By: Staff Writer

January 09, Colombo (LNW): The Sri Lanka Navy on Monday said it is ready to send a naval ship to the Red Sea to combat the threat to merchant vessel lines by Houthi rebels, joining countries such as India, in protecting the key waterway for global trade.

The announcement comes following last week’s orders of President Ranil Wickremesinghe, who had declared the cost as Rs 250 million every fortnight.

The Iran-backed Houthi rebels have launched more than 20 attacks on merchant ships in recent weeks, claiming to take revenge against Israel for its military campaign against Palestinian terror group Hamas in Gaza.

These attacks have sharply raised goods’ transportation costs between Asia and Europe.

Newswire Lanka quoted Navy spokesman Captain Gayan Wickramasuriya as saying that but the exact date of deployment is yet to be confirmed.

The vessels would be covering the Red Sea, Arabian Sea, Gulf of Aden, and connected sea lanes.

Captain Wickramasuriya went on to say that initially one ship would be deployed as part of Operation Prosperity Guardians, the Naval operation underway at the Red Sea, and adjoining trade routes.

Discussions will be held and based on the warship’s capability it will be deployed to any one of the sea lanes requiring protection from the Houthi rebels, the Newswire Lanka quoted him as saying.

He also stated that the deployment of more ships or swapping of ships will take place based on the current requirements and economic situation of Sri Lanka, and a discussion on the matter.

Wickremesinghe, also the defence minister, has come under criticism for the decision at a time when the island was going through its economic crisis.

Presidential sources, however, said the cost of deploying the vessel would be much less compared to the losses incurred by the Colombo port if the vessel traffic is hampered due to Houthi attacks.

The Houthi attacks centred on the Red Sea’s Bab al-Mandeb southern chokepoint have disrupted shipping in a waterway that carries about 12 per cent of global trade.

At President Ranil Wickremesinghe’s behest, the Sri Lanka Navy is preparing to send ships to the Red Sea and surrounding waters.

Sri Lanka Navy Spokesperson Captain Gayan Wickramasuriya said that the deployment will be in support of Operation Prosperity Guardian, a US-led initiative aimed at combating Houthi rebel activity in Yemen.

While no specific date has been announced, Sri Lanka Navy Spokesperson Captain Gayan Wickramasuriya confirmed they are making arrangements for the deployment of vessels to the Red Sea.

January 09, Colombo (LNW): Forbes magazine’s recent rankings have positioned Sri Lanka as the fourth most sought-after solo travel destination globally for 2024. This recognition stems from a survey conducted by Flash Pack, a travel agency specializing in small-group expeditions tailored for solo travelers aged 30 to 50.

The report in Forbes highlighted Sri Lanka’s remarkable resurgence following challenging times, attributing its appeal to the captivating upcountry train routes. The article emphasized a significant rise in interest from US travelers alongside a burgeoning attraction among UK patrons, foreseeing 2024 as the year when Sri Lanka stages a remarkable comeback to dominate the travel scene with its immersive, unhurried adventures.

Notably, Forbes’ top solo travel destinations for 2024 showcased Japan at the pinnacle, followed by Argentina and Egypt. The subsequent spots in this prestigious list were secured by Colombia, Ecuador, the Galapagos, Jordan, Thailand, the Philippines, Bali, and the Gili Islands, respectively.

January 09, Colombo (LNW): Vidura Wickramanayaka, the Minister of Buddhasasana, Religious, and Cultural Affairs, announced the government’s intent to introduce fresh legislation aimed at preventing the intentional distortion of religious teachings and practices. This decision comes in the wake of recent incidents involving a religious cult that resulted in multiple suicides, prompting concerns about community disharmony.

Investigations led by the Police uncovered that an individual named Ruwan Prasanna Gunaratne (47) had been promoting the concept of suicide in relation to the next birth during his preaching. Shockingly, seven reported suicides across the country were linked to his religious teachings before he himself succumbed to suicide at his residence in Homagama.

Minister Wickramanayaka highlighted that the Cabinet of Ministers has already assembled a committee tasked with investigating matters associated with the manipulation of religious teachings and practices.

Emphasizing the importance of fostering an environment where individuals can freely practice their religions within legal boundaries, the Minister stressed the necessity of this legislation to safeguard against distortions that could potentially disrupt communal harmony.

January 09, Colombo (LNW): In a recent meeting between the High Commissioner of India in Sri Lanka and the Governor of the Central Bank of Sri Lanka (CBSL), the High Commissioner reaffirmed India’s commitment to being a reliable partner in Sri Lanka’s economic recovery efforts.

Discussions centred around key initiatives, including the early introduction of the Unified Payments Interface (UPI) payment system in Sri Lanka.

Additionally, there were talks about fostering growth in Indian Rupee (INR) trade settlements and India’s support in Sri Lanka’s ongoing debt restructuring process.

