July 08, Colombo (LNW): More than 200 public sector trade unions, including Grama Niladhari officers and surveyors, will commence a strike by taking ‘sick leave’ today (08) and tomorrow (09), the Trade Unions Collective revealed.
Government employees from various sectors such as postal services, surveying, agricultural regulation, Grama Niladhari officers, development officers, and prosperity officers are participating in this industrial action.
N.M. Wijeratne, President of the State and Provincial Public Management Association, stressed that these unions are protesting to demand a salary increase.
Chinthaka Bandara, co-convener of the United Postal Trade Unions’ Front, noted that postal workers began their strike at 4 p.m. yesterday (07) in support of this movement.
Joseph Stalin, General Secretary of the Ceylon Teachers’ Union (CTU), mentioned that while the CTU reported to work today, they will join the strike by taking sick leave tomorrow (09).
The Government Medical Officers’ Association and the Nurses’ Association have opted not to participate in the strike, ensuring that healthcare services continue uninterrupted.
Despite this, there is a significant risk of disruption to public services due to the planned strike action by trade union representatives today.
July 08, Colombo (LNW): A new scholarship initiative from the President’s Fund, aimed at supporting students from low-income families across grades 1 to 11 and G.C.E. (A/L), will commence at the district level starting 12th July 2024.
The programme will be managed by district secretaries in cooperation with zonal education offices and school principals, announced the Presidential Media Division (PMD).
Specific details, including the dates, times, and venues for the scholarship awards in each district, as well as the list of selected recipients, will soon be available on the official Facebook page of the President’s Fund.
The list of students selected for the G.C.E. (A/L) scholarship programme has already been published on the President’s Fund Facebook page.
A total of 6,000 students will receive scholarships, with 60 students chosen from each educational zone. Each student will be granted Rs. 6,000 per month for a period of 24 months.
At the award ceremonies, the selected students will receive an initial grant of Rs. 30,000, which includes any outstanding payments.
Subsequently, Rs. 6,000 will be provided monthly until the students sit for their G.C.E. (A/L) examinations.
The scholarship programme will also cover all 10,126 schools island-wide, providing support from grade 1 to grade 11 for 12 months.
Each selected student will receive Rs. 3,000 per month, totalling Rs. 36,000 over the year.
An arrears payment of Rs. 12,000 will be disbursed at the award ceremonies, followed by monthly payments of Rs. 3,000.
The President’s Fund encourages the public to follow its official Facebook page for updates on these scholarship programmes and to receive timely information on these significant educational initiatives.
July 08, Colombo (LNW): The prevailing showery conditions are expected to continue today in the south-western part of the island, the Department of Meteorology said in its daily weather forecast today (08).
Showers will occur at times in Western, Sabaragamuwa and North-western provinces and in Kandy, Nuwara-Eliya, Galle and Matara districts.
Showers or thundershowers may occur at a few places in Uva province and in Ampara and Batticaloa districts in the evening or night.
Strong winds of about (40-50) kmph can be expected at times over the Western slopes of the central hills, Northern, North-central and North-western provinces and in Trincomalee, Hambantota and Monaragala districts.
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.
Winds:
Winds will be south-westerly in the sea areas around the island. The wind speed will be (30-40) kmph and it can increase up to (50-60) kmph at times in the sea areas off the coasts extending from Trincomalee to Puttalam via Kankasanthurai and Mannar and from Hambantota to Pottuvil. The wind speed will be (25-35) kmph in the other sea areas around the island.
State of Sea:
The sea areas off the coasts extending from Trincomalee to Puttalam via Kankasanthurai and Mannar and from Hambantota to Pottuvil will be rough at times. The other sea areas around the island will be moderate. Temporarily strong gusty winds and very rough seas can be expected during thundershowers.
July 07, Colombo (LNW): SLASSCOM and IIT Madras Pravartak have inked a landmark Memorandum of Understanding (MoU) aimed at enhancing collaboration and fostering innovation in Sri Lanka’s startup ecosystem.
