1. President Ranil Wickremesinghe expressed his aspirations for Sri Lanka to reclaim its position as the champion of cricket, highlighting the government’s commitment to providing all necessary support to achieve this goal. He emphasized the importance of maintaining a separation between politics and sports. He suggested that preventing politicians from assuming high positions in sports clubs could contribute to a healthier sporting environment.

2. The new Bill on electricity sector reforms will be gazetted in the next two weeks, Minister of Power and Energy Kanchana Wijesekera said. Subsequently, the new bill will be presented to the Parliament during the last week of April, according to the Minister.

3. Sri Lanka has recorded an export income of Rs. 983.7 million in the past two months, State Minister of Small and Medium Enterprises Development Prasanna Ranaweera announced. He pointed out that this figure serves as a confirmation that the country is heading in the right direction economically.

4. The National STD/AIDS Control Programme says that there is a significant increase in the percentage of HIV (human immunodeficiency virus) infections in Sri Lanka compared to last year.

5. The Cabinet of Ministers has accepted the proposal to suspend the Special Commodity Levy Act from 01 January 2025, says Finance State Minister Ranjith Siyambalapitiya. Speaking to the media in Ruwanwella, said the government intends to introduce new legislation aimed at safeguarding both consumers and local manufacturers.

6. The Illegal Assets and Intellectual Property Investigation Unit has seized property worth nearly Rs.100 million belonging to a drug trafficker who uses the alias ‘Kudu Noni’. Police say the Unit seized four houses, two boats and several vehicles.

7. Sri Lanka’s Headline Inflation decelerated sharply to 0.9% in March 2024 from 5.9% in February 2024. “Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) decelerated sharply to 0.9% in March 2024 from 5.9% in February 2024,” said the Central Bank Of Sri Lanka.

8. A Police Sergeant has been sentenced to four years imprisonment for accepting a bribe of Rs. 500, it was reported. The Police Officer is reported to have accepted a bribe of Rs. 500 from a three-wheeler driver to avoid filing legal action related to a traffic offence.

9. Radiological Technologists in the cancer treatment unit of the Batticaloa Teaching Hospital launched a strike action on Friday (29). The strike will continue on Saturday (30) as well. President of the Government Radiological Technologists’ Association Chanaka Dharmawickrama said the decision to strike was reached against the actions of the Director of the hospital.

10. The University Grants Commission has issued a circular to the effect that the title of Professor can only be used while a person is still serving in an academic institution. When he or she retires or resigns, that title cannot be used with his or her name unless he or she has been awarded the title of Emeritus Professor by the Council of the Academic Institution concerned.

March 30, Colombo (LNW): General Shavendra Silva, the Chief of Defence Staff of Sri Lanka, recently undertook a significant visit to Kenya at the invitation of the Ministry of Defence of Kenya, marking a pivotal moment in bolstering defence ties between the two nations.

This landmark visit, aimed at promoting Sri Lanka’s interests across various domains, holds historical significance as General Silva becomes the first Chief of Defence Staff of Sri Lanka to visit Kenya. Aligned with President Ranil Wickremesinghe’s strategic vision to expand diplomatic relations, including defence cooperation, with Africa, General Silva’s visit underscores Sri Lanka’s commitment to deepening engagement with the continent.

During his stay, General Silva engaged in substantive discussions with Kenya’s defence establishment, focusing on enhancing defence cooperation between Sri Lanka and Kenya. These productive dialogues are poised to yield positive outcomes, paving the way for strengthened collaboration in the future.

In addition to official engagements, General Silva had the opportunity to meet with the Sri Lankan business community in Kenya. Although time constraints limited his visits, General Silva, accompanied by High Commissioner Kananathan, toured Mas Intimates, a prominent apparel industry in Kenya employing thousands of local workers. This visit not only provided valuable insights into Sri Lankan investments in Kenya but also bolstered visibility, contributing significantly to the burgeoning economic ties between the two countries.

High Commissioner Kananathan emphasized the importance of General Silva’s interaction with the expatriate community, highlighting the mutual benefits of fostering closer ties between Sri Lanka and Kenya.

