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Kandy Esala Perahera Festival Returns in Full Splendor After Pandemic Restrictions Lifted

Kandy Esala Perahera Festival Returns in Full Splendor After Pandemic Restrictions Lifted

Kandy, a historic city in Sri Lanka, buzzed with excitement during the Esala Perahera festival. The event showcased vibrant colors, mesmerizing dances, and deep-rooted traditions. After a year of restrictions, the festival returned, captivating local and global audiences.

Organizers adapted to new norms, ensuring a safe and memorable celebration. The event ran from August 13th to 23rd, 2021. It followed strict health guidelines while highlighting rich Sri Lankan culture.

Kandy Esala Perahera Festival Returns in Full Splendor

The festival was live-streamed in seven languages to promote Sri Lanka. These included English, Sinhala, Tamil, Thai, Chinese, Cambodian, and Japanese. This collaboration between tourism bodies attracted nearly 16,000 international viewers.

The Kandy Esala Perahera festival proves Sri Lankan resilience and adaptability. Organizers used technology to connect the physical and virtual worlds. This allowed people worldwide to experience the magic of this centuries-old tradition.

A Triumphant Comeback: Kandy Esala Perahera Festival Shines Brightly

Sri Lanka’s iconic Buddhist festival, the Kandy Esala Perahera, has returned after pandemic restrictions. Vibrant costumes, fire dances, and whip crackers once again grace Kandy’s streets. Locals and tourists are captivated by the mesmerizing spectacle.

Overcoming Pandemic Challenges

Festival organizers faced numerous hurdles due to the global pandemic. Their determination and careful planning brought back the event in full splendor. This successful comeback showcases the resilience of the Sri Lankan people.

Adapting to New Norms for a Safe Celebration

Safety measures have been implemented to protect participants and spectators. Social distancing and mandatory masks are now part of the event. These adjustments ensure a safe celebration without compromising the festival’s essence.

The Kandy Esala Perahera’s return brings hope and celebrates Sri Lanka’s cultural heritage. Ancient traditions blend with modern precautions, ensuring the festival’s continued success. This beloved event will undoubtedly thrive for generations to come.

The Essence of Kandy Esala Perahera: A Blend of Tradition and Spectacle

The Kandy Esala Perahera is a grand celebration in Sri Lanka. This 10-day festival showcases the country’s rich cultural heritage. Visitors flock to witness the stunning processions during the “Esala” month.

The event holds great historical significance for Sri Lankans. It blends Buddhist traditions with local folklore, creating a unique spectacle.

The Historical Significance of the Festival

The Kandy Esala Perahera dates back to the 4th century. It honors Lord Buddha’s sacred tooth relic, housed in Kandy’s Temple of the Tooth.

The festival also pays tribute to four guardian deities. These include Natha, Vishnu, Kataragama, and Goddess Pattini. This showcases the region’s diverse religious beliefs.

Key Elements of the Perahera Procession

Grand processions are the heart of the Kandy Esala Perahera. They feature traditional Kandyan dancers, fire performers, and skilled drummers.

The elephant pageant is a major highlight. Beautifully adorned elephants parade through the streets in colorful costumes.

A majestic tusker carries a replica of the sacred tooth relic casket. The processions create an atmosphere of joy and cultural pride.

The Role of the Sacred Tooth Relic

The sacred tooth relic is central to the Kandy Esala Perahera. It’s believed to have arrived in Sri Lanka in the 4th century.

The relic symbolizes sovereignty and is a source of blessings. The festival ends with a water-cutting ceremony at the Mahaweli River.

During this ritual, the sacred tooth relic is venerated. Blessings are invoked for the nation’s well-being and its people.

Kandy Esala Perahera Festival Returns in Full Splendor

Kandy’s ancient city bursts with life as the Esala Perahera festival returns. This ten-day event showcases Sri Lanka’s rich cultural heritage. Held annually in July-August, it features traditional dances, music, and a grand elephant parade.