The agreement was facilitated by Dr. Shankar Raman from IIT Madras Pravartak and SLASSCOM Chairman Jehan Perinpanayagam, Rajendra Moortha and SLASSCOM Vice Chair Nishan Mendis.
The MoU between SLASSCOM and IIT Madras Pravartak encompasses a comprehensive set of initiatives aimed at fostering innovation and entrepreneurship in Sri Lanka.
It includes identifying and supporting high-potential startups through IIT Madras Pravartak’s incubator program, offering mentorship and resources to accelerate their growth.
SLASSCOM will establish a new incubator in Sri Lanka modelled after IIT Madras Pravartak’s successful framework, focusing on mentorship, funding, and skills development.
The collaboration will also drive collaborative research in technology, sustainability, and healthcare sectors, while promoting cross-border exchanges through internship programs.
Additionally, joint efforts in funding, mentorship, and market access initiatives aim to bolster Sri Lankan startups’ entry and expansion into the Indian market, leveraging synergies between both organisations’ networks and expertise.
IIT Madras Parvartak Technologies Foundation CEO Dr. Shankar Raman stated, “We are excited about the potential of this partnership to ignite a new wave of innovation and entrepreneurship in Sri Lanka.
By combining SLASSCOM’s industry expertise with IIT Madras Pravartak’s proven incubation model, we aim to create a fertile ground for startups to thrive and scale. This MoU is not just about sharing resources and knowledge; it’s about shaping the future of Sri Lanka’s tech landscape.”
“This collaboration represents a pivotal moment for SLASSCOM and Sri Lanka’s startup ecosystem.
Together with IIT Madras Pravartak, we are poised to unlock unprecedented opportunities for local startups, equipping them with the tools and support needed to compete on a global stage.
We look forward to fostering a culture of innovation and excellence that drives sustainable economic growth. We also extend our gratitude to the Indian High Commission for their support in facilitating this collaboration,” added SLASSCOM Chairman Jehan Perinpanayagam.
July 07, Colombo (LNW): Governor of the Central Bank of Sri Lanka Dr Nandalal Weerasinghe has dispelled misconceptions regarding Sri Lanka’s total debt, clarifying that the increase from USD 96 billion in December 2023 to a projected USD 100 billion by March 2024 is largely due to exchange rate fluctuations rather than new borrowing.
Joining an interview held at the Presidential Media Centre on Friday (05), the CBSL Governor said that despite a detailed explanation of this made by President Ranil Wickremesinghe in Parliament recently, some have mistakenly interpreted the rise as an increase from USD 70 billion to USD 100 billion.
Commenting in this regard, Dr. Weerasinghe added: “The status of the debt as of March 2024 was outlined in the Debt Bulletin you referenced. The entire loan amount is denominated in US dollars, totaling USD 100 billion. As you know, our country manages both domestic and foreign debts, with foreign loans typically in dollars.
“When including domestic debt in the table, it is converted into dollars. Previously, our exchange rate was 324, but it is now 301. Consequently, the foreign exchange position has strengthened, which is favorable. However, the higher exchange rate increases the dollar value of our debt in rupees. Thus, despite no additional borrowing, the debt appears higher due to the exchange rate fluctuation”, he expressed.
Meanwhile, the CBSL Governor also expressed: “additionally, is it beneficial or detrimental to defer debt repayment? When a country progresses, a budget deficit inevitably arises if expenditure exceeds income. This deficit necessitates borrowing. We are not alone in this; other countries also borrow. This on-going process leads to automatic increases in loans.”
Furthermore, he highlighted that the challenge lies in maintaining debt at a sustainable level.
“Can borrowing continue, and if so, from where? Should loans come from the central bank? As you know, the central bank prints money, and we understand the implications of excessive money printing. Should we continue this to cover budget deficits? Should we increase or reduce our credit?”, he questioned.
