Business

SLCB wraps-up series of educational sessions on MICE Tourism for 2021

Published

4 years ago

2021/12/13

Part of the audience

The Sri Lanka Convention Bureau (SLCB), in collaboration with the Sri Lanka Association of Professional Conference, Exhibition & Event Organizers (SLAPCEO), recently organized the Fourth and Fifth SLCB Chairperson’s Forum on MICE at Taj Samudra Colombo. The Forums – held over two distinct sessions – comprised dialogues and discussions on “State Mechanism for MICE Development in Sri Lanka” and “MICE Economic Development through Higher Educational Institutions” respectively. The SLCB, a state institution under the Ministry of Tourism organised the Forums with the prime objective of promoting Sri Lanka as a venue for MICE (Meetings, Incentives, Conferences, Exhibitions & Events) activities.

Previous versions of the SLCB Chairperson’s Forum on MICE comprised a series of educational seminars and workshops aimed at creating awareness among industry stakeholders, including diplomats, airlines, associations, business chambers, and academics, in promoting Sri Lanka as an ideal venue for MICE ventures. Among the Forum’s aim is the dissemination of information on MICE tourism and its many benefits for the country, and educating stakeholders on positioning Sri Lanka as an attractive venue for MICE.

The Fourth SLCB Chairperson’s Forum on MICE featured a panel of expert speakers including Ms. Kimarli Fernando, Chairperson – Sri Lanka Tourism, Ms. D. L. Sannasooriya, Acting Secretary – Ministry of Tourism, Ms. Nadeeka Leeniyagoda, Secretary – SLAPCEO, Buddhika Hewawasam, Manager – Sri Lankan Holidays and Mrs. Anusha Mohotti, Director General Sri Lanka Accounting and Auditing Standards Monitoring Board. Attendees included a gathering of key representatives from state entities in Sri Lanka.

Opening the Forum with a discussion on the topic “Rediscover Sri Lanka with MICE Events”, Ms. Kimarli Fernando commenced with an open appeal to the audience to collaborate with the Ministry of Tourism on matters of MICE, encouraging them to secure conventions to be held in Sri Lanka. Fernando also highlighted that despite the pandemic, Sri Lanka has continued to make strides in tourism, having been featured by a plethora of notable institutions such as Conde Nast Traveller and Lonely Planet. She added that the successful vaccination drive in the country and the diligent health protocols in place would attract a large number of travellers. Ms. Fernando expressed optimism for tourism in the country, adding that Sri Lanka is firmly poised to deliver the needs and wants of the post covid traveller – wellness, nature, and space. A year round destination, Fernando believes the island’s strategic location, diverse experiences, melting pot of culture and rich history will draw a plethora of tourists, but opined that in order to widen appeal, necessary changes were required, including intuitive service, up-scaled offerings, disability friendly access, and upgraded facilities. “We are working on a global promotion campaign, and we’re looking to work with tourism stakeholders to improve standards so tourists could have a good experience every step of the way”. Ms. Fernando also shared that the country’s first holistic travel app was being conceptualized, and is tipped to provide information at one’s fingertips.

Speaking on the “Role of state institutions to develop MICE Tourism in Sri Lanka”, Ms. D. L. Sannasooriya shared that “the Bureau functions as a catalyst and commands the necessary government support in bidding for international and regional MICE events. It also acts as a coordinator in enlisting the cooperation and assistance of the public sector in organizing these gatherings”. Owing to the disruptions in tourism as a result of Covid-19 pandemic, Ms. Sannasooriya explained that the SLCB had taken steps in planning educational seminars, workshops, forums to create awareness among diplomats, airlines to equip and educate tourism stakeholders. “We invite the audience to host forums and events in Sri Lanka itself. We have a long tradition of hosting significant MICE events and we are fast becoming one of Asia’s most sought after MICE destinations”.

“MICE is a high yielding tourism sector” she elaborated. “It brings more foreign exchange revenue, exposes the country to a new class of affluent visitors, employs a large number of support services resulting in significant indirect employment and generates knowledge sharing opportunities, scholarships, and investment opportunities which are essential for the development of the country. It also directly contributes to the efforts of the tourism industry to promote Sri Lanka as an upmarket tourism destination”. Ms. Sannasooriya also pledged support for local institutions bidding for MICE events to be held in the country.

