May 09, Colombo (LNW): President Ranil Wickremesinghe underscored the pivotal role of agricultural progress in driving rural economic development during a ceremony at Temple Trees on Wednesday (08).

Addressing the event where 2,100 new Grama Niladhari officers received their appointment letters, President Wickremesinghe highlighted the importance of these officials in executing various government initiatives, particularly the agricultural modernisation programme.

Following the Grama Niladhari Service Examination held on 02nd December 2023, 2,100 candidates with the highest scores were appointed as Grama Niladhari officers at the Divisional Secretariat Divisional Level.

President Wickremesinghe distributed appointment letters to symbolise the commencement of their roles and briefed them on government schemes like “Aswesuma” and “Urumaya” aimed at uplifting low-income individuals and fostering community economic development.

The President commended the officers for their crucial role in shaping the country’s future and highlighted the significance of their administrative duties in the country’s basic administrative structure.

He emphasised the collaborative effort between Divisional Secretaries and Grama Niladhari officers, outlining key areas for joint action, including the “Aswesuma” programme to support low-income earners and initiatives to enhance income sources and land ownership rights.

Wickremesinghe stressed the importance of agriculture in revitalising the economy, citing recent successes in agricultural productivity and outlining a comprehensive strategy for agricultural development starting at the Divisional Secretariat Divisional Level.

He highlighted the role of private sector collaboration in agricultural modernisation and announced plans to extend the initiative to 100 Divisional Secretariat Divisions by the following year.

Additionally, the President mentioned ongoing efforts in rural education and health improvement and initiatives to streamline land deeds under the “Urumaya” programme.

He expressed confidence in the collective engagement of the community and anticipated the successful implementation of the programme’s objectives within the next two months.

By: Isuru Parakrama

May 09, Colombo (LNW): Showers or thundershowers will occur at several places in most provinces of the island after 2.00 p.m., with fairly heavy showers above 75 mm being expected to occur at some places in North-central, Central, Sabaragamuwa, Eastern and Uva provinces and in Mullaitivu district, the Department of Meteorology said in its daily weather forecast today (09).

Showers will occur at several places in Western and Southern provinces during the morning too, the statement added.

General public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.

Marine Weather:

By: Staff Writer

May 08, Colombo (LNW): Tourism Minister Harin Fernando, who is in Dubai to attend the Arabian Travel Mart (ATM), yesterday met the Dubai Civil Aviation Authority, Emirates Group Chairman/CEO and Dubai World Chairman Sheikh Ahmed bin Saeed Al Maktoum.

The meeting was on the sideline of a ceremony to sign an agreement between Sri Lanka Tourism Promotion Bureau (SLTPB) and Emirates Airlines for the latter to promote Sri Lanka as a tourist destination. Fernando said Al Maktoum has reiterated his commitment to support Sri Lanka tourism.

Emirates this week announced that Sri Lanka will be among the first nine destinations to which the world’s leading carrier will deploy Airbus A350 aircraft to Colombo flights from 1 January 2025.

Sri Lanka is putting up a positive show with the participation of over 70 local travel agencies, DMCs and hotels at ATM 2024, the largest travel and tourism exhibition in the region, which will run until Thursday.

The tourism and airline industries of Sri Lanka have reportedly launched a special promotion campaign to attract tourists from Sri Lanka’s largest source market, India.

The country’s tourism industry is currently on a path to revival from the setback suffered following the Easter Sunday terror attacks.

Also, Sri Lanka’s national carrier SriLankan Airlines has reportedly launched a comprehensive package which includes airfare, hotel accommodation on B&B basis, transport as specified in the itinerary, and the service fee of the tour operator.

Sri Lanka Tourism will concentrate on India more than any other market, and that is our best bet at this point. Meanwhile, Sri Lanka Tourism Promotion Bureau (SLTPB) announced that based on the success of the Indian campaign, tourism authorities would extend the promotion campaign to China, followed by the Middle East.

