Home Blog Page 999

Houthi terrorists damage underwater cables in Red sea linking Europe to Asia

0

By: Staff Writer

February 28, Colombo (LNW): The Houthi Terrorists in Yemen is now believed to have been damaged at least four under-sea communication cables in the Southern Red sea  disrupting communication between areas oF Europe and Asian countries including India and Sri Lanka.

Four underwater communications cables between Saudi Arabia and Djibouti have been struck out of commission in recent months, presumably as a result of attacks by Yemen’s Iranian-backed Houthi rebels, according to an exclusive report in the Israeli news site Globes.

The successful targeting of the four cables, which are believed to belong to the AAE-1, Seacom, EIG, and TGN systems, marks a serious disruption of communications between Europe and Asia.

Most of the immediate harm will be absorbed by the Gulf States and India, Globes said.

The AAE-1 cable connects East Asia to Europe via Egypt, connecting China to the West through countries such as Pakistan and Qatar.

The Europe India Gateway (EIG) cable system connects southern Europe to Egypt, Saudi Arabia, Djibouti, the UAE, and India. The Seacom cable connects Europe, Africa, and India, and is connected to South Africa.

Yemen’s Iranian-backed Houthi movement, which is not the internationally recognized government of the Arab country but which controls its most populous segments, has been attacking international trade for months, proclaiming solidarity with Palestinians as Israel wages war against Hamas in the Gaza Strip.

The United States, United Kingdom, and allies have begun in recent months to take offensive actions against the Houthis in response to attacks, but the missile, helicopter, and underwater drone assaults on merchant ships have continued.

While the world has a decent supply of cable repair ships, they are booked up well in advance so finding one ready to work is not always possible. Nor are cable repairs easy: it takes time to find and retrieve a damaged segment and reconnect it.

These repairs could be complicated by regional tensions. The Houthis have attacked civilian ships and military assets in the Red Sea since the recent invasion of Gaza by the Israel Defense Forces after terrorist attacks by Hamas.

Some shipping companies have therefore decided the risks of attacks on their assets are too high and are currently avoiding the Red Sea, a decision that extends shipping times. Peripheral vendor Logitech recently warned its supply chain would experience delays as a result of the Red Sea conflict.

Members of a mailing list covering internet outages also said they had seen problems with cables that run through the Red Sea but reports on the list also dispute the timing of the incident, pointing out that one of the cables mentioned in coverage of the outages, EIG, has been “down for a few weeks.”

Japan grants US$ 7.79 million to improve health capacities at BIA, Colombo Port

0

By: Staff Writer

February 28, Colombo (LNW): The International Organization for Migration (IOM), in partnership with relevant ministries of the Government of Sri Lanka (GoSL) and the Government of Maldives (GoM) launched a regional project ‘Strengthening Capacity of Border Control for Responding to Infectious Diseases in Southwest Asia’.

With a fund of US$ 8.6 million, provided by the Government of Japan (GoJ), the project intends to strengthen overall border management capacities in Sri Lanka and the Republic of the Maldives to prevent the spread of infectious diseases that would otherwise impede the revitalization of human mobility.

The Cabinet of Ministers has given the go-ahead to a proposal seeking to upgrade the Bandaranaike International Airport (BIA) in Katunayake and the Colombo Port to be on par with the international practices, recommendations and standards under a grant provided by Japan.

As Sri Lanka’s economy is mainly dependent on the income generated from international tourism and business travel, the government says this requires smooth operation of entry points into the country, building confidence among travellers and arranging cross-border entry points to comply with international health regulations on movement.

Government of Japan has provided a grant of Yen 1.17 billion ot $7.79 million through the International Organization for Migration (IOM) to further strengthen border-related health preparedness at points of entry, direct contribution to the control of infectious diseases and the overall security of all passengers, staff and staff at points of entry during health emergencies.

Under the grant, the facilities of BIA, Colombo Port and the Maldives International Airport are planned to be upgraded.

As such the Cabinet of Ministers approved the proposal presented by the Minister of Ports, Shipping and Aviation to implement the relevant project in tandem with the Ministry of Health, Department of Immigration, Airports and Air Services Company and Sri Lanka Port Authority.

The dramatic reduction in human mobility has been one of the most significant effects of the COVID-19 pandemic.

