Business

Call for urgent action by the Sri Lanka Women’s NGO Forum to alleviate the suffering of the people of Sri Lanka

Published

4 years ago

2022/04/21

Sri Lanka is in the grip of a collapsing economy causing immense suffering to its people.

Acute food, medicine and fuel shortages are crippling the day-to-day lives of the people giving way to despair and frustration and driving them to the streets to express their dissent against a government that has failed them. This crumbling economy if not salvaged with strategic thinking and wholesome planning for the future, will eventually bring the country and its people down to their knees. As in all crises, women are the worst affected with multiple roles they play on a daily basis, compelled to deal with long queues for gas, fuel and essential food items. Seven deaths in fuel queues (08/04) and the first death owing to lack of medicine have been reported.

Daily-wage earners and those dependent on micro, small and medium enterprises and other vulnerable, marginalized communities who live on the edge of acute poverty owing to their ethnic, religious, caste, gender and sexual orientation, are the worst affected by this ever-deepening crisis.

Most of these communities are still suffering from the effects of the trauma and tragedy of a conflict and war of over thirty years, the tsunami, Easter bombings and the Covid-19 pandemic.

These vulnerable communities are once again compelled to face another crisis.

Women shoulder numerous burdens – having to earn an income, unpaid care work as well as dealing with the struggles of their children who are already facing challenges in their education, deprived of the pleasures and joys of childhood. All these take their toll on women, their health and their mental wellbeing. The frustrations and fears faced by the families often get translated into acts of violence against women and children and inadequate support services which do not offer lasting solutions to women survivors of violence, almost always push women back to situations of recurrent violence in the home.

Let us keep in mind that this country is overwhelmingly dependent on women’s labour – through the plantation, garment and migrant labour sectors. Let us also keep in mind that women’s labour has been and continues to be exploited through their unpaid care work, lack of welfare facilities and redress mechanisms for rights violations including in their work environment.

Women’s spaces, freedom and aspirations have been curtailed through unfair social and economic practices. Women who contribute to the wealth of this country have the right to demand that their voices be heard.

We demand accountability from those who have been the cause of this plight of our country. We demand a healthy economic and political vision for our country which includes adequate investment in health, education and care services that would improve human productivity and the overall wellbeing of the people of Sri Lanka and urge reduced spending on defense.

We need solutions and interventions that take into account the pressing concerns of women, working people and the marginalised communities of our country, who make the majority of this country.

Call for urgent action:

1. Nominate women and men who have no allegations of corruption, hold a vision and a love for their country, to seats of authority. Appoint a minister of finance who has the relevant expertise in the field. Call for the immediate resignation of all political figures who have failed our country.

2. As an urgent measure, expedite the establishment of the National Commission of Women as proposed in the Sri Lanka Women’s Charter.

3. Strengthen the Samurdhi and Cooperative systems and increase budget allocations to these institutions to enable non-discriminatory distribution of essential ration items to all households.

4. Ensure immediate food security through:

a. imposing strict price controls on goods especially essential food items, kerosene and gas.

b. providing urgent support and subsidies to the farmer and fisher communities.

c. providing nutrition packages for pregnant and lactating mothers as per budget 2022, ensuring school midday meals programme and household level relief for children.

5. Take immediate State action to restore the smooth functioning of the Health sector with adequate supply of medicines, essential medical equipment, health products and reproductive health services throughout the country.

6. Set up urgent support schemes with efficient officers who are not corrupt who would offer their services without prejudice and discrimination and address issues of starvation, homelessness, destitution and all forms of violence against women. Ensure timely responses and a people centered approach at all times.

7. Utilize public revenue to set in motion social security programmes that would ease the present crisis.

8. Ensure equal representation of capable women who are themselves affected, in advisory boards, committees and in all planning measures that address the current crisis.

9. Above all – refrain from using state violence, threats and manipulations on peaceful protests and people’s spaces and urge all politicians to desist from inciting communal violence.

We urge all citizens’ collectives – women’s collectives, trade unions, student movements, religious institutions cooperatives, farmer & fisher collectives, NGOs, all professional bodies and progressive political movements to join us in our call for urgent action in addressing this nationwide humanitarian emergency that if left unattended will destroy our country and our future generations.

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Business

SpaceX IPO debuts in US markets, Musk becomes world’s first trillionaire

Published

43 mins ago

2026/06/13

Priyan

The Musk led company sold $75bn in shares before the market debut [Aljazeera]

SpaceX has debuted on US markets with a market valuation of more than $2 trillion, minting CEO Elon Musk as the world’s first trillionaire.

Shares opened on Friday at $150 per share, marking a 11 percent increase from the initial public offering (IPO) price of $135, valuing the company at $1.96 trillion and putting the aerospace company on track to become the sixth-largest company in the United States.

The stock surged 18 percent to $159 per share, up from the $135 it had been priced at, as the trading day came to a close.

Markets more broadly ticked higher amid a possible interim peace deal between the United States and Iran that could open the Strait of Hormuz. The Dow Jones Industrial Average is up 0.6 percent, the Nasdaq is up 0.2 percent, and the S&P 500 is up 0.35 percent as trading wraps up for the week.

The company sold $75bn in shares, immediately valuing it at $1.77 trillion. The IPO was oversubscribed four times higher than was otherwise expected, according to the Reuters news agency.

