President Ranil Wickremesinghe leaves for Perth, Australia to participate in the 7th Indian Ocean Conference at the invitation of the India Foundation and Govt of Australia: expected to deliver the keynote address and to “explore investment opportunities for SL”.
Presidential Secretariat issues Gazette to bring the Online Safety Act under the purview of the Ministry of Public Security.
Reports emerge that SL is not likely to join Operation “Prosperity Guardian” in the Red Sea to counter attacks mounted by Yemen-based Houthis: previously, the possibility of SL deploying 2 vessels to support the US-led operation was discussed after President Wickremesinghe declared an intention to join the multinational maritime task force.
State Minister of Tourism Diana Gamage confirms that the Cabinet had already approved the export of cannabis: previously, Minister Bandula Gunawardena had dismissed claims that a proposal had been presented to the Cabinet on cultivating cannabis for export.
Central Bank says Official Reserve Assets have increased 2.3% to USD 4,491 mn in Jan’24 from USD 4,392 mn in Dec’23: also says it includes the SWAP facility from China of around USD 1,400 mn, which is subject to conditionalities on usability: analysts point out however that about USD 8,000 mn is now in default as “unpaid”, after the CB Governor & Treasury Secretary announced bankruptcy on 12th April’22.
Wife of late Minister Sanath Nishantha who was recently killed on the Katunayake Expressway, lodges a complaint with the CID stating that there are suspicions over the late Minister’s death: requests the CID to investigate.
Colombo Fort Magistrate Thilina Gamage questions as to how the CID filed action before the Mount Lavinia Magistrate’s Court against Pastor Jerome Fernando under the Prevention of Money Laundering Act, contrary to the accepted Court jurisdiction: observes the CID has no authority to arbitrarily determine the judicial jurisdictions when filing a case, as these have been established through a gazette notification.
President Ranil Wickremesinghe stresses need for a long-term, robust nation building programme: says he will introduce an “Economic Transformation Act” to enable the required economic transition: invites presentation of alternative methods for national reconstruction: expresses readiness to engage in discussions with top officials the IMF & World Bank in that regard: appeals for unity in nation-building despite political differences: calls on SJB, JVP, Tamil parties & Muslim parties to follow the example set by the SLPP, and join in a collective effort for the country’s progress.
SJB & Opposition Leader Sajith Premadasa walks out of the Parliament Chamber when President Ranil Wickremesinghe begins to present the Govt’s policy statement at the opening of the 5th Session of the 9th Parliament: however, several SJB MPs including Sarath Fonseka, Rajitha Senaratne, Kumara Welgama, Faisal Cassim, A H M Fowzie, Vadivel Suresh and Ishaq Rahman remain in the Chamber.
Top spinner Prabath Jayasuriya climbs 3 places to the 6th position in the ICC’s Men’s Test Bowling Rankings after his impressive 8-wicket haul in the one-off Test against Afghanistan: another bowler, Asitha Fernando also rises 7 spots to 34th position, after taking 6 wickets in the same match.
February 08, Colombo (LNW): Mainly fair weather will prevail over the island, with misty conditions being expected at some places in Central, Sabaragamuwa and Western provinces and in Galle and Matara districts during the morning, the Department of Meteorology said in its daily weather forecast today (08).
Marine Weather:
Condition of Rain:
Mainly fair weather will prevail in the sea areas around the island.
Winds:
Winds will be north-easterly and wind speed will be (20-30)kmph. Wind speed may increase up to (45-50) kmph at times in the sea areas off the coasts extending from Matara to Pottuvil via Hambantota and from Colombo to Mannar via Puttalam.
State of Sea:
The sea areas off the coasts from Matara to Pottuvil via Hambantota and from Colombo to Mannar via Puttalam can be fairly rough at times.
February 07, Colombo (LNW): President Ranil Wickremesinghe welcomed participants to the South Asia Hydromet Forum (SAHF) IV in Colombo, Sri Lanka, expressing the nation’s dedication to tackling Climate Change (CC) through collaborative efforts both regionally and internationally. The inaugural session at the Galle Face Hotel on February 6, themed ‘Unlocking Regional Synergies,’ saw President Wickremesinghe addressing key issues of adaptation and mitigation in the fight against CC.
