The Sri Lankan construction industry is expected to register an average annual growth of 5.9% from 2024 to 2026, supported by investment in transport, renewable energy, housing, industrial zone, and tourism projects, finance ministry sources revealed .
The construction industry in Sri Lanka is expected to contract by 7% in real terms in 2022/2023 -down from GlobalData’s prior estimate of a 4.6% decline.
True to this finance ministry projection, Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) computed by the Central Bank indicates an expansion in construction activities in February 2024, as reflected by the Total Activity Index,which recorded an index value of 57.1.
Many firms attributed the growth in construction activities to the current conducive environment and the resumption of several temporarily suspended projects.
New Orders continued to increase for the second consecutive month, reflecting the improved demand conditions in the industry.
The respondents mentioned that large-scale infrastructure projects, particularly foreign-funded ones, are also among the available tender opportunities.
However, Employment remained contracted in February,yet at a slower rate than the previous month.
Several survey respondents cautioned about the shortage of skilled and experienced construction workers.
Further, Quantity of Purchases improved due to the increased pipeline projects. The price levels of construction materials denoted a downward adjustment during the month. Meanwhile, Suppliers’ Delivery Time further lengthened in February
The National Construction Association of Sri Lanka reported that activity in the construction industry had collapsed, with 90% of work across the country coming to a standstill, mainly due to the shortage of cement, iron, and other raw materials; this is expected to result in a possible loss of 75% of the industry’s workforce.
The association also reported that more than 1,000 building material suppliers had suspended operations, amid the unavailability of construction materials.
According to the Ministry of Finance, the total cement production in the country fell by 21.5% year-on-year (YoY) in 2023, while the total cement imports fell by 38.7% YoY over the same period.
To encourage foreign investment, the government appointed a committee to establish an investment promotion agency, by bringing the Board of Investment (BOI), the Export Development Board (EDB), and the Sri Lanka Export Credit Insurance Corporation (SLECIC) together onto one platform
March 30, Colombo (LNW):The China Quality Certification Center and the Sri Lanka Bureau of Standards signed a Memorandum of Understanding on Friday on mutual recognition of conformity assessment results at a ceremony held in Shanghai.
Prime Minister of Sri Lanka Dinesh Gunawardena,, hailed the signing of the agreement as a milestone in China-Sri Lanka cooperation, facilitated by the two countries’ joint efforts to establish closer ties.
It will help promote mutual recognition of quality certification systems between the two nations, providing more convenient services for bilateral trade and investment, said Gunawardena.
“This will elevate product quality and competitiveness in both nations, fostering economic prosperity while deepening friendship and welfare for our peoples,” he added.
The prime minister also awarded Du Chao, general manager of Hualan Inspection Company Sri Lanka, as ambassador for investment promotion.
Xie Zhaoxu, CQC managing director, said that conformity assessment plays a crucial role in quality management and trade facilitation for Sino-Sri Lanka economic and trade cooperation.
“This cooperation signifies a deepening of our conformity assessment collaboration which will further smooth technical exchanges and economic and trade flows between our two countries,” Xie said, adding that CQC is committed to facilitating international trade through certification, inspection and other professional services.
Witnessed by the prime minister, an unveiling ceremony also took place to inaugurate the Anhui Chamber of Commerce in Sri Lanka.
Li Ping, chairman of the chamber, said it aims to promote bilateral cooperation as more people from Anhui province work and live in Sri Lanka, actively contributing to its socio-economic development.
The signing of nine new agreements between China and Sri Lanka took place today (26.03.2024) under the patronage of Chinese Prime Minister Li Qiang and Prime Minister Dinesh Gunawardena.
The Prime Minister today paid floral tributes to the martyred war heroes at the Monument to the People’s Heroes at Tiananmen Square, and after receiving the guard of honour from the Chinese military, bilateral discussions were commenced.
Later, in the bilateral talks held in Great Hall in Beijing, more attention was paid to increasing overall cooperation in the social, cultural, educational, and agricultural sectors in addition to economic cooperation.
The Prime Ministers of the two countries confirmed that a new chapter in the long-term friendship and cooperation between Sri Lanka and China will begin through the nine memoranda of understanding signed between the two countries.
