By: Staff Writer

May 14, Colombo (LNW): The Technology Ministry has collaborated with Mastercard for the DigiEcon Global Investment Summit 2024, which is aimed at catalysing the country’s economic resurgence by encouraging collaborations between global investors, industry leaders, entrepreneurs, and policymakers.

Scheduled to be held on 25 June, the summit will focus on connecting domestic and foreign investors with Sri Lanka’s leading tech startups, allowing them to showcase their innovative products and services.

It will also facilitate knowledge sharing between the Government and industry, thereby supporting the vision of Sri Lanka becoming a digital-first nation.

The summit will include a host of activities, such as keynote addresses by subject matter experts, panel discussions involving Government and industry representatives, and one-to-one interactions between investors and startups.

The event will delve into subjects, such as emerging technologies, fintech, and the potential of the digital economy.

State Minister of Technology Kanaka Herath said, “The DigiEcon Global Investment Summit 2024 is a great opportunity to represent Sri Lanka as a prime investment destination for digital innovation.

 The event will provide a strong platform to facilitate efficient knowledge exchange and provide a fillip to the country’s economic progress through digitalisation and investment opportunities. We look forward to welcome global dignitaries and industry leaders to explore the vast opportunities our tech ecosystem has to offer.”

Mastercard Country Manager – Sri Lanka and Maldives Sandun Hapugoda said: “With immense potential to drive tech advancements across sectors, Sri Lanka is on the verge of a digital transformation that will fuel its economic growth.

Mastercard is proud to collaborate with the Ministry of Technology to support DigiEcon Global Investment Summit 2024 as it will promote innovation and collaboration within the country’s tech ecosystem, he added.

DigiEcon Global Investment Summit 2024 will focus on connecting domestic and foreign investors with Sri Lanka’s leading tech startups, allowing them to showcase their innovative products and services.

It will also facilitate knowledge sharing between the government and industry, thereby supporting his summit is a must-attend for investors, innovators, and policymakers interested in Sri Lanka’s thriving tech scene.

 The Ministry of Technology of Sri Lanka is organizing the event in association with the Ministry of Foreign Affairs, Sri Lanka Ministry of Investment Promotions & also Finance Ministry. The event will be powered by Mastercard and the industry partners for the event will be Computer Society of Sri Lanka (CSSL), BCS The Chartered Institute for IT (Sri Lanka Section), SLASSCOM and FITIS.the vision of Sri Lanka becoming a digital-first nation.

By: Staff Writer

May 14, Colombo (LNW): United States’ Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, called on President Ranil Wickremesinghe last night (13) at the Presidential Secretariat in Colombo yesterday.

During the meeting, extensive discussions were held regarding Sri Lanka’s economic recovery strategies, a statement said.

Issuing a statement, the US State Department stated last week that in his meetings, he will reaffirm the United States’ support for Sri Lanka’s economic recovery, as well as the importance of a robust civil society as a cornerstone of a free and democratic society.

“President Wickremesinghe’s unwavering dedication and commitment to implementing the economic reform program was highly appreciated,” the President’s Media Division said.

The President was accompanied by the Senior Advisor on the National security and Chief of Staff, Sagala Ratnayaka, Secretary to the President, Saman Ekanayake and US Ambassador to Sri Lanka Julie Chung.

US Assistant Secretary of State for South and Central Asian Affairs Donald Lu spoke with members of Sri Lanka’s civil society and discussed ongoing reforms and other issues.

The US Ambassador to Sri Lanka Julie Chung said that the US delegation learned about their ongoing efforts to promote peacebuilding and strengthen democratic norms.

“We reiterated that good governance, inclusion, and reform should guide Sri Lanka’s economic recovery,” the US Ambassador said.

His trip will strengthen bilateral cooperation with each country and demonstrate U.S. support for a free, open, and prosperous Indo-Pacific region.

In Colombo he was scheduled to engage with officials from across the political spectrum and deepen the United States’ partnership with Sri Lanka.

In his meetings, he will reaffirm the United States’ support for Sri Lanka’s economic recovery, as well as the importance of a robust civil society as a cornerstone of a free and democratic society.

By: Staff Writer

May 14, Colombo (LNW): The new ‘Office of International Trade’ (OIT) established at the President’s office to explore economic potential of trade and investment via linking with regional and global value chains is grappling to fulfill its task at present due to shortage of experienced and expert staff, official sources revealed. 

This office was set up as a major element of the Government’s economic revival programme. aimed at integrating South Asia and then expand to the east; China, Thailand and Indonesia linking to the Regional Comprehensive Economic Partnership (RCEP) which consists of 30% of the world’s GDP, trade and population

How ever a high official of the newly established OIT has informed the Committee on Public Finance (COPF) that it has no sufficient staff members, COPF Chairman Dr. Harsha de Silva told Parliament yesterday.

