIDE is being diluted by commercial interests.
Corporations flood the market with rainbow-coloured products, and businesses vie to participate in PRIDE events, often without a genuine commitment to supporting LGBTQIA+ rights beyond the month of June.
This commercialisation can overshadow the original intent of PRIDE as a protest and a call for equality. When the focus shifts to marketing and profit, the important messages of activism and solidarity can become secondary.
The rainbow flag, once a symbol of struggle and unity designed by the brilliant vexillographer Gilbert Baker, risks becoming a tool for corporate branding rather than a representation of the fight for equal rights.
Photo: Getty Images
PRIDE as a Commercial Weapon?
The utilisation of PRIDE as a commercial weapon raises several issues. On one hand, it can increase visibility and normalise queer identities, contributing to greater acceptance in society, but on the other, it can lead to “pink-washing,” where companies [not to mention certain politicians] superficially support the LGBTQIA+ community during PRIDE month without enacting meaningful policies or practices that support queer rights year-round.
This selective engagement can be seen as exploitative, using PRIDE as a marketing strategy rather than a genuine effort to support the community.
It also risks alienating those who feel that the commercial aspects of PRIDE are overshadowing the real issues still facing the queer community, such as discrimination, violence, and inequality.
Photo: emtrain
Did ‘Aragalaya‘ hijack PRIDE, or is it the other way round?
The controversy surrounding Sri Lanka being divided of opinions within the LGBTQIA+ community often leads to political influence, exhibiting PRIDE events being separately held by different local entities, having no corporation with each other. Despite the growing influence in the legislative framework positively contributing to the well-being of queer individuals, the Sri Lankan law is still being misinterpreted to having queer individuals persecuted under the abuse of sections 365, 365A and 399 of the Penal Code, and clauses evident in sections 2, 7, and 9 of the Vagrants Ordinance. In the event that the solemn truth of queers only being part of a much larger intersectional struggle of marginalised communities in Sri Lanka cannot be overlooked, PRIDE events, either stemmed from political influence or otherwise, should interact with each other, were they to regain liberation.
Reclaiming the True Meaning of PRIDE
To honour the true meaning of PRIDE, it is essential to remember its roots in the Stonewall Riots and the ongoing struggle for LGBTQIA+ rights. PRIDE should be a time to reflect on the progress made and the work still needed to achieve full equality. It should be a platform for activism, education, and solidarity, not just a commercial opportunity.
Individuals and organisations can contribute to reclaiming PRIDE by supporting LGBTQIA+ rights throughout the year, not just in June. This includes advocating for inclusive policies, supporting queer-based charities and organisations, and fostering environments where all individuals can live authentically and without fear.
As we remember the Stonewall Riots, it is essential to honour the bravery of those who resisted oppression and sparked a movement. Their actions on that night in June 1969 changed the course of history, paving the way for future generations to live more freely and openly.
The legacy of Stonewall is a reminder that the struggle for equality requires courage, solidarity, and persistence. It calls on us to continue the fight for a world where everyone, regardless of their sexual orientation, gender identity, gender expression, or sex characteristics (SOGIESC), can live with dignity and respect.
July 01, Colombo (LNW): Sri Lanka overcomes the bankruptcy following the finalisation of agreements with bilateral creditors and bondholders debt restructure in the offing to coincide with the disbursement of the third tranche of the IMF’s Extended Fund Facility (EFF) of US$ 337 million.
At the same time, President Ranil Wickremesinghe has advocated for the modernisation of the legal system to facilitate the effective implementation of the government’s economic reforms aimed at driving growth.
The Asian Development Bank’s (ADB) annual flagship economic publication, the Asian Development Outlook (ADO) – April 2024, projects moderate growth for Sri Lanka. It forecasts a growth rate of 1.9 percent in 2024 and 2.5 percent in 2025, following two consecutive years of contraction.
However, the ADB cautions that there could be a downturn in the country’s economic prospects due to uncertainties surrounding the upcoming elections.
In this backdrop, LMD reports that business confidence has spiked for a fourth consecutive month and breached the 100 mark, to a 12-month high.
LMD adds: “The LMD-PepperCube Business Confidence Index (BCI) has shown steady but tepid growth, reaching the 101 point threshold in May (vs. 96 in April).”
“This marks the barometer’s return to above 100 after a year, following its post-aragalaya peak of 108 in April 2023 when ironically, the IMF’s Extended Fund Facility (EFF) was approved. Despite this improvement however, the index remains below its all-time average of 122,” the magazine explains.
PepperCube Consultants observes that optimism about the economy has held since April while the corporate sector’s outlook for sustaining business volumes improved in June.
It adds that businesses seem to be preparing themselves for the unpredictable political climate ahead as the nation approaches a crucial Presidential Election.
A spokesperson for the magazine states: “The reality is that the corporate community is already contending with the effects of political instability and interference. And they as the top two concerns, followed closely by high taxes.”
In addition, PepperCube observes: “The economy, politics and the political culture continue to be the most pressing national issues as the corporate community braces itself for the upcoming election.”
