March 02, Colombo (LNW): The United Nations Population Fund (UNFPA) Sri Lanka and the University of Colombo marked a historic collaboration on Friday (01) by signing a Memorandum of Understanding (MoU) to establish the first-of-its-kind Centre of Excellence (CoE) for Gender Equality and Women’s Empowerment (GEWE) in the Asia Pacific region.

The MoU formalizes the partnership between UNFPA Sri Lanka and the University of Colombo, emphasizing UNFPA’s dedication to fostering thought leadership, knowledge creation, and innovation in Sri Lanka. The Centre of Excellence will serve as a hub for advancing gender equality and empowering women through research, education, and advocacy initiatives.

In a related ceremony, Pio Smith, UNFPA Asia Pacific Regional Director, and Kotaro Katsuki, Acting Ambassador of the Embassy of Japan, presented medical supplies valued at over USD 2.1 million to Dr. Ramesh Pathirana, Minister of Health at the Ministry of Health.

The donation, part of the “ENSURE: Ensuring access to life-saving sexual & reproductive health and providing gender-based violence prevention and response services for women, girls, and vulnerable groups” project, is funded by the Government of Japan. The overall project, totaling USD 4.6 million, aims to address the economic crisis in Sri Lanka and support women in vulnerable communities by providing essential health services and gender-based violence prevention and response initiatives.

March 02, Colombo (LNW): The Natural Hazards Early Warning Center of the Department of Meteorology in Sri Lanka has issued a cautionary warning regarding the Heat Index, indicating that the temperature felt on the human body is expected to increase to ‘Caution’ levels in specific regions. The affected areas include North-western, Western, Southern, and Sabaragamuwa provinces, as well as Mannar District.

Heat index Advisory Issued by the Natural Hazards Early Warning Centre at 03.30 p.m. 01 March 2024, valid for 02 March 2024

The Heat Index Forecast is determined by considering relative humidity and maximum temperature, providing an assessment of the conditions felt by the human body. It’s important to note that this forecast is not indicative of the maximum temperature but rather the impact on individuals.

The advisory includes information on the potential effects of the heat index on the human body, and it has been formulated in collaboration with the Ministry of Health and Indigenous Medical Services.

Residents and individuals in the mentioned provinces and district are urged to take precautions and stay informed about the heat conditions. It is advisable to follow guidelines provided by health authorities to ensure the well-being of the public during elevated heat index periods.

March 02, Colombo (LNW): Hon. Kalaveti Vodo Ravu, the Minister of Fisheries and Agriculture of Fiji Islands, visited the Parliament of Sri Lanka, during his participation in the 37th session of the Asia Pacific Regional Conference (APRC) of the Food and Agriculture Organization of the United Nations in Colombo.

During his visit, the Fijian Minister met with Deputy Speaker Hon. Ajith Rajapakse, Secretary General of Parliament Mrs. Kushani Rohandeera, and Chief of Staff and Deputy Secretary General Mr. Chaminda Kularatne. The discussions centered around the prospect of enhancing bilateral relations between the two nations in the fields of agriculture and fisheries.

Expressing mutual interest in strengthening ties, the Minister highlighted the potential for collaboration in key sectors. The visit also included a meeting with former President and Member of Parliament Hon. Mahinda Rajapakse, further emphasizing the diplomatic engagement between Fiji and Sri Lanka.

As part of the visit, the Fijian delegation had the opportunity to tour the Parliament premises and observe a parliamentary debate from the Speakers Gallery. The Deputy Speaker officially welcomed the delegation, acknowledging their presence in the house.

This parliamentary interaction serves as a valuable step in fostering diplomatic relations and exploring avenues for cooperation in areas of common interest, contributing to the development and collaboration between Fiji and Sri Lanka.

March 02, Colombo (LNW): The Russian Pacific Fleet’s flagship, the Guards Order of Nakhimov missile cruiser Varyag, has arrived at the port of Colombo in Sri Lanka, as reported by the Fleet’s press office on Friday. The Sri Lanka Navy extended a traditional welcome to the 187-meter-long missile cruiser and its crew of 529 members.

