VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., and a leading worldwide provider of information technology (IT) consulting and outsourcing services, announced that, Madu Ratnayake, executive vice president, CIO and head of business process excellence, has been recognized as one of India’s Top 50 CIOs in the latest edition of “India’s Best CIOs Awards”, a joint property of Dell EMC and CIO Association of India.
Mr. Ratnayake received this award for his brainchild V+ – VirtusaPolaris’ human performance engineering system. On accepting the award Mr. Ratnayake said, “I am truly honored by the peer recognition for the incredible effort our teams has put in to create a future ready employee engagement platform that has enabled us to create a high performing and innovative work place VirtusaPolaris for our millennial employees. Our vision is to build a digital platform to embrace future of work to transform the way we work, learn, share and connect for our team members and with our clients. ”
“It is indeed a proud moment for us to have Madu recognized as one of India’s top 50 CIOs. Receiving this honor further highlights Madu’s dedication in driving growth in business through innovation based on domain and technology. He is an exemplary leader and adds great value to the organization,” said Kris Canekeratne, chairman and chief executive officer, Virtusa Corp. “As a company, we are committed to building a great global firm that attracts, develops, inspires and retains exceptional talent. Combining this with our innovation heritage and engineering expertise has allowed us to create a compelling platform like V+ that sets the benchmark on engaging a millennial workforce and creating the digital-enabled environment where they can flourish and grow.”
VirtusaPolaris V+ social business platform is designed to transform the way global software engineering teams work. It is a unique technology platform designed and developed in-house to transform the way teams, work, learn, share and connect – ultimately improving business agility, productivity and innovation. The platform creates a next-gen work environment by providing a social experience akin to platforms like YouTube, Google, Facebook, LinkedIn and Wikipedia for teams to collaborate along with gamification and crowdsourcing to engage and tap in to collective intelligence in the company.
The major objective of CIO Association of India is to work towards enriching the CIO’s leadership and help disrupt the CIO and Start-up CTO recognition programs in the country and to provide platform that helps CIOs network at large.
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VirtusaPolaris’ CIO Madu Ratnayake recognized as one of India’s best 50 CIOs by CIO Association of India
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Harvard University to conduct Online Economic Diplomacy Course for Officials of the Foreign Ministry and Commerce Department
As part of its economic diplomacy role, the Ministry of Foreign Affairs has undertaken a unique initiative to design and implement an online Economic Diplomacy Course catering to Sri Lanka’s specific economic needs and challenges. This Course is a result of the Foreign Ministry’s collaboration with the Department of Commerce and Harvard University, one of the most prestigious Universities in the world.
The ceremonial launching of the Course was held today, 7th March 2017 at the Ministry of Foreign Affairs presided over by the Acting Minister of Foreign Affairs Harsha de Silva. Also participating at the event were Mrs. Sonali Wijeratne, Director General, Department of Commerce; Professor Matt Andrews, Senior Lecturer, Harvard University Center for International Development (HCID); invited guests and officials selected to take part in the Course.
This is the first time that the HCID is offering this course, with Sri Lanka being the first country to engage with the Center to design a course catering to its specific needs.
Acting Minister of Foreign Affairs speaking at the event said that Sri Lanka has fallen behind other countries in the region in terms of exports and attracting FDI and that it was vital that we reinvigorate our efforts to achieve the ambitious economic targets set by the Government. In this regard, the Heads of Missions and Commercial Officers at Sri Lanka Missions abroad play a vital role as they are in a position to directly interact with foreign governments and private sector companies and to encourage them to utilize Sri Lanka’s opportunities and capabilities. The Course aims to enable diplomatic officers in Sri Lanka Missions abroad to play a more proactive role in spearheading the government’s policies pursuing exports and foreign direct investment.
The course is spread over 18 weeks and comprises action-oriented practical lessons to ensure that the officers learn while engaging in their day-to-day work. The selected participants include approximately 35-40 Government officials, including Head of Missions and Commercial Officers in 15-20 Sri Lanka Missions abroad and in Colombo.
Mrs. Sonali Wijeratne, Director General of the Department of Commerce highlighted the challenges Sri Lanka is facing in diversifying its export basket. Prof. Matt Andrews addressing the gathering cited examples of countries which were able to effectively utilize their Foreign Missions to enhance trade and investment opportunities. He added that the Course is a demanding one that would impart the skills, knowledge and abilities that would enable officers to effectively market Sri Lanka’s potential.
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John Keells Holdings continue to power CA Sri Lanka with lead sponsorship
Leading conglomerate, John Keells Holdings PLC (JKH) continued to power the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) with yet another lead sponsorship, in an effort to help the professional body continue to develop and enhance the accounting profession in the country.