Secretary to the Prime Minister Anura Dissanayake signed the agreements on behalf of Sri Lanka, and the secretaries of nine ministries signed on behalf of China.
A group including Ministers of the People’s Republic of China, Sri Lankan State Ministers Shehan Semasinghe and Ashoka Priyantha, and MP Yadamini Gunawardena participated in this event
29th March 2024, Colombo – This Ramadan, Harbour Court at The Kingsbury extends a warm invitation to patrons to partake in the spirit of the holy month through its exclusive offering, “Iftar at the Court.” This celebration of tradition, flavour, and togetherness promises an unparalleled dining experience that will engage all senses.
From the moment guests step into Harbour Court, they are greeted by the inviting aromas emanating from the thoughtfully crafted Iftar spread and Ramadan Buffet. Drawing inspiration from Arabian cuisine and paying homage to the rich culinary heritage of Ramadan, the menu is meticulously designed to offer a memorable gastronomic journey.
Breaking fast at Harbour Court entails savouring a selection of succulent dates, refreshing Falooda or Mixed Fruit Juice, traditional Ramadan snacks, and enticing appetisers. Guests are then treated to an array of mouth-watering biryanis, flavourful rice dishes, comforting soups, and aromatic grilled meats from the BBQ action station. Each dish is complemented by a variety of accompaniments and condiments, enhancing every bite. The evening culminates with a delectable assortment of Arabian Ramadan-themed desserts, providing the perfect conclusion to the dining experience.
At Harbour Court, the belief is that Iftar transcends mere feasting; it is a moment for fostering community, compassion, and connection. This ethos is reflected in the Iftar Buffet, which serves as an opportunity for guests to gather with loved ones, neighbours, and friends, and to celebrate the blessings of Ramadan in a welcoming environment.
Priced at just LKR 7,500 nett per person, patrons are invited to join Harbour Court throughout Ramadan, starting from 6:00 p.m. onwards, for an unforgettable Iftar followed by a tantalising buffet experience. Reservations are now open, offering guests the chance to embark on a journey filled with tradition, flavour, and joy throughout this holy month.
For bookings and inquiries, please contact +94 112 421 221.
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The Kingsbury Colombo is the most iconic five-star hotel in the city. With 229 rooms and suites, the hotel is located in the heart of the bustling city of Colombo with easy access to business centers, shopping malls and entertainment hubs. The Kingsbury offers an unparalleled dining experience with 9 restaurants and bars that will leave you spoilt for choice. The hotel also provides the ideal backdrop for your wedding, meeting or conference with 3 stunning ballrooms and two meeting spaces. The hotel also provides a large swimming pool overlooking the ocean, fully-fledged spa, business center, and a well-equipped fitness room.
Ambassador Chandana Weerasena presented his Letters of Credence to His Majesty King Philippe, the King of Belgians as the Sri Lanka Ambassador Extraordinary and Plenipotentiary to the Kingdom of Belgium at the Royal Palace of Laeken in Brussels on 27 March 2024.
The presentation of credentials was followed by a private audience with His Majesty the King at his invitation.
The Ambassador conveyed greetings and best wishes from President Ranil Wickremesinghe to His Majesty the King Philippe at the private audience. The Ambassador also emphasised his desire to bring the Sri Lanka-Belgium bilateral relations to further high during his tenure and his commitment to work closely with the Kingdom of Belgium.
His Majesty the King reciprocated the warm greetings to the President and the People of Sri Lanka. During the audience, a number of topics were discussed which are bilaterally and geopolitically interested to both countries.
Ambassador Weerasena is the 17th Sri Lankan Ambassador appointed to the Kingdom of Belgium, during the diplomatic relations of the two countries, since 1968. He is a career diplomat who had joined the Sri Lanka Foreign Service in 2003.