Captain 1st Rank Velichko Anatoly Vasicievich serves as the Flag Officer of the ship, while Captain 2nd Rank Glushakov Roman Nikolaevich is the Commanding Officer. The officers are scheduled to call on Rear Admiral Saman Perera, the Commander Western Naval Area during their stay.

Throughout their visit to Sri Lanka, the crew members of the Varyag are expected to participate in various programs organized by the Sri Lanka Navy, fostering camaraderie and exploring the country’s tourist attractions.

The port call provides an opportunity for the Russian naval ship to replenish water and fuel supplies. The ship’s welcome ceremony was attended by the staff of the Russian embassy in Sri Lanka, officers from the host country’s naval forces, and personnel from the port services.

The Varyag is scheduled to stay at the Colombo port until March 4, after which it will resume its assigned missions as part of its long-distance deployment, according to the press office statement. This visit strengthens diplomatic and naval ties between Russia and Sri Lanka, emphasizing the importance of international cooperation and collaboration in the maritime domain.

March 02, Colombo (LNW): The Department of Examinations has released the official dates for crucial school examinations scheduled to take place in 2024. The announcement encompasses the 2024 G.C.E. Advanced Level (A/L), the 2023 G.C.E. Ordinary Level (O/L), and the 2024 Grade 05 scholarship examinations.

Here are the specified dates:

• 2023 G.C.E. O/L Exam: Scheduled to take place from May 06 to May 15, 2024.
• 2024 Grade 05 Scholarship Exam: Set for September 15, 2024.
• 2024 G.C.E. A/L Exam: Slated to be held from November 25 to December 20, 2024.

This information serves as a crucial guide for students, parents, and educators as they prepare for the upcoming academic assessments. The Commissioner General of Examinations, Amith Jayasundara, emphasized the importance of adhering to these dates, providing clarity and ensuring a smooth and organized examination process for all participants.

March 02, Colombo (LNW): In a positive turn of events, Sri Lanka’s tourism sector experienced a remarkable boost in January 2024, with earnings reaching an estimated USD 342 million, as revealed by the Central Bank’s latest report on external sector performance. This marks the highest monthly value since January 2020, showcasing a significant improvement from USD 269 million in December 2023 and USD 154 million in January 2023.

The country witnessed a surge in tourist arrivals, with 208,253 visitors in January 2024 compared to 102,545 in the corresponding period of the previous year. This encouraging trend signals a positive trajectory for Sri Lanka’s tourism industry.

Additionally, workers’ remittances showed positive growth, amounting to USD 488 million in January 2024, compared to USD 437 million in January 2023 and USD 570 million in December 2023. The Central Bank noted that workers’ remittances have been steadily increasing since 2022, indicating a robust and consistent trend despite intermittent seasonal fluctuations.

The report also highlighted a marginal decline of 0.8% in earnings from merchandise exports, reaching USD 971 million in January 2024 compared to USD 978 million in the same month last year. Meanwhile, expenditure on merchandise imports increased by 6.2% to USD 1,512 million in January 2024, attributed in part to the relaxation of import restrictions and a rise in expenditure on consumer and investment goods.

On the financial front, the gross official reserves (GOR) continued to improve, reaching USD 4.5 billion by the end of January 2024. This positive trajectory is credited to substantial net purchases of foreign exchange from the domestic market by the Central Bank, with a net purchase of USD 245 million during January 2024. The report emphasized that this improvement includes a swap facility from the People’s Bank of China (PBOC), valued at around USD 1.4 billion, subject to certain conditions on usability. Overall, these developments indicate positive economic momentum and financial stability for Sri Lanka in the early months of 2024.

Union Assurance, Sri Lanka’s premier Life Insurer known for its commitment to excellence and customer-centric approach, proudly announces the declaration of a 13.5% Universal Life Policyholder Dividend Rate for the financial year 2023. Once again, the Company has demonstrated its financial strength and resilience by surpassing expectations with this remarkable Dividend Rate of 13.5%, compared to the minimum guaranteed Dividend Rate of 10% for the year 2023. This achievement not only underscores the Company’s robust performance but also reaffirms its position as a trustworthy partner that maximises value for customers and shareholders alike.