JKH Group Finance Director Mr. Ronnie Peiris said that JKH is pleased to continue supporting CA Sri Lanka with the lead sponsorship. “JKH recognizes the efforts made by CA Sri Lanka in enhancing the quality of Financial Statements, Public Disclosure and Public Information and believes that its regular, and close, interaction with CA Sri Lanka has enabled the continuous improvement in the content, and thereby the relevance of its Financial Statements,” he said.
JKH has been supporting CA Sri Lanka with successive lead sponsorships since 2007.
Welcoming, JKH on board once again, President of CA Sri Lanka Mr. Lasantha Wickremasinghe highlighted that the continuing support by the country’s leading conglomerate is a strong testament of the confidence JKH has on CA Sri Lanka and its continuing efforts to enhance the accounting profession.
“We are delighted to partner with JKH once again, and I am most certain that this partnership will be mutually beneficial to both John Keells Holdings and CA Sri Lanka,” Mr. Wickremasinghe added.
Photo – John Keells Holdings Group Finance Director Mr. Ronnie Peiris and Group Financial Controller Mr. Mano Rajakariar handing over the lead sponsorship cheque to CA Sri Lanka President Mr. Lasantha Wickremasinghe, Vice President Mr. Jagath Perera and Chief Financial Officer Mr. Aruna Alwis.
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IMF Staff Concludes Visit to Sri Lanka to Discuss Progress of Economic Reform Program
A staff team from the International Monetary Fund (IMF) led by Jaewoo Lee visited Colombo during February 21-March 7, 2017 to hold discussions on the second review of the Sri Lankan authorities’ economic program that is being supported by a three-year Extended Fund Facility (EFF). The program aims to support the authorities’ ambitious reform agenda to put public finances on a sustainable footing and create space for its social and development program. At the end of the visit Mr. Lee made the following statement:
“The mission made significant progress toward reaching a staff level agreement with the government on completion of the second review. Discussions will continue in April in Washington D.C. during the Spring Meetings of the IMF and World Bank.
“Overall, macroeconomic performance in the second half of 2016 was mixed with gradually recovering growth and an uptick in inflation due to the impact of drought and the VAT increase. The current account remained stable, but the financial account weakened with the resumption of capital outflows. A more prolonged drought could raise food and oil imports with adverse impact on growth, inflation, and the balance of payment.
“The mission commends the authorities for strong efforts in implementing their IMF-supported economic reform program with all fiscal quantitative targets through end-December being met. Substantial progress has been made in stepping up revenue collections and automating revenue administration, which has been the basis for meeting fiscal targets. However, net international reserves fell short of the target and progress on implementing structural benchmarks was somewhat uneven with some of the reforms lagging behind intended timelines. Accordingly, the mission and the authorities have discussed decisive actions to maintain the reform momentum in light of uncertain external environment.
“To this end, it is important for the government to continue on the revenue based fiscal consolidation and generate adequate resources to support its social and development objectives while maintaining debt sustainability. Notably, advancing the legislative process for the new Inland Revenue Act, with effective public consultations, is a critical step towards rebalancing the tax system toward a more predictable, efficient and equitable structure.
“The mission encourages the Central Bank of Sri Lanka (CBSL) to remain vigilant in monitoring inflation pressures and stand ready to tighten monetary policy if inflation or credit growth does not abate. In light of mounting external pressures, the mission encourages the CBSL to take stronger actions towards rebuilding international reserves and maintaining exchange rate flexibility. In this regard, the mission and the authorities discussed IMF technical assistance to facilitate transition to flexible inflation targeting framework.
“The mission also encourages the government to accelerate implementation of structural reforms in public financial management and state owned enterprises (SOEs), building on the substantial technical assistance received so far. In this regard, finalizing and publishing Statements of Corporate Intents for large SOEs is the first necessary step for enhancing transparency and accountability in the reform process. The mission also supports the ongoing work to design reforms in the business environment and competitiveness which are supported by a number of development partners.”
The mission met with Prime Minister Wickremesinghe, Finance Minister Karunanayake, Governor of the Central Bank of Sri Lanka Coomaraswamy, parliamentarians, other public officials, and representatives of the business community, civil society and international partners.
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S&P says Sri Lanka’s ‘B+/B’ ratings affirmed
(Reuters)
* S&P says Sri Lanka ‘B+/B’ ratings affirmed; outlook remains negative
* During 2017-2020, expect fiscal consolidation to reduce borrowing further
* High external debt, and low reserves continue to make sri lanka vulnerable to external shocks
* Project annual growth in general government debt to average 4.4% of GDP for 2017-2020
* Forecast the trade deficit to amount to 9.3% of gdp in 2017, a slight improvement from an estimated 10.0% in 2016
* Believe the country will most likely maintain growth in real per capita GDP of 4.5% per year over 2017-2020 Source text : bit.ly/2mwt7Oy
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Are women at risk in the 4th Industrial Revolution?
