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BOC Provides Financial Support to Three Colombo Hospitals to mark its 85th Anniversary

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September 20, Colombo (LNW):In a gesture of community support, the Bank of Ceylon (BOC) has extended financial assistance to three major hospitals in Colombo to commemorate its 85th anniversary, the bank has donated Rs. 2.2 million to the Lady Ridgeway Hospital for Children, Castle Street Hospital for Women, and De Soysa Maternity Hospital. 

The funds will be used to purchase essential medical instruments, enhancing the healthcare services provided by these institutions.

The cheque handover ceremony was held with the presence of key BOC officials, including Chairman Kavan Ratnayaka and General Manager W.P. Russel Fonseka. Also in attendance were the Deputy General Manager of Branch Credit Operation Range 01, the Assistant General Manager of Branch Credit Range 01 R M M Weerasekara, and other distinguished guests, including representatives from the three hospitals. Several staff members from the bank also participated in the event.

Speaking at the ceremony, Kavan Ratnayaka highlighted the bank’s ongoing commitment to the welfare of the community. “As we mark 85 years of service to Sri Lanka, it is a privilege to contribute to the healthcare sector, which plays a vital role in the lives of our citizens. This donation reflects our dedication to social responsibility and our commitment to supporting the health and well-being of our nation,” 

The Lady Ridgeway Hospital for Children, Castle Street Hospital for Women, and De Soysa Maternity Hospital are among the most critical healthcare providers in Sri Lanka, offering essential services to women and children. The financial support from BOC will help ensure that these hospitals can continue to deliver high-quality care.

Established in 1939, the Bank of Ceylon is Sri Lanka’s leading commercial bank, recognised for its financial innovation and commitment to customer service. With a legacy of contributing to the nation’s economic growth, the bank continues to play an important role in supporting the needs of its customers and the community.

Photo Caption – 

BOC Chairman Mr. Kavan Ratnayaka, General Manager W.P. Russel Fonseka, along with the BOC corporate and executive management and the Director of Lady Ridgeway Hospital, Dr. G Wijesuriya,at the cheque handover ceremony.

Sri Lanka’s Presidential Election amid Economic Recovery and Geopolitical Tensions

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September 20, Colombo (LNW): Sri Lankans are preparing for their first election since the country defaulted on its sovereign debt in 2022, plunging it into its worst economic crisis since gaining independence. 

Election Commissioner General Saman Sri Ratnayake announced that over 150,000 government officials and nearly 1,000 staff have been deployed to ensure smooth operations across 13,421 polling centers.

 Special security measures and traffic plans have been implemented for the voting process, which will take place from 7 AM to 4 PM. approximately 17 million voters will choose from 38 candidates in this pivotal election.

In addition to domestic challenges, Sri Lanka has become a strategic focus for global powers, particularly China, India, and the United States. 

The expansion of Colombo’s main port, backed by $553 million in U.S. funding and led by India’s Adani Group, reflects Washington’s efforts to counter China’s growing influence in the region. 

This project, known as the Colombo West International Terminal, aims to strengthen Sri Lanka’s role as a major shipping hub in South Asia and reduce its reliance on Chinese infrastructure investments.

China has invested heavily in Sri Lanka as part of its Belt and Road Initiative, providing over $11 billion in grants and loans for infrastructure between 2006 and 2022.

However, China’s financial involvement has drawn criticism, with some blaming these loans for contributing to Sri Lanka’s financial collapse. Conversely, the U.S. is positioning itself as a more transparent and responsible lender, focusing on sustainable development.

Sri Lanka’s economic troubles began with government mismanagement, high foreign debt, and the effects of the pandemic on key sectors like tourism. 

The International Monetary Fund (IMF) provided a $3 billion bailout to stabilize the economy. President Ranil Wickremesinghe, who negotiated the IMF deal, is facing significant opposition from other candidates, including Sajith Premadasa and Anura Kumara Dissanayake. 

While Wickremesinghe’s policies have been unpopular, especially tax hikes and utility bill increases, they are seen as necessary to secure the bailout and initiate recovery.

Signs of economic recovery are emerging, with improvements in the tourism and agriculture sectors. The Sri Lankan rupee rose by 10% in the past year, and the economy has returned to steady growth. 

The country’s strategic location in the Indian Ocean has also fueled a boom in maritime shipping, further solidifying its role in global trade.

The U.S.-backed expansion of Colombo’s port is expected to increase its container capacity by 40%, making it an even more critical player in transshipping. 

This project, unlike China’s Hambantota Port, is viewed as lower-risk and strategically important, especially given Sri Lanka’s location on key international shipping routes. 

As Sri Lanka tries to recover from its economic crisis, global powers continue to vie for influence, making this election not only crucial for the country but also for the broader region.

Decision on Re-Conducting Grade 5 Scholarship Exam to Follow CID and Examinations Department Investigations

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September 20, Colombo (LNW): The Education Ministry has announced that a decision on whether to re-conduct the Grade 5 Scholarship Examination will be made after the Criminal Investigation Department (CID) and the Examinations Department conclude their investigations into the alleged leak of exam questions.

