March 01, Colombo (LNW): Sri Lankan government has opted to keep fuel prices unchanged throughout the month of March 2024. As a result, the Ceylon Petroleum Corporation (CPC) has confirmed that fuel will be sold at existing prices for the duration of this month. The anticipated monthly price revision, initially scheduled for the night of the 29th, saw no adjustments, leaving fuel rates unaffected.
Notably, Lanka IOC and Sinopec are yet to announce any revisions to their fuel prices, adding an element of uncertainty to the market.
1. President Ranil Wickremesinghe has assured the prompt delivery of “Aswasuma” benefits to eligible recipients and highlighted the vital role of government officials in the effective distribution of “Aswasuma” and “Urumaya” benefits. He praised the dedication of Grama Niladhari Officers for their commitment to the successful implementation of these programs despite challenges.
2. Opposition Leader Sajith Premadasa stated that it is time to decide whether to continue being part of an assembly where its leader consistently violates the Constitution. Premadasa made this statement during a meeting held at Saranakara Maha Vidyalaya in Bingiriya. The comment suggests a critical assessment of the assembly’s leadership and its adherence to constitutional principles.
3. In a major development surrounding the supply of substandard human immuniglobulin, a RED NOTICE was issued for the arrest of Jayanath Buthpitiya, a member of the Evaluation Committee For Emergency Procurement, who also faces allegations over the medicine procurement scandal.
4. The newly appointed Inspector General of Police, Mr. T. M. W. Deshabandu Tennakoon, met with President Ranil Wickremesinghe at the Presidential Secretariat. In his capacity as the 36th Inspector General of Police in Sri Lanka, Mr. Deshabandu Tennakoon assumed his duties and had discussions with President Wickremesinghe.
5. The State Minister for Technology, Mr. Kanaka Herath, revealed plans for the introduction of the National Cyber Security Act this year, along with the establishment of the Cyber Security Authority. Furthermore, he emphasized the preparations for the Digital Economy Summit scheduled to be held in Sri Lanka by the end of July.
6. Purchasing Managers’ Index for Construction (PMI – Construction) showed an expansion in construction activities in January 2024, with a Total Activity Index recording a value of 52.9. This marks the first time since January 2022 that the index has surpassed the neutral threshold, indicating positive growth. Respondents noted the availability of new construction work, and some previously suspended projects resumed on a limited scale during the month.
7. The overall rate of inflation as measured by the Colombo Consumer Price Index (CCPI) on a Year-on-Year (Y-on-Y) basis, has further decreased to 5.9% in February, compared to the previous month. The CCPI-based inflation was calculated as 6.4% for the month of January 2024.
8. The Supreme Court quashed the Cabinet decision allowing former President Maithripala Sirisena to occupy his official residence at Paget Road in Colombo 07 even after he left office. Accordingly, the court stated that an order will be issued invalidating the Cabinet decision taken on 15 October 2019 in this regard.
9. Sri Lanka has entered into a nuclear security agreement with the United States aimed at detecting and preventing illicit trafficking of special nuclear and radioactive materials, addressing global security concerns. The Memorandum of Understanding (MoU) was signed by the Sri Lankan Navy and the US National Nuclear Security Administration at the Navy headquarters, witnessed by US Ambassador Julie Chung and Sri Lanka Navy Commander Vice Admiral Priyantha Perera.
10. An Age Group Artistic Swimming team will represent the Sri Lanka Aquatic Sports Union (SLASU) at the 11th Asian Age Group Championships to be held from March 2 to 6 in New Clarke City, Philippines. The participation is part of the larger contingent of a little over 100 athletes representing the national federation in swimming, diving, water polo and artistic swimming.
March 01, Colombo (LNW): The All Ceylon Poultry Product Manufacturers’ Association (ACPPMA) has voiced apprehensions regarding the import of eggs, stressing the need to redirect the substantial funds spent on imports towards the development of the local poultry industry.
ACPPMA President Ajith Gunasekara, in a statement to the Daily News, expressed concern about the significant foreign exchange outflow for importing eggs from India. He advocated for redirecting these substantial funds, running into millions of dollars, towards supporting the local poultry sector by establishing new farms. Gunasekara proposed collaborative efforts between the Agriculture Ministry and Local Government authorities to initiate poultry farms with the assistance of unemployed youth, leveraging available land, water resources, and favorable climatic conditions.
Gunasekara highlighted that such an investment could lead to a reduction in the current market prices of chicken, currently ranging between Rs.1,100 and Rs.1,250 per kilogram. He urged swift action to develop the local poultry industry, asserting that it would result in a significant decrease in both egg and chicken prices, especially during the upcoming New Year season.
Additionally, Gunasekara pointed out the increasing trend of individuals establishing poultry farms in their home gardens. He urged the government to support these initiatives by providing financial loans with low interest rates, encouraging the growth of small-scale poultry farming.
In response, Trade Minister Nalin Perera assured the public that necessary poultry food and medicine are readily available in the market at reasonable prices, aiming to alleviate concerns about potential shortages or price spikes.