Prior to this appointment, Ambassador Weerasena was Director General/Economic Affairs (Bilateral) of the Ministry of Foreign Affairs. He has also previously served as the Deputy Chief of Mission/Sri Lanka Embassy, Tokyo and has hold a number of other diplomatic ranks in Sri Lanka High Commission in Canberra, Sri Lanka Embassy in Tokyo and Sri Lanka High Commission in New Delhi. Ambassador Weerasena possesses two Masters Degrees from the Australian National University in Australia; ‘Master of Diplomacy’ & ‘Master of Asia Pacific Studies’. He graduated from the University of Sri Jayewardenepura, Sri Lanka with a ‘Bachelor of Commerce’ degree and a past student of Ampitiya Berrewaerts College, Kandy.
March 30, Colombo (LNW): 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.
Speaking at the 125th anniversary celebration of the Sinhalese Sports Club (SSC) at the Shangri-La Hotel Colombo yesterday (28), the President 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.
During the celebration, a commemorative book documenting the 125-year history of the Sinhalese Sports Club was unveiled, accompanied by the release of a postage stamp and a first-day cover.
President Ranil Wickremesinghe took the opportunity to commend SSC players who had represented Sri Lanka in international cricket, expressing appreciation for their contributions. The President also joined in a group photograph with the players, symbolizing unity and camaraderie within the sporting community.
Addressing the gathering, President Ranil Wickremesinghe underscored the enduring bonds between esteemed educational institutions such as Royal, St. Thomas’, Wesley and the Sinhalese Sports Club. He noted that individuals who have pursued cricket from these schools have established a shared identity with the Sinhalese Sports Club.
Drawing from personal history, President Wickremesinghe shared anecdotes about his own family’s association with the club. He mentioned his great-grandfather Meedeniya Adigar and grandfather C.L. Wickremesinghe, both of whom had joined the SSC as a means to embrace and promote a unified Sri Lankan identity. Following their footsteps, President Wickremesinghe revealed that his father had also become a member of the club after the country gained independence.
The President reflected on the historical context of the formation of sports clubs during a bygone era, highlighting their significance in fostering a sense of collective identity among different ethnic communities in Sri Lanka. He noted that clubs such as the Tamil Union and those established by the Malays served as platforms for various groups to assert their cultural and linguistic identity, rather than being rooted in ethnic strife or competition.
Emphasizing the inclusive nature of these clubs, President Ranil Wickremesinghe remarked that they were not defined by religious or caste divisions, but rather by shared language and culture. He underscored how these clubs facilitated the coming together of Sinhalese, Tamils and Malays, ultimately contributing to the development of a common national identity.
President Wickremesinghe also acknowledged the esteemed leaders of his party who had served as presidents of the Sinhalese Sports Club, including former Prime Minister D.S. Senanayake and former President J.R. Jayewardene. He expressed gratitude for their contributions and the honour it bestowed upon the party. While he himself had been a member of the sports club, the President revealed that he had chosen to step back from active involvement as a politician, recognizing the evolving nature of contemporary politics compared to the eras of Mr. D. S. Senanayake and Mr. J.R. Jayewardene.
President Wickremesinghe articulated his belief in the importance of maintaining a clear distinction between politics and sports, advocating for the exclusion of politicians from high-ranking positions within sports clubs. He emphasized the necessity of preserving the integrity and independence of sports from political influence, recognizing that this separation would contribute to a healthier sporting environment.
However, the President clarified that this stance did not signify a disengagement from sports. On the contrary, he assured the audience of his continued commitment to supporting sports initiatives and meeting the needs of athletes and sports enthusiasts.
Acknowledging the significance of upholding the traditions established by past leaders, he underscored the importance of nurturing and advancing sporting activities in the country. To demonstrate his commitment to fostering sports development, President Ranil Wickremesinghe revealed that he has instructed the Minister of Sports to present a Memorandum to the Cabinet, with a proposal to provide the land belonging to the Sinhala Sports Club on a 99-year lease basis, thereby ensuring the continuity and sustainability of the club’s operations and activities.
President Wickremesinghe underscored the importance of advancing Sri Lankan cricket, expressing his ambition to witness the nation reclaim its championship status in the sport. He highlighted that the government has earmarked One billion rupees for cricket development this year, with plans for additional funding in the following year. This substantial investment will be managed by a trust overseen by Sidath Wettamuni, a distinguished cricketer and a member of the SSC. The funds will be utilized to enhance cricket programs in rural schools, organize cricket matches and foster the growth of cricket at the grassroots level.