“The High Commissioner reiterated that India will continue to be a steadfast partner in Sri Lanka’s economic recovery in his meeting with the CB Governor. Discussed early launch of his UPI payment system in Sri Lanka, growing in INR trade settlements and India’s support in Sri Lanka’s debt restructuring process,” the Indian High Commission wrote on its official X handle.

This reaffirms the enduring partnership between the two nations, emphasising collaborative efforts for economic development and stability.

January 09, Colombo (LNW): Amidst efforts to fortify the country’s economy, Finance State Minister Ranjith Siyambalapitiya reiterated the stance against permitting vehicle imports at the current phase. Responding to media inquiries regarding a potential lift on the ban, he affirmed that no such decision had been made by the Government.

Dismissing speculations suggesting the possible allowance of imports for vehicles under 1000ccs, the State Minister asserted that no vehicle imports would be sanctioned until further consolidation of the economy.

Highlighting the formation of a committee specifically tasked with scrutinizing vehicle imports, Siyambalapitiya outlined the parameters under consideration. The committee is diligently evaluating factors such as prioritizing vehicle categories for import, assessing existing vehicle shortages, and scrutinizing the adequacy of the road infrastructure to accommodate additional vehicles.

Emphasizing the crucial role of the committee’s recommendations in dictating future decisions on imports, the State Minister underscored the strain that vehicle imports place on foreign reserves. He reaffirmed the government’s commitment to safeguarding the gradually improving economy from potential setbacks.

Addressing circulating rumors, particularly on social media platforms, Siyambalapitiya firmly dispelled claims of an imminent allowance for vehicle imports, reiterating that the Government remains resolute in withholding such permissions.

“At present, the Government is unwavering in its decision to prohibit vehicle imports,” he concluded.

January 09, Colombo (LNW): Japan has stressed the urgency of finalizing the Memorandum of Understanding (MoU) on debt restructuring between the Official Creditor Committee and the Sri Lankan Government. In a recent statement from the Japanese Foreign Ministry, transparency and comparability in agreements with creditors beyond the Official Creditor Committee were also highlighted.

Kazuya Endo, Director-General of the International Cooperation Bureau at Japan’s Foreign Ministry, emphasized these points during the Japan–Sri Lanka Economic Cooperation Policy Dialogue held in Colombo. This dialogue, conducted with Finance Secretary K.M.M. Siriwardana, aimed to comprehensively discuss bilateral economic cooperation following up on last year’s Japan–Sri Lanka Summit Meeting.

Acknowledging Sri Lanka’s reform efforts under the IMF programme, DG Endo expressed Japan’s support for continued necessary reforms. Secretary Siriwardana, in turn, detailed ongoing reform implementations and debt restructuring while appreciating Japan’s contributions to the debt discussions.

The dialogue also encompassed discussions on Japan’s future economic collaborations with Sri Lanka, focusing on stabilizing and reinforcing Sri Lanka’s economy while addressing socio-economic challenges through existing Yen loan projects.

DG Endo assured Japan’s ongoing support for Sri Lanka’s recovery from the economic crisis, emphasizing the importance of steady development. Secretary Siriwardana expressed gratitude for Japan’s support toward this goal.

Notably, a preliminary agreement on debt restructuring involving approximately US$ 5.9 billion of Sri Lanka’s outstanding public debt was reached in November last year among a group of creditor nations and Colombo. Japan, co-chairing this group alongside France and India, played a pivotal role in this agreement. Additionally, Sri Lanka has forged a debt restructuring deal with China alongside these efforts.

January 09, Colombo (LNW): Sri Lankan Rupee is holding its ground against the US Dollar at various commercial banks in Sri Lanka today, maintaining stability compared to the rates observed on Monday, January 9th.

At Peoples Bank, the rates for buying and selling the US Dollar have remained consistent at Rs. 316.77 and Rs. 327.81, respectively.

Commercial Bank reports a slight decrease in the buying rate of the US Dollar, which has shifted from Rs. 316.41 to Rs. 315.54. However, the selling rate remains steady at Rs. 326.50.

Similarly, Sampath Bank’s rates for buying and selling the US Dollar have not changed, remaining at Rs. 318 and Rs. 327, respectively.

The Public Utilities Commission of Sri Lanka (PUCSL) has refuted recent assertions made by State Minister of Power and Energy, Indika Anuruddha Herath, regarding a purported proposal for the reduction of electricity tariffs.

State Minister Herath had conveyed to the media that the Ceylon Electricity Board (CEB) had submitted a proposal to the PUCSL for the reduction of electricity tariffs. He suggested the likelihood of a potential decrease in electricity charges before February 2024 following PUCSL approval.

However, the PUCSL has categorically denied receiving any such proposal from the CEB. Jayanath Herath, the Corporate Communications Director at PUCSL, clarified through an official statement that the commission had not been presented with any request for electricity tariff reduction.

Emphasizing the absence of such a request from the CEB, Jayanath Herath assured that as of January 8, 2024, no such proposal had been received by the PUCSL. This statement from the PUCSL directly contradicts the claims made by the State Minister regarding the submission of a tariff reduction proposal to the commission.