Of the institutional investors allocated, according to Bloomberg News, as much as 70 percent went to what are called long-only investments — a strategy in which holders buy assets based on the expectation that their value will grow over time — and sovereign wealth funds, including those from Saudi Arabia and Kuwait as well.

SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen rang the opening bell at Nasdaq MarketSite in New York City at 9:30am local time as US markets opened.

On Thursday, protesters gathered outside the MarketSite to protest the IPO amid continued allegations that Grok, part of xAI, a subsidiary of SpaceX, allowed users to create non-consensual deepfake sexualised images before the IPO debut.

Shares of SpaceX did not trade until the middle of the trading day as the exchange collected buy and sell orders and underwriters delayed trading until supply and demand were balanced.

“We would expect SpaceX to see an immediate pop in trading due to the hype around the deal, north of 20 percent perhaps,” said Samuel Kerr, global head of equity capital markets at Mergermarket. “Anything lower would actually make me nervous.”

Exchanges and trading firms are eager to avoid the technical mishaps that marred Meta’s 2012 debut. With SpaceX widely viewed as a dress rehearsal for a new generation of mega-listings, market participants will also be watching for signals on investor appetite in advance of forthcoming IPOs for AI heavyweights Anthropic and OpenAI.

The landmark listing cemented Musk’s status as the first trillionaire ever and propelled SpaceX into the ranks of the world’s most valuable companies — even though the firm posted a loss of nearly $5bn last year and generated only a fraction of the revenue brought in by similarly valued tech giants.

The surge comes amid growth driven by its Starlink subsidiary, which drives as much as 80 percent of its revenue.

On Friday, SpaceX launched its Falcon 9 rocket with 29 satellites into space from Cape Canaveral in Florida.

[Aljazeera]

Business

Indo-Lanka Chamber hosts dialogue on Sri Lanka’s investment future

Published

3 hours ago

2026/06/13

Thilina Walpola

Interactive session with Aritha Wickramasinghe

The Indo-Lanka Chamber of Commerce & Industry (ILCCI), affiliated to The Ceylon Chamber of Commerce, hosted an interactive session on Sri Lanka’s Investment Future: Policy, Opportunity & Growth at Jetwing Colombo Seven. The session was attended by Dr. Satyanjal Pandey as Chief Guest, while Aritha Wickramasinghe delivered the keynote address in his capacity as Chief of Staff to the Office of the Presidential Special Envoy on Foreign Investment, Hanif Yusoof.

ILCCI President M. Raghuraman, in his remarks, expressed appreciation to Dr. Pandey for his service during his tenure in Sri Lanka and underscored the timeliness and importance of the session topic in the context of the current global economic and geopolitical climate.

Addressing the gathering, Dr. Pandey observed that in a period marked by geopolitical and economic turbulence – reliability, trustworthiness, and secure supply chains have become increasingly important. He also highlighted the strong and growing economic partnership between India and Sri Lanka, noting several significant Indian investments in Sri Lanka, including those by ITC Limited and CEAT Limited, while indicating that further investments are expected in the future.

As a representative of the state, Aritha Wickramasinghe stated that it is the responsibility of the government to ensure that, even amid global turbulence, Sri Lanka remains stable in its policy direction, credible in its economic management, and consistent in its engagement with investors. He also emphasised the opportunities available to the Sri Lankan economy through deeper engagement with India’s fast-growing economy, noting that while India and Sri Lanka are neighbours, the relationship is regarded as one of family rather than mere proximity.

The session which included a highly engaging and interactive Q&A session with the audience, concluded with a productive exchange of views between the distinguished guests, speakers and participants, reaffirming the importance of continued dialogue and collaboration in strengthening investment and economic ties between Sri Lanka and India.

Business

Australia and Sri Lanka strengthen maritime security partnership

Published

4 hours ago

2026/06/13

Thilina Walpola

The Australian Border Force and Sri Lanka Coast Guard have launched Disi Rela 2026, marking the third consecutive year of the joint maritime security initiative aimed at strengthening maritime surveillance, operational capability, and public awareness across Sri Lanka’s coastal regions.

This year, Disi Rela 2026 expands its community engagement and public awareness activities to Sri Lanka’s Eastern Province, following successful activations conducted in the Western and Southern Provinces in previous years.

Meaning “keeping a watchful eye over the maritime environment,” Disi Rela reflects the continued partnership between Australia and Sri Lanka to strengthen maritime security, combat transnational maritime crime, and promote safer seas across the region. Through intelligence sharing, operational cooperation, advanced equipment support, and public awareness initiatives, both countries continue to work together to address threats including people smuggling, drug trafficking, illegal fishing, and other unlawful maritime activities.

Over the past three years, the Australian Government has supported Sri Lanka’s maritime security efforts under the Disi Rela initiative through the donation of 24 surveillance drones, three all-terrain vehicles (ATVs), three Stabicraft patrol vessels, and the establishment of a dedicated 24/7 hotline number — 106.

Further strengthening Sri Lanka Coast Guard’s operational capability, the Australian Government will donate an additional five all-terrain vehicles (ATVs) under Disi Rela 2026 to support coastal surveillance and rapid response operations.

In reflecting upon the continued partnership and shared commitment of both nations to safeguard Sri Lanka’s maritime boundaries and coastal communities, the Director General of the Sri Lanka Coast Guard,