March 01, Colombo (LNW): The Ministry of Health has initiated measures to enhance the training system for healthcare professionals. The introduction of the National Continuous Professional Development Programme (NCPDP) aims to bring the proficiency of the healthcare workforce to optimal levels, ensuring the delivery of regular, efficient, and quality health services in Sri Lanka.
The NCPDP will be executed by the Education, Training, and Research Division, under the guidance of Deputy Director General of the Ministry of Health, Dr. Samindi Samarakoon. The official launch ceremony took place at the National Blood Transfusion Centre Auditorium in Narahenpita, with Health and Industry Minister Dr. Ramesh Pathirana presiding over the event on the 28th.
With over 150,000 health professionals employed across 268 different categories in Sri Lanka’s health service, the primary objective of the NCPDP is to enhance their professional skills. This strategic training program is expected to contribute significantly to the improvement of patient care services and overall healthcare quality.
During the ceremony, Minister Pathirana awarded certificates to 64 health professionals, including doctors, nurses, and paramedics, who underwent registration and training in the Ministry of Health’s education, training, and research department. The Ministry plans to confer these certificates annually as a recognition of their commitment to continuous professional development.
Minister Pathirana emphasized that the NCPDP is the culmination of long-term efforts by the Health Ministry and aims to align healthcare professionals with international standards. The event witnessed the participation of key figures, including Secretary to the Health Ministry Dr. Palitha Mahipala, Additional Secretary Dr. Sunil De Alwis, Director General of Health Services Dr. Asela Gunawardena, and other high-ranking officials, hospital superintendents, provincial health service directors, specialist doctors, and nurses.
March 01, Colombo (LNW): In a concerning revelation, the National Sexually Transmitted Diseases and AIDS Prevention Programme has disclosed a significant 14.3% increase in reported new HIV infections. According to Director Dr. Janaki Vidanapathirana, the rise in cases is notably higher in 2023 when compared to the preceding year, 2022.
Dr. Vidanapathirana revealed that in 2023, a total of 694 new HIV cases were identified, marking a stark contrast to the previous year’s figures. The majority of these cases, constituting 88%, were found in men, numbering 611. Additionally, 81 cases involving HIV-infected women were reported, representing 11.7% of the total cases. The overall count of infected individuals in society has now reached 4,100, indicating a worrisome prevalence.
Medical experts emphasized that symptoms of the virus may take up to eight years to manifest. Stressing the importance of proactive measures, they recommended HIV testing, especially for individuals engaging in risky sexual behavior. Notably, the testing process has been simplified with the introduction of the Know4Sure app, allowing individuals to conduct the test in the comfort of their homes. Through this app, users can conveniently order the necessary test kit, which will be delivered directly to their doorstep. The initiative aims to enhance accessibility to testing and encourage early detection and intervention in the face of the escalating HIV infection rates.
March 01, Colombo (LNW): In a major breakthrough, Peradeniya University’s Mechanical and Electrical Engineering Department, led by Senior Professor Janaka Ekanayake, has successfully implemented a pioneering project that utilizes semi-transparent solar panels on tea plantations. Covering an area of 800 square meters within a tea estate near the Hanthana Research and Training Center, this initiative is set to generate approximately 100 megawatts of electricity annually.
The inauguration of Sri Lanka’s inaugural semi-transparent solar-powered agriculture-integrated pilot project took place on the 29th, under the auspices of State Minister Lohan Ratwatte and in collaboration with the Asian Development Bank (ADB), the Power and Energy Ministry (MOPE), and the Plantation Industries Ministry (MOPI). The ADB contributed a grant of US dollars 250,000 towards this groundbreaking venture.
Professor Janaka Ekanayake highlighted the global precedence of such projects, emphasizing that this marks Sri Lanka’s debut in implementing a venture of this nature. Beyond its significance in the realm of sustainable energy, the project aims to address challenges faced by the agriculture sector in a land-stressed country like Sri Lanka, contributing to both energy security and agricultural sustainability.
Exploring future possibilities, Professor Ekanayake revealed plans to extend the project to tomato and bell pepper cultivations, with ongoing experiments being conducted at Peradeniya University.
March 01, Colombo (LNW): A few showers may occur in Eastern and Uva provinces and in Polonnaruwa and Matale districts.
Showers or thundershowers may occur at a few places in Western and Sabaragamuwa provinces and in Galle, Matara and Nuwara-Eliya districts in the evening or night.
Fairly strong winds about (30-40) kmph can be expected at times in Northern, North-central, North-western, Uva and Eastern provinces and in Hambantota district.
The public is kindly requested to take adequate precautions to minimize the damages caused by temporary localized strong winds and lightning during thundershowers.
February 29, Colombo (LNW): The Sri Lankan Rupee (LKR) further indicates slight appreciation against the US Dollar today (29) in comparison to yesterday, as per the official exchange rates of the Central Bank of Sri Lanka (CBSL).
Accordingly, the buying price of the US Dollar has dropped to Rs. 305.16 from Rs. 305.56, and the selling price to Rs. 314.87 from Rs. 315.29.