Highlighting Sri Lanka’s commitment to supporting regional initiatives in CC mitigation and adaptation, President Wickremesinghe outlined significant steps, including the establishment of an international CC university. This university aims to provide postgraduate education and training for officials from various countries, contributing to a collective response to climate challenges.
President Wickremesinghe also proposed the creation of a tropical belt as a carbon sink, a concept discussed during COP 28 in Dubai. Emphasizing the importance of private sector investment in sustainable development projects within this region, he underlined the potential impact of these initiatives in combating CC.
Addressing the challenges posed by the COVID-19 pandemic and economic crises, President Wickremesinghe outlined Sri Lanka’s plans to enhance its meteorological organizations. He stressed the necessity of a comprehensive Hydromet regional network to effectively address CC-related challenges, particularly in South Asia.
The ongoing SAHF Forum, scheduled until February 8, aims to facilitate discussions and collaborations on Hydrology and Meteorology-related initiatives in South Asia. Initiated in 2018, SAHF connects National Meteorological and Hydrological Service providers (NMHSs) from the region, promoting data and knowledge exchange to address technical challenges and enhance collaboration.
President Wickremesinghe, underscoring the urgent need for action, drew attention to the economic repercussions of CC, citing potential GDP losses of up to 2% in low-income countries. He emphasized the necessity of establishing a regional network to facilitate collective action and announced plans to establish a panel of experts to conduct in-depth studies on proposed initiatives.
Highlighting collaborative efforts within the Indian Ocean Rim Association (IORA), President Wickremesinghe proposed potential funding mechanisms, including the establishment of a loss and damage fund. He suggested exploring alternative avenues, such as debt relief for countries investing in climate mitigation efforts within the tropical belt, to harness the potential of this region for global carbon reduction.
President Wickremesinghe concluded with optimism, expressing hope that the discussions at the Forum would lead to innovative solutions and initiatives in the region’s fight against CC. He urged participants to contribute their ideas and expertise to ongoing projects aimed at CC mitigation and adaptation.
SAHF Co-Chair Karma Dupchu, Director of the National Centre for Hydrology and Meteorology in Bhutan, along with other distinguished participants, convened at the Forum to further discussions on Hydrology and Meteorology-related initiatives in South Asia.
February 07, Colombo (LNW): In a significant development, the government has granted approval to issue National Vocational Qualification-3 (NVQ-3) level certificates for individuals involved in the skilled practices of tapping Palmyrah, Coconut, and Kithul trees, as well as those engaged in coconut plucking.
The National Apprenticeship Board is set to conduct a comprehensive two-week formal training program for individuals within these professions. This training not only focuses on honing their skills but also includes vital information on handling sudden illnesses, snake bites, and safety measures while working at heights, such as falling from trees.
Furthermore, a proactive initiative has been outlined to extend financial support to those involved in these activities for either self-employment or business development. The government plans to provide a subsidized loan assistance of Rs.500,000 to eligible individuals, fostering economic empowerment within these sectors.
Recognizing the inherent risks associated with these professions, special attention has been given to establishing an insurance system. The Agricultural and Agrarian Insurance Board, under the guidance of Minister Mahinda Amaraweera, will oversee the implementation of these initiatives, ensuring the well-being and security of those contributing to these essential industries.
February 06, Colombo (LNW):Cabinet grants nationwide issuance of light vehicle driving licences for hearing-impaired individuals following successful pilot project.
This news builds upon the successful pilot project conducted in Gampaha District, which began in November 2022. Based on its positive outcomes and recommendations from a committee overseen by the Transport and Highways Ministry Secretary, the Cabinet has now authorized the expansion of this program to encompass the entire nation.
This move marks a significant advancement in promoting inclusivity and mobility for hearing-impaired individuals in Sri Lanka. Licences will be issued on a bi-annual renewal basis, ensuring regular assessments and maintaining safety standards.
February 06, Colombo (LNW): Yesterday, the Speaker’s office announced that the Parliament successfully passed the Online Safety Bill, aligning with the Supreme Court’s determination, a confirmation echoed by the Attorney General’s Department.
