Business
‘Hello Again’ virtual tourism awareness session held
Sri Lanka’s ambassador to the US Ravinatha Aryasinha has observed that the credibility Sri Lanka Tourism earned in caring for the tourists who made lengthy extensions of their stay in the country at the time COVID broke out, and Sri Lankan Airlines being one of the few carriers that continued to fly when most commercial airline fleets were grounded, should give confidence to international travelers to visit the island once again, now that travel for tourists has resumed.
Ambassador Aryasinha noted that prior to COVID curtailed global travel, tourist arrivals from the US had grown by 260% from 2010 to 2019, an annual average growth well over 20%, making the US one of the fastest-growing tourist arrival countries, which mainly drew niche tourists visiting and also staying longer.
The ambassador made these comments on January 27, when he hosted a virtual ‘Hello Again ; Sri Lanka tourism awareness session’ to announce the re-opening of Sri Lanka for international tourists from the January 21, and share details of the strategy adopted to ensures tourists enjoyed their stay, while being protected from COVID. The event was organized by the Sri Lanka embassy in Washington D.C., with assistance from the Sri Lanka Tourism Promotion Bureau and the Sri Lankan Airlines GSA office in the U.S., and attracted more than 60 tour & travel partners and media personal, including Expedia and Priceline.
Chairperson of Sri Lanka Tourism Kimarli Fernando said, Sri Lanka is “safe and exciting even during the pandemic”. She noted that “Sri Lanka does not require a minimum number of days to stay in Sri Lanka within the ‘Bio Bubbles’ introduced by the SLTPB. While staying in a secure level 1 hotel recognized by Sri Lanka Tourism, or multiple hotels if needed within the ‘Bio Bubble’, they could use all the facilities of the hotels including SPA, the pool and the restaurants and visit tourist sites within the bubble. These level 1 hotels which have been certified by KPMG, as well as Ernst & Young, provide accommodation exclusively for international tourists. After an initial 14 days of the stay within the ‘Bio Bubble’, travelers will be able to exit from it at any time subject to having a negative PCR test, and be able to interact with the local community. The tourists are required to undergo several PCR tests during their stay, and medical insurance with a premium of 12 dollars covered all the expenses related to transportation and ICU facility in the event of any difficulty.”
Joining the discussion, Chairman, Airport, and Aviation Major General (Rtd) G.A Chandrasiri welcomed passengers to the two Sri Lankan airports – Colombo and Mattala, and emphasized that maximum precautionary measures have been taken to ensure protection of the passengers’ safety.
CEO of the Sri Lankan Airlines Vipula Gunatileka said, although Sri Lankan does not fly to North America, through its strong partnership with ‘One World’, they have solid relationships with British Airways from Toronto, as well as with Qatar Airways and Japan Airlines, whereby Sri Lankan Airlines is able to help tourists from different gateways it has connections with.
Chairman of the Civil Aviation Authority Upul Dharmadasa said, the Civil Aviation Authority is working closely with the airlines around the world to facilitate the travel of tourists to Sri Lanka, and reviewing processes constantly to stay abreast of the latest health guidelines.
Sri Lankan Airlines GSA for US, Canada and the Caribbean Dilan Ariyawansa, elaborated on the connections from the various North American cities to Sri Lanka, and the prospects seen of increasing US travelers to Sri Lanka through the pandemic period and beyond.
Director Marketing of Sri Lanka Tourism, Dushan Wickramasuriya, highlighted the potential of the U.S market to attract tourists to different sectors in Sri Lanka – soft adventure, cruise travel, wellness tourism, wildlife, and to promote luxury villas. He said travel partners can also sell tailor-made itineraries encouraging tourists to travel to Sri Lanka to spend few days, when planning to visit countries like Thailand, Maldives, India and others in East Asia and South Asia.
The event coordinated by Second Secretary Niranga Palipana, concluded with an interactive session, where US travel partners sought clarifications and made suggestions on expanding the programme.
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SLT-Mobitel, the nation’s ICT and Telecommunications Service Provider recently partnered with Spotify, to mark their launch in Sri Lanka. Spotify is a paid premium music streaming app which allows subscribers to listen to music to their hearts content. Both, SLT-Mobitel Post-Paid and Pre-Paid customers will now be able to enjoy Spotify by activating a monthly recurring subscription or one-time subscription plan and access unlimited music streaming and downloading facilities.
The subscription charges will get added to the user’s customary billing, where payment will be deducted in real time. Starting from the payment date, the user will be able to access Spotify and download their favourite songs, for the next 30 days. Users who sign up for their first monthly subscription will receive an additional one month, courtesy of Spotify. The one-month subscription plan is not applicable with one-time subscription plans. SLT-Mobitel data rates, depending on the user’s respective broadband charges, will apply.
Spotify also has some exciting features that will provide SLT-Mobitel customers with the opportunity to listen to ad-free music, access millions of uninterrupted music under one platform, play any song they like, anywhere they go, and also be able to enjoy their music offline.