We are entering what is widely referred to as the 4th Industrial Revolution, an era where the development of new materials, breakthroughs in the field of genetic engineering and digital transformation are increasingly blurring the lines between the physical, biological and digital worlds.
With multiple industries being disrupted, those without the relevant skills for the future workplace stand to be at risk. The bad news is that women are likely to be disproportionately negatively impacted, according to a World Economic Forum study. One key reason is because that they are relatively under-represented when it comes to jobs which are expected to have the most growth in the next five years in STEM (science, technology, engineering, mathematical) professions.
Diversity and inclusion is widely recognized as important competitive strengths. This also means there is tremendous opportunity for women to play a central role in driving innovation and progress.
According to a list of the Most Promising Jobs of 2017 published by LinkedIn, the top 20 occupations require STEM skills. Despite the opportunities, though, there remains a persistent gender gap. Globally, UNESCO estimates that only about 3 in 10[i] researchers in science, technology and innovation are female while LinkedIn estimated that women account for only about 2 in 10 tech jobs.[ii]
![Microsodt-01]()
[i] UNESCO http://www.unesco.org/new/en/natural-sciences/priority-areas/gender-and-science/
[ii] 2016 LinkedIn Workforce Diversity Report https://careers.linkedin.com/diversity-and-inclusion
What could be deterring more girls and young women from entering a field that offers the skills and knowledge that could change the world? Here are four common misperceptions:
Myth #1: STEM education only matters at higher education levels.
In reality, STEM is an interdisciplinary approach towards educating students in four specific disciplines – science, technology, engineering and mathematics. Rather than teach them as separate subjects, STEM integrates them into a cohesive learning model based on real-world applications.[i]
Increasingly considered a fundamental skill for a basic education and a job, STEM also opens doors for young women to higher education and exciting jobs. A path in STEM could pave the way to a wide spectrum of degree fields including Computer Science, Artificial Intelligence (AI), Solar Energy Technology and Robotics Technology.[ii] On a more fundamental level, learning STEM subjects provides critical thinking and problem-solving skills that will be needed across all jobs of the future.
Myth #2: STEM skills are only useful for STEM jobs.
In a technology-driven world, a vast majority of jobs require STEM skills in one form or another. Globally, companies and organizations are also evolving the way they operate and do business. Part of that evolution involves recruiting key talent – men and women with the mental agility to help businesses succeed.
![Microsodt-02]()
[i] http://www.livescience.com/43296-what-is-stem-education.html
[ii] https://www.ice.gov/sites/default/files/documents/Document/2016/stem-list.pdf
For girls and young women pursuing a path in STEM, the critical thinking and problem-solving skills developed will be highly sought after in the economy of the future. In fact, the World Economic Forum estimates that a third of future jobs across all industries will require problem-solving skills. Armed with fresh perspectives, new ideas and complex problem-solving skills, women are set to drive change in big ways.
Myth #3: STEM is boring and doesn’t involve creativity.
In a Mastercard survey of approximately 1,500 girls from across the Asia Pacific region between 12 and 19 years of age, 84 per cent indicated creativity as a desirable trait but only 43 per cent associated girls in STEM with this quality.[i]
In reality, creativity and problem-solving skills are integral to a successful career in STEM. Dona Sarkar is an excellent example.[ii] The newly appointed leader of the Windows Insider Program, Microsoft’s global beta program involving millions of members who receive and give feedback on early builds of Windows, Sarkar has come a long way since starting as a software engineer working on the Windows team more than a decade ago.
For her, coming up with creative solutions that enrich and improve people’s lives is central to her work and she believes that technology or, more specifically, operating systems provide the means to create anything. Sarkar is also the one who worked with her team to create Microsoft HoloLens, the first self-contained, holographic computer.
True to form, she wears multiple creative hats even in her personal life where she is a published author of four books, a fashion blogger and an aspiring fashion designer. Whether she is coding or sketching designs by hand, creativity is an intrinsic part of everything she does.
![Microsodt-03]()
[i] Mastercard “Girls in Tech” research http://newsroom.mastercard.com/asia-pacific/press-releases/parents-are-crucial-influencers-for-girls-pursuing-stem-careers/
[ii] https://news.microsoft.com/stories/people/dona-sarkar.html
Myth #4: Men are more likely to succeed in STEM fields than women.
Unfortunately, gender stereotypes exist and perpetuate even in the modern world today. With access to the right technology, education and opportunities, women have the power to challenge perception and chart new paths into the future.
Across a span of almost 200 years, these 10 inspiring women the likes of Ada Lovelace and Grace Hopper helped to transform the world we live in by pioneering technologies that many of us find hard to live without today, proving that women are just as capable of achieving great success in STEM fields.