Addressing concerns about a potential violation of the Supreme Court ruling in passing the Online Safety Bill, the Speaker’s office released a statement. It emphasized that the legislative process of the Parliament is a collaborative effort involving the Attorney General’s Department and the Legal Draftsman’s Department. Consequently, it asserted that there is no room for any action that contradicts a Supreme Court determination or violates the Constitution during the passage of a Bill.
The statement clarified, “The Speaker is obligated by Articles 79 and 80 of the Constitution to endorse the Certificate on a Bill once it has been duly passed.” In line with this obligation, the Speaker endorsed the Certificate on the Online Safety Bill on February 2, 2024, officially designating it as the Online Safety Act, No. 9 of 2024.
February 07, Colombo (LNW): Sri Lanka’s credit card industry is becoming increasingly dynamic, as the number of new cards issued declines yet the purchase volume and transaction value have steeply increased..
Even though Sri Lanka’s credit card penetration is considered to be fairly sufficient, it is comparatively low to its Southeast Asian counterparts
The credit card activity, which remained lull for a prolonged period, appears to have broken its trend and set off to potentially a robust run of spending in the period ahead.
The cardholders were seen swiping more frequently for their festive spending and leisure and travelling needs in December last year.
In the current trend toward a cashless society, credit cards are the predominant form of “plastic” currency used to take over cash. Credit card usage in Sri Lanka has steadily increased over the past few years.
However, users’ inability to manage spending may lead to excessive outstanding balances, prolonged repayment periods, and increased interest payments.
The latest data available showed that in December 2023, the cardholders have ramped up their spending considerably, as the outstanding credit card balance of the licensed commercial banks has jumped by a robust Rs.6,176 million, the largest monthly increase from a very long time.
This was in comparison to the Rs.1,205 million increase in November and Rs.309 million contraction in the month before.
The trend points to a sharp acceleration in the spending by the card users for their spending, as they appear to have felt a bit more ease to stretch their budgets, with the cooling inflation and softening interest rates.
The consumer sentiments in December also saw picking up, although that could be tempered by the January tax hike and the sharp increase in the prices of consumer goods.
However, the Central Bank is confident that the current price pressures wouldn’t last long, as inflation would settle at its medium-term target of around 5 percent, after a few months of running above the midpoint.
Despite the December jump in card balances, the full-year gain came in only a bit higher at Rs.8,275 million, reflecting that almost all the increases in 2023 came during the last two months.
December is however a month with some heightened activity, due to the year-end festive demand, where the people usually loosen their purse strings than in any other period of the year, except during March and April, for the traditional new year celebrations.
While the ceiling interest rate in cards’ outstanding balance was cut to 28 percent in September, from a high of 35 percent, it is expected that the Central Bank would further slash the maximum rate chargeable on cards in the near future, as the lending rates in the economy are easing faster.
February 07, Colombo (LNW): President Ranil Wickremesinghe, in his address during the ceremonial opening of the Fifth Session of the Ninth Parliament, declared the government’s commitment to easing the tax burden on the public while implementing economic reforms for stabilizing the country’s economy.
The Head of State highlighted the positive shift in Sri Lanka’s economic trajectory, citing a notable recovery despite the challenges faced in 2022. Despite a 7.8% GDP contraction and six consecutive quarters of negative growth, the nation rebounded with a 1.6% growth rate in the third quarter of 2023.
President Wickremesinghe further announced a significant turnaround in the economic landscape, revealing that despite a 1.9% GDP deficit in 2022, the country achieved a surplus by the end of 2023. This achievement marks the first surplus since 1977.
The ceremonial opening of the Parliament took place following the proroguing of the Fourth Session of the Ninth Parliament on January 26. As per the tradition of a new session, the President presided over the ceremonial opening and presented the government’s policy statement. In the past, this statement was referred to as the Throne Speech and was presented by the Governor.
The adjournment debate on the government’s policy statement is scheduled for two days on February 8 and 9, from 9.30 a.m. to 5.30 p.m. Additionally, the Resolution under the Essential Public Services Act is set to be approved without a debate on February 8, followed by the continuation of the adjournment debate on the government’s policy statement.
