President Ranil Wickremesinghe declared open the super-luxury hotel ‘ITC Ratnadipa Colombo’ which boasts Sri Lanka’s first ever sky bridge ‘AHASA ONE’ connecting two towers at a height of 100m above the ground.

ITC’s Hotel Group, one of India’s leading luxury hotel chains, is reported to have invested close to INR 3,000 crore in the luxury Sri Lankan property, which is being set up under a subsidiary WelcomHotels Lanka. The luxury hotel – ITC Ratnadipa in Colombo – reportedly features about 352 rooms.

The USD 500 million + ITC development, comprising the Sapphire Residences and super-luxury hotel ITC Ratnadipa, occupies pride of place at the centre of Colombo’s most prestigious ocean front location.

Overlooking the Galle Face and the Indian Ocean on one side and the Beira Lake on the other, this landmark is already redefining the city’s skyline.

Speaking at the event,President Ranil Wickremesinghe expressed his dedication to fostering an economic landscape in the nation that would prevent future struggles among its citizens. Emphasizing the swift reconstruction of the economy within a mere two-year span, he underscored his resolve to elevate the standard of living by fortifying the economy’s resilience.

extended a warm welcome, the President said, “ITC welcome to Sri Lanka.” He highlighted the prominent hotels in the vicinity, including the historic Galle Face Hotel which is bestowed as the first five-star hotel in Asia, the Taj Hotel from India and the Shangri-La Hotel from Singapore. He emphasized the significance of the newly established ITC Ratnadipa Hotel, positioned among these esteemed establishments by its height. He mentioned the forthcoming Cinnamon Life project located behind the hotel.

Prime Minister Dinesh Gunawardena, former Presidents Chandrika Bandaranaike Kumaratunga and Gotabhaya Rajapaksa, along with a host of ministers and dignitaries including Minister Ali Sabry P.C., Minister Prasanna Ranatunga, Senior Advisor to the President on National Security and Chief of Presidential Staff Sagala Ratnayaka, former Minister Ravi Karunanayake and Indian High Commissioner to Sri Lanka H.E. Santosh Jha, were among the distinguished guests present at the event. Also in attendance were General Shavendra Silva and the Chairman and Managing Director of ITC Ltd Mr. Sanjiv Puri among others.

Chairman of the ‘Magen Ratata’ organization – Sanjaya Mahawatta has submitted a formal complaint to the Governor of the Central Bank of Sri Lanka (CBSL), with regard to the “Pintanna Plantation” cultivation project founded by former cricketer – Kumara Dharmasena.

In his complaint, Mr. Mahawatta says that the project is accepting investment deposits from the public without a license from the CBSL to do so.

Noting that this project has misled the public and accepted deposits violating the provisions of the Part II of the Finance Business Act. No. 42 of 2011, Mr. Mahawattha’s complaint further notes that the project is being advertised on print media and on Facebook.

Overseas travel ban

Noting that there is a possibility of Mr. Dharmasena fleeing with these funds, Mr. Mahawatta has also urged the CBSL to seek an overseas travel ban against Mr. Dharmasena.

In a recent media briefing, the CBSL had stated that it is illegal to obtain investments from the public for cultivation projects such as Agarwood, Vanilla, Mango, Teak etc. in the promise of high interest rate returns. The CBSL added that their Non-Banking Financial Institutions Supervision Department has initiated a comprehensive investigation on such companies.

Speaking,  Assistant Governor of the CBSL – K.G.P. Sirikumara had said that it was a criminal offense to go against the rates implemented by the CBSL and accept deposits from the public.

Only companies authorized by the CBSL are legally allowed to accept such deposits, he pointed out.

The CBSL further disclosed that they are looking into details pertaining to the former cricketer’s project.

The price of imported milk powder will be reduced with effect from tomorrow (April 25), the Milk Powder Importers’ Association states.

Accordingly, the price of a 01 kg pack will drop by Rs. 250 – Rs. 300 while the price of 400g pack will be slashed by Rs. 100ත් – Rs. 130.