Over 100 adorned elephants march in the festival’s spectacular procession. Hundreds of Kandyan dancers and drummers in traditional attire join them. The Esala Perahera includes five separate parades, each honoring different deities.

Vibrant Displays of Cultural Heritage

The Kandy Esala Perahera festival boasts a 1,600-year history. It’s a living testament to Sri Lanka’s enduring cultural traditions. The festival ends with a procession led by the Maligawa Tusker.

This special elephant carries a replica of the Sacred Tooth Relic. The relic is usually housed in Kandy’s Temple of the Tooth.

Mesmerizing Performances by Dancers and Musicians

Kandy’s streets pulse with the rhythmic beats of skilled drummers. Graceful Kandyan dancers, fire dancers, and whip dancers captivate onlookers. These performers wear elegant costumes that showcase Sri Lanka’s rich artistic heritage.

The Majestic Elephant Procession

A highlight is the merging of four devale peraheras. Each devale is dedicated to a specific deity. Dozens of adorned elephants create a majestic procession that amazes visitors.

This grand display draws people from around the world. They come to experience the essence of Sri Lankan culture and tradition.

Conclusion

The Kandy Esala Perahera festival has made a triumphant return in 2023. This centuries-old tradition dates back to the 3rd century BC. The event showcases Sri Lanka’s rich cultural heritage and religious significance in the sacred city of Kandy.

The festival’s core is the veneration of Buddha’s Sacred Tooth Relic. This relic has been central to the celebration since 310 A.D. The pageant features thousands of dancers, drummers, musicians, and majestic elephants.

The final night is the festival’s peak. It involves about 5,000 performers and 100 elephants. The event ends with the sacred Diya-kepeema ritual at the Mahaweli River in Getambe, Kandy.

The Kandy Esala Perahera’s revival shows Sri Lankan culture’s resilience. It brings joy and unity to the people of Sri Lanka. The event also proves the country’s dedication to preserving its heritage for future generations.

Sri Lanka faces challenges with changing agricultural policies and their economic impact. Yet, the Kandy Esala Perahera remains a symbol of hope and pride for all Sri Lankans.

Exports Surge by 15% in First Half of 2023

Exports Surge by 15% in First Half of 2023

Sri Lanka’s export sector has shown impressive growth in early 2023. Export earnings increased by 15%, boosting foreign exchange reserves and economic recovery prospects. This growth has improved Sri Lanka’s trade surplus and overall economic indicators.

The export surge stems from diverse efforts. The government, exporters, and industry partners worked to expand markets and improve product competitiveness. Key sectors like apparel, tea, spices, and value-added manufacturing contributed significantly to this export growth.

This positive performance has benefited the entire economy. It has led to better foreign exchange reserves and a more stable exchange rate. Investor confidence has also improved as a result.

Government support has been crucial in this export-led recovery. Trade facilitation, market access initiatives, and targeted incentives have all played important roles.

Maintaining export growth remains a top priority for Sri Lanka. The country aims to diversify its exports further and enter new markets. Attracting foreign investment in export-oriented industries is also a key goal.

With effective policies and support, Sri Lanka can use exports to drive economic growth. This approach positions the country for continued development in the coming years.

Key Takeaways

  • Sri Lanka’s exports surged by 15% in the first half of 2023, strengthening the economy.
  • Improved foreign exchange reserves and trade surplus contribute to economic recovery.
  • Diversification of export markets and products has been crucial to export growth.
  • Government support measures have played a vital role in boosting exports.
  • Sustaining export growth remains a top priority for Sri Lanka’s economic development.

Global Trade Trends Turn Positive in Q1 2024

Global trade saw a positive shift in Q1 2024. Merchandise trade grew 2.3% year-on-year, while services trade increased by 8%. This surge was driven by recovering export industries in China, India, and the US.

Favorable trade policies and eased pandemic restrictions boosted growth. Major economies implemented measures to support their export sectors. These actions helped revive international trade activity.

