Business
Red Cross raising funds to aid vulnerable communities in Sri Lanka

= 96% of more than 2,900 households surveyed have been affected by the current crisis in some way
=Launches urgent call for humanitarian financing until core economic issues are addressed by government
= Says humanitarian assistance for a certain period of time can mitigate risks of negative coping mechanisms
=Effort not seen easy as donors prioritize among other crises in the world
By Sanath Nanayakkare
A survey report produced by the International Federation of Red Cross and Red Crescent Societies provides first-hand evidence of how the most vulnerable people, who are already under the poverty line, are being driven further towards despair.The report gravely warns that without immediate humanitarian interventions, the impact on communities is likely to be long-lasting and cumulative.To meet the country’s spiralling needs, the IFRC has launched an Emergency Appeal for urgent humanitarian assistance for 28 million Swiss francs in support of Sri Lanka Red Cross. The Island learned that 15% of the target amount of donations has already been received from donors in the U.K., Canada, Japan and a number of other nations that are empathetic towards Sri Lanka.
The needs assessment conducted by Red Cross in 11 of the country’s 25 districts has found that 96% of more than 2,900 households surveyed have been affected by the current crisis in some way—with food insecurity, health, livelihoods, and nutrition among the top concerns. Deteriorating physical safety and security, as well as violence against women and children stood out in the report.It uncovered worryingly high problem of access to food, either because of high cost, income stress or lack of availability. Runaway inflation and loss of livelihoods have doubly impacted people’s ability to cope with the record cost of living. Income loss is causing significant food insecurity, while inflation is driving up the cost of medicine and fuel costs are preventing access to essential healthcare.
Alexander Matheou, Regional Director, Asia Pacific of the International Federation of the Red Cross and Red Crescent Societies who was on a visit to Colombo to meet with affected communities, government authorities and the diplomatic community said:
“The deepening economic crisis is forcing people to make heartbreaking choices between going hungry, buying life-saving medicine, or finding the money to send children to school. Our survey is not exhausted, so we cannot say it’s a final statement, but it indicated that vulnerability is being experienced evenly across the country and some groups are more affected than others.”
“I think that a survey like this one is going to help because it’s evidence-based. Our argument is widely accepted that in an economic crisis like this vulnerable communities’ income is affected, and so, the coping mechanisms tend to be negative. They sell their assets. Children may drop out of school, girls may get married early; these are all negative coping mechanisms from which it is very difficult to recover. Our argument is that humanitarian assistance for a certain period of time can mitigate the risks of some of those negative coping mechanisms. This is not a permanent solution. So we are always in favour of development financing, World Bank loans, ADB loans, debt restructuring and assurances from bilateral partners because ultimately the solution has to be found out at governmental level. We hope that friends of Sri Lanka will recognise that humanitarian support should be part of how they are trying to work with this country throughout this crisis; not the core issues, but the humanitarian aspects of it. We hope we will be successful in persuading donors. I understand that donors will have to prioritize among other crises in the world. So I don’t think it will be easy. But I think the argument is strong and this survey will help us make this argument in a more compelling way.”
“Hopefully this economic crisis won’t last forever. So we think if we can intervene for a year two for the most vulnerable people and can mitigate the risks of those negative coping mechanisms being adopted, that will be a good intervention.”
“The ideal intervention will be with cash distribution because cash allows people to make those choices. Should I eat? Should I take medicine? Do I fix my roof? What is posing the greatest pain and risk in my life? Sometimes you have to provide nutritional support for pregnant mothers and breast-feeding mothers. That will be one of the interventions we make. We may look at an agreement with the government for school feeding programmes which is a very good way to keep children in school. If any ongoing school feeding programme is stopped, that’s another area we can intervene. We are also very keen to find ways to have feedback mechanisms and raise awareness on the risks of sexual and gender-based violence because the prevalence of these goes up when poverty increases. We are keeping an eye on that as well. Anything we can do to mitigate that we shall try.
“Humanitarian action is particularly important which is by nature neutral and impartial. Humanitarian financing can alleviate suffering of vulnerable people in a non-political way and when that financing is released, it will not be politicised.”
“Our main priorities remain meeting humanitarian needs at its worst. Unless this is done effectively and quickly, people who are struggling now will find themselves on a demeaning pathway to destitution from which there is no escape. The time to act is now.” Swiss franc to US dollar exchange rate: 1.001 USD equals 1 Swiss franc.
Business
Cabinet approves submission of the Annual Economic Analysis of the Central Bank of Sri Lanka for the year 2024 to the Parliament

