April 20, Colombo (LNW): Coca-Cola has appointed Kaushali Kusumapala as the new Country Director for Sri Lanka and Maldives, marking a significant milestone as the first woman from Sri Lanka to assume this role.
Effective April 1st, 2024, Kusumapala succeeds Pankaj Sinha, who previously led the region in 2019.
In her new capacity, Kusumapala aims to cultivate close partnerships with various stakeholders across Sri Lanka and Maldives, including bottling partners, customers, industry peers, consumers, and external collaborators.
With a career spanning back to 2009, Kusumapala brings a wealth of experience to her new role, having amassed diverse expertise through her tenure with esteemed organizations such as Leo Burnett, Fonterra Dairy, and Domino’s Pizza.
Expressing her excitement for the appointment, Kusumapala underscores her commitment to collaborating with Coca-Cola’s bottling partners, Coca-Cola Beverages Sri Lanka, and Male’ Aerated Water Company, along with other key stakeholders.
Kusumapala holds a Bachelor of Commerce degree from the University of Melbourne, reflecting her strong academic background.
Coca-Cola boasts a longstanding presence in Sri Lanka, dating back to 1961. The company directly employs over 400 individuals and maintains an extensive network comprising over 80,000 shops in the region.
April 20, Colombo (LNW): Highly anticipated super-luxury ITC Ratnadipa Colombo hotel is poised to open its doors on next Thursday (25 April) under the patronage of President Ranil Wickremesinghe.The landmark hotel is their first project outside India for ITC.
The ITC Ratnadeepa Hotel project is a noteworthy venture as it signifies the maiden development in Sri Lanka by WelcomHotels Lanka Ltd., a wholly owned subsidiary of the prestigious ITC Ltd.
The introduction of this super-luxury hotel promises a new level of opulence and service excellence in Colombo, catering to discerning travellers seeking an indulgent and world-class experience.
ITC Hotels was first launched in 1975, and has since grown to become one of India’s premier luxury hospitality chains with more than 115 properties in over 80 locations across the country.
The company is also championing the cause of sustainable luxury in the industry, and according to ITC Ratnadipa general manager Sujeet Kumar, this makes ITC the greenest and largest luxury hospitality chain in the world.
ITC Ratnadipa is the first ITC hotel to be established outside of India. Located in the heart of the business district of Colombo, Sri Lanka, with an unobstructed view of the Indian Ocean beyond the Galle Face Green promenade, Ratnadipa dominates the city’s skyline.
Kumar explained that this property will bring about transformational change and a more sustainable future for hospitality. In addition to creating many job opportunities in the country, the establishment of ITC Ratnadipa is envisioned to strengthen the positive ties between the two countries as well. The property will be under the Marriott Luxury Collection portfolio.
The hotel comprises 352 rooms with large private balconies in all of them. According to Kumar, this property will have the largest room size amongst Colombo’s city hotels. Ahasa – Ratnadipa’s key architecture differentiator, is the bridge suspended between Sapphire Residences and the hotel tower, 100 meters (330 ft) above the ground and 15 meters (50 ft) in length, with two sky pools above, and the bar below.
This will be a novelty in Colombo. The banqueting venue – Sangam, is a 15,000 sq.ft. Pillarless ballroom with floor to ceiling windows, allowing in loads of natural light and spectacular views of the surroundings.
ITC Hotels is one of the most popular brands in India. Given that India is one of the leading source markets for Sri Lanka, the management is confident of hosting destination weddings and several MICE conventions, through which ITC Ratnadipa can be established as the leading hotel for both MICE and exclusive weddings in addition to serving high-end luxury business travelers.
April 20, Colombo (LNW): Port City Colombo officials expressed concern over delays in opening Sri Lanka’s first-ever downtown duty-free shopping complex’s set to be opened in April this year due to some legal issues..
Originally scheduled to commence operations in April, the facility now faces an uncertain timeline for opening to the public, primarily due to unexpected legislative hurdles.