The chief negotiator of the OIT A.G. Weerasinghe has informed COPF that it is not possible to carry out feasibility studies on pending Free Trade Agreements (FTAs) with China and Thailand.

“A decision should me made whether the Department of Commerce should be continued or closed down. It will be possible to transfer officers of the Department of Commerce to the OIT if a decision is made to close down the Commerce Department,” he said.

On the directions of President Ranil Wickremesinghe, the Government has decided to reorganize the existing conventional institutional set-up and newly establish the International Trade Office (ITO) to interconnect all the relevant institutions and synergize their work to obtain maximum output from the external trade sector to the National Economy.

ITO is set to lead trade negotiations and strike deals with India, China, Thailand, Indonesia and Bangladesh with plans to join the Regional Comprehensive Economic Partnership, the President’s office said.

Sri Lanka has re-started trade negotiations with India, China and Thailand last year with a cabinet appointed National Trade Negotiations Committee headed by Chief Negotiatior

A twelfth round of talks with India, a seventh round of talks with China and the third round of talks are to be concluded this year. Sri Lanka also wants to conclude a preferential trade agreement with Bangladesh and Indonesia.

After deals with South Asia and East Asia is done, Sri Lanka wants to start talks to enter the RECEP

The ITO, has been established through an Act of Parliament and it is headed by an Ambassador of International Trade, vut it is lacking supported staff with an eminent group of advisors who has expertise in international trade and the core structure of the institution as well as designated officers from all the relevant institutions attached to it. 

May 14, Colombo (LNW): The Sri Lankan Rupee (LKR) experiences a further depreciation against the US Dollar today (14) in comparison to last week, as per the official exchange rates released by the Central Bank of Sri Lanka (CBSL).

Accordingly, the buying price of the US Dollar rose from Rs. 294.15 to Rs. 295.67, while the selling rate from Rs. 303.78 to Rs. 305.23.

Additionally, the Rupee showed depreciation against a range of foreign currencies, including Gulf currencies.

1. President Ranil Wickremesinghe wishes the Sri Lankan Cricket Team success in the upcoming Twenty-20 World Cup Cricket Tournament: congratulates the players for their representation and dedication: The team, led by Wanidu Hasaranga, is departing on the 14th: Additionally, he met with the victorious Sri Lankan Rugby team, praising their triumph in the Asian Rugby Championship.
   
2. Opposition Leader Sajith Premadasa says the SJB stands with the Palestinian people regardless of race and religion against decades of injustice to the people of Palestine: urges the Israeli government to stop these heinous attacks and massacres immediately: laments the Israeli government, in what he described as a ‘murderous regime’ destroys the lives of the Palestinian people.
   
3. Donald Lu, Assistant Secretary of State for South and Central Asian Affairs, met with representatives of the NPP at the Galle Face Hotel: US Ambassador Julie Chung also attends: discuss Sri Lanka’s economic situation, engagement with the IMF, electoral integrity, and regional security dynamics: The meeting highlights the growing significance of the NPP in Sri Lanka’s political landscape.
   
4. Water Supply and Estate Infrastructure Development Minister Jeevan Thondaman affirms the government’s readiness to confront any legal challenges from estate companies opposing the recent wage increase for estate workers: highlights progress in addressing drinking water scarcity in Jaffna and emphasises the government’s commitment to improving the quality of life for estate workers: notes estate companies swiftly increased wages following the government’s decision to set a daily wage of Rs. 1700 for estate workers.
   
5. Education Minister Susil Premajayantha reveals that out of 34,000 pre-school teachers and assistants in Sri Lanka, only 6,000 hold diplomas: with 18,800 pre-schools nationwide, he expresses concern over the lack of formal qualifications among a significant number of staff: also emphasises the importance of Early Childhood Development (ECD) and suggested replacing terms like “Montessori” and “pre-school” with “Early Childhood Development Centres”: Furthermore cites a UNICEF report highlighting that 20% of children who should have access to pre-school education are currently deprived of it.
   
6. Law enforcement conducts a nationwide operation targeting over 178,600 temporary residents over two days to address concerns about criminal activities, especially drug trafficking, linked to temporary accommodations: Directed by the IGP, the operation aims to gather and verify information on temporary residents outside their permanent police jurisdictions, yielding data on 112,963 individuals from rented houses and 34,133 individuals from rented rooms: Each person’s information will undergo thorough scrutiny, including cross-referencing with databases like AMIS, AFIS, and the Police Narcotics Bureau database, to identify any potential involvement in criminal activities.
   
7. The Central Bank urges businesses to understand the current exchange rate system to manage risks from currency fluctuations effectively: Governor Nandalal Weerasinghe emphasises the need for businesses, especially exporters, to comprehend the exchange rate mechanism to avoid losses: explains fixing the exchange rate isn’t feasible without addressing underlying macroeconomic issues: Meanwhile, Bingumal Thewarathanthri of the Sri Lanka Banks’ Association anticipated a stronger rupee after external debt restructuring, but cautioned exporters about potential challenges.
   