This had major economic and social impacts in Sri Lanka and the Maldives, which are heavily reliant upon income from international tourism, labour migration and business travel.

 The border closures and associated restrictions disrupted regular trade exchanges and impacted migration flows, as well as exposed border management agencies and cross-border communities to higher risks of infection.

The component of the project focusing on Sri Lanka will improve safety and security, and support process efficiency at primary points of entry (PoEs) to ensure more effective preparedness and proactive response to potential public health emergencies due to infectious disease outbreaks. The project will thus help interventions at the Bandaranaike International Airport (BIA) at Katunayake and the Colombo Port in Sri Lanka in compliance with International Health Regulations with approximately 700 PoE personnel and officers in Sri Lanka trained, in addition to the provision of improved infrastructure.

MSMEs breath sigh of relief following the freeze of parate action till Dec 15

0

By: Staff Writer

February 28, Colombo (LNW): The struggling Micro, Small and Medium Enterprises (MSMEs) and individuals are now breathing sigh of relief with the Cabinet of Ministers yesterday at its meeting agreeing to temporarily suspend highly contentious parate action till 15 December, 2024.

The Cabinet meeting chaired by President Ranil Wickremesinghe approved a proposal to this effect submitted by Justice Minister Dr. Wijeyadasa Rajapakshe PC along with Industries and Health Minister Dr. Ramesh Pathirana.

The Cabinet decision to temporarily halt parate action also comes despite warning by the Central Bank Governor Nandalal Weerasinghe that such a move will not help MSMEs and would be at the cost of banking system stability.

However the Cabinet move follows widespread demand for urgent “breathing space” for MSMEs and several political leaders backing the same.

The Government opted for temporary relief whilst the Asian Development Bank and other multilateral donor agencies are working to establish a credit guarantee fund.

To qualify for the temporary parate suspension, the MSMEs must show a proper restructuring plan for debt and operations.

Such a restructuring plan must show cash generation 20% over all expenses and debt servicing; an internal rate of return 15 to 25% and a feasibility of the restructuring plan must be documented and verified by an independent finance professional.

According to CBSL Governor MSMEs had been supported extensively since 2019. He revealed that the value of loans which got relief/restructured was Rs. 5.8 trillion.

He said in 2023 the number of actions were only 557 involving loans worth Rs. 38 billion which was 0.4% of total credit and 2.7% of impaired loans.

With banks asked to set up business revival units, he said over 2,500 enterprises with Rs. 85 billion in debt had been supported via this initiative.

Anti-parate activists who have now formed into a grouping called MSME Chamber of Sri Lanka claim that the number of parate actions was much higher and thousands of MSMEs have collapsed leading to job losses.

Economic expert Dr Harsha de Silva, MP, emphasised the urgent need for comprehensive measures to address the mounting challenges faced by these enterprises, which are crucial to the country’s economy and employment landscape.

To provide immediate relief to the struggling sector, he called for a two-year suspension of parate execution for non-willful defaulters and the introduction of insolvency legislation to support MSMEs.

MP Harsha said proposing “investor-equity eco-system model” as an alternative to collateral loans or venture capital, which would generate localised economic growth and provide investment opportunities for MSMEs.

According to the gazette notification issued by the government, informed that from January 2023 to the end of January 2024, 1410 property acquisitions have been made under parate law, they disclosed pointing out deflation of data by Central Bank.

National Trade Protection Council President Mahendra Perera said, the Government will have to consider MSMEs which went into default due to multiple crises caused by failure of political leadership and factors beyond the control of the private sector.

BIA Temporary terminal to ease passenger congestion: Aviation Minister

0

By: Staff Writer

February 28, Colombo (LNW): In a bid to address congestion and enhance capacity at Bandaranaike International Airport (BIA),  Ports, Shipping and Aviation Minister Nimal Siripala de Silva announced plans for the construction of a temporary terminal at a cost of Rs. 6 billion.

Speaking to journalists yesterday, he said that the temporary terminal will cater to an additional 1.5 million passengers till the completion of the second terminal.

“I’ve allocated Rs. 6 billion to put up a temporary terminal and the tender process is underway. It is expected to be completed within 10 months,” he said, adding that there is ongoing repair work to maintain the status quo of the airport.

