By: Staff Writer

May 19, Colombo (LNW): Commercial Bank has announced a strategic partnership with Q&E to enhance the capabilities of small and medium enterprises (SMEs) through the Commercial Bank LEAP Global Linker platform.

The Commercial Bank LEAP GlobalLinker is a pioneering initiative in Sri Lanka, spearheaded by the bank itself. It’s a cutting-edge ecosystem designed to foster networking opportunities both domestically and internationally.

Developed with the backing of the International Finance Corporation (IFC), this platform is tailored to digitise enterprises and enhance business operations.

Aligned with global standards and leveraging the GlobalLinker platform, Commercial Bank LEAP GlobalLinker empowers SMEs and corporate clients to establish online stores at no cost, facilitating the sale of products and services.

Through this platform, businesses can broaden their customer base, connect with potential investors and suppliers worldwide, bolster networking efforts, explore foreign markets, and unlock exclusive perks from partners.

Additionally, it serves as a secure space for communication, fostering idea-sharing, collaborations, and knowledge exchange.

Under this collaboration, Q&E will play a crucial role in developing go-to-market strategies for SMEs, creating LEAP profiles and e-Stores, and enriching the LEAP Global Linker platform with specialised content and digital assets.

Commercial Bank Personal Banking/SMEs Assistant General Manager Ganeshan Sivasubramaniam emphasised the bank’s ongoing efforts to support SME growth: ”At Commercial Bank, we continuously strive to provide cutting-edge solutions to our customers. We invite SMEs to use the LEAP Global Linker platform to fuel their business success.”

“Q&E has over a period of three decades served several of the largest Sri Lankan corporate brands. Today, we are excited to expand our role by extending our service to the SME sector,” said Q&E CEO Dharshana Kumarawatte.

Empowering the SME sector is vital to Sri Lanka’s economy. Commercial Bank’s commitment to innovation and growth in the SME sector sets a new benchmark for development and support.

Interested SMEs should contact the Manager at their nearest Commercial Bank branch for more information and assistance, or visit the website directly at commercialbankleap.globallinker.com.

By: Staff Writer

May 19, Colombo (LNW): State run Ceylon Electricity Board (CEB) under the hammer of restructuring into six separate entities and registering them under the Companies Act in accordance with the provisions of Sri Lanka Electricity Bill has recorded profits for the first quarter 2024.

The CEB has achieved this profitable status amidst the drop in demand due to high  electricity bills and the disconnection of power of around 1,063,566 customers, the overwhelming majority of these poor households.

Amidst widespread protests by CEB trade unions and social activists against the controversial Sri Lanka Electricity Bill, the government plans to bring down the electricity tariff in July for the benefit of consumers.

The Ceylon Electricity Board has not submitted the relevant proposals to the Public Utilities Commission to approve new tariffs

 In the wake of these issues, state run Ceylon Electricity Board (CEB) for the first quarter ended 31 March (1Q24) has recorded a profit of Rs. 88.3 billion, which is a 349.8 percent change when compared with the Rs. 35.3 billion loss recorded in the corresponding period in 2023.

The entity generated revenue of Rs. 179 billion in 1Q14. Having provided no concessions to domestic customers, and witnessing a reduction of 28 percent in cost of sales, and a gross profit of Rs. 69 billion was recorded. In 1Q23, the CEB posted a gross loss of Rs. 17 billion.

With contractions in distribution cost (56 percent YoY), other expenses (32.7 percent YoY), and administrative expenses (14 percent YoY), CEB recorded an operating profit of Rs. 97 billion. This is a 608 percent change when compared to the Rs. 19.2 billion operating loss recorded in 1Q23.

While proceeds of interest bearing loans and borrowings recorded Rs. 4.8 billion, repayments of interest bearing loans and borrowings were Rs. 7.8 billion for the 1Q24 period.