China, India, and US Drive Global Trade Growth

China, India, and the US led global trade growth in Q1 2024. China’s exports jumped 9%, India’s rose 7%, and the US saw a 3% increase. These nations benefited from rebounding global demand.

Europe’s exports remained flat, while Africa’s fell by 5%. This highlights the uneven nature of the global trade recovery. Some regions are bouncing back faster than others.

South-South Trade Sets the Pace

South-South trade outpaced developed countries in Q1 2024. Both imports and exports between developing nations grew by 2%. This trend shows the rising importance of cooperation among emerging economies.

Developing countries are investing in export industries and diversifying partners. As a result, South-South trade is becoming crucial for global growth. Trade policies that support this trend are gaining traction.

Green Energy and AI Sectors See Strong Surge

Green energy and AI sectors experienced robust growth in Q1 2024. High-performance server trade, vital for AI, increased by 25% compared to Q1 2023. Electric vehicle trade also jumped 25%.

These sectors reflect global priorities in sustainability and innovation. As countries focus on these areas, they’re expected to drive international trade growth. The trend highlights shifting global economic priorities.

UK Emerges as Key Market for Turkish Exports

Turkey’s exports are booming, with the UK becoming a major destination in early 2024. The UK ranked fourth for Turkish exports in January and February. Shipments totaled $1.95 billion, a 15.2% increase from last year.

The automotive industry drove this growth, with UK exports reaching $694.5 million. This marks a 37.1% increase. Strong bilateral trade relations boosted Turkey’s exports to the UK.

Trade volume between the two nations hit nearly $19 billion in 2023. This trend is expected to strengthen Turkey’s international trade position. Several Turkish provinces have boosted exports to the UK.

Istanbul, Kocaeli, Bursa, Sakarya, and Izmir lead the way. These trade collaborations benefit both the automotive sector and overall economic growth. The UK remains a key partner for Turkey’s expanding export markets.

Turkey’s economy has shown resilience, with exports surging 15% in early 2023. Real household consumption grew by 15.3% in 2021. Despite challenges, Turkey’s young population and reforms offer growth opportunities.

As bilateral trade with the UK flourishes, Turkey strengthens its global role. This fosters mutually beneficial trade collaborations. The UK remains a key export destination with potential for future growth.

Dr. Hans to Step Down from Axiata Group to Lead SL

Dr. Hans to Step Down from Axiata Group to Lead SL

Dr. Hans Wijayasuriya, a key figure in telecommunications, is leaving Axiata Group. He’s been with them for over 30 years. He played a major role in markets like Malaysia, Indonesia, and others. Now, he’s moving to head Sri Lanka’s digital drive.

Dr. Wijayasuriya won the 2024 GSMA Chairman’s Award for his global mobile industry work. He’s the new Chief Advisor to Sri Lanka’s President on Digital Economy. His work starts on January 15, 2025, advising on digital policies.

He’s still helping Axiata Group as CEO of Telecommunications Business. He’ll hold this position until he starts his new role in Sri Lanka. There, he aims to enhance the digital landscape. This move could position Sri Lanka to top Asian Frontier Markets in 2025.

Dr. Hans to Step Down from Axiata Group to Lead SL’s Digital Economy Agenda

Dr. Hans Wijayasuriya’s Departure from Axiata Group

For over three decades, Dr. Hans Wijayasuriya played a key role at Axiata Group. His work led to major changes in the telecommunications industry. He also began a leadership transition and corporate restructuring. Wijayasuriya’s guidance helped Axiata grow and reach new markets.

Celebrating a 30-Year Tenure and His Role in Telecommunications

Dr. Wijayasuriya spent more than 20 years leading Dialog Axiata. Under his watch, it grew into a top player in its market. With over 11 million customers, it moved from 4th to 1st place because of his efforts.