Media Services, LMD’s publisher, says the latest edition of the magazine will be released shortly. Its digital version has been shared on the publisher’s social media platforms (the full BCI report will be uploaded on its website – www.LMD.lk).
July 01, Colombo (LNW): Sri Lanka’s dairy industry is to be revitalized rescuing from the brink of collapse, with nearly 14,000 small and medium-scale farms having ceased operations due to exceedingly high production costs.
Marking a milestone initiative to strengthen Sri Lanka’s dairy industry, DFCC Bank has allocated Rs. 500 million to finance smallholder dairy farmers, in line with its commitment to supporting sustainable development.
This dedicated initiative by DFCC Bank is the brainchild of the bank’s MSME (Micro, Small, and Medium Enterprises) Unit and is built upon the successful experience of lending to the beneficiary farmers of the USDA-backed Market-Oriented Dairy (MOD) program.
This special credit line, made available entirely by DFCC Bank, aims to provide crucial support to the sector under concessionary interest rates, fostering growth at the grassroots level, particularly amongst smallholder dairies, which form a significant part of Sri Lanka’s dairy industry.
DFCC Bank Vice President MSMEs Chandana Wanigasena made the announcement during the closeout event of the Market-Oriented Dairy (MOD) program. The “Sri Lanka Dairy—The Art of the Possible” event took place recently celebrating the MOD program’s achievements supporting Sri Lanka’s dairy smallholders.
At the event, Wanigasena highlighted the remarkable progress made by DFCC Bank’s MSME Unit, which has successfully financed over 2,500 dairy farmers through a value chain financing model supporting MOD’s efforts to transform dairy farmers into entrepreneurs.
This model has significantly contributed to the industry’s growth, exemplifying an effective and scalable approach to agricultural financing.
“DFCC Bank allocating this substantial fund underscores the BANK’S unwavering commitment to the dairy sector. By supporting the proposed DFCC-MOD Dairy Farmer Loyalty Programme and the MOD’s proven model of creating a pool of dairy entrepreneurs producing 100 litres daily, we are taking concrete steps to enhance smallholder dairy farmers’ financial sustainability and growth prospects,” Wanigasena said.
The initiative demonstrates a substantial financial investment into the dairy sector and highlights the bank’s strategic focus on critical industries with the potential for significant economic and social impact in Sri Lanka.
Offering financing under concessionary interest rates makes the initiative highly attractive and beneficial for smallholder farmers. The focus on value chain development, the adoption of 10 Key Performance Indicators (KPIs), and support for MOD’s Climate-Smart Dairy (CSD) initiative further emphasise the bank’s commitment to sustainable agricultural practices.
The Market-Oriented Dairy (MOD) project, based in Sri Lanka, is funded by the United States Department of Agriculture (USDA) ‘Food for Progress’ initiative, and implemented by Improving Economies for Stronger Communities (IESC), a Washington DC-based not-for-profit organisation.
The project’s efforts to double the milk production of participating dairy farmers to enhance their technical knowledge and create an entrepreneurial, business-oriented mindset helped farmers make intelligent investments, and the bank assessed and lent with confidence.
Through targeted support to drive sustainable development within critical industries in Sri Lanka and a strong emphasis on value chain financing, DFCC Bank plays a pivotal role in transforming the dairy sector and ensuring its long-term sustainability and prosperity.
July 01, Colombo (LNW): Women engaged in the MSME sector together with the UNDP and other key stakeholders from the government, private sector, banking and finance sector, civil society organisations (CSOs), academia has embarked on a mission to set up and sustain a coalition dedicated to implementing a holistic ‘system change’ approach.
The aim is to understand and take action on what it takes to transform the lives of women in the sector, their communities and the country as a whole
The launch of “Women Mean Business: A Coalition for Action” targets to address the challenges faced by micro, small, and medium women entrepreneurs in Sri Lanka, promoting inclusive growth.
This coalition includes various stakeholders such as entrepreneur networks, manufacturing organizations, business development service providers, trade unions, ministries, the Central Bank of Sri Lanka, financial institutions, CSOs/NGOs, development partners, academia, policymakers, media, IT support institutions, steering committees, and other coalitions.
Their collective goal is to find practical, strategic, and sustainable solutions to improve women’s access to finance and recognize their contributions to the economy.
The coalition facilitates inter-agency and interdisciplinary coordination and collaboration, creating opportunities to challenge systemic discrimination against women-led MSMEs, particularly in accessing financial resources
At the launch event, women entrepreneurs from various provinces shared their experiences and views on accessing financial products and services.
The dialogue highlighted the operational challenges of financial institutions in providing services to MSMEs and explored ways to create an inclusive and equitable financial system.
Despite a female literacy rate of 95%, only 25% of entrepreneurs in the MSME sector are women, and only 32% of women are in the labor force.
Women also face higher unemployment rates and spend considerable time on unpaid housework and care work. Moreover, only 16% of privately owned land is owned by women, and 20.4% of women have experienced intimate partner violence.