March 30, Colombo (LNW): Bangladesh High Commissioner in Colombo, Tareq Md Ariful Islam, emphasized his country’s commitment to fostering closer cooperation with Sri Lanka across various sectors during a reception held to mark the 53rd National Day on Tuesday.

Highlighting areas of potential collaboration, High Commissioner Ariful Islam mentioned public health, agriculture, tourism, and youth development as key focus areas. He also noted efforts to enhance shipping and air connectivity between the two nations, emphasizing Bangladesh’s significant utilization of Colombo Port.

Expressing solidarity, he recalled Bangladesh’s support to Sri Lanka during challenging times and mentioned ongoing discussions for a Preferential Trade Agreement (PTA) to expand business opportunities.

High Commissioner Ariful Islam announced the commencement of FitsAir operations between Dhaka and Colombo next month, expecting increased tourism and enhanced people-to-people connectivity and business exchanges.

Transport, Highways, and Media Minister Dr. Bandula Gunawardhana, the chief guest at the event, underscored the enduring friendship between the two countries since Bangladesh’s independence in 1972. He expressed optimism about Sri Lanka’s economic stability and hoped for a return to growth in 2024.

Ariful Islam stressed Bangladesh’s unwavering support for Sri Lanka’s endeavors and highlighted the potential benefits for Sri Lanka in tapping into Bangladesh’s domestic market and economic growth trajectory. He commended Sri Lankan businesses investing in Bangladesh and noted growing interest in bilateral trade.

Acknowledging Sri Lanka’s role in Bangladesh’s cricketing development, Ariful Islam humorously remarked on the competitiveness between the two teams on the field.

The event was attended by several dignitaries, including Ministers Mahinda Amaraweera, Ali Sabry, Wijayadasa Rajapakshe, Susil Premajayantha, former President Mahinda Rajapaksa, heads of foreign missions, and defense attaches.

March 30, Colombo (LNW): In a significant ceremony held yesterday (29) at the Isipathanarama Viharaya in Maharagama, President Ranil Wickremesinghe presided over the handing over of credentials for the positions of Chief Sangha Nayaka to the Uva-Wellassa and Colombo, as well as the noble title of “Upadhyaya” to the Ratmalana Vihara sector in Kotte Sri Kalyani Samagri Dharma Maha Sangha Sabha of the Siam Maha Nikaya. These titles were conferred upon Ven. Maharagama Nanda Nayaka Thera, who currently serves as the Chief Incumbent of five temples, including the Walukaramaya Colpetty.

Ven. Maharagama Nanda Nayaka Thera’s religious and social contributions were recognized by the Ratmalana Vihara sector of the Kotte Sri Kalyani Samagri Dharma Maha Sangha Sabha of the Siam Maha Nikaya, leading to the bestowment of these prestigious positions.

The formal scroll memorandum was presented by the Maha Nayaka Thera of the Kotte Sri Kalyani Samagri Dharma Maha Sangha Sabha of the Siam Maha Nikaya, Most Venerable Iththepane Dhammalankara Maha Nayaka Thera. President Ranil Wickremesinghe presented the “Vijinipatha” during the ceremony, adding to the solemnity of the occasion.

Ven. Dr. Niyangoda Vijithasiri Nayaka Thera, Anunayaka of the Malwathu Chapter of Siam Maha Nikaya, delivered a special exhortation, further enriching the ceremony with spiritual wisdom and guidance.

March 30, Colombo (LNW): The Sri Lankan migrant labor community, known for its substantial contribution to the country’s economic growth, has remitted an impressive Rs. 289.2 billion (equivalent to 964 million US dollars) to Sri Lanka during January and February of this year.

A recent report issued by the Central Bank of Sri Lanka reveals that the country received $488 million in remittances in January and $476 million in February of this year. This marks a significant increase compared to February 2023, with remittances totaling $407 million.

In January 2023, Sri Lanka received remittances amounting to $437 million. The report underscores a notable surge in remittance value in 2024 compared to the same period in the previous year.

Moreover, the Central Bank of Sri Lanka highlights that by the end of February 2024, the gross official reserves stood at $4.5 billion, including a foreign exchange facility of $1.5 billion received from the People’s Bank of China. In February of this year, the Central Bank of Sri Lanka purchased $240 million on a net basis, further enhancing the country’s foreign exchange reserves.

