Business
‘Galle Concerto 2024’ to put Sri Lanka back on world stage; four years on from crises exit
By Sanath Nanayakkare
The Presidential Secretariat, the Sri Lanka Tourism Promotion Bureau and the Sri Lanka Tourism Development Authority together with sponsors announced the launch of Galle Concerto 2024 at the Kingsbury Hotel Colombo on Wednesday.
They emphasized that the series of events of the programme would convey to the world that Sri Lanka is not only recovering but re-emerging as a strategically managed top tourist destination, consistent with its social, environmental and macroeconomic goals.
The Concerto, which comprises six segments, held its inaugurating ‘Rhythms of Paradise’ drum festival in Koggala from 12th – 14th January. The ‘Gourmet Galle Food Festival’ is taking place from 12th January – 30th March. The Classical Music Event will take place in Tangalle through 19th-21st January. Meanwhile, the Southern Book Fair will be held in Galle from 19th – 28th January, while the Galle Literary Festival will take place from January 25-28, followed by the Matara Festival from February 1-4.
“It will be the largest promotion of Sri Lanka’s music, culture, art and food ever undertaken, reaching out to a global audience, marketed throughout South Asia and the world. Galle Concerto will help make the southern belt of Sri Lanka to become one of the most visited destination in the world with the right audience”, Chalaka Gajabahu – chairman, Sri Lanka Tourism Promotion Bureau said.
The handbook launched along with the official announcement is set against the backdrop of the rich heritage of the country’s tourism ecosystem and vibrant coastal charm in the Southern Province.
Notably, the event will bring together a diverse array of writers, poets, intellectuals, literary enthusiasts, musicians, artists and celebrity chefs from around the world, who have the power to influence more travellers to visit Sri Lanka.
The Galle Concerto 2024 is launched under the auspices of President Ranil Wickremesinghe with the support of the office of the Presidential Envoy, Niranjan Deva Aditya.
Delivering the keynote speech at the event, Niranjan Deva Aditya said,” Four years ago, this country was shut down due to Covid 19 travel restrictions and people were forced to stay home unable to interact face-to-face for meaningful work like this. And two years ago, we had Aragalaya, riots, power-cuts and various shortages. I don’t need to remind you of the trials and tribulations the country of my birth endured over the past four years.
However, in the two ensuing years, we have all come together to work in unison to create an extraordinary celebration of Sri Lanka’s ancient history, culture, music, food, art and so on which are unique in the world with the objective of putting Sri Lanka back on the world tourism map in a much more dynamic way. I personally know the uniqueness of Sri Lanka. I have legislated for a number of countries over the past 20 years, and therefore, I can tell you Sri Lanka is the best.”
“Having gone through the two crises, we have been able to resurrect and revive our global identity and stand within a short span of two years and showcase our cultural diversity to the world. Today we are working together under the auspices of a man who inspired us for progressive possibilities. Nine months ago, he said we should call the largest event Sri Lanka ever had to show that we are back on the world stage.
Everybody right around him bought into his vision and many unsung heroes have worked thousands of hours to put together this extraordinary event without being paid, without any salaries because they believe in the great potential of this country. If we continue to nurture this progressive and collaborative attitude, I can assure you that Sri Lanka will have a great and secure future,” he said.
Tracy Holisnger -Galle Literary Festival- Gourmet Galle said,” Gourmet Galle will be a 12 week-long gourmet festival up and down the southern coast of Sri Lanka. A partner to the incredibly successful Galle Literary Festival, Gourmet Galle will feature dinners, afternoon tea and master classes with thirteen amazing celebrity and world-renowned chefs along the southern coast of Sri Lanka. The dinners will take place in exquisite homes and the finest boutique hotels, carefully curated to make each weekend its own unique and incredible event.”
Edward Robinson – Southern Book Fair, Chanchala Gunewardena – Matara Festival for the Arts, Nilupul Gunawardena – Rhythms of Paradise, Champika De Silva – Opera at the Anantara , and Damitha Nikapota – Gourmet Galle, spoke of their respective segments.
The literary sessions will be held at the Martin Wickramasinghe Folk Museum. The flagship event will conclude with a concert by internationally acclaimed Sri Lankan artistes.
Sri Lanka’s Tourism earnings for 2023 exceeded $ 2 billion mark with 1.48 million tourist arrivals. The following are some official statistics on tourist arrivals to Sri Lanka in 2023 in alphabetical order.
Armenia 2,490, Australia 67,436, Austria 10,594, Bangladesh 17,846, Belarus 10,969, Belgium 10,667, Canada 43,944, China 68,789, Czech Republic 12,056, Denmark 10,346, France 56,251, Germany 102,539, India 302,844, Israel 19,517, Italy 22,242, Japan 19,583, Malaysia 10,940, Maldives 37,328,Netherlands 29,056,Pakistan 10,744, Poland 17,946, Russia 197,498, Spain 23,905, Switzerland 23,556, U.K. 130,088, U.S.A 46,344.
Sri Lanka’s decision to invest Rs. 2.5 billion in restoring the heavily polluted Beira Lake marks one of the most significant urban environmental interventions in recent years, underscoring a growing recognition that ecological rehabilitation is also an economic imperative.
The multi-pronged project—covering the closure of illegal sewage discharge points, large-scale dredging, and the installation of aeration systems—is expected to not only revive aquatic life but also unlock commercial, tourism and real estate value in the heart of Colombo.
Officials say the initiative is designed to transform Beira Lake from a long-neglected liability into a productive urban asset.
A senior official from the Ministry of Environment told The Island Financial Review that untreated wastewater and illegal sewer connections had been the primary contributors to the lake’s degradation for decades. “Closing these illegal sewage points is the most critical intervention. Without that, any dredging or aeration would only offer temporary relief, the official said, adding that enforcement will be carried out in coordination with the Colombo Municipal Council (CMC) and other regulatory agencies.