Addressing these systemic issues requires a cohesive ecosystem, which has been lacking due to fragmented efforts by various entities.
The coalition aims to create a resilient system that works for women and can withstand external risks, including those induced by climate change.
The transformation must occur piece by piece, addressing the elements that prevent equitable access to finance for women in the MSME sector. This approach aims to create a domino effect, enabling women to sustain their businesses and contribute to long-term prosperity.
Chrysalis CEO Ashika Gunasena emphasized the organization’s commitment to inclusive growth by addressing the challenges faced by marginalized women and youth.
Chrysalis, along with government, private sector, funders, civil society, and academia partners, seeks to ensure meaningful participation of women and youth in Sri Lanka’s inclusive growth. UNDP, a strategic partner in this initiative, recognizes that economic independence is crucial for gender equality. UNDP Resident Representative Azusa Kubota highlighted the importance of addressing the root causes of discrimination based on various intersecting identities.
July 01, Colombo (LNW): Ven. Banagala Upatissa Na Thero, Chairperson of the Sri Lanka Maha Bodhi Association and Japan’s Chief Sanghanayake of Dambadiva Sanchi Chethiyagiri Vihara, has paid tribute to the late MP and former opposition leader R. Sampanthan, recognising him as a respected leader with a profound vision for fostering harmony between the North and South of Sri Lanka.
In a statement, the Thero highlighted Sampanthan’s active role in promoting cooperation and contributing ideas during welfare programmes conducted by the “Religious Conference,” an initiative involving all religious leaders in the country. These programmes were aimed at supporting rehabilitation camps in the Northern Province and establishing nursery schools in the Chavakachcheri area.
His efforts clearly demonstrated his deep commitment to building a united Sri Lankan identity, he emphasised.
The Thero also added that Sampanthan’s passing is a significant loss to the entire Sri Lankan society, particularly at a time when the country is in dire need of politicians with such mature and insightful thinking.
“We express our deepest condolences to all of his family. May he be blessed with the good soul he had hoped for religiously,” Ven. Upatissa Na Thero concluded.
July 01, Colombo (LNW): The Ministry of Finance has clarified that whilst debt relief provided by official creditors through maturity extensions and interest rate reductions does not immediately impact the nominal debt stock, it significantly reduces future budget deficits and subsequent additions to the debt stock.
In a statement aimed at informing the public about agreements signed on June 26, the Ministry explained that interest rate reductions will lower Sri Lanka’s future budget deficits, thereby reducing debt flow.
Maturity extensions will create room for economic growth and improved debt service capacity, helping to reduce the debt-to-GDP ratio in line with IMF Debt Sustainability Analysis (DSA) targets, the statement added.
“The nominal debt stock is not a useful measure of debt sustainability. This is why the IMF’s DSA targets focus on the debt-to-GDP ratio and other debt flow measures such as Gross Financing Needs and Forex Debt Service as a share of GDP,” the Ministry stated.
It further noted that the nominal debt stock, whether in Rupee or Dollar terms, will continue to rise as long as the country has a budget deficit, which is a common occurrence globally.
Ensuring debt sustainability requires maintaining a primary budget surplus through recent fiscal reforms and debt restructuring to meet DSA targets, thus restoring debt sustainability.
Regarding future steps, the Ministry outlined that the final restructuring agreement with the Official Creditor Committee (OCC), as reflected in the OCC Memorandum of Understanding, will be converted into individual bilateral agreements with each OCC member.
In parallel, Sri Lanka and the Export-Import Bank of China will conclude domestic regulatory formalities to implement the Amendment Agreements, facilitating the official restructuring process.
“The successful implementation of restructuring agreements with official creditors will boost negotiations with commercial creditors,” the Ministry stated.
It added that Sri Lanka remains engaged with its bondholders and their advisers, aiming to achieve a restructuring agreement that meets DSA targets and is comparable to those reached with the OCC and the Export-Import Bank of China.
As of now, the domestic debt restructuring has been completed, and the official restructuring agreements have been concluded, leaving only the external commercial debt restructuring to be finalised to complete the overall debt restructuring process.
July 01, Colombo (LNW): Indian Prime Minister Narendra Modi has expressed his condolences following the passing of former Tamil National Alliance (TNA) leader R. Sampanthan.
In a statement on X, Modi conveyed, “My deepest condolences to the family and friends of veteran TNA leader R. Sampanthan. I will always cherish the fond memories of our meetings. He tirelessly dedicated his life to the pursuit of peace, security, equality, justice, and dignity for the Tamil community in Sri Lanka. He will be greatly missed by his friends and followers in both Sri Lanka and India.”
My deepest condolences to the family and friends of veteran TNA leader R. Sampanthan. Will always cherish fond memories of meetings with him. He relentlessly pursued a life of peace, security, equality, justice and dignity for the Tamil nationals of Sri Lanka. He will be deeply… pic.twitter.com/vMLPFaofyK