China’s Sinopec plans to initiate work on its new refinery in Hambantota by June,.Power and Energy Minister Kanchana Wijesekera announced on Thursday 28

Taking to ‘X’ he noted that Sinopec Overseas Investment Holding (SOIHL) Vice President updated on the progress of the negotiations with stakeholders for the construction of the proposed refinery in Hambantota.

A group of key officials of the SOIHL called on the Power and Energy Minister on Wednesday and they have indicated that the management of Sinopec has decided to double the capacity of the refinery form the original proposal and the investment. 

“They intend to sign the agreements for the project and commence work by June 2024,” the Minister noted. 

On 27 November 2023, the Cabinet of Ministers approved awarding the contract to Sinopec to forge an agreement for the establishment of a petroleum refinery and associated product processing centre in Hambantota. 

The proposed refinery project is expected to invest a minimum of $ 4 billion to be built in the Industrial Zone at the Hambantota Port. 

Wijesekera also added that discussions regarding the water supply, power supply, land allocation and BOI facilities took place yesterday with the relevant authorities.

Sinopec, stands as the largest oil and petrochemical products supplier and the second-largest oil and gas producer in China, bringing its expertise to the table for this venture, signalling a strategic partnership between Sri Lanka and China.

The firm holds the distinction of being the largest refining company and the third-largest chemical company worldwide. The company’s extensive network comprises a large number of gas stations, ranking it second globally. In 2021, Sinopec secured the fifth spot on Fortune’s Global 500 List.

Sinopec, stands as the largest oil and petrochemical products supplier and the second-largest oil and gas producer in China, bringing its expertise to the table for this venture, signalling a strategic partnership between Sri Lanka and China.

The firm holds the distinction of being the largest refining company and the third-largest chemical company worldwide. The company’s extensive network comprises a large number of gas stations, ranking it second globally. In 2021, Sinopec secured the fifth spot on Fortune’s Global 500 List.

A Japanese investor has stepped up to breathe new life into Pettah’s floating market and spearhead the revamp to the iconic landmark underlining Sri Lanka’s position as a premier tourist destination.

The memorandum of understanding (MoU) for the project was signed by the Urban Development Authority (UDA) Chairman Nimesh Herath and the Japanese investor Akira Hirose yesterday at UDA in Battaramulla. 

The total amount invested in the renovation is Rs. 300 million. The local partner is J&S Masters Ltd.Herath reiterated the commitment to select the most suitable investor to revive the Pettah floating market while ensuring minimal disruption to existing businesses. 

The Japanese investor will manage and operate the Pettah floating market under a 30 year lease agreement. The envisioned transformation aims to position the floating market as a Japanese Town and a tourist attraction. 

The project, slated for completion within six months, will undergo a comprehensive redevelopment to address issues such as inadequate maintenance, security concerns and declining business activity.

The UDA faced severe criticism over the management of the floating mall and taking heed of these concerns, Urband Development and Housing Minister Prasanna Ranatunga directed the UDA to explore opportunities for development through public-private partnerships (PPPs), given the current economic challenges in the country.

Minister Ranatunga said the importance of ensuring that existing shop owners are not disadvantaged during the development process.

Originally opened on 25 August 2014, the Pettah floating market was conceptualised under the guidance of former Defence and Urban Development Secretary Gotabaya Rajapaksa. However, under the previous administration, the floating market faced neglect, resulting in deteriorating conditions and dwindling business activity.

Following a complete renovation in accordance with the vision for developing Colombo Fort as a commercial and historical hub, the floating market was reopened on 7 April 2021.

About 80 percent of the shops at the Pettah Floating Market had closed down by the beginning of the year, Urban Development Authority (UDA) announced on Wednesday.The UDA said that the floating market was declared open in 2014 at a cost of 352 million rupees.However, shop owners have been moving out during the last few years due to the lack of maintenance, unhygienic surroundings and various illegal activities taking place there, the UDA said

Supreme Media proudly announces that it has forged a strategic alliance with TNL, a pioneering force in electronic media in Sri Lanka, to significantly broaden its electronic media offering and experience across the nation. This historic partnership promises to create a momentous chapter in Sinhala language television and electronic media in Sri Lanka by expanding its horizons.