The Chief Executive Officer of Union Assurance, Senath Jayatilake, stated, “We are delighted to announce an exceptional Dividend Rate, surpassing our guaranteed rate for 2023, which is a clear testimony to our commitment to delivering optimal value to our stakeholders. Notably, this marks the highest Dividend Rate declared in the past decade, underscoring our sustained progress over the years, even in the face of formidable external challenges.”

“Furthermore, this significant dividend payout directly contributes to the growth of our customers’ Life Fund, which reached a valuation of Rs. 64,510 Mn by the end of 2023, thereby enhancing their financial security. We extend our heartfelt gratitude to our customers and stakeholders for the trust they have placed in us,” he further stated.

The Chief Financial Officer of Union Assurance, Asha Perera, stated, “The declaration of a 13.5% Dividend Rate for 2023 is based on Union Assurance’s sound financial management and prudent investment strategies. Our disciplined approach and our ability to adapt to changing market dynamics while maintaining a focus on long-term value creation have been instrumental in our success. We remain committed to delivering superlative returns and value to all our stakeholders, ensuring continued confidence in Union Assurance.”

Union Assurance is a subsidiary of the John Keells Group, one of Sri Lanka’s largest listed conglomerates. The Company has completed over three decades of success with a Market Capitalisation of Rs. 23.6 Bn, and a Life Fund of Rs. 64.5 Bn as of end December 2023. Set to protect lives and enrich the well-being of all Sri Lankans, Union Assurance offers Life Insurance solutions that cover the health, investment, protection, retirement, and education needs of Sri Lankans. With an island-wide branch network and a workforce that is over 4,000-strong, Union Assurance continues to invest in people, products, and processes with a customer-centric focus to be responsive to emerging changes in the Life Insurance industry.

1. President Ranil Wickremesinghe says Sri Lanka Navy is entrusted with the responsibility of safeguarding Sri Lanka’s oceanic territories, including the Indian Ocean region. He underscored that the nation’s economic initiatives will not be permitted to suffer any harm in the Indian Ocean. President Wickremesinghe made these remarks while delivering a speech at the Presidential Fleet Review of the Sri Lanka Navy held at the Trincomalee Harbour.

2. Retired Lieutenant Colonel Rathnapriya Bandu has extended his support to the main Opposition, Samagi Jana Balawegaya. Premadasa has appointed Retired Lieutenant Colonel Rathnapriya Bandu as the head of the SJB’s Committee for national unity, peace and harmony at home and abroad. 

3. Finance Ministry unveiled the Government Action Plan, crafted from the Governance Diagnostic Assessment (GDA) provided by the International Monetary Fund (IMF). Finance State Minister Shehan Semasinghe, in a statement on his X handle, emphasized that this plan underscores the Sri Lankan government’s dedication to fostering a sustainable economy and promoting good governance within the country.

4. Sri Lanka’s earnings from tourism were estimated at USD 342 million in January 2024, the Central Bank’s latest report on external sector performance revealed. This is the highest monthly value the country has witnessed since January 2020.

5. The Department of Examinations has released the examination dates for various competitive school exams in 2024. The 2023 G.C.E. Ordinary Level (O/L) exam is scheduled to take place from May 06 to May 15, 2024. The Grade 05 scholarship exam for 2024 is set for September 15, 2024. Lastly, the 2024 G.C.E. Advanced Level (A/L) exam is planned to be held from November 25 to December 20, 2024, according to the announcement from the Department of Examinations.

6. Expolanka Holdings PLC, the largest listed company in the Colombo Stock Exchange (CSE) according to the Market Capitalization, has decided to de-list the company’s shares from the Official List of the CSE.

7. The Sapugaskanda Oil Refinery will cease operations for 45 days in early July 2024, more than 03 years since the previous turnaround (TAR) in February 2021, the Ceylon Petroleum Corporation (CPC) announced.

8. Parliament has decided to call Central Bank officials to a parliamentary inquiry concerning salary adjustments. The officials are scheduled to appear next Tuesday(05) at 10:30 am. The session aims to address queries from parliamentarians regarding salary increments and seek clarifications on related matters.