The Secretary to the Ministry of Education stated that the decision will depend on the findings and recommendations of these investigations. This response follows complaints from parents claiming that multiple exam questions were leaked prior to the examination, prompting calls for a fresh exam.

Basil Rajapaksa Departs for Dubai Ahead of Presidential Election

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September 20, Colombo (LNW): Former Minister Basil Rajapaksa, founder of the Sri Lanka Podujana Peramuna (SLPP), reportedly left the country early this morning (20th), a day before the presidential election. According to sources, Rajapaksa boarded Emirates Airline flight EK 659, which departed from Katunayake Bandaranaike International Airport at 3:05 am, heading to Dubai, from where he is expected to continue his journey to the United States.

Rajapaksa used the Gold Route Special Entry of the airline and was traveling alone. Reports indicate that former State Minister DV Chanaka, along with MPs Sanjeeva Edhirimanna and Jayanatha Katagoda, also accompanied him to the airport to his departure.

Basil Rajapaksa has been a key figure in the election campaign of Namal Rajapaksa, the SLPP candidate in this year’s presidential election.

Nine Officials Banned from Election Duties in Hambantota for Political Involvement

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September 20, Colombo (LNW): Nine government officials in the Hambantota district have been barred from participating in election duties due to allegations of promoting political parties. The banned individuals include teachers, principals, and public health inspectors, according to Hambantota District Election Officer MP Sumanasekara.

Sumanasekara revealed that further complaints have been lodged against ten other government officials, and the Election Commission has been notified for further action.

The Election Commission reiterated the importance of neutrality among government officials engaged in election-related duties. In a statement, it emphasized that public officials must maintain respectful and professional relationships with voters, candidates, and their authorized representatives.

The Commission instructed all officials to act courteously and efficiently, ensuring a smooth and respectful voting process. It highlighted the need for officials to perform their duties with utmost diligence to allow voters to exercise their right to vote freely and fairly.

Ballot Box Transportation and Security Measures in Place for 2024 Presidential Election

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September 20, Colombo (LNW): The transportation of ballot boxes and officials to polling stations for the 2024 Presidential Election began this morning, according to Election Commissioner General Saman Sri Ratnayake. Over 150,000 government officials have been deployed to staff 13,421 polling stations nationwide.

To streamline the distribution, 1,234 issuing centers have been set up. Additionally, nearly 1,000 officials, including chief counting officers, have been dispatched to remote provinces from districts such as Colombo to ensure smooth election operations.

Police Media Spokesperson DIG & Attorney-at-Law Nihal Talduwa stated that special security measures have been implemented for the safe transportation of ballot boxes and officials. A special traffic plan has also been put in place around polling stations to maintain safety and order.

The 2024 Presidential Election will be held tomorrow from 7 am to 4 pm, with 17,140,354 eligible voters casting their ballots to choose from among 38 candidates.

Sri Lanka Original Narrative Summary: 20/09

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  1. The National Security Council of Sri Lanka has met and discussed ensuring security for the 2024 presidential election and maintaining law and order during the post-election period. They discussed ensuring security for the 2024 presidential election, supporting the Election Commission, securing candidates and polling stations and maintaining law and order post-election without disrupting daily life.
  2. Sri Lanka Police has informed the voters regarding the items that are not permitted at polling stations when they visit to cast their votes. Police Media Spokesman DIG Nihal Talduwa explained the responsibility of voters when they go to cast their votes. He stated that they have observed some individuals consume alcohol from the morning and then struggle to enter the polling station where they are unable to make a proper decision.
  3. Election Commission (EC) Chairman R. M. A. L. Rathnayake said that they hope to conclude the official releasing and announcing of the 2024 Presidential Election results declaring the winning candidate by September 22.
  4. Sri Lanka said it’s reached an agreement in principle with bondholders to restructure its $114 billion debt load, just days before the country heads for presidential elections. The parties agreed to introduce “governance-linked bond features” as part of the revised bond treatment, it said, referring to clauses that would cut Sri Lanka’s repayments if it meets certain governance and anti-corruption-related targets.
  5. Sri Lanka’s National Anti-Human Trafficking Task Force (NAHTTF) has issued a serious warning about a rising trend in forced criminality linked to cyber scam centers in Myanmar. Human traffickers are actively targeting young IT professionals through fraudulent job offers abroad, it said issuing a statement.
  6. The Ministry of Education (MoE) has issued a special statement regarding the controversy over the incident of the Grade 5 Scholarship examination paper allegedly being leaked. The communiqué stated that the Department of Examinations and the Criminal Investigation Department (CID) are conducting an investigation regarding the issue with the first paper of the 2024 Grade 5 Scholarship Examination.
  7. The Colombo High Court has issued an order preventing the use of two luxury apartments located in the Colpetty area which had been purchased by Ramith Rambukwella, the son of former Health Minister Keheliya Rambukwella. The two luxury apartments had allegedly been purchased for Rs. 80 million and Rs. 65 million.
  8. The Sri Lanka Transport Board (SLTB) has announced the allocation of 1,360 buses for election duties in connection with this year’s presidential election. Deputy General Manager Panduka Swarnahansa confirmed that these buses will be provided based on requests from district election offices.
  9. the Disaster Management Centre (DMC) and the Election Commission have planned to implement a special joint program to address any disruptions to the presidential election that could be cause by natural disasters. Accordingly, the Director of the Disaster Management Centre, Pradeep Kodippili mentioned that the program is planned to be implemented from 19th until September 22.
  10. Cricket Australia (CA) has banned former Sri Lankan Test player Dulip Samaraweera for 20 years after he “committed a serious breach” of the organisation’s code of conduct. Samaraweera is banned from holding any position within CA or a state or territory association, including any WBBL or BBL teams.