Sri Lanka’s tourism sector is engaged in formulating a massive promotional campaign to boost the industry that faced a negative impact following Easter Sunday attacks and economic crisis .

Tourism experts have predicted a quick revival of Sri Lanka’s tourism sector with even the UNWTO chief calling on the international community to support Sri Lanka’s tourism sector. Given all this and the incentives offered by the government of Sri Lanka, foreign businesses/investors could explore business opportunities in Sri Lanka’s tourism sector.

By: Staff Writer

May 08, Colombo (LNW): LIPTON Teas and Infusions yesterday announced it has agreed terms of a partnership which will result in the transfer of its tea estates in Kenya, Rwanda, and Tanzania to Browns Investments alongside an agreement that all tea sold by Browns worldwide will be grown and harvested to a new set of standards covering quality, social and environmental protections.

This long term partnership will make Browns the world’s leading tea exporter – around 87 million kilograms each year as well as one of the largest suppliers to the world’s largest tea company, LIPTON Teas and Infusions.

By working together, the two companies will raise tea quality globally and accelerate the application of responsible farming methods across the industry to drive sustainable growth. Browns will invest in its estates in Kenya and Sri Lanka to meet the new standards by 2025, as well as in the creation of additional skilled employment opportunities in Kenya.

Browns separately in a filing to the Colombo Stock Exchange said subsidiary B Commodities ME FZE incorporated in the United Arab Emirates has entered into a Sales and Purchase Agreement (SPA) with Ekaterra Holdco UK Ltd., Ekaterra Group Holdings BV incorporated in Netherlands to acquire the controlling stake of four companies for a consideration to be calculated at completion in accordance with the provisions of the SPA.

This is Brown’s second overseas acquisition following the purchase of James Finaly (Kenya) Ltd last year.

In line with Lipton Teas and Infusions’ vision of creating value for all, the proceeds or the transaction will be reinvested into the East Africa region to drive local and industry-wide progress in relevant areas such as skills development and climate change mitigation.

The Government of Kenya has supported the companies in identifying opportunities for local communities to benefit from the partnership and future growth of the industry.

Shares totalling 15% of the main Kenyan operating company will be offered to the communities of Kericho and Bomet, where the estates are situated, at a substantial discount to create accessible communal equity and mutually aligned economic participation.

LIPTON Teas and Infusions and Browns are also jointly creating a Community Welfare Trust with an initial one billion Kenyan shillings dedicated to helping address other needs at local and neighbouring communities.

LIPTON Teas and Infusions CEO Nathalie Roos said: “Browns is the preferred partner with credibility, capabilities and scale, to work with us to raise standards in the whole tea industry. The team’s commitment to sustainability and community development aligns with our own. Together, we are setting a new precedent for transforming the global tea market – one cup at a time.”

Browns Investments Plc Chief Executive Director Kamantha Amarasekera said: “they look forward to working hand-in-hand with LIPTON Teas and Infusions and local partners to foster a sustainable, responsible, and prosperous future for all. This partnership marks a significant step towards elevating the-industry as a whole, while also ensuring a positive impact on the livelihoods of the communities

By: Staff Writer

May 08, Colombo (LNW): Sri Lanka has decided to sign a 20-year wind power deal with India’s Adani Green Energy Limited.

The Cabinet of Ministers had granted approval at their meeting held on 07.03.2022 to enter into a memorandum of understanding with M/s Adani Green Energy Limited of India to develop wind power stations in Mannar and Pooneryn.

Accordingly, a negotiations committee has been appointed by the Cabinet of Ministers in order to evaluate the project proposal furnished by the said Company.

Based on the recommendations of that Committee, the Cabinet of Ministers has now granted approval to a resolution forwarded by the Minister of Power and Energy Kanchana Wijesekera to accept the last price as USD $ 8.26 cents (subject to payment in Sri Lankan Rupees as per the actual foreign exchange rate) per KW for the electricity generated under the proposed project.

