August 22, Colombo (LNW): The Cabinet has approved the implementation of tourist service counters at Bandaranaike International Airport’s vacant lobby near the entrance terminal.
Airport and Aviation Services (Sri Lanka) (Private) Ltd. had called for bids to operate six counters, attracting twelve proposals.
Following evaluations by the Technical Appraisal and Standing Procurement Committees, the Cabinet endorsed the selection of six bidders offering the highest and most suitable bids.
These companies will now be permitted to operate in the designated areas for a three-year term.
The successful bidders are as follows:
Airport Tourist Drivers Association
Ayubowan Tours and Travels (Pvt) Ltd
Avawia Tours (Pvt) Ltd
Lanka Travel Agent Association
Casons Travels (Pvt) Ltd
JNW Lanka Tours
This initiative is expected to enhance visitor services and streamline tourist facilitation at the airport, catering to the growing influx of international travellers.
The decision aligns with the government’s ongoing efforts to improve infrastructure and promote tourism as a key driver of economic growth.
August 22, Colombo (LNW): The Cabinet has granted approval for a proposal to provide fertiliser subsidies to farmers cultivating paddy during the 2024/25 Maha season.
This initiative aims to boost food security and enhance agricultural productivity by supporting paddy and other crop cultivation across the country.
The approved plan, presented by the Minister of Agriculture and Plantation Industries, involves importing fertilisers through both the State Fertiliser Company Ltd. and private sector entities.
The fertilisers will then be sold at a competitive price, ensuring wider accessibility for farmers.
Under the subsidy scheme, farmers will receive financial support of Rs. 15,000 per hectare, with a maximum of two hectares covered for each farmer.
This effort aligns with the government’s broader objective to stabilise local food production and improve the livelihoods of smallholder farmers.
August 22, Colombo (LNW): SriLankan Airlines has received Cabinet approval to renew contracts for passenger and mobile lift platform services at key airports in Saudi Arabia and China.
The existing contracts, covering services at the Dammam, Jeddah, and Riyadh airports in Saudi Arabia and Guangzhou Airport in China, are set to expire by the end of January 2025.
In preparation for the expiration, the government initiated a limited international bidding process to select qualified service providers.
Following a thorough evaluation by the Technical Appraisal Committee and the Standing Procurement Committee, the Cabinet has approved the proposal by the Minister of Ports, Shipping, and Aviation to award three-year service contracts to the successful bidders.
Swissport Saudi Arabia Limited has been selected to manage passenger and lift platform services at the Dammam, Jeddah, and Riyadh airports.
Meanwhile, the contract for Guangzhou Airport in China will be handed to Guangzhou Baiyun International Airport Co. Both service providers have been chosen based on their demonstrated expertise and competitive bids.
The renewed agreements aim to ensure seamless passenger operations and enhance service quality at these major international hubs, supporting SriLankan Airlines’ regional presence.
August 22, Colombo (LNW): Opposition leader and presidential candidate for the Samagi Jana Sandhanaya (SJB) Sajith Premadasa has pledged to renegotiate Sri Lanka’s current deal with the International Monetary Fund (IMF) if elected.
Premadasa criticised the existing agreement, arguing it prioritises debt sustainability over vital economic growth, which he believes is essential for the country’s future.
Speaking at the National Visionary Summit in Colombo, hosted by the National Council of Professionals, Premadasa highlighted that Sri Lanka’s economy requires more than just financial stability.
He emphasised that the government should focus on areas such as trade and other critical sectors instead of merely achieving a modest 3.1 per cent growth by 2029, as outlined in the present IMF agreement.
According to Premadasa, this growth target is insufficient to meet the nation’s broader economic needs.
“We need growth that is not only sustainable but also tradable and inclusive,” Premadasa said, stressing the importance of shared prosperity.
He reiterated that while the Samagi Jana Balawegaya supports ongoing reforms, they intend to reshape policies that drive robust, long-term economic expansion.
Premadasa’s comments come as the nation debates its economic future amidst challenging times, with his message resonating strongly with professionals and the business community seeking a more ambitious and growth-oriented economic strategy.
August 22, Colombo (LNW): In a significant ruling, Sri Lanka’s Supreme Court, led by Chief Justice Jayantha Jayasuriya, directed the Election Commission to promptly organise the long-delayed Local Government elections.