Showers expected in several districts

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September 20, Colombo (LNW): IShowers will occur at times in Sabaragamuwa province and in Kalutara, Galle and Matara districts.

Several spells of showers will occur in North-western province and in Colombo, Gampaha, Kandy and Nuwara-Eliya districts.

Showers or thundershowers may occur at a few places in Eastern and Uva provinces during the evening or night.

Strong winds about (40-45)kmph can be expected at times over the western slopes of the central hills and in North-central and Southern provinces.

Who will finally win? Ranil, Sajith or Anura ?

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By: Adolf

September 19, Colombo (LNW): Several surveys have been floating around. The methodology can be challenged. The potential winner of the next Presidential election in Sri Lanka would depend on several factors, including the performance of the current administration, the state of the economy, and how effectively opposition parties present alternative solutions. Key considerations include:

1. Economic Performance: Given Sri Lanka’s severe economic crisis, a candidate who offers a clear plan for sustainable economic recovery, debt restructuring, and growth strategies will have an advantage. Voters will likely prioritize economic stability and job creation.

2. Public Sentiment on Governance: The performance of the current government under President Ranil Wickremesinghe, particularly in terms of addressing inflation, stabilizing foreign exchange reserves, and securing foreign investment, will significantly influence voter preferences. If the government can show tangible improvements in these areas, Wickremesinghe or a candidate from his camp could maintain an edge.

3. Youth and Urban Voters; Many young voters were pivotal in the recent political shifts, especially during the protests that led to former President Gotabaya Rajapaksa’s resignation. Candidates who can appeal to this demographic, with promises of modern governance, transparency, and anti-corruption measures, may win critical support.

4. Role of Regional Politics; Tamil and Muslim minority communities will also be influential in determining the outcome. A candidate able to foster inclusivity and address long-standing issues of minority rights and development may strengthen their chances.

If the current administration under Wickremesinghe has effectively demonstrated a robust recovery path, they may retain an advantage, but public sentiment around economic hardship, governance issues, and regional disparities will play decisive roles in shaping the outcome. Sri Lankans however needs to vote wisely.

Inovartic Investment Embarks on Graphene Manufacturing Initiative between Sri Lanka and Abu Dhabi

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By: Staff Writer

September 19, Colombo (LNW): Inovartic Investment Lanka Pvt Limited, a collaboration between Sri Lanka’s Apex Asia Holdings and UAE’s Inovartic Investment LLC, has launched a project to advance graphene manufacturing and graphene-based products in Sri Lanka and Abu Dhabi.

This joint venture, established with the backing of Abu Dhabi University (ADU), aims to drive innovation in key technology sectors. Partnering with the Sri Lanka Institute of Nanotechnology (SLINTEC), the initiative will leverage the expertise of both Inovartic Investment Lanka and ADU to promote graphene technology development in both regions.

Daham Arangalla, Founder and Director of Inovartic Investment Lanka Pvt Ltd and Regional Partner of Inovartic Investment LLC, emphasized the importance of this venture, stating that the consortium would create an ecosystem to promote technological advancements, enhance global synergies, and elevate Sri Lanka’s economic status.

Arangalla also highlighted the consortium’s role in fostering advancements in research, training, and knowledge-sharing, positioning Sri Lanka at the forefront of regional technological innovation.

Saif Aldarmaki, Chairman and Co-Founder of Inovartic Investment Lanka Pvt Ltd, described the joint venture as a key player in the future of advanced material manufacturing, creating new opportunities for innovation and economic growth for both Sri Lanka and Abu Dhabi.

The partnership aligns with Abu Dhabi’s vision to become a global hub for cutting-edge industries, focusing on the development of graphene, a vital material for sectors like electronics, healthcare, semiconductors, biotechnology, transportation, and environmental conservation.

Shawn Gajasinghe, Chairman of Apex Asia Pvt Ltd and Co-Founder of Inovartic Investment Lanka Pvt Ltd, also expressed confidence in the consortium’s ability to make significant strides in research and technological innovation.

In support of sustainable development, the venture has secured local vein graphite in Sri Lanka and plans to set up pre-processing facilities to produce graphene for export. This effort not only enhances local resources but also demonstrates the joint venture’s commitment to economic growth and technological progress.

Inovartic Investment Lanka is supported by the Abu Dhabi Department of Economic Development and the Abu Dhabi Investment Office (ADIO), both of which are instrumental in advancing research and development in graphene technology across the UAE and Sri Lanka.