There is no better time than on International Women’s Day to celebrate diversity and the incredible potential of women and girls to make an exponential impact in the world. Through initiatives that provide support and opportunities in computer science and technology, we hope to inspire girls with courage and a huge dose of creativity to go beyond prescribed boundaries to #MakeWhatsNext, today.
[i] UNESCO http://www.unesco.org/new/en/natural-sciences/priority-areas/gender-and-science/
[ii] 2016 LinkedIn Workforce Diversity Report https://careers.linkedin.com/diversity-and-inclusion
What could be deterring more girls and young women from entering a field that offers the skills and knowledge that could change the world? Here are four common misperceptions:
Myth #1: STEM education only matters at higher education levels.
In reality, STEM is an interdisciplinary approach towards educating students in four specific disciplines – science, technology, engineering and mathematics. Rather than teach them as separate subjects, STEM integrates them into a cohesive learning model based on real-world applications.[i]
Increasingly considered a fundamental skill for a basic education and a job, STEM also opens doors for young women to higher education and exciting jobs. A path in STEM could pave the way to a wide spectrum of degree fields including Computer Science, Artificial Intelligence (AI), Solar Energy Technology and Robotics Technology.[ii] On a more fundamental level, learning STEM subjects provides critical thinking and problem-solving skills that will be needed across all jobs of the future.
Myth #2: STEM skills are only useful for STEM jobs.
In a technology-driven world, a vast majority of jobs require STEM skills in one form or another. Globally, companies and organizations are also evolving the way they operate and do business. Part of that evolution involves recruiting key talent – men and women with the mental agility to help businesses succeed.
[i] http://www.livescience.com/43296-what-is-stem-education.html
[ii] https://www.ice.gov/sites/default/files/documents/Document/2016/stem-list.pdf
For girls and young women pursuing a path in STEM, the critical thinking and problem-solving skills developed will be highly sought after in the economy of the future. In fact, the World Economic Forum estimates that a third of future jobs across all industries will require problem-solving skills. Armed with fresh perspectives, new ideas and complex problem-solving skills, women are set to drive change in big ways.
Myth #3: STEM is boring and doesn’t involve creativity.
In a Mastercard survey of approximately 1,500 girls from across the Asia Pacific region between 12 and 19 years of age, 84 per cent indicated creativity as a desirable trait but only 43 per cent associated girls in STEM with this quality.[i]
In reality, creativity and problem-solving skills are integral to a successful career in STEM. Dona Sarkar is an excellent example.[ii] The newly appointed leader of the Windows Insider Program, Microsoft’s global beta program involving millions of members who receive and give feedback on early builds of Windows, Sarkar has come a long way since starting as a software engineer working on the Windows team more than a decade ago.
For her, coming up with creative solutions that enrich and improve people’s lives is central to her work and she believes that technology or, more specifically, operating systems provide the means to create anything. Sarkar is also the one who worked with her team to create Microsoft HoloLens, the first self-contained, holographic computer.
True to form, she wears multiple creative hats even in her personal life where she is a published author of four books, a fashion blogger and an aspiring fashion designer. Whether she is coding or sketching designs by hand, creativity is an intrinsic part of everything she does.
[i] Mastercard “Girls in Tech” research http://newsroom.mastercard.com/asia-pacific/press-releases/parents-are-crucial-influencers-for-girls-pursuing-stem-careers/
[ii] https://news.microsoft.com/stories/people/dona-sarkar.html
Myth #4: Men are more likely to succeed in STEM fields than women.
Unfortunately, gender stereotypes exist and perpetuate even in the modern world today. With access to the right technology, education and opportunities, women have the power to challenge perception and chart new paths into the future.
Across a span of almost 200 years, these 10 inspiring women the likes of Ada Lovelace and Grace Hopper helped to transform the world we live in by pioneering technologies that many of us find hard to live without today, proving that women are just as capable of achieving great success in STEM fields.
There is no better time than on International Women’s Day to celebrate diversity and the incredible potential of women and girls to make an exponential impact in the world. Through initiatives that provide support and opportunities in computer science and technology, we hope to inspire girls with courage and a huge dose of creativity to go beyond prescribed boundaries to #MakeWhatsNext, today.
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Sri Lankan shares ease; interest rate concerns weigh
Reuters – Sri Lankan shares ended slightly weaker on Tuesday, with financial and manufacturing stocks dragging down the index as investor sentiment continued to remain low on concerns about rising interest rates.
The Colombo stock index ended down 0.15 percent at 6,108.11, On Friday the bourse hit its lowest close since Feb. 9. It shed 0.6 percent last week in its second straight weekly decline.