In March, the Public Utilities Commission of Sri Lanka (PUCSL) approved an overall tariff reduction of 21.9 percent based on a proposal and cost data submitted by the CEB.

However, the reduction came after having electrocuted consumers by massively increasing the electricity tariff from August 2022, a move to boost revenue of the entity. The charges were raised to be in line with International Monetary Fund (IMF) conditions.

A 75 percent hike was seen in August 2022, 66 percent hike in February 2023, and 18 percent in October 2023.

By: Staff Writer

May 19, Colombo (LNW): In a momentous move aimed at protecting the unique ecosystem of Mannar Island, the environmental protection organisation, Wildlife and Nature Protection Society (WNPS), has filed a fundamental rights application in the Supreme Court.

This legal action challenges the recent cabinet decision to award a wind power project in Mannar Island to Adani Green Energy Ltd., of India.

The petitioner WNPS is represented by President’s Counsel Sanjeeva Jayawardana with Prashanthi Mahindarathe, Revan Weerasinghe and Rukshan Senadheera, instructed by S.W.A. Amila Kumara.

Indian giant and the world’s biggest renewable energy producer Adani is to invest $ 442 million for two wind projects 250 MW in Mannar and 234 MW in Pooneryn.

WNPS, known for its staunch advocacy for environmental conservation, argues that the project poses a severe threat to the island’s unique biodiversity and pristine landscapes especially in the Mannar Island.

The island itself is home to several protected areas such as the Adam’s Bridge National Park, the Viduthalaithivu National Park and the Vankalai Sanctuary.

The former two were declared RAMSAR wetlands only a few months ago by Minister Pavithra Wanniarachchi.

In addition, Mannar is the southernmost point of the Central Asian Flyway used by innumerable migratory species, while also being home to several indigenous water bird and bat species.

WNPS contends that the decision to approve the project was made without any appreciation of Mannar’s singular positioning as a biodiversity hub, violating both national environmental protection laws as well as international conventions.

The island’s diverse ecosystems, including mangroves, coral reefs, and wetlands, play a crucial role in maintaining the region’s environmental balance.

The organisation states that a severe threat exists that the construction and operation of the wind power project could lead to irreversible damage to these ecosystems.

The Petitioner contends that the manner and form of these actions by various authorities grossly abuse the doctrine of public trust reposed in authorities like the Forest Department and Department of Wildlife that have blithely ignored the irreparable ramifications of this project in a protected area replete with vulnerable species and war affected population struggling to survive.

The proposed Adani project will potentially raise the number of turbines on Mannar island to 82, supplementing the 30 turbines already existing as part of the Thambapawani project which has already caused staggering numbers of bird deaths, more than anticipated by the ornithologists consulted on the project.

If allowed to continue unabated the extension to the Adani project – titled Phase III – will pockmark Mannar island with 103 turbines across nearly 66% of Mannar’s land mass which has been declared Energy Development Areas.

1. President Ranil Wickremesinghe discusses implementing ‘Starlink’ in Sri Lanka with billionaire entrepreneur Elon Musk during the 10th World Water Forum in Indonesia: asserts commitment to expediting the application process for integrating Sri Lanka into the global Starlink network, which aims to provide low-cost internet access to remote areas: Minister Jeevan Thondaman praises the collaboration between the two parties.
   
2. SJB MP Nalin Bandara responds to NPP’s stance on a debate between the two Opposition parties, suggesting that a debate between the rival ‘economic councils’ should be held prior to the holding of another between the party leaders Sajith Premadasa and Anura Dissanayake: invites the NPP to select a convenient date from May 27 to 31 for the debate between the councils: adds a debate between the party leaders can be held on a convenient date from June 03 to 07.
   
3. The CEB records a Rs. 88.3 billion profit in 1Q24, reversing a Rs. 35.3 billion loss from 1Q23, despite high electricity bills and the disconnection of over a million poor households: The profit comes amidst government restructuring efforts and widespread protests against the new Sri Lanka Electricity Bill: Revenue for 1Q24 was Rs. 179 billion, with significant reductions in costs: The CEB plans to reduce tariffs in July but has not yet submitted proposals for approval: Past tariff hikes were in line with IMF conditions.
   
