By: Staff Writer

May 02, Colombo (LNW): The EU-funded project ‘Capacity Development for the Wellness Tourism Industry of Sri Lanka’ t aims to raise the quality standards of the wellness tourism and it will aid in better positioning Sri Lanka as the preferred destination for wellbeing.

As part of the European Union’s (EU) response to support the revitalisation of the Tourism Industry in Sri Lanka, two Train the Trainer workshops were held in March to prepare for the launch of new wellness tourism courses followed by a certification ceremony on 24 March.

Representatives from the Delegation of the European Union, Sri Lanka Tourism Development Authority, and the Sri Lanka Wellness Tourism Association were in attendance.

Following a national call for applications, over 50 people from hotels, resorts, Ayurveda centres, colleges and universities received a comprehensive training covering both theoretical and practical aspects on implementation of the new curriculum.

The trainers were given a hands-on training on how to coach and the mentor therapists and spa/wellness centre managers were thought key techniques, know-how and skills to upgrade and strengthen the efficiency and quality of their services.

Speaking at the event, Ms. Beatrice Bussi, Head of Cooperation, EU Delegation to Sri Lanka stated, “Wellness tourism is about responding to the growing wish that vacation is used to revitalise oneself. Sri Lanka offers a unique experience for wellness by combining rich biodiversity, healthy and tasty food, as well as spiritual practice rooted in cultural heritage.

The EU has set up this training programme to support Sri Lanka’s efforts to become part of the global wellness map”.

The project supported by the Sri Lanka Tourism Development Authority and the Sri Lanka Wellness Tourism Association is part of the broader EU support of 2,8 billion rupees extended to the tourism sector.

Moreover, recognising the importance of promoting Sri Lanka as tourist destination, the EU is launching a special campaign building on the work carried out through the 8 ongoing EU-funded projects to help revive the tourism sector.

The EU has provided around Euro 1 billion (approximately LKR 390 billion) of assistance to Sri Lanka so far, through a variety of bilateral, regional, and global programmes in different sectors. Financial support is based on the country’s policies and priorities, as well as EU strategic interests and values.

1. President Wickremesinghe addresses the UNP May Day rally in Colombo, urging unity to safeguard economic stability and support the IMF agreement: The rally, themed “A Proud Nation that will Never Fall Again,” drew a significant turnout, with cross-party support noted, including from SLPP MP Dr. Navanandana: outlines plans for economic revitalisation, emphasising job creation and youth empowerment: calls for bipartisan cooperation to advance these goals and ensure progress: highlights the UNP’s historical role and resilience, urging national unity for Sri Lanka’s prosperity and development.
   
2. At its May Day rally, the SJB unveils electoral commitments covering various areas such as constitutional reforms, agriculture, investment, employment, and education: Notably, SJB leader Sajith Premadasa pledges to address the Easter Sunday attacks, revoke liquor licenses, and uphold integrity among party members.
   
3. NPP leader Anura Kumara Dissanayake urges SJB to set a date for an economic policy debate before May 20 during what he described as the NPP’s ‘final May Day rally’ under ‘corrupt governance’: Despite ongoing dialogue, Dissanayake expresses frustration over SJB’s unavailability for the debate: The NPP’s rally advocated for worker rights and economic justice, emphasising fair wages, worker protections, economic equality, and solidarity among workers and social movements.
   
4. Finance Minister Shehan Semasinghe will attend the ADB’s annual meetings in Tbilisi, Georgia, from May 2 to 5: As a founding member, Sri Lanka has actively collaborated with the ADB to address developmental challenges and foster sustainable progress: The meetings provide an opportunity for networking and discussions on key developmental issues and regional cooperation strategies.
   
5. The government is considering removing the recently reintroduced Minimum Room Rate (MRR) for Colombo hotels within two months, pending an evaluation of its effectiveness: This aligns with Tourism Minister Harin Fernando’s statements, indicating a possible review: The MRR was reinstated in September 2023 after appeals from hoteliers: However, its reintroduction sparked debate, with support from the Hotels Association of Sri Lanka (THASL) but reservations from the Sri Lanka Association of Inbound Tour Operators (SLAITO): Fernando highlighted concerns about unfair practices by destination management companies: Despite interest from other regions like Kandy, he stressed the importance of market forces determining future prices based on the MRR’s foundation: Ongoing litigation against MRR raises the need for careful consideration before revoking it, with the government weighing various factors for informed decisions.
   
6. Sri Lanka’s exports surge to $1.139 bn in March, the highest since August 2022, with a 9.8% increase from last year: The textile and garment sector led the growth, reaching $444.9 mn, the highest since December 2022: Petroleum product exports also surge by 134.6%: Despite challenges like the rupee’s appreciation, exports continue to rise: However, imports increase by 4.0%, driven by fuel imports, leading to a trade deficit of $369 mn: Nevertheless, robust inflows from remittances, tourism, IT/BPO services, and freight services balanced the deficit, providing stability to the economy.
   
7. Renowned economic news agency ‘Economy Next’ reports negotiations for Sri Lanka’s debt restructuring are on hold pending clarity on how the IMF assesses securities linked to economic performance: adds an initial proposal from private investors involving macro-linked bonds was deemed inconsistent with the IMF’s framework: A new proposal submitted in April awaits assessment: While discussions have resumed, there’s a need for a better understanding of how the IMF’s framework applies to these bonds: This clarity could expedite negotiations and lead to a resolution.
   