In her segment on “Connecting Sri Lanka with the World of MICE”, Ms. Nadeeka Leeniyagoda remarked that while MICE is a niche market in Sri Lanka, it is actually a billion dollar segment globally. “As per 2018 statistics, the MICE domain was worth 800 billion USD, and by 2025, the value would reach 1.2 trillion. We have great potential in this segment”. Drawing attention to the varied scope of tourism avenues, Ms. Leeniyagoda showcased the benefits for the country including profit, awareness and the platform to build its profile. She also highlighted benefits for the country as a direct consequence of MICE events, adding “there is great potential for economic growth, it supports direct and indirect suppliers. Attendees will return with their families for vacations”. Ms. Leeniyagoda announced that Sri Lanka is hoping to establish conference centres, including one in Port City. “We are hoping to build MICE facilities and infrastructure to rival those of Dubai and Singapore”, she claimed.

Ms. Kimarli Fernando, Chairperson Sri Lanka Tourism, addressing the gathering

Buddhika Hewawasam, Manager – Sri Lankan Holidays took the podium to share that Sri Lankan Airlines is appropriately placed to support MICE initiatives. “As the national airline, we do have a responsibility towards tourism, so we invite all tourism stakeholders – especially MICE – to use our facilities and our support. Air travel is vital for MICE tourism to prosper and we can connect you with the world through the MICE tourism network”. Connecting 416 destinations and 55 countries,

Hewawasam stated that despite the pandemic, SriLankan Airlines continues to expand its network and recently recommenced flights to key cities in France and Germany. He further mentioned that SriLankan Airlines is focusing on facilitating MICE events and working with partners simultaneously; embarking on joint promotional efforts, additional assistance, discounts and accommodating a plethora of requirements. He concluded by sharing that the Forum was an eye opener for stakeholders, as it showcased the support available to them.

The final speaker at the Forum, Ms. Anusha Mohotti’s segment comprised “Experience sharing – Bidding and winning an International Conference to Sri Lanka”. Sharing her experience successfully securing the opportunity to host an event in Sri Lanka, she elaborated on the processes, the challenges as well as the support received from various institutions in hosting the event.

The last Forum of the series, which is the Fifth SLCB Chairperson’s Forum on MICE hosted in the afternoon at Taj Samudra Colombo amidst a gathering of key individuals from educational institutions, sought to educate on how to organize an international conference in Sri Lanka and encourage them to host and organize conferences. Speakers at the event were Krishantha Fernando, Ms. Kimarli Fernando, Ms. Nadeeka Leeniyagoda, Dr. Shaffaath Amidon, Buddhika Hewawasam and Pro. K. P. Hewagamage. Dr. Shaffaath Amidon spoke on the role of higher educational institutions to develop MICE tourism in Sri Lanka and urged them to make Sri Lanka a ‘knowledge hub’. Prof. K. P. Hewagamage, Director of University of Colombo School of Computing who played a leading role in organizing the International Conference on Advances in ICT for Emerging Regions (ICTer) at the University of Colombo for the first time, spoke on his experience in organizing the Conference annually. This year it was held for the 21st time. He encouraged the participants to organize international conferences in Sri Lanka which are relevant to their subject areas.

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Business

Oil prices rise after ships attacked near Strait of Hormuz

Published

8 hours ago

2026/03/2

Priyan

File photo of shipping in the Strait of Hormuz, which has now ground to a halt [BBC]

Global oil prices have risen after at least three ships were attacked near the Strait of Hormuz, as Iran continues to launch strikes across the Middle East in response to ongoing attacks by the US and Israel.

Two vessels have been struck, and an “unknown projectile” was reported to have “exploded in very close proximity” to a third, the UK Maritime Trade Operations Centre (UKMTO) said.

Iran has warned ships not to pass through the strait, which carries about 20% of the world’s oil and gas.

International shipping has almost come to a standstill at the strait’s entrance, with analysts warning that a prolonged conflict could push energy prices even higher.

In early trade in Asia on Monday, global oil prices jumped by more than 10% before those gains eased during the morning.

At 02:00 GMT, Brent crude was more than 4% higher at $76.16 (£56.53) a barrel, while US-traded oil was also up by around 4% at $69.67.

“The market isn’t panicking”, Saul Kavonic, head of energy research at MST Research told the BBC.

“There is more clarity that so far, oil transport and production infrastructure hasn’t been a primary target by any side,” he added.

“The market will be watching for signs that traffic through the Strait of Hormuz returns, which would see oil prices subside again.”

But some analysts have warned it could go over $100 in the event of a prolonged conflict.

On Sunday, the Opec+ group of oil producing nations – which includes Saudi Arabia and Russia – agreed to increase their output by 206,000 barrels a day to help cushion any price rises, but some experts doubt this would help much.