While concerns have been raised regarding the potential impact of the duty-free mall on local businesses and Sri Lanka’s taxation framework, CHEC Port City Colombo Deputy Managing Director Thulchi Aluwihare has asserted that the facility will not have the negative effects perceived by some in the political and business communities.
“The aim is not to cannibalise but to expand the market and promote economic growth. The broader objective of Port City is to increase footfall and benefit the entire Colombo ecosystem,” Aluwihare said .
He stressed that adequate measures are in place, serving as effective guardrails to protect against cannibalisation of the local market and ensure there is no leakage of goods into the local market.
“The goal is to attract tourists and create a shopping destination in Sri Lanka, capitalising on the average tourist’s stay of seven to 10 days, with an average spending day in Colombo being just one day,” added Aluwihare.
Pointing out that the delays are sending a negative message to investors, existing and potential, he stressed it is imperative for authorities to understand the importance of having investor-friendly processes.
“As a country facing a balance of payment crisis, we are actively seeking foreign direct investment and capital. Therefore, it is essential to ensure that the experience for investors in Sri Lanka is positive and encourages further investment,” added Aluwihare
The partnership was underscored with the formalisation of two critical agreements: an Authorised Person Agreement between ODF and the Commission and a lease agreement between ODF and CHEC Port City Colombo Ltd (CPCC).
However the Department of Fiscal Policy (DoFP) has to evaluate and guide the design of all tax incentives, including those based on the Strategic Development Project Act and the Port City Act, finance ministry sources said.
Preparing the necessary structures, including data sharing protocols and legal documents that assign authority to the DoFP will take time, it claimed. .
There was to be a 5,000 US dollar allowance for returning Sri Lankans and any amount for foreigners, according to concessions gazetted on May 29 2023. .
The Colombo Port City Economic Commission Act No 11 of 2021 was given the authority to grant tax incentives within the Chinese-built Colombo Port City.
President Ranil Wickremesinghe has highlighted that the tourism hotel project with India’s Taj Samudra Hotel in Nuwara Eliya had been lost due to protests. Clarifying the government’s decision, the President explained that plans were only made to set up hotels in the lands surrounding the Post Office building to improve tourism in the area.
Sri Lanka has participated in the Global Sovereign Debt Roundtable (GSDR) in Washington DC, which brings together debtor countries and creditors, in a bid to build a greater common understanding among key stakeholders on debt sustainability, debt restructuring challenges and ways to address them.
Samagi Jana Balawegaya (SJB) says that if the United National Party (UNP) supports Opposition Leader Sajith Premadasa in the upcoming presidential election, consideration may be given to offering a position to current President Ranil Wickremesinghe.
State Minister of Finance Shehan Semasinghe says that the government is confident of reaching resolution with commercial creditors and the private bondholders which will enable Sri Lanka to be a debt sustainable country, as the engagements with them are underway.
The Transparency International Sri Lanka (TISL) has filed a fundamental rights (FR) petition before the Supreme Court seeking an order that the fundamental rights have been violated through the purchase of certain types of drugs including Human Immunoglobulin vials, without following the proper procurement process.
Coca-Cola has named Kaushali Kusumapala as the new Country Director for Sri Lanka and Maldives, marking a historic moment as the first woman from Sri Lanka to hold this position.
The distribution of fortified rice, supplied by the World Food Program (WFP) on behalf of the program initiated under the instructions of President Ranil Wickremesinghe, to provide a nutritious meal for schoolchildren, commenced at the Veyangoda warehouse complex.
Three suspects involved in transferring fraudulent funds through EZ Cash have been apprehended by the Police.
Livestock Development State Minister D. B. Herath said that the country has reached a point of self sufficiency in egg and poultry meat production. As a result, they are now contemplating the possibility of exporting eggs in the coming years.
Sri Lanka’s women’s cricket team skipper, Chamari Athapaththu has hinted at her possible retirement from the sport of cricket. Speaking to the media in South Africa, Athapaththu revealed she believes her retirement is ‘very soon’.