Axiata Group Leadership and Global Mobile Industry Impact

With Dr. Wijayasuriya in charge, Axiata Group made huge investments in Sri Lanka reaching $1.9 billion by 2015. He led the acquisition of MTT and expanded services. His push for digital solutions made Axiata a tougher competitor.

His work boosted Axiata’s operations and set the stage for future leadership. Key milestones during his time are listed in the table below:

Year Event Impact
1997-2000 Transition to Market Leader Established as No. 1 in Mobile Industry
2008-2009 Restructuring and Downsizing Rebounded within 6-8 Quarters Post-restructuring
2015 Investment in Sri Lanka Reached $1.9 Billion, Expanding Market Dominance

Transition Plan for Axiata Group and the Role of Dr. Wijayasuriya until 2025

Dr. Wijayasuriya is getting ready to leave. But a strong leadership transition plan is in place. He will advise until 2025 to help Axiata and Sri Lanka’s digital future. For more on Sri Lanka’s economy and politics, check this article.

This careful planning shows Dr. Wijayasuriya’s impact. It prepares future leaders for the changing world of telecommunications.

Dr. Hans to Step Down from Axiata Group to Lead SL’s Digital Economy Agenda

Dr. Hans Wijayasuriya is making a big change. He’s moving from Axiata Group to lead Sri Lanka’s digital economy. His goal is to boost technology use in different sectors to help the economy grow.

Appointment as Chief Advisor to President on Digital Economy

Dr. Wijayasuriya is now the Chief Advisor to President Anura Kumara Dissanayake. This move is huge for adding digital tech in government. He will focus on making departments like Customs and Inland Revenue work better online.

He plans to work with others to make the economy stronger through tech. This includes sharing technology and working together on economic development.

Strategic Vision for Sri Lanka’s Digital Transformation

Dr. Wijayasuriya has big plans for Sri Lanka’s digital future. He wants to spend money on digital tools and train a tech-savvy workforce. His aim is to make the country a tech leader in the area.

He has a plan that uses resources from both the public and private sectors. The goal is to remake digital systems to help Sri Lanka’s economy.

Leveraging Technology Adoption for Economic Development

Dr. Wijayasuriya believes using technology well can grow the economy. He wants to digitalize how the government works and support tech start-ups. The plan is to build a place where new tech leads to growth.

Working with global tech leaders is key to this strategy. Their expertise and money are important. They’ll help Sri Lanka grow in a digital world, offering both sustainability and big economic pluses.

Future Prospects: Envisioning Sri Lanka’s Digital Economy Under New Leadership

Sri Lanka’s digital economy is ready for a big change. Dr. Hans Wijayasuriya is leading this change. As the head of Dialog Axiata PLC, he brings a lot of experience. Dialog Axiata is the largest listed company on the Colombo Stock and the top foreign investor in the country. Under his leadership, Dialog Axiata’s revenue went up to Rs. 141.9 billion. This was an 18% increase from the year before, showing the power of strong digital infrastructure.

Dialog Axiata has over 17 million subscribers. In 2021, they invested about Rs. 31.7 billion in connectivity. This shows their commitment to improving Sri Lanka’s digital landscape. Because of this investment, revenue from Mobile and Fixed Broadband grew by 10% and 39%, respectively. With Dr. Wijayasuriya’s vision, Sri Lanka’s digital economy is set to get even better.

Dr. Wijayasuriya also advises the President on the digital economy. This shows Sri Lanka’s focus on digital growth. The Sri Lanka Digital Marketing Summit 2023 is a big event. It has leaders from big companies like Google and Meta. Dialog Axiata is the main sponsor and plays a big role in organizing it. This underlines their importance in boosting Sri Lanka’s digital ecosystem. Despite economic challenges, the push for digital growth is strong. This promises a future where technology leads to progress and resilience.

Musk’s Starlink Wins Sri Lanka Licence | Satellite Internet

Musk’s Starlink Wins Sri Lanka Licence | Satellite Internet

In a big step for telecommunications in Sri Lanka, the country now welcomes SpaceX’s Starlink. This marks a change in laws not seen in nearly 30 years. Sri Lanka is now a leader in South Asian broadband, thanks to Elon Musk’s vision.