4. The Sri Lanka Army under the authorisation of President Ranil Wickremesinghe in his capacity as the Commander-in-Chief promotes a total of 114 officers and 1,395 other ranks of the Sri Lanka Army to their next ranks, in commemoration of the 15th Victory Day Anniversary: The promotions are effective from 19 May 2024, coinciding with the National War Heroes Commemoration Day.
   
5. President’s senior advisor on climate change Ruwan Wijewardena says several countries around the world spearheaded by India and China have stepped into collaborate and contribute towards the establishment of International Climate Change University in Sri Lanka considering their responsibility for climate action.
   
6. The government is set to resume “Suraksha” student insurance programme, which had earlier been on an economic hiatus: Starting the first week of June, it will cover all school students nationwide: The decision follows the approval of a Joint Cabinet Referendum from President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilisation and National Policy and Education Minister Susil Premajayantha.
   
7. The Defence Ministry receives over 400 complaints about Sri Lankan citizens allegedly recruited by mercenary companies to fight in the Russia-Ukraine war: A probe was initiated after reports of Sri Lankans, especially ex-military, being trafficked for the conflict: A hotline was set up for families to lodge complaints, resulting in 411 received so far: Both ex-soldiers and civilians are said to have been recruited: The government is set to send a delegation to Russia to identify and repatriate these citizens.
   
8. The Indian Coast Guard detain seven Sri Lankan nationals and their fishing boat for poaching in Indian waters off the Kanniyakumari coast: The suspects are to be handed over to the marine police for further legal action: This follows a similar incident on May 16, where 14 Sri Lankan fishermen were detained for illegal fishing of sea cucumbers.
   
9. Lord David Cameron reiterates Britain’s commitment to improving human rights in Sri Lanka, reflecting on his 2013 visit to Jaffna and emphasising support for truth, justice, and accountability: British MP Thangam Debbonaire criticises Sri Lanka’s failure to investigate war crimes and called for British support for the Tamil community and action based on UN recommendations: Other UK politicians express solidarity with Tamils on Mullivaikkal Remembrance Day, stressing the need for justice for those killed in the conflict’s final phase.
   
10. The fifth edition of the Lanka Premier League (LPL) player auction will take place on May 21 at the Hilton Hotel Colombo: 420 players are available, with the auction starting at noon and featuring 18 initial rounds focused on various player categories: has a total purse of $2.5 million from five franchises: The LPL tournament will run from July 1 to July 21, with more than 600 players registered, including international stars.

By: Staff Writer

May 19, Colombo (LNW): Several countries around the world spearheaded by India and China have stepped into collaborate and contribute towards the establishment of International Climate Change University in Sri Lanka considering their responsibility for climate action, senior presidential advisor on climate change Ruwan Wijewardena said.

President Wickremesinghe clarified that the university will not be confined to Sri Lanka; it will be an international stakeholder university, calling upon the international community to join hands in this endeavour, welcoming collaboration and contributions from around the world.

The International Climate Change University was one of the proposals Wickremesinghe made in the previous Climate Change Conference (COP27) in Egypt in 2022 and the government has already allocated 600 acres of land in the central Nuwara Eliya district.

It was launched at the 2023 United Nations Climate Change Conference (COP28) with an aim to promote climate related research and technologies.

During COP28, in Dubai, Sri Lanka’s President Ranil Wickremesing launched proposals for three new initiatives—a climate justice forum, a tropical belt initiative, and an international climate change university.

A Chinese research institute and two or three Indian universities have expressed willingness to collaborate in Sri Lanka’s climate related capacity building endeavour, he disclosed.

Universities from Yele to George Town, Chinese Research Universities, University of Geneva from Italy, and University from Gujarat, have been keen on coming in and establishing the university.