Supreme, one of the nation’s fastest-growing channels, has recently embarked on a new brand journey identified by its inspiring slogan “Mage Handa Mage Rata – My Voice My Country”. With this strategic alliance in place, the Reach of Supreme Media gets expanded to more than double across Sri Lanka, allowing it to connect with a broader spectrum of audience to deliver its unique, premium variety of content and fulfil its inspiring brand commitment.

This monumental partnership further extends into the radio domain, with TNL’s Radio channels at 89.1 and 89.3 MHz undergoing a rebranding as ‘Supreme’ with the same inspiring brand message – Mage Handa Mage Rata. 

This move not only enhances Supreme Media’s ability to connect with a wider audience through multiple media forms but also signifies its formal arrival as a Media Network, with offerings that include two TV channels, One radio channel, and three distinct digital channels.

The partnership comes at a pivotal moment for Supreme, coinciding with the launch of the Indian Premier League (IPL) cricket matches on its platform starting on 22nd March 2024. Hence, this development proves to be a boon for cricket enthusiasts across the island, offering them an array of viewing options – Bringing the spectacle of IPL closer to every home in Sri Lanka. 

With this long-term partnership in place, Sri Lankan media audiences now can look forward to a broadened spectrum of unique and premium Sinhala language programming and News, not only fulfilling their entertainment and infotainment needs.

 It will be extending its supporting hands to all local artistes, local arts, local brands, home-grown businesses and industries to grow and compete in the world stage and boosting the Sri Lankan Economy as its Mission.

March 29, Colombo (LNW): The deficit in the merchandise trade account widened to US dollars 319 million in February 2024 from US dollars 39 million recorded in February 2023, mainly with a higher increase in imports than the increase in exports, Central Bank announced. . 

Similarly, the cumulative deficit in the trade account during January to February 2024 also widened to US dollars 860 million from US dollars 484 million recorded over the same period in 2023.

Earnings from merchandise exports increased by 7.9 per cent to US dollars 1,059 million in February 2024 compared to US dollars 982 million in February 2023. 

An increase in earnings was observed in all major categories of exports, including industrial, agricultural, and mineral. 

An increase in industrial goods exports in February 2024 compared to the same period in 2023 was mainly contributed by petroleum products due to the increase in volumes of bunkering and aviation fuel exports.

 Earnings from exports of agricultural goods improved in February 2024 compared to a year ago mainly driven by tea due to both higher export volumes and prices. 

Earnings from mineral exports also increased marginally in February 2024. Meanwhile, earnings from exports in February 2024 increased compared to January 2024, led by higher textiles and garment exports.

Expenditure on merchandise imports recorded an increase of 35.0 per cent to US dollars 1,378 million in February 2024 compared to a significantly lower base of US dollars 1,021 million in February 2023.

This increase was a result of increases across all major import categories as a result of the relaxation of import restrictions, normalisation of economic activities and loosening monetary conditions. 

The increase in expenditure on consumer goods imports in February 2024 compared to a  year ago was due to a broad-based increase in expenditure on both food and non-food consumer goods. 

Meanwhile, expenditure on intermediate goods imports increased driven by higher fuel and textile imports compared to February 2023.

 In contrast, expenditure on wheat imports decreasedsignificantly led by lower import volumes in February 2024. 

Expenditure on investment goods also recorded a broad-based increase, which was driven by machinery and equipment (mainly cranes) and building materials (mainly iron and steel). 

Meanwhile, expenditure on imports in February 2024 declined notably compared to January 2024, driven by lower expenditure on all categories of fuel, led by the availability of stocks and reduced demand.

 Earnings from tourism in February 2024 were estimated at US dollars 346 million, in comparison to the estimates of US dollars 342 million for the previous month and US dollars 162 million for February 2023.

 The major outflows from the services sector in February 2024 were mainly attributed to air transport, sea transport, and technical, trade-related and other business services.

Total services sector outflows were estimated at US dollars 193 million in February 2024, in comparison to US dollars 152 million in February 2023.