8. Central Bank says Sri Lanka’s gross official reserves reached US$ 5 bn by March 2024, up from US$ 4.4 bn in 2023: The growth is attributed to substantial foreign exchange purchases and support from a swap facility with China: The trade deficit narrows to US$ 369 mn, driven by increased exports, particularly in industrial goods like petroleum products and textiles: However, imports also rose, especially for fuel and consumer goods: Despite challenges, earnings from tourism and remittances remained steady.
   
9. The Examinations Department aims to release the results of the 2023 GCE Advanced Level Examination by the final week of May: Over 346,000 candidates participated, including both school and private applicants.
   
10. Sri Lanka’s women cricket team clinches their third consecutive victory, defeating Uganda by 67 runs in the ICC Women’s World Cup Qualifying T20 match in Abu Dhabi: Opener Vishmi Gunaratne’s unbeaten 73 powered Sri Lanka to a challenging total of 154/4: In response, Uganda struggled, managing only 87 all out: Gunaratne was named Player of the Match: Sri Lanka will face the USA next.

May 02, Colombo (LNW): Sri Lanka’s gross official reserves (GOR) surged to US$ 5 billion by the end of March 2024, marking a substantial increase from USD 4.4 billion at the close of 2023, the Central Bank of Sri Lanka (CBSL) said.

The CBSL, in its report on External Sector Performance for March, attributed this growth in GOR to significant net purchases of foreign exchange from the domestic market, amounting to US$ 715 million in March alone and totaling US$ 1.2 billion in the first quarter of 2024.

Import coverage of GOR, bolstered by a swap facility from the People’s Bank of China worth around US$ 1.5 billion, has remained above 3 months of imports since December 2023.

Furthermore, the trade deficit narrowed to US$ 369 million in March 2024 from US$ 412 million a year earlier, driven by a notable increase in exports outpacing import growth.

However, this deficit widened compared to February 2024 (US$ 319 million).

Merchandise export earnings rose by 9.8 per cent year-on-year to US$ 1,139 million in March 2024, with notable increases observed across major export categories, particularly industrial exports.

Industrial goods exports saw a significant boost, primarily driven by petroleum products due to increased bunkering and aviation fuel exports.

Textiles and garments exports also showed notable improvement during this period.

Meanwhile, expenditure on merchandise imports increased by 4.0 per cent to US$ 1,508 million in March 2024 compared to the same period last year.

Expenditure across major import categories rose, with intermediate goods, particularly fuel imports, registering the highest increase.

Consumer goods imports rose due to increased expenditure on food and beverages, despite a decline in non-food consumer goods imports, mainly attributed to lower medical and pharmaceutical imports.

Investment goods imports saw a broad-based increase, propelled by higher imports of building materials and machinery and equipment.

March 2024 imports also surged compared to February 2024, primarily due to normalised fuel expenditure.

Regarding the tourism sector, earnings in March 2024 were estimated at US$ 338 million, while workers’ remittances amounted to US$ 572 million, indicating steady performance compared to previous months and the same period last year.

May 02, Colombo (LNW): Finance Minister Shehan Semasinghe is set to represent Sri Lanka at the Asian Development Bank (ADB) annual meetings, scheduled to take place from the May 02 to 05 in Tbilisi, Georgia.

As a founding member of the ADB, Sri Lanka has actively contributed to fostering partnerships aimed at effectively addressing the country’s developmental challenges.

The collaboration between Sri Lanka and the ADB has played a crucial role in driving sustainable progress and growth across various sectors of the economy.

The annual meetings serve as a valuable forum for networking with other member countries and stakeholders, facilitating discussions on key developmental issues and strategies for regional cooperation.

May 02, Colombo (LNW): The release of the results for the 2023 GCE Advanced Level Examination may be possible by the final week of May, The Department of Examination anticipated.

The results are expected to be disseminated within this month, according to sources.

A significant number of candidates, totaling 346,976, participated in the 2023 GCE Advanced Level Examinations, which were conducted in January.

Among these candidates, 281,445 were school applicants, while 65,531 were private applicants.

May 02, Colombo (LNW): President Ranil Wickremesinghe delivered a address at the United National Party (UNP) May Day rally in Colombo yesterday, urging political parties to unite in safeguarding the country’s economic stability and supporting the agreement with the International Monetary Fund (IMF).

Wickremesinghe emphasised the importance of collaboration and continuity in economic policies to prevent regression and ensure sustained progress for Sri Lanka.

Under the theme “A Proud Nation that will Never Fall Again,” the UNP rally attracted a significant turnout of party members from across the island, underscoring the party’s commitment to national development and prosperity.

Notable among the attendees was Monaragala District Member of Parliament representing the Sri Lanka Podujana Peramuna (SLPP), Dr. Gayashan Navanandana, who expressed support for the UNP’s initiatives.

In his address, President Wickremesinghe reaffirmed the UNP’s pivotal role in revitalising the economy and overcoming challenges faced by the nation.

He highlighted the democratic and economic resurgence witnessed in Sri Lanka, citing the symbolic return of the opposition leader to Galle Face for the May Day rally, a testament to the country’s vibrant democracy.

President Wickremesinghe outlined a comprehensive plan to foster a robust export economy, emphasising the importance of creating employment opportunities and securing a brighter future for the nation’s youth.

He called for unity and collaboration across party lines to advance these initiatives and safeguard economic stability.

Acknowledging past challenges and achievements, President Wickremesinghe underscored the significance of the UNP’s role in steering the country through difficult times and driving progress.

He urged political parties to prioritise the well-being of the nation and support measures aimed at economic transformation and development.

Reflecting on historical milestones and challenges faced by the UNP, Wickremesinghe emphasised the party’s resilience and determination to lead Sri Lanka towards prosperity.

He called upon the entire country to rally behind efforts to propel the nation forward while upholding its economic stability and advancing its development agenda.