The British Council is ready to get the assistance of several British universities specializing in climate change as a subject to come together as one, so that they can take certain subjects of the Climate Change University, he revealed.

Bangladesh, Seychelles and Moldova have already pledged their support to the ICCU. He emphasized that climate action is not the sole responsibility of any single nation and called upon the international community to join hands in this endeavour.

The International Climate Change University would be a post-graduate institution solely focused on research and does not offer undergraduate courses. Any country or organization that contributes to the university becomes a stakeholder and gains membership on the Board of Governance.

The Korean Exim Bank has expressed interest in partnering with the university. President Wickremesinghe urged that all future research in the field of climate change should be conducted at this institution.

With the risk of other extreme weather events and climate-related disasters continuing to increase, the Government of Sri Lanka is scaling up its commitment to reduce greenhouse gas emissions and adapt to climate change under the Paris Agreement.

Central to this approach is the recognition that adaptation and mitigation strategies represent opportunities rather than obstacles to sustainable development and green economic growth.

May 19, Colombo (LNW): The Indian Coast Guard has reportedly detained seven Sri Lankan nationals along with their mechanised fishing boat for poaching in Indian waters.

Indian media reports claimed that the Indian Coast Guard Ship Vaibhav apprehended the Sri Lankan yesterday (18), after it was spotted fishing off the Kanniyakumari coast.

The boat, carrying seven crew members, was intercepted for illegal fishing activities within Indian maritime territory, according to ‘The Hindu’.

The Indian Coast Guard would transport the detained boat and the Sri Lankan fishermen to the Tharuvaikulam Fish Landing Centre on Sunday, 19 May, and upon arrival, they will be handed over to the marine police for further legal action, The Hindu report detailed.

This incident follows the arrest on May 16, of 14 Sri Lankan fishermen from Paruthithurai, Point Pedro.

They were detained by the Indian Coast Guard along with five boats for crossing the International Maritime Boundary Line (IMBL) and engaging in the illegal fishing of sea cucumbers.

By: Isuru Parakrama

May 19, London (LNW): In a recent statement, Lord David Cameron emphasised Britain’s commitment to improving human rights in Sri Lanka and supporting meaningful progress that allows the island’s residents to “remember their loved ones freely.”

Reflecting on his 2013 visit to Jaffna, Lord Cameron stated: “As we mark the 15th anniversary of the end of Sri Lanka’s armed conflict, my thoughts are with all those killed and disappeared, and with their loved ones who continue to search for answers.

I heard first-hand about the devastating consequences of the war when I visited Northern Sri Lanka in 2013. There I made a commitment that the UK would support truth, justice, and accountability for all.”

Thangam Debbonaire, the Shadow Secretary of State for Digital, Culture, Media and Sport, underscored the necessity of holding perpetrators accountable. 

“The Sri Lankan government has had more than 15 years since the end of the conflict but has frustrated any meaningful investigation and failed to fulfil assurances it gave the international community to deliver justice for Tamil victims,” she remarked.

Debbonaire called on the British government to support the Tamil community and take a decisive role in ensuring the Sri Lankan government acts to promote justice and accountability. 

She also highlighted the importance of considering the UN High Commissioner for Human Rights’ recommendations to refer those responsible for war crimes to the International Criminal Court.

Other politicians, including the Rt Hon Theresa Villiers, MP for Chipping Barnet and Vice Chair of the All-Party Parliamentary Group for Tamils, Steve Tuckwell, MP for Uxbridge and South Ruislip, and Louie French, MP for Old Bexley and Sidcup, shared video messages expressing solidarity and offering condolences to Tamils on Mullivaikkal Remembrance Day.

MP Theresa Villiers, reflecting on the memorial, remarked on the thousands of Tamils who were killed during the final phase of the armed conflict, underscoring the ongoing need for justice and remembrance.

*With inputs from Tamil Guardian