Dr. Weerasinghe, who stated that achieving debt sustainability entails managing debt at a level sustainable for the country, mentioned that strengthening public financial management is essential alongside debt restructuring.
The CBSL Chief pointed out that Sri Lanka must manage our finances prudently, emphasizing revenue growth and maintaining manageable expenses“By striking this balance, we can sustain a manageable budget deficit and progress forward”, he added.
“Moreover, expenditure must align with income. For instance, approximately 80% of our income goes toward loan interest, leaving 20% for other expenditures.
This proportion represents 19-20% of gross production costs, yet our income was only 8% in 2022, resulting in a 12% budget deficit.
We have since increased income to around 11%, reducing the deficit to 8%, which is progress. Our expenditure is not the primary concern; rather, income must be bolstered. Despite this improvement, satisfaction remains elusive. Under the IMF program, we aim to raise income to 15%, while capping costs at approximately 5%,” he said.
July 07, Colombo (LNW): The export Development Board (EDB) leads industry and academia collaboration to improve R&D for export market in construction, power and energy sectors
The Sri Lanka Export Development Board (EDB), in collaboration with the Engineering Faculty of the University of Moratuwa (UoM), has launched a new program to integrate the construction, power and energy industries with university research projects to address challenging research questions with real-world applications.
This program is planned for two years commencing from 2024 till the end of 2025 with the participation of selected companies.
The innovative solutions developed through this program will enable the companies to compete in the international markets.
This program will also enhance the quality of construction related and power and energy services of Sri Lanka and will lead to generate more foreign exchange earnings to the country.
The main objective of this initiative is to establish a connection between the industry and university research projects in order to tackle complex research queries that have practical applications.
This collaboration between strategic businesses and university research offers an opportunity for numerous issues to be solved through research and development (R&D). EDB has officially extended an invitation to the private sector companies to take advantage of this opportunity and enhance their products and services.
Venora Lanka Power Panels Ltd., and Sentinel Systems with their expertise in the field of electrical engineering were the first to submit their business R&D proposals related to power and energy under this program.
Both companies are committed to developing IoT enabled power distribution systems and advanced Building Management Systems. These systems will seamlessly integrate state-of-the-art technologies to address the escalating energy costs. By doing so, they aim to alleviate the substantial financial burden faced by individuals and various industries.
This collaborative effort, involving both the public and private sectors, offers a promising solution to optimise energy consumption. Not only will consumers have the ability to visualise their electricity usage in their daily lives, but the conversion of technical parameters into meaningful business statistics will also provide invaluable insights to individuals and decision-makers within organisations.
EDB plays a supportive role and acts as a facilitating partner in this collaborative program. Both companies aim to launch their initial product and solutions within four to six months and will continue to produce high-quality research outputs through advanced engineering solutions.
The program is currently accepting proposals from companies. Export Development Board and University of Moratuwa is keen to support additional companies who wish to participate in this program and develop innovative solutions to compete in the global market.
Interested construction and power and energy companies are invited to submit their research and development proposals or consultancy requirements to EDB in order to be considered for this program.
July 07, Colombo (LNW): Thirty dynamic Sri Lankan journalists embarked on an entrepreneurial journey during a workshop held on July 13th and 14th, 2024, at NH Collection Hotel in Colombo.
This initiative, organized by the International Labour Organisation (ILO) and the Ceylon Chamber of Commerce (CCC) in collaboration with the Rainbow Institute of Communication, aimed to foster entrepreneurship among young journalists from various media backgrounds, including print, electronic, and digital platforms.
Selected through a competitive application process from 212 applicants, these journalists explored entrepreneurship as a career path, moving away from traditional aspirations of public sector employment.
The program, part of ILO’s South Asia Leadership in Entrepreneurship (SALE), emphasized creating an enabling environment for youth in the digital economy and e-commerce sectors. It provided training and awareness to equip participants with the skills needed to navigate entrepreneurial ventures.