Foreign investors were net buyers of shares worth 379.6 million rupees ($2.51 million) on Tuesday, extending the year-to-date net foreign inflow to 1.73 billion rupees worth of equities.
Turnover was 539 million rupees, less than this year’s daily average of 676.9 million rupees.
“Retail and institutional segment is on silent (mode) with the high interest rates and economic uncertainty,” said Dimantha Mathew, head of research, First Capital Equities (Pvt) Ltd.
The International Monetary Fund on Tuesday urged Sri Lanka’s central bank to rebuild international reserves, while maintaining exchange rate flexibility, and to be ready to tighten monetary policy if credit growth or inflation do not abate.
Shares in Ceylon Cold Stores Plc fell 2.51 percent while Commercial Leasing & Finance Plc lost 6.67 percent.
Yields on treasury bills have risen to a more-than-four-year high since October, while the central bank has kept key policy rates on hold.
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People’s Bank’s Vanitha Vasana Savings account – Empowering Sri Lankan women
In conjunction with the International Women’s Day which falls on the 8th of March, People’s Bank plans to reward the savings habit among women who save with Vanitha Vasana account. Through this move, the bank aims to encourage the habit of saving amongst Sri Lankan women, while strengthening the country’s economy.
Women play a multiple role in managing the household income while largely contributing towards the country’s economy. In appreciation of their tireless efforts, People’s Bank joins to commemorate International Women’s Day on the 8th March.
A special period of savings has been declared by the People’s Bank from March 8th to May 31st , where holders of Vanitha Vasana account will be rewarded with valuable prizes based on the net increase in the balance of their accounts. ceramic rice plates, kitchen glassware spicy sets, glass fruit bowls, ceramic bowls, non-stick frying pans with lid andSpray Mop as well as single burner gas cookers are some of gifts that are being given to encour.
In addition, the bank has introduced an investment plan to further empower women with financial stability. Vanitha Vasana Money Planner account offers several investment options such as Rs. 10,000/-, Rs. 25,000/-, Rs. 50,000/-, Rs. 100,000/-, Rs. 250,000/-, and Rs. 500,000. A sum of Rs.928/- is sufficient to open a new investment plan account, and a fixed amount is required to be deposited on a monthly basis.
For example, to open a Rs. 10,000 worth Vanitha Vasana Money Planner account, a deposit of Rs. 928/- should be made on the first month. Thereafter a sum of Rs. 800/- is required to be deposited monthly for the remaining 11 months to sustain the account.
A proper saving plan not only offers financial stability to the Vanitha Vasana account holder but also boost her self confidence and paves way to lead a better life. A good saving is like a future investment which can be utilized to pursue higher studies, travel abroad, begin a business venture, or can be used as a health insurance during an emergency in the family.
People’s Bank’s Vanitha Vasana account offers an exclusive opportunity to gradually increase the interest rate in proportion to the saving, and it also offers an additional bonus interest once the account reaches a certain balance in the account. People’s Bank cordially invites all women in Sri Lanka to open a Vanitha Vasana account with confidence and look forward to a financially secured and stable future.
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Colombo Design Studio Helps Rice & Carry Excite Surfers with Upcycled ‘Wax Combs’
The opportunity to upcycle trash, or turn it into new products, is abundant. Colombo Design Studio, Sri Lanka’s first industrial and product design consultancy, has partnered with Rice & Carry, a social enterprise upcycling gleeful bags from old rice sacks, to release plastic surfboard wax combs. The product, made entirely from Rice & Carry’s off-cuts of polypropylene material, is manufactured using a CNC machined
(a rapid-prototyping and manufacturing technique similar to 3D printing) mould fabricated by Colombo Design Studio.
Natural or synthetic wax is often applied to the deck of a surfboard, bodyboard, or skimboard, to keep surfers from slipping off their boards. Over time the wax becomes infused with sand and other grime, making it less effective and less comfortable. In order to resurface a deck, the old wax must be scraped off with a special tool — a wax comb — so as not to damage the board. But only a few surf and dive shops import wax combs for redistribution, particularly in Arugam Bay and Hikkaduwa.
“We started to think about other discarded materials that could benefit our society. It then occurred to us that it was lying right in front of us — the off-cut material from our upcycled bags,” added Susan, a spokeswoman for Rice & Carry. “After conversations with friends and community members passionate about surfing, the collected off-cut material seemed adequate for making plastic wax combs. Next, it was a matter of getting through to Lee from Colombo Design Studio.”
“We wanted to help Rice and Carry ‘excite’ their targeted customers,” said Lee Bazalgette, Founder of Colombo Design Studio. “Usually, it takes the smallest piece of innovation and creativity to make a large difference in one’s experience of a product. Combine that with the desire to turn trash into goods, we were compelled to turn Rice and Carry’s novel wax comb into something more than just an idea.”