The Minister said by the end of the year, the additional space provided by the temporary terminal will alleviate congestion at BIA.

At present, the airport handles around 9 million passengers annually, exceeding its capacity of around 6 million.

The Minister also outlined that Japan has assured its commitment to building the second terminal, but explained that the delay in funding is due to ongoing debt restructuring processes.

“Japan has assured the Government of enhanced loans for the construction of the second terminal, which is expected to take at least two years to complete,” de Silva added.

SriLankan Airlines Chairman Ashok Pathirage said the development of the second airport terminal is a national priority.

He stressed the need for national priority to  second terminal construction at the BIA.

“Despite additional repairs and efforts to accommodate more passengers, the airport is fully packed during peak hours. Therefore, development of the second terminal should be the Government’s priority,” he asserted.

Pathirage noted that the need to expand passenger handling capacity to accommodate the predicted growth in tourism and airline operations. “Given the projections for tourism and increasing airline traffic, we must expand the capacity to at least 20 million passengers,” he added.

A TRAGICOMEDY DRAMA STARRING SRI LANKA RUGBY DIRECTED BY KANDY

0

February, 27 Colombo (LNW): The CR&FC team was able to keep Kandy Sports Club, the most excellent rugby team in Sri Lanka, as runners-up this year. But the Kandy Sports Club has shown that it is not ready to withdraw its ability to handle the rugby game in Sri Lanka at its command and has come forward with a campaign to protect its innocence in the desire to withdraw from the Clifford Cup tournament which is held in the knockout system.


Last year, the Kandy Sports Club withdrew from the Clifford Cup competition in protest of Sri Lanka Rugby’s decision not to allow any sports club to play on the sports ground belonging to their sports club. Accordingly, they protested Sri Lanka Rugby’s provision of a ground in the Kandy area other than Nittawela, and all other sports clubs played in stadiums that did not belong to them. Later a ban was imposed in this regard. It is not possible to allow one sports club to play in a different way and subjugate other sports clubs to a law or policy, as a common decision was not reached, so Sri Lanka Rugby announced the ban. The current Acting President Nalin De Silva also explained the reasons when asked by the media. But this year, it seems that some people have been able to lead Sri Lanka Rugby to change the positions they have been standing in, showing a kind of spineless nature. Accordingly, the acting president had to take steps to change the decision regarding Kandy without notifying the entire executive committee by informing those close to the acting president. Because of this, while the issues arising in relation to the tournament were to be discussed, the Kandy Sports Club suggested that the tournament should be held in Kandy. If not, they said, they will not compete. Saying that banning is wrong, they are going out of the tournament this time, and they are preparing the necessary way by taking the space to talk about the previous ban.


Perhaps the reason is to avoid the humiliation of losing the Clifford Cup once again. Or it could be a shortage of funds for the current year’s tournament. But Kandy knowing that all these problems may arise to other sports clubs and suggesting them to bear the inconvenience by their own sports club, the face shown while leaving when it was not agreeing to, giving a subtle effect that it should be treated in a different way, is extremely humane.

The most important thing here is how this problem is selected from within Sri Lanka Rugby. Kandy Sports Club, like last year, decisions taken by sports clubs and executive council together with Sri Lanka Rugby or Rugby should be changed as per the need of Kandy. Or Sri Lanka Rugby should understand whether or not this signal means that Sri Lanka Rugby should operate as Kandy wants and demands. Our belief is that they are of the opinion that everything should be in accordance with the Kandy verse. If Sri Lanka Rugby can change as Kandy can and should instead of being confined to a common consensus or commonly imposed decision, Kandy may seen or not seen in the Clifford Cup. It is important to read the message that this withdrawal sends to Sri Lanka Rugby. The most important message that Sri Lanka Rugby should understand here is that they have put themselves in the difficult position of protecting their personality by acting as the administrators of the entire rugby in Sri Lanka.