From a business perspective, the clean-up is being viewed as a catalyst for urban regeneration. Urban Development Authority (UDA) sources noted that a healthier Beira Lake would significantly enhance the attractiveness of surrounding commercial developments, hospitality projects and public spaces. “Environmental remediation directly impacts land values and investor confidence. A clean, living lake changes the entire economic profile of the area, an UDA official said.
The dredging component of the project is aimed at removing decades of accumulated sludge, which has reduced water depth and contributed to foul odours and fish die-offs. According to officials involved in project planning, the dredged material will be disposed of following environmental guidelines to avoid secondary pollution risks—an issue that has undermined similar efforts in the past.
Meanwhile, the installation of modern aerators is expected to improve dissolved oxygen levels, a key requirement for sustaining fish and other aquatic organisms. “Restoring aquatic life is not just about biodiversity; it is about creating a water body that can safely support recreational activities and public engagement, a senior CMC engineer explained.
Economists point out that the Rs. 2.5 billion allocation, while substantial, should be seen against the long-term cost savings and revenue potential. Reduced public health risks, lower water treatment costs downstream, increased tourism activity and higher commercial footfall could deliver returns that far exceed the initial outlay.
By Ifham Nizam
CSE activities kicked off on a negative note initially but later experienced some recovery yesterday because most investors were anticipating positive third quarter result shortly, market analysts said.
Amid those developments, the market indicated mixed reactions. The All Share Price Index went down by 4.13 points, while the S and P SL20 rose by 14.02 points. Turnover stood at Rs 5.17 billion with 11 crossings.
Top seven crossings were reported in Renuka Holdings where eight million shares crossed to the tune of Rs 324 million; its shares traded at Rs 40.50, Tokyo Cement one million shares crossed to the tune of Rs 113 million; its shares traded at Rs 113, Distilleries 1.85 million shares crossed for Rs 111 million; its shares traded at Rs 60, ACL Cables 500,000 shares crossed for Rs 51.5 million, its shares sold at Rs 103 Chevron Lubricants 250,000 shares crossed for Rs 47.5 million; its shares traded at Rs 190, Ambeon Capital 738600 shares crossed at Rs 40.50 each and Melstacope 150,000 shares crossed for Rs 27 million; its shares traded at Rs 180.
In the retail market top seven companies that mainly contributed to the turnover were; Colombo Dockyard Rs 1.26 billion (12 million shares traded), ACL Cables Rs 348 million (3.3 million shares traded), HNB (Non-Voting) Rs 152 million (425,000 shares traded), Hayleys Rs 109 million (507,000 shares traded), Tokyo Cement (Non-Voting) Rs 94 million (989,000 shares traded) Lanka Realty Investments Rs 80 million (1.6 million shares traded) and Sampath Bank Rs 77 million (498,000 shares traded). During the day 135 million share volumes changed hands in 38398 transactions.
It is said that manufacturing sector counters, especially Tokyo Cement and ACL Cables, performed well. Further, Colombo Dockyard became the most preferred share for investors. The Banking sector also performed well.
Browns Beach Hotels said that the company will delist from the CSE, having made arrangements with majority shareholders Melstacope and Aitken Spence Hotel Holdings to buy back shares from minority shareholders at an exit offer price of Rs 30.
Yesterday the rupee was quoted at Rs 309.75/85 to the US dollar in the spot market, from Rs 309.72/77 the previous day, having depreciated in recent weeks, dealers said, while bond yields were down.
A bond maturing on 15.05.2026 was quoted at 8.25/35 percent.
A bond maturing on 15.02.2028 was quoted at 9.00/10 percent, down from 9.05/10 percent.
A bond maturing on 15.12.2029 was quoted at 9.65/70 percent, up from 9.65/69 percent.
A bond maturing on 01.03.2030 was quoted at 9.72/75 percent, from 9.70/76 percent.
A bond maturing on 15.03.2031 was quoted at 9.95/10.00 percent, down from 10.00/10 percent.
A bond maturing on 01.10.2032 was quoted at 10.30/50 percent.
A bond maturing on 01.06.2033 was quoted at 10.72/75 percent, down from 10.70/80 percent.
A bond maturing on 15.06.2035 closed at 11.05/10 percent, down from 11.07/11 percent.
The telegraphic transfer rates for the American dollar were 306.2500 buying, 313.2500 selling; the British pound was 409.9898 buying, and 421.3080 selling, and the euro was 354.1773 buying, 365.5655 selling.
By Hiran H Senewiratne
Ceylon Theatres Limited, in partnership with British Council, is proud to present the first ever screening of National Theatre (NT) Live’s Hamlet starring Hiran Abeysekara in Asia. The first screening will happen at Regal Cinema in Dematagoda (Colombo 9) at 5:30 pm on Sunday, 25 January. Sri Lankan actor Hiran Abeysekera stars in the title role—the first Asian actor to play Hamlet in a National Theatre production.
For Sri Lankan audiences, this screening is both a celebration and a homecoming. It reflects the British Council’s long-standing commitment to nurturing creative talent, widening access to world-class culture, and building deep, people-to-people connections between Sri Lanka and the United Kingdom through theatre and the creative arts. To celebrate the inaugural screening, the British Council is inviting winners and runners-up of the All-Island Inter-School Shakespeare Drama Competition, alongside drama teachers and university actors, to attend the premiere.
Further details on screening dates, venues, and ticketing can be found at: https://ceylontheatres.com/ and on the British Council Instagram page https://www.instagram.com/britishcouncilsrilanka/ or call: 0766192370
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