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Arjuna Ranawana CAREER HISTORY Ceylon Newspapers Pvt, Ltd 2016 Current Director Editorial Supervising Editors of CeylonToday Daily and Sunday Newspapers Canadian Broadcasting Corporation 2015 - 2016 Producer Province of Alberta Supervise and assign staff producing content for Web, Social Media, Radio and TV Rogers Broadcasting Ltd 2008 - 2015 News Manager Omni Television Toronto, Ontario 2013 - 2015 Edmonton, Alberta 2008 - 2013 Sri Lanka College of Journalism – Colombo Sri Lanka 2007 - 2008 Director Maharaja Broadcasting Ltd – Colombo Sri Lanka 2006 Director News Rogers Broadcasting Ltd – Toronto ON, Canada 2003 - 2006 Anchor/Coordinator, Omni News South Asian Edition Toronto Star Newspaper – Toronto ON 2003 Copy Editor Copy-edited news stories on the Universal Desk Ceylon Daily News – Colombo Sri Lanka 2002 - 2003 Editor in Chief Asiaweek Magazine, a Time-Warner Company 1989 - 2001 Staff Correspondent
Portfolio
Fitch Affirms Hayleys at ‘AAA(lka)’; Outlook Stable
Fitch Ratings has affirmed Sri Lankan conglomerate Hayleys PLC’s National Long-Term Rating of ‘AAA(lka)’ with a stable outlook, citing its large operating scale and diversification across several prominent businesses. The company’s revenue is expected to rise by 7% in FY25, driven by defensive segments like hand protection, agriculture, and purification. Hayleys’ manufacturing locations are diversified beyond Sri Lanka, with significant operations in Thailand and Indonesia. Despite high costs and modest leverage, the company’s financial profile is expected to remain stable. Comparisons with other domestic conglomerates like Melstacorp PLC, Hemas Holdings PLC, and Sunshine Holdings PLC highlight Hayleys’ strengths and challenges. The article also discusses the broader economic context, including Sri Lanka’s inflation targets and economic recovery.
Bangladesh a surprising economic success
Bangladesh has experienced the fastest and most stable GDP growth among developing countries over the last three decades, transitioning from a low-income nation to one of the top 40 global economies. With a per capita income now over USD 2000 and a significant reduction in poverty rates, Bangladesh is predicted to graduate from Least Developed Country status by 2026. The country's economic success was attributed to government facilitation, garment exports, remittances, and significant economic liberalization. The webinar organized by the Friedrich Naumann Foundation for Freedom South Asia highlighted the need for further liberalization and diversification of income sources. Non-Governmental Organizations have also played a crucial role in societal improvements, including education and health. The country faces future challenges as it may lose special tariff rates with increased national income and needs to compete in global markets. The webinar also addressed the need for more women-friendly infrastructure to increase female workforce participation.
Sri Lanka’s Easter Bombings: A Preventable Tragedy
Five years after Sri Lanka's Easter Sunday bombings, questions remain about the preventability of the tragedy. Investigations reveal intelligence failures and potential connections to covert military groups. Despite substantial information on the attackers, authorities failed to act on warnings, leading to criticism of government leaders. Political parties propose reforms to ensure justice, but skepticism remains about their implementation. The article highlights the need for accountability and the challenges in achieving justice for the victims.
Sri Lanka motor racing crash claims 7 lives, 4 critical
A tragic accident at the Fox Hill Super Cross motor race in Diyathalawa, Sri Lanka, resulted in the deaths of at least seven spectators and left four others critically injured. The incident occurred when a racing vehicle veered off the track and crashed into the crowd. The event, which attracts thousands of spectators, saw another 21 individuals injured and hospitalized. The police are investigating the accident, which has raised concerns about public safety at such events.
Sri Lanka stocks close up, turnover tops 1bn
The Colombo Stock Exchange saw an increase with the All Share Index closing up 0.06 percent. High turnover was driven by trades in John Keells Holdings and Expolanka Holdings. The tourism industry faces criticism over a controversial minimum room rate scheme, which travel agents argue is anti-competitive and could be illegal in other markets. The scheme is said to benefit a cartel of run-down hotels at the expense of newer, more competitive properties. The Sri Lanka Tourism Development Authority has been criticized for not lifting the price control as promised. Additionally, the State Minister of Indigenous Medicine, Sisira Jayakody, has announced plans to integrate Ayurvedic medicine into the tourism industry with the establishment of 'Body Mantra' massage centres.
Sri Lanka tea production up 1.4-pct in Jan 2024, exports up 6.8-pct
Sri Lanka's tea production increased by 1.4% to 18.73 million kilograms in January 2024, with low and mid-grown tea production rising while high-grown tea production fell. Exports, including re-exports, rose by 6.88% to 18.76 million kilograms, with export earnings reaching 102 million USD. The top buyers were Iraq, UAE, and Russia. The average FOB price per kilogram decreased from last year. The data was published by Ceylon Tea Brokers.
Sri Lankans may need to wait for Monetary Board meeting minutes despite new Act
Sri Lankans may have to wait longer to access the Central Bank’s Monetary Board meeting minutes despite a new act aimed at increasing transparency and accountability. The Central Bank has yet to decide on releasing these minutes, although it has started implementing other transparency measures such as the Monetary Policy Report. The Central Bank's past decisions, including printing money to keep interest rates low and propping up the rupee, contributed to the 2022 economic crisis. No top officials have been held accountable for these decisions.
Sri Lanka's Rajapaksas hope to tighten grip on power in election
Sri Lankan President Gotabaya Rajapaksa aims to consolidate power in an upcoming election, potentially elevating his brother Mahinda Rajapaksa to prime minister. The Rajapaksa brothers, known for their Sinhalese Buddhist nationalist stance, seek to amend the constitution to restore presidential powers diluted by previous reforms. The election, postponed due to COVID-19, will see voters adhering to safety protocols. Analysts suggest Mahinda is favored to win, given the brothers' support among the Sinhalese majority. The outcome could enable significant constitutional changes, impacting the balance of power in Sri Lanka.
Sri Lanka navy holds blazing supertanker off east coast
Sri Lanka's navy is managing an abandoned supertanker, New Diamond, off its east coast after a fire broke out in the engine room and spread to the bridge. The vessel, carrying about 2 million barrels of oil, is being held 40 km from the shore to prevent potential oil spill damage. The fire, now under control, was contained with the help of the Indian and Russian navies. The ship, chartered by Indian Oil Corp, was en route from Kuwait to India's Paradip port.
Sri Lanka navy holds blazing supertanker off east coast
Sri Lanka's navy is managing an abandoned supertanker, New Diamond, off its east coast after a fire broke out in the engine room and spread to the bridge. The vessel, carrying about 2 million barrels of oil, is being held 40 km from the shore to prevent potential oil spill damage. The fire, now under control, was contained with the help of the Indian and Russian navies. The ship, chartered by Indian Oil Corp, was en route from Kuwait to India's Paradip port.
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