Surprisingly, this is not the first time the two have worked together. Last year, Colombo Design Studio built Rice & Carry an environmentally conscious compost-lavatory at Whiskey Point, Arugam Bay. A project meant to serve the local community during the busy surf season. Colombo Design Studio and Rice & Carry, vocal supporters of the Precious Plastic project, will expect to strengthen their brand identities with the release of the ‘Rice & Carry Wax Comb’.
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Ceylon Chamber’s upcoming event to discuss ‘Alpha’ vs ‘Beta’ leadership in ‘Managing the Millennial Worker’
HR practitioners representing firms from diverse sectors will present their expert insights on how to manage talent in order to become an innovation driven business, during the ‘Plenary 1’ of the upcoming ‘Future of Business – Innovation Strategy and Learning Event’ of the Ceylon Chamber.
The session titled, ‘Managing the Millennial Worker’ will focus on the requirement of a unique management style to harness the energy and creativity that will be brought in by the millennials into a business. Increasingly, businesses will have to craft a dynamic workplace that motivates and attracts millennial employees, in a way that does not create tension with older employees.
Chandi Dharmaratne of Virtusa, Sumeet Verma of Unilever, Harsha Purasinghe of MicroImage, Aroshi Nanayakkara of Hela Clothing, and Mariam Riza of Wattleshire Group, will share their unique and practical insights. Kshanika Ratnayake of ‘Great Places To Work Sri Lanka’ will Chair the session and bring in perspectives across sectors.
The session will elaborate on how traditional firms may often struggle with balancing between harnessing the talent of the millennials and managing their expectations. The speakers will delve on how the ‘alpha’ notion of aggressive management has given way to the modern era of cooperative ‘beta’ leadership, increasingly being adopted by successful firms.
The event, to be held on the 24th of March at the Hilton Colombo Residences will give Sri Lankan business executives working in diverse sectors, practical insights to drive innovation, which can be deployed right away in their businesses to embark on a transformation agenda. If you wish to take part in this event, please contact Satheesha on 115588882 or email satheesha@chamber.lk .
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Morning Power to revitalize ‘Brumbies’ at the 138th Battle of the Blues
George Steuart Health has yet again partnered as a sponsor of the Brumbies enclosure for the 5th consecutive year at the 138th Battle of the Blues which is scheduled to be held at the SSC Colombo from the 9th – 11th of March 2017.
The brumbies enclosure, reputed for its distinguished clientele and exclusivity, is organized by the ‘Thomian Class of 87’ and accommodates both Royalists and Thomians.
Morning Power is a popular caffeine free drink used to relieve hangovers effectively and improve liver function.
Caption: Mr. Eran Ranasinghe- Executive Director of George Steuart Health handing over the official sponsorship to Mr. Surath Silva- President of Brumbies’ 2017, in support of the Brumbies enclosure.
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German chambers to assist Sri Lanka in trade and investment
During his meeting with Sri Lankan Ambassador Amunugama, the Chairman of the Chamber of Commerce in Bremen, Harald Emigholz, has assured that the German Chambers will work with their Sri Lankan counterparts to enhance economic relations between Sri Lanka and Germany.
Joining the meeting, the Director General of Indo-German Chamber of Commerce (Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Pune), Bernhard Steinruecke, said that 136 Bremen-based companies have already invested in India, and that the business community in the Chamber has a long history in their trade relations with Asia. He also informed that these German Chambers are looking forward to open a branch office in Colombo soon.
During the interactions, Ambassador Amunugama pointed out that the volume of trade between Germany and Sri Lanka has increased substantially during the past few years and requested the members of the German Chambers to gear up for the upcoming possibilities in importing more products from Sri Lanka under the lifting of the ban on tuna exports to Europe and also through the provisions regained under GSP Plus facilities. Ambassador Amunugama also explained the Government’s vision to develop Sri Lanka as a logistic hub and a service point to South, East Asia and to the Middle East.
Bremen is one of the smallest, but economically strong Federal States in Germany and is considered as one of the main entry points to the European market. Bremen’s city ports are specialized on handling conventional break bulk and heavy lift cargo. Numerous logistics centers are based in Bremen, together with Germany’s leading freight village.
The President of the East Asian Chamber of Commerce in Bremen, Hans-Christian Specht, invited Ambassador Amunugama to meet the other members of the German Chambers of Commerce during the Annual Dinner hosted by them for over 300 leading entrepreneurs from many parts of Germany.
Ambassador Amunugama also had a meeting with the Mayor of Bremen and President of the Senate of Bremen, Dr. Carsten Sieling, on the sidelines of his visit to Bremen.