The Sri Lankan Rupee has also appreciated against several other foreign currencies.
February 29, Colombo (LNW): The Indian government is working on operationalizing Rupee investments in Sri Lanka in a move to boost Indian investments in its southern neighbour, official sources said.
Rupee investments will ease the way for Indian firms to enter the Sri Lankan markets, a senior official said, speaking under the condition of anonymity.
During FY 2023, the Reserve Bank of India (RBI) allowed invoicing and payments for international trade in the Indian Rupee
This allowed exports and imports to be denominated and invoiced in Indian rupees, with the settlement of trade transactions taking place in the currency, Indian news web live mint reported.
The RBI’s decision is aimed at promoting the growth of global trade, especially Indian exports, apart from systematically internationalizing the currency. India wants the Indian Rupee to be a hard currency in the future, it said.
Last year, Sri Lanka notified the Indian Rupee as a designated currency, which enabled trade between the two countries to be settled in the currency and also allowed tourists visiting the island-nation to use the currency for transactions.
India now hopes to work with Sri Lankan to make it easier for Indian firms to invest in the island nation.
“At present, Indian investors invest in the country through international currencies like the dollar, which is more cumbersome and involves conversion costs,”a high official said.
“Rupee investments will ease the way for Indian firms to enter the Sri Lankan markets. The ministry of external affairs (MEA), in particular, is learnt to be pushing for this change,” he added.
Spokespersons of India’s MEA, finance ministry and the Reserve Bank of India (RBI) didn’t respond to emailed queries.
India is a key partner of Sri Lanka, playing a pivotal role in its recovery from the economic crisis that started in 2019 and threatened to derail the economy of the South Asian nation.
The crisis that peaked in 2022-23 saw spiralling inflation, emptying of foreign exchange reserves, and shortages of basic commodities.
While the IMF extended assistance of $3 billion, India gave an assistance of over $4 billion to Sri Lanka aiding its economic recovery.
India’s financial assistance included credit lines, a currency swap arrangement and deferred import payments.
India and Sri Lanka also unveiled a slew of connectivity initiatives during President Ranil Wickremesinghe’s visit to India last July. These include proposals for a petroleum pipeline, power grid linkages, a land bridge and a comprehensive Economic and Technology Cooperation Agreement (ETCA).
Mint reported that the ETCA deal is expected to be finalized in FY25, with negotiations in advanced stages.
“Pushing for rupee investments will also aid Indian firms, which have made high-profile investments in Sri Lanka,” senior official said.
February 29, Colombo (LNW): Sri Lanka-headquartered Elephant House to manufacture, market, distribute and sell beverages in Indian market in collaboration with India.Reliance Consumer Products Limited (RCPL), the FMCG arm and wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL),
This partnership will not only help RCPL bolster its growing beverage portfolio that boasts iconic brands such as Campa, Sosyo and Raskik but will also bring exceptional new products and value propositions to Indian consumers.
Elephant House is owned by Ceylon Cold Stores PLC, a subsidiary of John Keells Holdings PLC, Sri Lanka’s largest listed conglomerate. Under the Elephant House brand, it manufactures and sells a wide range of beverages including Necto, Cream Soda, EGB (Ginger Beer), Orange Barley and Lemonade to name a few.
Speaking on the partnership, Ketan Mody, COO, Reliance Consumer Products Limited, said, “Elephant House, which enjoys strong market credibility, is an iconic brand with deep-rooted heritage.
This partnership will not only add its much-loved beverages to our growing FMCG portfolio but will also offer our Indian consumers great choice and value proposition through quality products.
Being the custodian of several renowned global brands in India, Reliance is well-equipped to further expand Elephant House’s established consumer brand, which has been built over 150 years.”
Krishan Balendra, Chairperson of the John Keells Group, said, “We are proud to announce the expansion of the Elephant House brand to the Indian market.
He noted that their partnership with Reliance Consumer Products Limited marks a significant milestone in the journey of our heritage brand and represents John Keells commitment to delivering our high-quality beverages to new consumer segments.
We look forward to the opportunity this partnership brings, to provide refreshing and innovative beverage options to meet the diverse preferences of Indian consumers., “he added.”
The agreement between RCPL and Elephant House underscores a shared commitment to excellence and innovation, empowering both organizations to capitalize on synergies and amplify their market presence.
RCPL’s vision is to offer Indian consumers a wide portfolio of globally recognized brands and products that stand out for their exceptional quality and value. In addition, RCPL is rapidly scaling up its multi-channel operations to reach more consumers across diverse markets.
The company, currently, boasts a versatile FMCG portfolio comprising iconic beverage brands including Campa and Sosyo Hajoori, an extensive confectionery range from Lotus Chocolates, Toffeeman and snacks such as Alan’s Bugles and Masti Oye apart from Sri Lanka’s leading biscuit brand Maliban, and staples & daily convenience products under the Independence brand.
In home and personal care, it has products such as dishwashing liquids, laundry detergent, soaps and toilet cleaners.