The President emphasized the importance of expanding cricket programs in 1000-1500 schools, aiming to cultivate a vast talent pool from which the national team can be selected. Additionally, concerted efforts have been made to elevate the standard of cricket across the country. In this regard, both the Cricket Board and sports clubs play a pivotal role. Furthermore, the President expressed gratitude to the Sinhala Sports Club for its significant contribution to cricket in Sri Lanka, urging collective action to propel the nation towards global leadership in the sport.
Professor Maithree Wickramasinghe, Minister of Tourism, Lands, Sports and Youth Affairs Harin Fernando, along with notable figures such as Chairman of Sri Lanka Cricket Association Shammi Silva, Chairman of Sinhalese Sports Club Indunil De Silva, Secretary Wasantha Wijesekera, Treasurer Nilanka Peiris and members of the executive committee of the Sinhalese Sports Club graced the occasion. The event also saw the presence of former presidents, distinguished past and present cricketers, including former captain of the England cricket team Nasser Hussain and ICC referee Ranjan Madugalle, among other esteemed guests.
March 30, Colombo (LNW): The Consumer Affairs Authority (CAA) has decided to withdraw the Gazette issued in 2008, which prohibited traders from charging consumers for single-use polythene bags provided during purchases. This decision was conveyed to the Supreme Court of Sri Lanka by the Attorney General on Thursday.
The Gazette had faced a legal challenge through a Fundamental Rights (FR) petition filed by the Centre for Environmental Justice. The petition sought directives to minimize the manufacturing, distribution, and use of single-use polythene bags, citing their detrimental environmental impact.
Following an agreement between the petitioners and the authorities, the hearing of the petition concluded yesterday, marking a resolution to the legal dispute.
The withdrawal of the Gazette signals a significant development in the regulation of single-use plastics and underscores ongoing efforts to address environmental concerns associated with their usage.
March 30, Colombo (LNW): In a significant development, an agreement has been reached to foster a robust relationship between Shanghai, the leading global port city, and the burgeoning maritime hubs of Colombo and Hambantota in Sri Lanka. The accord was reached during a discussion between Sri Lankan Prime Minister Dinesh Gunawardena and Shanghai’s Mayor, Gong Seng, in Shanghai, China, on March 29.
Prime Minister Gunawardena highlighted the longstanding Sister City Agreement between Colombo and Shanghai, emphasizing the need to revitalize and expand upon this agreement. Notably, the initial agreement was signed during the tenure of his brother, Prasanna Gunawardena, as Mayor.
During the discussion, the Prime Minister underscored Shanghai’s unparalleled expertise in cargo transportation, handling a staggering 49.5 million containers last year, thus ranking first globally. Sri Lanka stands to benefit immensely from Shanghai’s experiences and insights in this crucial sector.
The Mayor of Shanghai reaffirmed the city’s commitment to sharing its wealth of knowledge and experiences, given its status as a premier business and financial center with an annual production income of 4.72 trillion Yuan. Moreover, Shanghai extended an invitation for Sri Lankan officials to visit and study various fields, including urban development.
Recognizing Shanghai’s remarkable progress in planned urban development, despite its massive population of 25 million people, Prime Minister Gunawardena stressed the invaluable lessons Sri Lanka could glean from Shanghai’s achievements in this realm.
In addition to cooperation in cargo transportation and urban development, the Mayor of Shanghai expressed support for Sri Lanka across various sectors and extended an invitation for officials to explore opportunities in Shanghai firsthand.
Moreover, both parties agreed to explore the possibility of increasing flights between Colombo and Shanghai to accommodate the growing interest of Chinese tourists in visiting Sri Lanka, renowned for its UNESCO heritage sites.
State Ministers Shehan Samesinhe and Ashoka Priyantha, along with Secretary to the Prime Minister Anura Dissanayake, were part of the Sri Lankan delegation participating in the discussions, underscoring the government’s commitment to fostering closer ties with Shanghai and leveraging its expertise for the benefit of Sri Lanka’s development and progress.
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.