The most beautiful thing here is Sri Lanka Rugbyr’s decision against working outside of general agreements by Kandy. This is the attempt made by the Acting President of Sri Lanka Rugby to get rid of the former President as a better person and to be superior to him by offering goodwill to Kandy. In masking the directness exhibited by the former president, the term encapsulating the acting president’s inclination to accomplish what others may have failed to do before is ‘sweet friendliness.’ This phrase characterizes the acting president’s accommodating demeanor and bending nature. But now Kandy did not submit any appeal against its ban within the specified time frame and the matter of removing the ban under the grace of the Acting President finally said, “You stay as we want. Or we can’t” and Kandy withdrew from the tournament. Through this, it has become clear that instead of the unalterable directness of governance obeying its legal factors, instead of having it constitutionally, going to bend without considering the constitutional legal factors will leave a painful and insulting result. The handling of Sri Lanka Rugby in Kandy’s self-produced comedy has been remarkably comical. Without allowing them to say anything, he gesticulates like a gentleman and directs the characters to work and at the end the handling of the characters in such a way that they are undermined is hilarious.


It is important for everyone to be united. The Kandy play has been directed drama in such a way as to make the Sri Lanka Rugby feel overwhelmed and ashamed of what he has said, saying things like “participation is the important”. The antics of the bare characters running around on the stage are amusing. But underneath that smile is the collapse of Sri Lanka Rugby’s personality. It is so helpless that it is impossible to stand up straight. That they should reject a common consensus and bend the majority to their own interests, if not, should we allow any single character within a group to say that they will not participate? Is it ethical to give and ask?

Is it legal? Is it constitutional? What is sadder than Kandy getting this space are those who are offering to eat the bait. It is true that Kandy’s ridiculous handling of Sri Lanka Rugby is hilarious. But it is a tragedy that Sri Lanka’s entire rugby administration is helpless in front of it. Therefore, the Kandy script reflects the features of the tragedy, which is not a happy one. Simply put, a tragicomedy. (Tragicomedy) Nevertheless, we would assert that Kandy stands as one of the premier clubs in Sri Lanka Rugby at the present moment. But ability and talent is an opportunity to respect evaluation, not a matter of changing the equal opportunities that are created when the two most impossible and the most possible teams collide in the game for one person. Considering the current circumstances, the match schedule for the Clifford Rugby Tournament, featuring the Nippon Trophy, commencing tomorrow without Kandy, is outlined below.

For Rugby, we have listed it below as well. If there is a different opinion, we will also reserve this space for it, and we strongly believe that the directness of an administration and the collective nature of decisions should not be changed with individual changes. Also, a talented or excellent person should act in general agreement and should not expect extraordinary privileges.

Dollar rate today(Feb 28)

0

February 28, Colombo (LNW): On February 28, the Sri Lankan Rupee has exhibited a slight appreciation against the US Dollar in commercial banks compared to the previous day. According to Peoples Bank, the buying rate dropped from Rs. 305.23 to Rs. 304.25, and the selling rate decreased from Rs. 315.87 to Rs. 314.86.

Commercial Bank reported a reduction in the buying rate from Rs. 304.77 to Rs. 304.27, while the selling rate decreased from Rs. 314.75 to Rs. 314.25.

Similarly, at Sampath Bank, the buying rate of the US Dollar has dropped from Rs. 306.50 to Rs. 305.50, and the selling rate reduced from Rs. 315.50 to Rs. 314.50.

Saudi Fund for Development Delegation Conducts Post-Implementation Evaluation of Epilepsy Hospital Project in Sri Lanka

0

February 28, Colombo (LNW): A delegation from the Development Evaluation Department of the Saudi Fund for Development (SFD) met with the Ambassador of the Kingdom of Saudi Arabia to Sri Lanka, Khalid bin Hamoud Al-Kahtani, on Tuesday (Feb 27). The purpose of the visit is to conduct a post-implementation evaluation of the Epilepsy Hospital and Health Centers project in the Republic of Sri Lanka.

Implemented by the Sri Lankan Ministry of Health at a cost of US$ 75 Million, the project received a contribution of US$ 32 Million from the Saudi Fund for Development. The Epilepsy Hospital, inaugurated in December 2017, comprises 08 floors with a capacity of 242 beds within the national hospital complex in Colombo.

The hospital plays a vital role in meeting the growing health needs and provides specialized services for treating epilepsy and convulsions, stemming from an increase in the brain’s electrical energy. The post-implementation evaluation aims to assess the effectiveness and impact of the project in enhancing healthcare services related to epilepsy in Sri Lanka.