The Government said that it has also been decided to award the tender to M/s Adani Green Energy SL Limited for a period of 20 years.

Adani Green Energy’s US$442 million wind power project in Mannar and Pooneryn is undergoing a technical review of the Sri Lanka Sustainable Energy Authority (SLSEA) following Environmental Impact Assessment (EIA) public consultation process

The proposed wind farm will comprise 52 wind turbines of 5.2 MW capacity each will be spread across most parts of Mannar which will become a “death trap” for migratory birds, they added.

The Environmental Impact Assessment (EIA), including Birds and Bats Studies was carried out by the Sri Lanka Sustainable Energy Authority (SLSEA), under the leadership of, Senior Prof. Devaka Weerakoon Professor, Department of Zoology and Environment Sciences, University of Colombo.

The report was based after year-long on-ground studies and data sets of The Ceylon Bird Club (CBC), The Field Ornithology Group of Sri Lanka (FOGSL) and Ramsar data sheet were also considered. The EIA guides several steps for the developer to reduce the environmental impact.

Adani Group will deploy modern technology to not just minimize the project’s potential environment impact but also deliver it on time and budget, a spokesman of the company. Jamien Boulton said

For the first time in the island nation, 5.2 MW Wind Turbine Generator (WTG), one of the most powerful onshore wind turbines in the world, will be used, providing higher generation at a lower overall footprint, he disclosed.

The project will implement AI-based radar systems to detect incoming flocks and automatically shut down turbines during high-risk periods, he said.

Acoustic and visual deterrents such painting the tip of the blades will be installed to deter birds from flying into them, and also use taller turbines with slower blade rotation speeds, reducing collision risks, he reiterated

By: Staff Writer

May 28, Colombo (LNW): Sri Lanka’s gross official reserves have continued to increase through the end of April topping the US$ 5.0 billion level for the first time since December 2020 when the country was coming out of the second wave of the virus outbreak.

This was the country’s highest foreign reserve level since the island nation plunged last year into its worst economic crisis since independence in 1948.

The “higher than anticipated” rise follows the inflow of $787 million in funds this month from global lenders including the International Monetary Fund, the World Bank and the Asian Development Bank, the Sri Lankan president’s office said.

While the official data is just a few days from its release to the public, the Central Bank Governor, Dr. Nandalal Weerasinghe this week disclosed the latest foreign currency levels in the country by the end of April which was at US$ 5,438 million.

This was a robust US$ 487 million increase in foreign currency reserves within April. April reserves also marked the highest from over three years in January 2021 when the reserves were at US$ 4,814.6 million.

Thereafter the country’s reserve buffer gradually weakened due to the weak foreign currency inflows from both tourism trade and remittances at the time.

The outflows too, specially from the large debt repayments and also on account of imports due to the rising global commodities prices further eroded the reserve buffer, bringing the country closer by the day for vulnerability before its virtually ran out of the foreign currency by March 2022 causing the economy’s ultimate undoing.

The current reserves consist of roughly US$ 1,400 million worth Yuan denominated currency swap line from People’s Bank of China which was first offered back in March 2021 but was taken into the reserves from December 2021 onwards when the usable reserves ran thin.

Dr. Weerasinghe disclosed the latest reserve figures at a press conference held yesterday at its Atrium to apprise the public about the significance of sustainable economic stability.

Sri Lankan economy re-established stability when its foreign currency inflows were restored gradually from both remittances and tourism inflows amid resilient earnings from exports from both merchandise and services.

Stability was further reinforced when the global commodities prices cooled and the government suspended importation of a large number of items to preserve foreign currency and also by the bone crushingly tight monetary policy by the Central Bank which effectively crushed demand.

Now the Central Bank is easing the monetary policy to get the demand back up as demand conditions still remain subdued.