Edmund King, president of the AA, warned the disruption could drive up petrol prices around the world.

“The turmoil and bombing across the Middle East will surely be a catalyst to disrupt oil distribution globally, which will inevitably lead to price hikes,” he said.

“The magnitude and duration of pump price increases depends on how long the conflict goes on.”

[BBC]

Business

Iran strikes could add external pressure on Sri Lanka’s fragile recovery: Analyst

Published

13 hours ago

2026/03/2

Sahan Weerasooriya

The U.S. and Israeli strikes on Iran have reignited geopolitical tensions in the Middle East, stoking fears of a broader conflict that could disrupt critical energy supply routes – particularly the Strait of Hormuz, through which roughly one-fifth of the world’s oil supply flows. Brent crude has already edged higher, and global oil markets warn prices could climb toward, or even exceed, US$80–100 a barrel if hostilities escalate.

Against this backdrop, an independent economic analyst told The Island that for Sri Lanka – a small, fuel-importing economy with limited domestic energy resources – the implications could be significant.

“Sri Lanka imports over 90% of its petroleum requirements, and any sustained rise in global crude prices would expand the annual import bill, placing renewed pressure on already tight foreign exchange reserves,” he said.

Even moderate spikes in oil prices, he noted, tend to filter quickly through the domestic economy. “Higher fuel costs translate into increased transport and production expenses, which feed into inflation and erode household purchasing power. Freight charges for essential goods – from food items to industrial inputs – would also rise.”

“The Middle East remains a key source of remittances and export demand,” the analyst explained. “A large share of Sri Lankan migrant workers are employed in Gulf economies, while regional markets absorb tea and other exports. Heightened instability could weaken remittance inflows and soften demand, further straining the balance of payments.”

When asked whether the Central Bank of Sri Lanka (CBSL) might be compelled to shift policy in response, the analyst said the monetary authority faces a delicate balancing act.

“Rising import inflation stemming from higher global energy prices could push the Central Bank to maintain – or even tighten – its monetary policy stance in order to safeguard price stability and support the rupee. A firmer stance may be deemed necessary to anchor inflation expectations and preserve market confidence. The Central Bank is therefore likely to monitor inflation data closely in the coming weeks to assess whether energy-driven price pressures prove temporary or more entrenched,” he said.

Meanwhile, Ceylon Petroleum Corporation (CPC) Chairman S. Rajakaruna said that Sri Lanka’s fuel imports – sourced primarily from Singapore and India – reduce immediate exposure to supply disruptions directly linked to Middle Eastern routes. He also sought to allay public concerns, noting that the country currently maintains sufficient fuel stocks for approximately one month and that there need not be any queueing up by the public to hoard supplies.

However, the analyst cautioned that while physical supply may remain stable, global price pass-through effects are an unavoidable risk.

Meanwhile, Opposition politician Wimal Weerawansa said that official assurances of “one month’s stock” tend to unsettle the public, arguing that such statements evoke memories of past shortages and public distress.

By Sanath Nanayakkare

Business

Ministry of Education recognises LOLC Divi Saviya for restoring 200 schools

Published

13 hours ago

2026/03/2

Sahan Weerasooriya

Kapila Jayawardena, Group Managing Director/CEO of LOLC Holdings PLC presenting the project update of LOLC Divi Saviya to Prime Minister and Education Minister Dr. Harini Amarasuriya

The Ministry of Education officially recognised LOLC Holdings PLC for its flagship humanitarian initiative, Divi Saviya, at a special ceremony held on 27th February 2026 in Battaramulla. The event marked the second time the Ministry has acknowledged the programme’s contribution to the nation’s education sector.

Group Managing Director/CEO Kapila Jayawardena presented a project update to Prime Minister and Education Minister Dr. Harini Amarasuriya, highlighting the rapid restoration of 200 schools under Phase 02 of ‘Obai, Mamai, Ape Ratai’. The schools were repaired and handed over within just 45 days, enabling students displaced by Cyclone Ditwah to safely resume learning.

Phase 02 follows a needs assessment that identified 200 damaged schools and 4,000 displaced families. Implemented with Divisional Secretariats and Disaster Management Centres, the Rs. 500 million programme has delivered Family Super Packs and school renovations across six districts.

Kapila Jayawardena stated, “It was a privilege to share these outcomes with the Prime Minister. This recognition reflects how private sector collaboration can complement government efforts during national challenges.” Plans are underway to fully rebuild select schools destroyed by the cyclone.