April 20, Colombo (LNW): The Russian Embassy in Colombo issued a statement refuting claims of Sri Lankan nationals participating in the Ukrainian conflict on the Russian side, dismissing any knowledge of their involvement or the numbers potentially involved.
Responding to a lead story published in the Daily News on Friday (19) regarding the alleged recruitment of Sri Lankan mercenaries for the Russian Army, the Embassy clarified that they lack information on such participation. They emphasized that the safeguarding of Sri Lankan citizens’ interests and rights in Russia falls under the jurisdiction of the Sri Lankan Embassy in Moscow.
The statement reiterated that visas are issued to Sri Lankans based on valid travel documents, unrelated to military activities. The Embassy emphasized their lack of knowledge regarding Sri Lankan involvement in the Ukrainian conflict or any local recruitment agencies facilitating such actions.
Additionally, the Embassy denied any association with the return of a corporal purportedly fleeing from the combat zone, as mentioned in the Daily News article titled “Popular tele actresses found recruiting mercenaries” by Gayan Kumara Weerasinghe.
While emphasizing that the Russian Embassy in Colombo oversees the protection of Russian citizens in Sri Lanka, they noted that matters concerning foreigners in Russia are the responsibility of relevant diplomatic representations in Moscow.
However, the Embassy underscored their efforts to prevent individuals with military intentions from entering Russia, conducting additional interviews to assess travelers’ intentions. They acknowledged the possibility of travelers altering their plans once in Russia but reiterated their commitment to upholding visa regulations.
In conclusion, the Embassy reiterated its focus on protecting Russian citizens in Sri Lanka while emphasizing the distinct responsibilities of diplomatic representations in Moscow regarding foreign nationals in Russia.
April 20, Colombo (LNW): The distribution of fortified rice, part of a school meal initiative spearheaded by President Ranil Wickremesinghe, kicked off at the Veyangoda warehouse complex under the auspices of the World Food Programme (WFP).
To combat iron deficiency among school children, fortified rice is being provided as a nutritious component of school meals. Oversight for this distribution falls under the purview of M.H.A.M. Riflan, Director General of the Partnership Secretariat for World Food Programme Co-operation (PSWFPC), operating within the Presidential Secretariat.
In its initial phase, 735 metric tons of rice are earmarked for distribution to provincial-level schools, beginning on the 19th and continuing on the 20th. This process is being closely monitored by officials from Provincial Departments of Education and Public Health Inspectors (PHIs).
Director General Riflan disclosed plans for further distributions, including 378.835 metric tons of dhal, 412.08 metric tons of sunflower cooking oil, and 300 metric tons of dates, to commence with the start of the new school term on May 19.
The Education Ministry has devised a comprehensive strategy to ensure all students in grades 1-5 receive a nutritious main meal at school. Students are provided breakfast between 7.30 and 8.30 a.m. daily, following recommendations from nutritionists.
Under the banner of ‘Healthy Active Generation,’ the 2024 school meal programme aims to address nutritional concerns, enhance school attendance, promote healthy eating habits, elevate educational achievements, and celebrate local food culture.
This year, the school feeding programme benefits 1.6 million students, encompassing primary students from 9,134 government schools, as well as smaller schools with fewer than 100 students. The government has allocated Rs.16.6 billion to provincial councils for this purpose, supplemented by support from entities such as the World Food Programme (WFP) and the United States Department of Agriculture (USDA).
April 20, Colombo (LNW): D. B. Herath, the Livestock Development State Minister, announced that Sri Lanka has achieved self-sufficiency in egg and poultry meat production, signaling a potential for egg exports in the near future.
Following the COVID-19 crisis, which severely impacted the local poultry industry, Herath explained that the country faced shortages in chicken and eggs, prompting the intervention of the Trade Ministry to facilitate egg imports. However, with collaborative efforts from the Agriculture Ministry, including the provision of duty relief on imported animal feed and guidance for farmers, the poultry sector has rebounded significantly, eliminating the need for egg imports.