Musk's Starlink Wins Sri Lanka Licence

SpaceX controls 60% of the world’s active satellites. This expansion is a big deal for the area. With Starlink in Sri Lanka, the night sky is now filled with over 6,000 satellites. This step not only improves broadband but also makes SpaceX a legend.

Starlink’s license in Sri Lanka is a big win. It promises better broadband and opens doors in nearby countries, like India. This move follows global space trends, showing how satellites connect us more than ever.

Starlink’s Expansion into South Asia with Sri Lankan Presence

Elon Musk’s Starlink initiative is a big leap in tech innovation, with new operations in Sri Lanka. This move shows a strong global interest in space and helps get rural areas in South Asia online. With over 6,000 satellites, Starlink plans to change how South Asia uses satellite internet, especially in hard-to-reach places.

Sri Lanka’s new telecom laws are key to this big step. They help foreign tech companies like Starlink start up easier. One big change is the 21st Amendment, which improves governance. It helps democracy too; more info here. This makes it easier for Starlink to launch, and may lead to more tech-friendly laws in nearby countries.

Elon Musk’s Strategic Move into Emerging Markets

By focusing on fast-growing places like Sri Lanka, Starlink aims for big growth. Bringing new tech here can close the digital gap and boost the economy. It fits Musk’s goal to make the internet available worldwide, especially where it’s most needed.

Impact of Sri Lanka’s New Telecommunications Legislation on Starlink’s Entry

New laws in Sri Lanka welcome tech companies. They support an open market and lower entry barriers for firms like Starlink. Thanks to these changes, Sri Lanka could lead tech innovation in South Asia.

The Promise of Improved Broadband Connectivity in Remote Regions

Starlink aims to improve internet access in Sri Lanka’s remote areas. This will help schools, hospitals, and businesses. Connecting these areas promises a new future of opportunity beyond physical limits, helping rural development.

This tech boost is set to transform education and healthcare in Sri Lanka. Plans are in place to mix tech with learning, explained here.

Musk’s Starlink Wins Sri Lanka Licence: A Milestone for SpaceX

Getting a licence for Starlink satellite internet in Sri Lanka is a big win for Elon Musk’s SpaceX. It marks a global impact with over 7,000 satellites orbiting the Earth since September 2024. Entering Sri Lanka’s market is key, especially with the country’s $37.5 billion debt and $503 million in debt payments by mid-2024.

SpaceX’s journey has been rapid, reaching 4 million users by September 2024 compared to 1 million in December 2022. Revenue jumped from $1.4 billion in 2022 to an estimated $6.6 billion in 2024. Still, Starlink’s creation cost at least $10 billion, facing challenges such as orbital congestion affecting astronomy.

The entry into Sri Lanka boosts SpaceX in the satellite net world and supports Sri Lanka’s tech and economic strategies. It’s a big step for Sri Lanka and SpaceX, bringing new opportunities for connectivity and growth.

Sri Lanka Central Bank Raises Interest Rates 2023

Sri Lanka Central Bank Raises Interest Rates 2023

The Central Bank of Sri Lanka has raised key policy interest rates to fight inflation. This move aims to support economic recovery and align with IMF negotiations. The CBSL increased the SDFR and SLFR by 100 basis points each.

This rate hike addresses Sri Lanka’s high inflation, which peaked in September 2022. The economy shrank by 9.2% last year, with inflation hitting 50% in February. The central bank had already raised rates by 950 basis points in 2022.

Central Bank Raises Interest Rates to Combat Soaring Inflation

The CBSL’s decision aligns with IMF staff recommendations. It’s a key step towards securing the $2.9 billion IMF bailout package. Sri Lanka is restructuring its debt before IMF funds can be released.

The country seeks approval under a special Lending Into Official Arrears policy. India and the Paris Club of creditors have offered their support in this process.