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Sri Lankan shares post 1-month closing low; foreign investors extend buying
Reuters – Sri Lankan shares fell to their lowest close in one month on Wednesday, led by financial and telecommunication stocks as investor sentiment continued to remain low on concerns about rising interest rates.
Foreign investors were net buyers for the sixth straight session, purchasing shares worth 154.8 million rupees ($1.02 million), and extending the year-to-date net foreign inflow to 1.88 billion rupees worth of equities.
Foreign trading accounted for more than 50 percent of the day’s turnover of 1.06 billion rupees. This year, the daily average has been 685.5 million rupees.
“Foreign investors are buying stocks in which they see some value after prices have come down,” said Hussain Gani, deputy CEO at Softlogic Stockbrokers.
The Colombo stock index ended down 0.21 percent at 6,095.07. It shed 0.6 percent last week in its second straight weekly decline.
Traders said there were concerns after the International Monetary Fund urged Sri Lanka’s central bank to be ready to tighten monetary policy if credit growth or inflation do not abate.
Shares in Commercial Bank of Ceylon Plc, the country’s biggest listed lender, fell 1.27 percent while Dialog Axiata Plc declined 0.89 percent.
Yields on treasury bills have risen to a more than four-year high since October, while the central bank has kept key policy rates on hold.
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Jaguar Land Rover And Getty Images Create A More Realistic Portrayal Of Women In Engineering
Jaguar Land Rover and Getty Images have announced a partnership on International Women’s Day to highlight the need for a more realistic visual representation of female engineers.
More people than ever are searching images of women in science, technology, engineering and maths (STEM) careers, yet results are often out-dated and don’t reflect today’s exciting and varied roles. This partnership aims to change that.
Pictures released today by Jaguar Land Rover, the UK’s largest car manufacturer, and Getty Images, a world leader in visual communication, show women in a variety of STEM roles from aerodynamics to cyber and audio engineering. They are intended to encourage more women to apply for these jobs by accurately portraying the modern workplace.
New data released today by Getty Images shows that web traffic for imagery showing women in engineering careers is significantly increasing. The number of people searching “women + STEM” imagery has risen by 526 per cent in the past year alone.
Fiona Pargeter, Jaguar Land Rover Global PR Communications Director, said: “We have always championed women in the car business and are committed to inspiring more girls and women to consider careers in engineering and manufacturing. Our female workforce has grown from nine to 11 per cent over the past four years due to our focused STEM initiatives. But this is still far too low – businesses being proactive about using realistic imagery is one of the many ways that we can attract the bright minds we need into STEM careers.”
The Jaguar Land Rover and Getty Images collaboration sees a set of images available today for editorial use, as the partners work towards building a body of imagery, which authentically depicts female engineers at work.
Rebecca Swift, Director Creative Insight at Getty Images, said: “We are a passionate advocate for the realistic representation of women through imagery and are proud to be leading the visual industry in the creation and promotion of powerful, relevant imagery which celebrates diversity and authenticity in every area of life.
“Over the last year we have seen a dramatic spike in interest for imagery showing female engineers at work. Images have the power to make and break gender clichés so the demand for these images is both indicative and important. We have an opportunity to change the visual language around STEM for the better, so we are excited to be partnering with Jaguar Land Rover, who are also committed to expanding the availability of images representing the realities of a modern day engineering career for women.”
Michelle Mortiboys, Vehicle Line Director, Jaguar Land Rover Special Vehicle Operations, said: “Here at Jaguar Land Rover we need the diversity of skills that women bring to ensure we thrive and maintain our competitive edge for years to come. It is well known that gender diversification in business is not just healthy culturally but also propels progressiveness and innovation. Our partnership with Getty Images is not just about recruiting women into engineering, it’s a small part of the work that needs to be done to upscale female employees in the automotive sector as a whole.”
Jaguar Land Rover has called for other leading manufacturers to follow suit by reassessing and updating their visual portrayal of women in STEM careers, in a bid to increase the number of women applying for STEM jobs.
Fiona Pargeter and Michelle Mortiboys are available for comment around this initiative, as well as the wider work that Jaguar Land Rover undertake in order to bolster female careers within the automotive industry. Rebecca Swift is also available to discuss Getty Images’ collaboration on this project and the wider issues about the visual depiction of women in industry that the business is currently working to address.
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Nestlé Kurunegala Factory showcases best practices in manufacturing Milo ‘Ready-To-Drink’ to Nestlé global markets
~ Participants from 9 countries across Asia, Oceania and Africa
Nestlé Lanka recently hosted an international workshop at its Kurunegala factory, where best practices in manufacturing Milo RTD (Ready-To-Drink) were showcased to Nestlé participants from 9 countries. Participants from 12 factories which manufacture Milo RTD across Asia, Oceania and Africa (AOA) attended the workshop to gain expertise in this area.