February 07, Colombo (LNW): President Ranil Wickremesinghe is set to ceremonially open the Fifth Session of the Ninth Parliament on Wednesday (7), marking the commencement of parliamentary proceedings. The President, following the formal opening, will present the Statement of Government Policy at 10.30 am in accordance with the constitutional powers vested in him under Article 33.
In adherence to the President’s instructions, the Ceremonial Opening will be conducted as a formal ceremony, omitting gun salutes and motorcades, as confirmed by Kushan Jayaratne, Serjeant at Arms.
The scheduled sequence of events includes the arrival of Speaker Mahinda Yapa Abeywardana and the Prime Minister Dinesh Gunawardena, followed by President Ranil Wickremesinghe and the First Lady. The President will be received near the main steps of the Parliament building by the Speaker and the Secretary General of Parliament, Kushani Rohanadeera.
Traditionally, after arriving at the Robing Room, the President will stay there until around 10.25 am. Following tradition, the Deputy Serjeant at Arms, carrying the Mace, will announce the entrance of the President into the chamber, where members of the ruling party and opposition will stand and salute.
During the President’s presentation of the Statement of Government Policy, he will preside over the House, with the Speaker sitting in the lower seat as during the Committee Stage. The House will be adjourned until 9.30 am on 08.02.2024 after the President concludes the presentation.
A tea party has been organized for invited guests, including foreign diplomats, former presidents, the Chief Justice, Attorney General, Secretary of Defense, Commanders of the three-armed forces, and the Acting Inspector General of Police.
President Wickremesinghe had prorogued the Parliament on January 26, 2024, in accordance with Article 70 (1) of the Constitution. With the commencement of the Fifth Session on February 7, any unresolved questions and motions from the previous session will be revisited, and committees, excluding specific ones, will be reconstituted as per standing orders. The Fourth Session of the Ninth Parliament, which concluded on January 26, saw 106 days of parliamentary proceedings.
February 07, Colombo (LNW): Still, a buoyant Sri Lankan tourism authority is targeting 2.3 million tourist arrivals and $4.6bn in revenue this year.
To achieve this, the country has launched its first global tourism marketing campaign in 16 years, under the tagline “You Will Come Back For More, Sri Lanka Tourism Development Authority Chairman Priyantha Fernnado said.
“We have identified nine tourist markets in which our digital marketing campaigns will be strengthened this year. We will also be getting vloggers and influencers to visit our country and produce promotional content,” Fernando added.
In late October, the government announced it will issue free tourist visas to visitors from seven countries, including China, India and Russia. This initiative, launched as a pilot project, will run until March 31, 2024.
Sri Lanka’s tourism industry marked a resounding start to the New Year by receiving more than 200,000 international visitors throughout the month of January.
In January, Sri Lanka received a total of 208,253 tourists, recording a staggering 103 percent year-on-year (YoY) growth. In January 2023, the island nation welcomed 102,545 visitors.
However, despite the industry having maintained a strong momentum of crossing the 200,000 milestone for two consecutive months, the tourist arrival rate is below the expected levels of the Sri Lanka Tourism Development Authority (SLTDA).
As per the projections of the SLTDA, in the lower case scenario, the tourist arrival expectation for January was 223,179, whereas in the upper scenario, the expectation was 241,962.
Based on the performance indicators set by the relevant authority, the island nation has missed the January target, the lower case scenario, by about 6.6 percent.
The January 2024 tourist arrival number is also lower than what was recorded in December 2023; it was 210,532.
Analysis shows that the weekly arrival average stood at about 47,000, whereas the daily arrival average was about 6,700.
India continues to remain as the largest tourist traffic generator for Sri Lanka tourism. The neighbouring giant contributed to 16 percent of the total arrivals, bringing in 34,399 visitors.
Ranking second is the Russian Federation, which accounted for 15 percent of the total arrivals, bringing in 31,159 tourists.
In the third position is the United Kingdom, which accounted for 8 percent of the arrivals, bringing in 16,665 international visitors.
While Germany and China rank as the fourth and fifth largest tourist traffic generators, the other key markets include France, Poland, Australia and the United States.