The Cabinet of Ministers has approved the proposal forwarded by the President in his office as the Minister of Finance, Planning and Economic Development to submit the Report on the Annual Economic Analysis of the Central Bank of Sri Lanka for the year 2024 to the Parliament.
As per section 80 (3) of the Central Bank of Sri Lanka Act No. 16 of 2023, the Minister in – charge of the subject of Finance shall submit a report on the economic situation which prevailed within the particular financial year, within four months after completion of each financial year. Accordingly, the report in relation to the financial review of the Central Bank of Sri Lanka for the year 2024 has been submitted to the President. The report has envisaged macro economic trends of Sri Lanka, situation of the financial system, as well as the major developments and a review of the policies of Central Bank of Sri Lanka.
[DGI]
Business
Gigalingua Lanka opens its doors to new opportunities for Sri Lankan nurses in Germany

Gigalingua Lanka, a premier German language institute, officially launched in Colombo with a ribbon-cutting ceremony attended by distinguished guests, including Dr. Felix Neumann, German ambassador to Sri Lanka. This marks a significant milestone for Sri Lankan professionals, especially nurses, looking to expand their careers in Germany’s thriving healthcare sector.
In collaboration with its strategic partner Global Care Solutions (Pvt) Ltd – a renowned company in the foreign recruitment industry – Gigalingua Lanka offers a unique pathway for Sri Lankan nurses and apprentices to master the German language and pursue rewarding career opportunities in Germany.
Dr. Felix Neumann, the Chief Guest at the event, expressed his support for the initiative, emphasizing the importance of language education as a bridge to global career prospects. In his speech, Dr. Neumann noted, “German language is not only a means of communication, it is a gateway to global career opportunities.” He commended Gigalingua Lanka for providing valuable opportunities for Sri Lankans and addressing the critical demand for skilled workers, especially in the nursing sector in Germany.
Gigalingua Lanka is the first private institute in Sri Lanka to offer comprehensive German language training up to the B2 level, and conduct TELC exam. The institution also provides language training for apprentices, allowing them to undertake the Apprenticeship Program and contribute to the growing labor market in Germany. The collaboration between Gigalingua Lanka and Global Care Solutions is designed to meet Germany’s growing need for skilled workers, particularly in the healthcare sector.
The event was attended by a number of prominent figures, including Dr. Felix Neumann , Arthur Senanayake (chairman of IWS Holdings), Eran Wickramaratne – former MP, Chandra Schaffter – ( Founder of Janashakthi Insurance ), Dhammika Attygalle (Director Upali Group of Companies and President Automobile Association of Ceylon) Former Wing Commander Buwaneka Abeysuriya (Ex- chairman Janatha Estates Development Board).
Chairman of Global Care Solutions, Thomas Michael Kriwat, who is also chairman of the Mercmarine Group of Companies in Germany, highlighted the significance of the new training center. He said, “We are bringing world-class German occupational language training to Colombo, offering a structured, career-focused pathway for Sri Lankan professionals. By introducing TELC (The European Language Certificates) as an officially certified German language test authority, we are increasing accessibility for students seeking internationally recognized qualifications.”
At the thanksgiving speech, Dr. Rajan Sara, Managing Director of Global Care Solutions and Director of Gigalingua Lanka, outlined the critical need for foreign nurses in Germany. “Germany is facing a significant shortage of nurses, estimated to need an additional 150,000 by 2025. This is exacerbated by an aging population and increasing healthcare demands. Over 47,000 vacancies in the healthcare sector remain unfilled, making it an ideal time for Sri Lankan nurses to seize this opportunity,” Dr. Sara explained. (Gigalingua Lanka)
Business
Browns unveils new expansion strategy

In keeping with its vision to consistently evolve and address accelerated business growth needs, Brown & Company PLC recently unveiled its new state-of-the-art manufacturing and warehouse facility in Katunayake. Strategically located within minutes of the Bandaranaike International Airport and the nation’s rapidly evolving highway network, the space is positioned to significantly enhance Browns’ logistical capabilities. The hub will enable seamless access to key markets across the island, further solidifying the Company’s principal role in a cross-section of industries.
The inaugural event of the Browns Group Industrial Park was attended by Ishara Nanayakkara, Chairman, Brown & Company PLC and Deputy Chairman, LOLC Holdings PLC and Kapila Jayawardene, Group Managing Director/CEO, LOLC Holdings PLC along with key officials from the Browns and LOLC Group.
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