The bench ruled that the failure to hold the polls, initially scheduled for 9 March last year, constitutes a violation of citizens’ Fundamental Rights by the Finance Ministry, Election Commission, and Attorney General.
The five-judge bench, including Justices Vijith Malalgoda, Murdu Fernando, Gamini Amarasekara, and Yasantha Kodagoda, delivered the decision in response to four Fundamental Rights petitions.
These petitions were filed by Samagi Jana Balawegaya (SJB) General Secretary Ranjith Madduma Bandara, National People’s Power (NPP) MP Harini Amarasuriya, the Centre for Policy Alternatives, and PAFFREL.
The petitions named multiple respondents, including Treasury Secretary Mahinda Siriwardena and the Election Commission.
The petitioners’ legal team featured prominent counsel, including Upul Jayasuriya PC, Nigel Hatch PC, and Viran Corea PC, while the Election Commission was represented by Saliya Pieris PC, and the Attorney General by Additional Solicitor General Nerin Pulle.
This landmark decision underscores the judiciary’s stance on upholding democratic rights, pressing authorities to expedite electoral processes amidst public demand for accountability.
August 22, Colombo (LNW): Concerns are mounting among investors as Sri Lanka’s dollar bonds continue to decline, driven by uncertainty surrounding the country’s debt restructuring timeline and the potential impact of the approaching presidential election.
The bonds due in 2030 dipped below 55 cents on the dollar this week, marking a drop from 59 cents in mid-June.
This decline positions Sri Lanka as one of the worst-performing emerging markets in August, trailing only Lebanon.
In July, Sri Lanka reached a preliminary agreement with private investors to restructure $12.6 billion in bonds.
The arrangement requires approval from the International Monetary Fund (IMF) and major bilateral creditors, including China and France.
The Sri Lankan government has since requested further clarifications from the IMF regarding the restructuring plan, reflecting growing apprehension over the deal’s viability.
Analysts suggest that the uncertainty stems from both the timing of the proposed bond exchange and the political ambiguity surrounding the upcoming election.
Portfolio manager Carlos de Sousa from Vontobel Asset Management noted that Sri Lankan bonds have underperformed other distressed assets due to these uncertainties.
A Bloomberg index tracking Sri Lanka’s dollar bonds shows a 1.6% decline this month, although the bonds have gained 9.7% in value this year, surpassing the Bloomberg Emerging Markets Hard Currency Aggregate Index.
According to Junior Finance Minister Shehan Semasinghe, the government remains engaged in ongoing discussions regarding debt restructuring.
An initial assessment from the Official Creditor Committee has been received, but further information is awaited before finalising talks with bondholders.
The timeframe for concluding the agreement remains unspecified, heightening investor concerns.
The situation is further complicated by the looming presidential election on 21 September, where President Ranil Wickremesinghe seeks a renewed mandate amid ongoing economic recovery efforts following Sri Lanka’s 2022 debt default.
The IMF continues to review the proposed restructuring to ensure it aligns with the terms of the $3 billion loan granted to the country.
However, the debt deal faces scrutiny over concerns regarding equitable treatment of creditors. Bilateral lenders have traditionally been reluctant to disclose borrowing terms, adding to the complexity.
The restructuring plan currently includes a 28% nominal reduction in bond principal and provisions for macro-linked bonds tied to economic growth.
Analysts remain cautious about the possibility of a pre-election resolution. Barclays Plc analyst Avanti Save highlighted the limited window to finalise the deal, while portfolio manager Thys Louw from Ninety One UK Ltd. speculates that the agreement is unlikely to materialise before the election, signalling potential delays in the restructuring process.
August 22, Colombo (LNW): President Ranil Wickremesinghe formally received the credentials of two newly appointed High Commissioners and three Ambassadors at a ceremony held at the President’s House in Colombo on 21 August, the President’s Media Division (PMD) announced.
Among those presenting their credentials were High Commissioners representing Zambia and Bangladesh, as well as Ambassadors from Lithuania, Vietnam, and Myanmar.
The event highlights the continued strengthening of diplomatic ties between Sri Lanka and these nations.