University Non-Academic Staff to Stage Two-Day Token Strike Over Salary Anomalies

0

February 28, Colombo (LNW): University non-academic staff members are scheduled to initiate a two-day token strike on Wednesday (28) to address salary anomalies within their sector. This move comes amidst ongoing trade union actions by both academic and non-academic staff, who have been advocating for salary increases amid the prevailing economic challenges.

Recent government actions have focused solely on augmenting academic allowances for university academic staff, prompting discontent among non-academic personnel. The upcoming strike underscores the urgency of addressing salary discrepancies within the university system, highlighting the need for comprehensive measures to ensure equitable treatment for all staff members.

Decision on Revised Electricity Tariff Proposal to be Concluded by PUCSL

0

February 28, Colombo (LNW): The Public Utilities Commission of Sri Lanka (PUCSL) is set to convene on Wednesday (28) to make a final decision on the revised electricity tariff amendment proposal presented by the Ceylon Electricity Board (CEB). The PUCSL has assured that it will carefully consider the opinions and suggestions submitted by various stakeholders.

The Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis recently recommended a reduction of the current electricity tariff by at least over 20 percent. Minister of Power and Energy, Kanchana Wijesekera, informed Parliament that the CEB has proposed a reduction in the electricity tariff by the same percentage that was increased last October. The upcoming decision by the PUCSL will have significant implications for consumers and the energy sector in Sri Lanka.

Sri Lanka Insurance recognizes its top Sales achievers at Star Awards 2022

0
EST new wlogo.png

Sri Lanka Insurance, the largest and strongest Insurer in the insurance industry, recently hosted its Star Awards 2022 at the Monarch Imperial. The prestigious event served as a platform to commend and celebrate the remarkable achievements of the top sales performers for their outstanding contributions throughout the year 2022. 

Over 300 of the best achievers across all categories i.e. Life, Motor and Non-Motor, were honored with awards and recognitions for the titles of Best Sales Personnel, Best Team Leaders, Best Group Leaders and Best Branch Managers, Best Regional managers and Best Insurance Advisors were recognized and rewarded, under the respective business categories. The special award for the 15 best achievers were also presented with the ‘Best of the Best’ recognition, under each category.

All Island Best Regional Sales Manager (Life) – Mr. Prasanna Saman Kumara , All Island Best Regional Sales Manager (General Insurance) – Mr. T.S.K. Peiris, All Island Best Branch (Life) – Negombo Branch, All Island Best Branch Manager (General Insurance) – Ms. H. N. P. Udayakumari,  All Island Best Life Insurance Advisor / MDRT – Top of the Table (TOT) Member – Mr. G.A.A. Piyarathna, All Island Best Team Leader – Mr. P.S.J. Silva,  All Island Best Motor Insurance Advisor – Mr. E.S. Fernando, All Island Best Non Motor Insurance Advisor – Mr. U.G. Saman, All Island Best Marketing Executive (Non FBD) – Mr. R.M.P.D.K. Rajakaruna, All Island Best Marketing Executive (FBD) – Mr. A.K.C. Rodrigo,  All Island Best Individual Sales Personnel   (Head office & Corporate Lines) – Ms. A. Jayawardena, All Island Best Supervisor (Head office & Corporate Lines) – Mr. Ravi Medis, All Island Best Insurance Advisor Motor (Consecutive Award) – Mr. E.S. Fernando and All Island Best General Insurance Advisor (Consecutive Award) – Mr. M.N. Gunathilaka were awarded and recognised at the event for their exemplary work and commitment showcased throughout the year 2022.

Over 650 SLIC personnel including Chairman, Board of Directors, CEO and the corporate management attended the event. The event also felicitated members of the Platinum Star Club and Platinum Club. 

As the curtains draw to a close on yet another spectacular Sri Lanka Insurance Star Awards ceremony, the evening resonates with the echoes of success and achievement. Amidst the glittering awards and recognition, the event was further elevated by vibrant and colorful entertainment acts that added glamour to the occasion. The grand finale witnessed our dedicated sales team embracing the spirit of the evening, poised to surpass their own accomplishments in the upcoming year. With unwavering commitment, the team is geared to embody the theme of ‘Customer centricity through focused specialization,’ ensuring that Sri Lanka Insurance continues to set higher standards of customer service, consistently exceeding expectations.