SLT-Mobitel customers can select their preferred premium package under four categories; Individual, Duo, Family, Student. Each category has recurring and non-recurring plans. After one month of free streaming, the package will activate once the offer period terminates. While both, the Individual and Student premiums are limited to one account user, the Duo package offers two accounts and the Family premium is accessible through six accounts. To view Spotify plans, users can log on to https://spoti.fi/3aLWvce
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by Sanath Nanayakkare
Anyone conversant with the elements of a political economy would know that Sri Lanka is using its ‘sovereign power’ to manage the different dynamics of the economy in a sustainable manner, Professor W. D Lakshman Governor of the Central Bank said on Wednesday.
“Some critics are saying that we adopt a so-called modern monetary theory. That’s not the case. In fact, Sri Lanka is using its sovereign power in a number of economic aspects to honour its external debt repayment commitments as well as to reduce its debt burden in the medium term as well as achieve resilient growth in the medium to long term, he said.
“We make policy decisions to boost our gross foreign reserves, meet our external debt servicing, to facilitate monetary expansion, to boost our GDP growth, to strengthen our current account balance and manage our domestic and external economic variables in a sustainable manner. This is not a modern monetary theory. This is an age-old tool used by central banks around the world when the circumstances demand it, he said.
“Certain trade-offs will be necessary when dealing with an economy which has a big fiscal gap to bridge. There are efforts to push Sri Lanka towards the IMF again which would in turn have influence on our policymaking. We have taken policy measures to stabilize the economy and we have adequate reserve levels to meet our debt repayments. Meanwhile, we are in negotiations with overseas central banks and multilateral agencies to further boost our reserve level and it would materialise within a matter of weeks,” he noted.
“One of the tools the Central Bank has introduced is in respect of repatriation of export proceeds into Sri Lanka and conversion of such proceeds into Sri Lankan rupees in order to strengthen the foreign exchange situation of the country,” he said.
The Governor made these remarks while delivering the keynote speech at a webinar organised by the Veemansa Initiative led by its Managing Director Luxman Siriwardene – the former Executive Director of Pathfinder Foundation.
The webinar revolved round the topic ‘External debt situation in Sri Lanka: Are we heading for a resolution or crisis?’
Professor Sirimal Abeyratne, Prof. Sumanasiri Liyanage, Dr. Nishan de Mel and Dr. Ravi Liyanage were the other speakers on the panel.
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By Hiran H.Senewiratne
CSE produced signs of a rebound yesterday with both indices closing positive, though turnover remained low. Central Bank Governor W.D Lakshman’s recent statement on managing foreign reserves gave some boost to the market yesterday, stock market analysts said.
The index experienced a zigzag movement within the early hours of trading; thereafter, it recorded a slight up-trend as it reached its intraday high of 7,439. Later, the market witnessed a down-trend at mid-day, followed by a sideways movement and closed at 7,372, gaining 43 points during the month of February, market sources said.
It is said the banking sector dominated turnover with a contribution of considerable parcel trades in Sampath Bank, Commercial Bank and HNB.
Further, the Commercial Bank’s impressive quarterly results during the recent turbulent period also built investor confidence. Commercial Bank was able to register a18 percent net interest income when other banks were reporting a decline. Its share price increased by Rs. 3 or 3.5 percent. On the previous day, its shares started trading at Rs. 85 and at the end of the day they moved up to Rs. 88. Due to the positive growth results, the bank announced a Rs. 4.40 dividend per share, plus a Rs. 2 script divergent for every share.
Further, Sampath Bank shares also appreciated in both crossing and retail. In crossings its shares appreciated by Rs. 1.At the end of the day they moved up to Rs. 154.50. In the retail market, its shares moved up by Rs. 2 or 1.3 percent. Previously, its shares fetched Rs. 154 and at the end of yesterday they moved up to Rs. 156.
Amid those developments, both indices moved upwards. The All Share Price Index went up by 104.48 points and S and P SL20 rose by 67.78 points. Turnover stood at Rs. 3 billion with four crossings. Those crossings were reported in Sampath Bank, where 3.9 million shares crossed for Rs. 602.2 million, its share price being Rs. 154.50, HNB 375,000 shares crossed for Rs. 39.4 million, its shares traded at Rs. 105, Pan Asia Power 9.5 million shares crossed for Rs. 33.2 million, its shares traded at Rs. 3.50 and Access Engineering 1.2 million shares crossed for Rs. 28.2 million; its shares traded at Rs. 24.
In the retail market top five companies that mainly contributed to the turnover were, Expolanka Rs. 450 million (10 million shares traded), JKH Rs. 205 million (1.3 million shares traded), Browns Investments Rs. 199 million (34.9 million shares traded), Sampath Bank Rs. 191 million (1.2 million shares traded) and Dipped Products Rs. 137.7 million (2.8 million shares traded). During the day 101 million share volumes changed hands in 18046 transactions.
During the day, Expolanka, the biggest contributor to the turnover, saw its share price appreciating by Rs. 6.20 or 15 percent. Its share price quoted on the previous day was Rs. 41 and at the end of trading yesterday it moved up to Rs. 47.
Sri Lanka’s rupee quoted wider at 193.50/195.50 levels to the US dollar in the spot next market on Thursday while bond yields remained unchanged, dealers said. The rupee last closed in the spot market at 194.50/195.00 to the dollar on Wednesday.