The list of newly designated envoys includes:
Ms. Diana Mickeviciene – Ambassador of Lithuania (based in New Delhi)
Ms. Trinh Thi Tam – Ambassador of Vietnam (based in Colombo)
Ms. Marlar Than Htaik – Ambassador of Myanmar (based in Colombo)
Mr. Percy Patson Chanda – High Commissioner of Zambia (based in New Delhi)
Mr. Andalib Elias – High Commissioner of Bangladesh (based in Colombo)
Following the formal presentations, President Wickremesinghe engaged in warm and constructive discussions with the diplomats, touching on areas of mutual cooperation and shared interests.
The ceremony, held with due protocol, was attended by prominent officials including Foreign Affairs Minister Ali Sabry and Presidential Secretary Saman Ekanayake.
August 22, Colombo (LNW): The Maligakanda Magistrate’s Court has issued a restraining order barring health sector trade unions and the Inter-University Students’ Federation (IUSF) from conducting protest marches or entering the premises of the Health Ministry today (22).
The order, effective from 10:00 a.m. to 9:00 p.m., also prohibits activities that could disrupt public movement or create inconvenience in the surrounding areas.
This legal directive was enacted in response to growing concerns over potential unrest and disruptions caused by recent demonstrations. The authorities sought the court’s intervention, highlighting the likelihood of public inconvenience and possible clashes in a high-traffic area that includes essential government services.
The health sector unions and the IUSF have been vocal in their demands, staging multiple protests in recent weeks, pressing for various grievances, including better working conditions, fair wages, and educational reforms.
August 22, Colombo (LNW): The Presidential Secretariat, in collaboration with the Ministry of Foreign Affairs and the United Nations Office in Sri Lanka, is holding a National Event today (22) at the Presidential Secretariat.
This gathering is intended to outline Sri Lanka’s contributions ahead of the upcoming UN Summit of the Future, scheduled for 22-23 September 2024 in New York.
The event aims to present Sri Lanka’s priorities in line with the objectives of the Summit, which focuses on the adoption of the “Pact for the Future.”
This pact will provide a comprehensive framework for addressing critical global challenges, such as poverty, climate change, digital governance, peace and security, and sustainable development.
The national event includes four panel discussions mirroring the core themes of the Pact for the Future.
Topics include Sustainable Development and Climate Financing, the Digital Divide and Global Digital Compact, Women and Youth in Future Generations, and Humanitarian Principles in Warfare.
These discussions are designed to facilitate dialogue among government officials, international agencies, civil society, academia, and other key stakeholders.
The event underscores Sri Lanka’s active engagement in global multilateral efforts and its commitment to sustainable development and humanitarian initiatives.
Participants include high-level government representatives, diplomats, UN agencies, international organisations, and civil society leaders.
The outcomes from this dialogue are expected to strengthen Sri Lanka’s role in shaping global strategies and fostering international cooperation.
August 22, Colombo (LNW): Prevailing showery condition over the island is expected to reduce from today (22), the Department of Meteorology said in its daily weather forecast today.
Several spells of showers will occur in Western, Sabaragamuwa and North-western provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts.
Showers or thundershowers will occur at a few places in Eastern and Uva Provinces during the evening or night.
Fairly strong winds about (30-40) kmph can be expected at times over Western slopes of the central hills and in Northern, North-central and North-western provinces and in Hambantota district.
The general public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.
Marine Weather:
Condition of Rain:
Showers or thundershowers will occur at several places in the sea areas off the coast extending from Puttalam to Matara via Colombo and Galle. Showers or thundershowers will occur at a few places in the other sea areas around the island during the afternoon or night.
Winds:
Winds will be south-westerly and wind speed will be (30-40) kmph. Wind speed can increase up to (55–60) kmph at times in the sea areas off the coasts extending from Trincomalee to Puttalam via Kankasanthurai, Mannar and from Hambantota to Pottuvil. Wind speed can increase up to50 kmph at times in the sea areas off the coasts extending from Puttalam to Hambantota via Colombo and Galle.
State of Sea:
The sea areas off the coasts extending from Kankasanthurai to Puttalam via Mannar and from Hambantota to Pottuvil will be rough at times. The sea areas off the coasts extending from Puttalam to Hambantota via Colombo and Galle may be fairly rough at times. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