Central to the workshop was the concept of entrepreneurship journalism, which highlights stories of innovation, startups, and economic dynamics.
Participants engaged in interactive sessions led by experts like Dr. Thomas King on the entrepreneurial ecosystem, and Charindra Chandrasena on developing impactful entrepreneurship stories.
Additionally, sessions on combating fake news by Fact Crescendo Sri Lanka’s Pavithra Sandamali and S.G. Prabhu, and leveraging Artificial Intelligence and digital tools for reporting by Hasitha Dela and Omar Rajaratnam, enriched the participants’ journalistic toolkit.
A highlight of the workshop was a panel discussion featuring young entrepreneurs Helani Adhikara, Malindu Pradinath, Kavindi Ransinghe, and Hansana Janinda, winners of the 2023 ILO-CCC SPARK competition. This session provided unique insights into entrepreneurship and marked the journalists’ first-hand experience in interviewing successful young entrepreneurs.
The culmination of the program included an announcement by ILO and CCC of a dedicated category for young journalists in the upcoming SPARK competition 2024. This competition, aimed at youth aged 15 to 30, offers a platform to pitch entrepreneurial ideas, providing workshops, national and international recognition, and networking opportunities.
The event was officiated by ILO National Project Coordinator Erandhika Dissanayake, Communications Officer Kaushalya Kathiresan, and CCC Senior Assistant Secretary General Manori Dissanayake, who encouraged participants to submit their work for this prestigious competition.
The workshop concluded with enthusiastic responses from the journalists, expressing their newfound interest in entrepreneurship through media content creation, pursuing their own ventures, and participating in the upcoming SPARK competition.
July 07, Colombo (LNW): The Sri Lankan Embassy in Israel has advised Sri Lankan nationals residing in northern Israel to take precautionary measures following increased attacks by Hezbollah in the region.
Approximately 2,000 Sri Lankans are employed in agricultural and caregiving roles in northern Israel, according to the embassy.
The Sri Lankan Ambassador to Israel reported that Israeli authorities have confirmed extensive damage, with 15,000 acres of dry grassland and cropland destroyed in recent rocket and drone attacks from Lebanon.
These attacks were in retaliation for Israel’s strike on a senior Hezbollah commander.
The embassy further noted that due to severe drought conditions, the fires have spread across multiple areas, prompting Israeli firefighters to actively manage the situation.
In light of these developments, the Sri Lankan Embassy in Israel has advised residents in the affected region to prioritise their safety, suggesting they remain at their workplaces except for essential reasons.
Residents have been instructed to contact the embassy promptly in case of emergencies requiring assistance.
July 07, Colombo (LNW): Eleven Sri Lankan citizens have been expelled from the United Arab Emirates (UAE) following allegations of cybercrime, as confirmed by the Sri Lanka Bureau of Foreign Employment (SLBFE).
According to SLBFE, UAE authorities have apprehended a total of 37 individuals suspected of engaging in cybercrimes.
These suspects are expected to be deported within the next fortnight, pending the completion of ongoing investigations in the UAE.
The SLBFE has stated that it will coordinate with the Ministry of Foreign Affairs and Sri Lankan Police to determine the next steps for the deported individuals upon receipt of investigative reports from the UAE.
July 07, Colombo (LNW): The National Aquatic Resources Research and Development Agency (NARA) has raised concerns about the impact of bottom trawling by Indian fishermen on marine resources in Sri Lanka’s waters.
Director Ganapathypillai Arulanandan highlighted the damaging effects of this fishing technique, particularly in the North Sea, where it has led to a notable 50 per cent decline in fish stocks since 2015.
Arulanandan attributed this decline to the destruction of coral reefs and seaweed beds, crucial habitats for fish breeding, caused by bottom trawling.
Acknowledging the difficulties faced by Sri Lankan authorities in curbing illegal fishing activities, Arulanandan called for stricter enforcement measures and increased international collaboration to protect the marine resources in Sri Lanka’s waters.