May 08, Colombo (LNW): India’s Amul Dairy Company has clinched the prestigious title of official sponsor for Sri Lanka’s World Cup men’s cricket team. However, this move has sparked controversy, with many individuals accusing the government of distancing itself from India and Sri Lankan cricket from its own roots.

It’s worth noting that despite these criticisms, Amul is not a private Indian enterprise nor directly controlled by the Indian government.

Amidst debates surrounding India’s involvement in Sri Lanka’s cricket affairs, Amul stands as a beacon of cooperative success. Owned by the Gujarat Co-operative Milk Marketing Federation Ltd. and the Government of Gujarat, Amul symbolizes the pinnacle of cooperative achievement.

For Sri Lanka, embracing such cooperative ventures presents an opportunity to foster a similar production culture within its own dairy industry. This could potentially provide vital support to local players aspiring to compete on the international stage.

Rather than viewing Amul’s sponsorship through a lens of political discourse or cricket criticism, it’s essential to explore the cooperative model it represents. By studying Amul’s business strategies, Sri Lanka can potentially cultivate a similar culture of cooperation within its own industries.

The agreement between Amul and Sri Lanka Cricket marks a pivotal moment for both nations. Sri Lanka Cricket Chief Executive Ashley De Silva hailed the partnership as a significant step, noting that Amul’s international branding will elevate Sri Lanka’s visibility in the global sports arena.

Jayen Mehta, Managing Director of Amul, expressed pride in the Sri Lankan team’s performance and reaffirmed Amul’s commitment to strengthening its ties with Sri Lankan Cricket. He emphasized Amul’s proven track record in dairy product development, hinting at a promising future for the partnership.

Amidst political tensions and economic challenges, the collaboration between Amul and Sri Lanka Cricket serves as a reminder of the unifying power of sports, transcending borders and fostering mutual growth and understanding.

May 08, Colombo (LNW): It is reported that Mujibur Rahman is going to be appointed to fill the vacant position of Samagi Jana Balawegaya due to the annulment of Diana Gamage’s position as a Member of Parliament by the Supreme Court today (08).

Today (May 08), the Sri Lankan Rupee has shown a slight appreciation against the US Dollar at commercial banks in Sri Lanka compared to Tuesday’s rates.

According to Seylan Bank:

• The buying rate of the US Dollar has increased from Rs. 290.75 to Rs. 292.50.
• The selling rate has also increased from Rs. 301.25 to Rs. 302.

At NDB Bank:

• The buying rate of the US Dollar has decreased from Rs. 292.50 to Rs. 291.75.
• The selling rate has also decreased from Rs. 303.50 to Rs. 302.75.

According to Peoples Bank:

• The buying rate of the US Dollar has dropped from Rs. 293.46 to Rs. 292.97.
• The selling rate has also dropped from Rs. 303.39 to Rs. 302.89.

At Commercial Bank:

• The buying rate of the US Dollar has decreased from Rs. 292.73 to Rs. 292.31.
• However, the selling rate has increased from Rs. 302 to Rs. 303.

Meanwhile, at Sampath Bank:

• The buying rate of the US Dollar has dropped from Rs. 295 to Rs. 293.50.
• The selling rate has also dropped from Rs. 304 to Rs. 302.50.

May 08, Colombo (LNW): Lieutenant General Vikum Liyanage, Commander of the Sri Lanka Army, has taken legal action by filing a case at the Colombo Chief Magistrate’s Court against an individual and two US-based companies for sharing defamatory videos about him on social media.

The case, initiated under the provisions of the Online Safety Act, was lodged at the court on Tuesday (May 07) by the Army Commander.

Thushara Saliya Ranawaka, a Sri Lankan residing abroad, and American multinational corporation Google, along with its online video-sharing platform YouTube, have been named as respondents in the case.

In his filing, the Army Commander has urged the court to summon the respondents and issue an injunction to halt the further dissemination of the defamatory videos across social media platforms.