Business

‘Thank you India’ – Sri Lankans come together in a spirit of gratitude for India’s help in our hour of need

Published

4 years ago

2022/09/3

In what could be called a spontaneous outpouring of gratitude, huge number of Sri Lankans from all walks of life came together and filled the Grand Marquee to thank India for all of the support extended to Sri Lanka towards overcoming the economic obstacles the country has been facing. In attendance was The High Commissioner for India in Sri Lanka Gopal Baglay and the Minister of External Affairs Ali Sabry.

The event was organized by Sri Lankans with the thought of extending appreciation for the lifeline India threw to Sri Lanka at a time when the country was facing unprecedented challenges as a nation since Independence.

Several distinguished Sri Lankans expressed their sentiments of goodwill towards their neighbour India, stressing on the common cultural and social values the two countries share. Citizens’ outpouring of gratitude towards India for reaching out to Sri Lanka in her time of acute need, was not only timely but also appropriate given the consistent level of co-operation between the two countries.

Ven. Dr Kosgoda Sri Subhuthi Anunayake Thero, Ven Dr. M Wimalasara Thero, Prof. Mallawa Handy Jagath Ravindra, Dr. Vinya Ariyaratne, Ms Kimarli Fernando, Ms Nayomini R Weerasooriya, Naveen Gunaratna, Mahen Amarasuriya, Balraj and Ravindran spoke at the event which was attended by several eminent Indians and Sri Lankans.

Every speaker presented his or her unique insights on the historic, cultural, social and the common interests and values shared by both countries, recalling personal anecdotes and occasions of warmth and sincerity between the two nations.

In acknowledging the sentiments expressed by the citizens of Sri Lanka, The High Commissioner stressed the uniquely historic ties between the two countries. Helping the closest neighbour in a spirit of brotherhood and fellowship was a key aspect in that relationship, he added. High Commissioner Baglay mentioned that India and Sri Lanka are “Sahodaraya” (born from the same womb) so it’s but natural for us to do “sahayog “, which is to help each other as part of one family.

Addressing the audience, Minister Ali Sabry stated that the help from India couldn’t have come at a more pertinent time; given the fact that if help did not come at the time it did, there was a possibility of systems collapse which could have been disastrous. He also acknowledged the exceptional level of support given by India and the crucial role played by Ms Nirmala Seetharaman, the Indian Minister of Finance, in enabling Sri Lanka to engage with the IMF at the start.

In a true manifestation of India’s ‘Neighbourhood First’ policy under which India responds expeditiously to urgent needs of her neighbours, India extended assistance towards Sri Lanka’s economic recovery in excess of USD 3.8 billion and was made available in critical areas, such as, food, medicines, fuel and other essentials. In a Neighbour First policy of reaching out to its closest neighbour in its hour of need, India has reiterated and upheld the common bond of friendship between the two nations.

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

7 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

7 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

7 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.