8. The National Physical Planning Department plans to designate 20 more religious sites as sacred areas this year, with nine already gazetted: President Ranil Wickremesinghe will inaugurate the National Vesak festival in Matale from May 21 to 27, where the Kshetrarama Rajamaha Viharaya will be designated as a sacred area: Minister Prasanna Ranatunga highlights the criteria for such designations and instructed relevant departments to address issues: Sri Lanka has already gazetted 130 sacred areas, with the impending designation in Matale being the 130th: Approval from various departments is necessary for the gazettement process.
   
9. Farmers in Anuradhapura struggle with low lime prices while middlemen profit from inflated urban rates: Asela Sampath of the National Consumers’ Organisation calls for action to address farmers’ exploitation, suggesting mechanisms to preserve surplus produce and government intervention to distribute it to schools and institutions.
   
10. Upul Tharanga, chairman of the national selection committee, expresses confidence in Sri Lanka’s T20 World Cup team: Matheesha Pathirana’s medical reports allow his participation, and Janith Liyanage was added to the squad due to visa issues: Young spinner Dunith Wellalage was chosen over Jeffrey Vandersay and Akila Dhananjaya for his suitability in power play stages: Vijayakanth Viyaskanth was selected as a travel reserve due to his performance in franchise tournaments: emphasises collective decision-making and readiness for varied pitch conditions in the upcoming tournament: SL plans to adapt during their USA pre-tournament stint.

May 14, Colombo (LNW): The National Physical Planning Department has announced plans to gazette an additional twenty places of religious worship as sacred areas this year, with nine places already gazetted thus far.

Among the sites slated for gazettement are the Uddhakandara Rajamaha Viharaya in Hambantota, Dambadeniya Rajamaha Viharaya in Kurunegala, Kotasara Piangala Rajamaha Viharaya in Moneragala, and others spanning various regions across Sri Lanka.

The upcoming National Vesak festival, scheduled from May 21 to May 27 in Matale, will witness the inauguration under the auspices of President Ranil Wickremesinghe.

During this event, the President will present the communique‘, known as Sannas Pathra, for the development of the Kshetrarama Rajamaha Viharaya in Matale as a sacred area to the temple authorities.

Notifications for the Henekadua Rajamaha Vihara in Hambantota and the Gonnawa Sri Vishnu Dewalaya in Kurunegala have been forwarded to Urban Development and Housing Minister Prasanna Ranatunga for approval.

Minister Ranatunga underscored the three criteria guiding the declaration of a sacred site and instructed relevant departments to assess requests for such declarations, address any existing issues, and initiate necessary measures to resolve them.

To date, Sri Lanka has gazetted 130 places of worship as sacred areas, with Kataragama being the first such designation on October 16, 1961.

The impending gazettement of the Kshetrarama Rajamaha Vihara in Matale will mark the 130th sacred area in Sri Lanka.

Approval from the Department of Archaeology, the Ministry of Buddha Sasana and Religious Affairs, and survey plans of the respective areas are imperative for the publication of gazettes designating them as sacred areas.

May 14, Colombo (LNW): Only 6,000 out of 34,000 pre-school teachers and assistant teachers in Sri Lanka possess diplomas, Education Minister Susil Premajayantha disclosed today (14) in Parliament.

Highlighting the statistics, the Minister noted that there are 18,800 pre-schools across the country, expressing concern over the significant portion of teachers and assistant teachers lacking formal diplomas.

In response to a query from SJB MP Hesha Vithanage, Premajayantha remarked that the terminology employed, particularly the terms “Montessori” and “pre-school,” ought to be replaced with the more accurate term “Early Childhood Development Centres.“

He underscored the crucial role of Early Childhood Development (ECD) in education, citing examples from developed nations like the US and Japan, where ECD receives paramount importance.

Quoting a UNICEF report, he lamented the accessibility gap, revealing that 20 per cent of children who should have access to pre-school education are currently deprived of it.

May 14, Colombo (LNW): Assistant Secretary of State for South and Central Asian Affairs Donald Lu held discussions with representatives of the National People’s Power (NPP) at the Galle Face Hotel yesterday (13) evening, highlighting the party’s growing significance on the political landscape in Sri Lanka.

US Ambassador to Sri Lanka Julie Chung was also present at the meeting, along with NPP MP Vijitha Herath and NPP Executive Committee Members Dr. Nalinda Jayatissa and Wasantha Samarasinghe.

The discussions centred on various pressing issues, including the current economic situation in Sri Lanka and the country’s engagement with the International Monetary Fund (IMF).

Additionally, the participants addressed concerns regarding the integrity of electoral processes and security dynamics within the Indian Ocean region.

Lu’s engagement with the NPP underscores the increasing relevance and influence of the JVP-led party, indicating a shift in the political landscape of Sri Lanka.