Speaking to the media after an event at the Kundasale Agricultural College, where certificates were awarded to 700 Agriculture Diploma Holders, Herath highlighted the industry’s progress and expressed plans to expand exports. He noted that while chicken exports to Middle Eastern countries are ongoing, similar strategies will be explored to enter the egg export market
April 20, Colombo (LNW): Health authorities in Sri Lanka have issued a warning regarding a surge in diarrhoea cases among children following the New Year period, alongside a rapid spread of viral flu and influenza. Lady Ridgeway Hospital’s Consultant Paediatrician, Dr. Deepal Perera, urged parents to promptly seek medical attention if their children experience persistent fever for 3 to 4 days.
Dr. Perera emphasized that the viral flu and influenza are particularly prevalent among young children, with symptoms including cough, phlegm, vomiting, and diarrhoea. He noted that while some individuals exhibited flu-like symptoms, not all tested positive for influenza, indicating variations in the underlying conditions.
April 20, Colombo (LNW): Showers or thundershowers will occur at a few places in Western, Sabaragamuwa, North-western, Uva and Central provinces and in Anuradhapura, Vavuniya, Mannar, Galle and Matara districts after 2.00 p.m.
Misty conditions can be expected at some places in Sabaragamuwa and Central provinces and in Kalutara, Galle and Matara districts during the morning.
General public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.
April 19, Colombo (LNW): Sri Lanka Manufacturing sector recorded the highest values recorded for March 2024 in three years, the latest data by the Central Bank shows.
Manufacturing recorded a Purchasing Managers’ index value of 62.5 in March, compared to 56 in February this year, it added. .
The Central Bank said all sub-indices expanded and this was mainly due to the seasonal demand and the industry expectations for the next three months remain positive.
Meanwhile, the Sri Lanka Purchasing Managers’ Index for Services (PMI – Services) also expanded in March 2024, CBSL said.
PMI – Services Business Activity Index recorded an index value of 67.7 in March, this was 53 in February 2024.
Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 62.5 in March 2024, indicating an expansion in manufacturing activities.
This marks the highest PMI-Manufacturing that was recorded in three years. All the sub-indices expanded on a month-on-month basis contributing to this increase, mainly driven by the seasonal demand.
The increase in New Orders and Production was mainly attributable to the manufacture of food & beverages and textiles & apparel sectors.
Most of the manufacturers, especially in the food & beverage sector, were optimistic about the upcoming festive season.
Moreover, Employment and Stock of Purchases increased during the month in line with the New Orders and Production. Further, a decline in price levels was also evident.
Meanwhile, Suppliers’ Delivery Time remained lengthened, yet at a slower rate in March. The industry expectations for the next three months remain positive.
However, most of them expect a natural decrease in production during April following the end of the seasonal peak.
Sri Lanka Purchasing Managers’ Index for Services (PMI – Services) indicated a further expansion in service activities in March 2024 as reflected by the Business Activity Index, which recorded an index value of 67.7.
The continued expansion in Business Activities was driven by the improvements observed across most of the sub-sectors.
Accordingly, the wholesale and retail trade sub-sector experienced a significant uptick attributed to increased sales ahead of the festive season.
Further, business activities in the financial services subsector continued to grow supported by the accommodative monetary policy stance.
Meanwhile, the accommodation, food and beverage sub-sector continued to grow driven by high tourist arrivals, while transportation, other personal activities and professional services sub-sectors also recorded positive developments during the month.
New Businesses increased in March, particularly with the increases observed in wholesale and retail trade, financial services, insurance, transportation and professional services sub-sectors.
Employment increased due to new recruitments made by several companies in view of the festive season. Meanwhile, Backlogs of Work continued to decline, yet at a slower rate, during March.
Expectations for Business Activities for the next three months continued to rise supported by favourable macroeconomic conditions.