These changes aim to reduce the gap between policy and market interest rates. The CBSL expects single-digit inflation by late 2023. They also anticipate a continued decrease in market interest rates.

Stable monetary policies are crucial for Sri Lanka’s economic recovery. They support long-term growth and reinforce the importance of price stability. These measures are essential for sustained economic development in the country.

Central Bank Raises Interest Rates to Combat Soaring Inflation

Sri Lanka’s Central Bank has raised policy interest rates to tackle rising inflation. This action aligns with IMF negotiations and the Extended Fund Facility arrangement. The goal is to reduce the gap between policy and market interest rates.

This move aims to ease pressure on consumer spending and the overall economy. It’s a crucial step towards economic stability and growth.

Interest rates and cost of borrowing

Monetary Board Decision to Raise Policy Interest Rates

The Central Bank’s Monetary Board agreed with IMF staff to increase policy interest rates. The raise was smaller than initially planned during negotiations. This decision helps fulfill ‘prior actions’ needed for the IMF Extended Fund Facility arrangement.

Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) Increased

The Monetary Board increased the Standing Deposit Facility Rate to 15.50%. They also raised the Standing Lending Facility Rate to 16.50%. These changes took effect from March 3, 2023.

This decision shows the Central Bank’s commitment to fighting inflation and stabilizing the economy. It’s a significant step towards financial stability.

Policy Rate Previous Rate New Rate (Effective 03 March 2023)
Standing Deposit Facility Rate (SDFR) 14.50% 15.50%
Standing Lending Facility Rate (SLFR) 15.50% 16.50%

Impact on Lending Rates and Cost of Borrowing

The policy interest rate increase will affect lending rates and borrowing costs in Sri Lanka. Higher rates may reduce consumer spending and investment as borrowing becomes pricier.

However, this measure is crucial to control inflation and prevent future economic instability. It’s a necessary step towards long-term financial health.

Reasons Behind the Interest Rate Hike

Sri Lanka raised interest rates to support its IMF-EFF arrangement. This move aims to boost economic stability and attract foreign exchange. It’s part of ongoing talks with the IMF to tackle economic challenges.

The Monetary Board expects this hike to close the gap between policy and market rates. As Sri Lanka restructures its debt, this gap should shrink further. This will create a more stable financial environment for growth.

Negotiations with the International Monetary Fund (IMF)

Sri Lanka is working closely with the IMF for economic recovery. The IMF’s support is crucial for addressing current challenges. Their involvement will guide economic reforms and debt restructuring for long-term stability.

Commitment to the IMF Extended Fund Facility (EFF) Arrangement

The interest rate hike shows Sri Lanka’s dedication to the IMF-EFF plan. This plan outlines steps for economic recovery. Following this arrangement aims to restore confidence and attract foreign investment.

Aim to Lower the Spread Between Policy Interest Rates and High Market Interest Rates

Raising interest rates should help align policy and market rates. This alignment is key for financial stability. As debt restructuring progresses, the rate spread should narrow further.

Conclusion

The Central Bank of Sri Lanka’s interest rate hike aims to ensure price and economic stability. This decision aligns with the IMF Extended Fund Facility (EFF) arrangement. It’s a crucial step towards normalizing the interest rate structure and combating inflation.

The rate increase is expected to quickly slow down inflation. Similar actions by central banks worldwide have shown positive results. The US Federal Reserve and European Central Bank have also raised rates to address rising prices.

Rising rates may challenge emerging economies’ financial stability and capital inflows. However, Sri Lanka remains committed to overcoming these obstacles. The country’s focus on stability aims to create a growth-friendly environment.

The recent surge in Sri Lanka’s agricultural exports shows the nation’s resilience. This growth potential supports the country’s economic recovery efforts.

Sri Lanka’s proactive approach to economic challenges is clear. The Central Bank’s actions and commitment to the IMF arrangement demonstrate this. These efforts position the country well for sustainable growth and a prosperous future.