9. A writ petition has been filed before the Court of Appeal seeking that an order be issued to the IGP and other respondents to take legal action against the former Chief of the State Intelligence Service, Senior DIG Nilantha Jayawardena over failure to prevent 2019 Easter Sunday terror attacks, despite receiving intelligence information. The petition was filed by the Centre for Society and Religion (CSR), its director Rev. Fr. Jude Vernon Rohan Silva and a victim of Easter attacks named Devage Surach Nilanga.

10. Sri Lanka wicketkeeper-batter Kusal Janith Perera has been ruled out of the upcoming three-match T20I series against Bangladesh due to a “respiratory infection”. Sri Lanka Cricket (SLC) have announced Niroshan Dickwella as Perera’s replacement.

March 02, Colombo (LNW): Justice, Prison Affairs, and Constitutional Reforms Minister Dr. Wijeyadasa Rajapakshe, PC, marked the opening ceremony of the Pannipitiya, Depanama, Mahawatta Road development, part of the ambitious 1,500-kilometer road reconstruction project for the year 2024, on Thursday (29).

Responding to media queries about the Speaker’s decision on appointing a new Inspector General of Police (IGP), Minister Rajapakshe highlighted that despite the constitutional amendment and the appointment of 10 members to the Legislative Council, the absence of a designated representative for minor parties is causing the delay. He noted that the Speaker faces a practical challenge in this matter and suggested seeking legal interpretations from the Supreme Court if any concerns arise.

Minister Rajapakshe further addressed the economic challenges faced in the past three years, attributing them to the Easter attack, the Covid-19 pandemic, and an overall economic crisis. Despite these obstacles, he commended the current President’s leadership for revitalizing development activities within a short period.

He emphasized the need to focus on the agricultural and industrial sectors for the country’s economic growth. The Minister highlighted the introduction of a loan scheme for small and medium enterprises and announced the commencement of road development covering 1,500 kilometers across the nation under the Highways and Road Development Ministry.

Looking ahead, Minister Rajapakshe assured the residents of the Maharagama constituency that numerous roads would undergo renovation in the future. The event saw the participation of former Municipal Councillors of Maharagama Municipal Council, officials from the Road Development Authority, and local residents, underscoring the collaborative effort toward national development.

March 02, Colombo (LNW): The Finance Ministry of Sri Lanka released the Government Action Plan based on the recommendations of the recently concluded Governance Diagnostic Assessment (GDA) conducted by the International Monetary Fund (IMF). The GDA was initiated at the request of Sri Lanka, making it the first country in Asia to undergo this comprehensive exercise.

State Finance Minister Shehan Semasinghe announced this significant development, emphasizing the commitment of the Sri Lankan government to fostering a sustainable economy and good governance. The release of the Government Action Plan precedes the upcoming visit of an IMF team for the second review of the Extended Fund Facility (EFF) program, scheduled to commence on March 7.

The Government Action Plan outlines tasks aimed at fulfilling the 15 Reform Commitments set by the IMF through relevant state institutions. The IMF has provided completion dates for each commitment, including ongoing implementations with regular updates.

According to the plan, two Reform Commitments outlined in the GDA have already been successfully completed on time, with others nearing the implementation stage. The government is actively working on reforms assigned to state institutions and ministries to ensure the timely and efficient implementation of IMF recommendations for the country’s development.

One notable achievement highlighted in the plan is the full implementation of the reform commitment under the 21st Amendment to the Constitution. This involves the development of rules by the Constitutional Council for appointing Commissioners to the Commission to Investigate Allegations of Bribery or Corruption (CIABOC). The rules aim to establish an open and transparent process to ensure selected candidates meet high standards of professionalism, ethical conduct, and integrity.

Additionally, the Ministry of Finance has successfully completed another IMF reform commitment, requiring the publication of information on a designated website. This includes details on all public procurement contracts above LKR 1 billion, firms receiving tax exemptions through the Board of Investment and the SDP, and firms receiving tax exemptions on luxury vehicle imports. The Ministry pledges to provide semiannual updates for these details, ensuring transparency and accountability in economic practices.