Sri Lanka was chosen as a host destination for the workshop as Nestlé’s Kurunegala Factory was the first market in the Nestlé AOA zone to implement new manufacturing standards to further enhance the manufacturing process of Milo RTD with the latest technological knowhow of the Nestlé group.
Technical experts from Nestlé Product Technology Centers in Switzerland, USA and Singapore attended the workshop to share their technical expertise and knowhow. Nestlé Lanka shared their success story of Milo RTD with other countries, to showcase best practices.
Said Shivani Hegde, Managing Director for Nestlé Lanka “We are proud to have been the pioneering market in the AOA zone to manufacture Milo RTD using the latest manufacturing standards and processes. This signifies the high quality standards that we follow in our manufacturing facility, to provide tasty and nutritious products to our consumers.”
Milo that fuels the winning spirit, has been highly accepted by mothers and children for several decades. Made from the freshest and high quality milk, collected from 21,000 Sri Lankan dairy farmers, Milo RTD offers the golden goodness of malt and cocoa from the finest cocoa beans to give that great chocolate malt taste.
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India’s MBD gifts e-learning classes to two Sri Lankan schools
India’s MBD, one of the country’s largest education companies, will gift two Sri Lankan schools with two integrated digital learning solutions. The two schools are Nakkawatta Central college in Kuliyapitiya and Gannethena Maha Vidyalaya in Hingula Mawanella. This is part of the Group’s objective is to encourage Sri Lankan students to venture into e-Learning, a new initiative by the Sri Lankan education authorities.
Valued at SL Rs 1.2 million, the first two e-learning classrooms were formally presented to Education Minister Hon. Akila Viraj Kariyawasam by Ms. Monica Malhotra Kandhari, Managing Director of MBD Group, at the Ministry of Education recently.
MBD Group, an ISO 9001:2008 certified company, is one of India’s largest education companies with more than six decades of experience in the domain. Under the category of e-learning, MBD is offering a customised learning management system that consists of classroom-based training modules, interactive e-content, teacher support kit and other support services along with training teachers to get accustomed to newer methodologies of teaching and creating their own e-content.
“The system provides an environment for students to put their textual knowledge and practical skills to test and enhance their learning levels. Besides, various modern teaching methodologies have been incorporated to make learning a fun and effortless process. This aims to standardise teaching resources along with encouraging teachers to create their own e-content and assessments and make learning more receptive”, said Ms Monica Malhotra Kandhari, Managing Director of MBD.
The m-learning solution from MBD is an extension of the traditional approach. For instance, the freely available Nytra app — an indigenously developed augmented reality app — makes images and illustrations come alive in books with the help of animations and voice-overs. This app also supports all formats of digital content, videos and animations and works on Android, iOS and Windows-based mobile devices.
Several educational apps, such as ABCD Kids and Joy of Rhymes, developed by MBD are also available free of cost (at Google Play Store, iTunes Store, Windows Store) for end users. MBD recently launched Virtual Reality for K-12 education which was also appreciated by the learning and teaching community across India.
Along with this, all books published by MBD are available online in the form of interactive e-books; learners can access these from MBD e-Bookstore (www.octopuslearn.com) by paying a nominal fee.
MBD Group has received accreditation from the Sri Lankan Ministry of Education for more than 30 titles and projects, including Moderns ABC books for Grades 11 and 12; books of Physics, Chemistry and Biology for Grades 6, 7 and 8; Learnwell Computer books for Grades 1 to 8; Learnwell Science for Grades 6 to 8; and Web Designing books. A warehouse has been set up to ease the supply and delivery system in Sri Lanka.
Last year, MBD donated science books worth Rs 1 million to the Colombo Municipal Council on the latter’s celebration of 150 years of service; four of MBDs authors sponsored a science symposium in Colombo. Again this year, the Group will be distributing a hundred thousand exercise books.
MBD books will be available at local bookshops and libraries across Sri Lanka, through its key distributors. Currently the Group is engaged in creating books in the local language (Sinhalese) for Grades K to 12. Furthermore, there are plans to boost e-learning projects; more books are in the process of accreditation, too.
MBD Group is a leading education company with its presence across the globe, and publishes 50 million books a year and around 30 million notebooks. Today, the Group has diversified into various industries including e-learning, m-learning, skill development, eco-friendly notebooks, capacity building, paper manufacturing, ICT infrastructure, hospitality, real estate, mall development and management. MBD Group has been continuously working for the cause of providing education to all with its vision to create an MBD product for every literate person. The Group has ventured into the Sri Lankan market with its bouquet of education services.
PHOTO CAPTION : Education Minister Hon. Akila Viraj Kariyawasam with Ms. Monica Malhotra Kandhari, Managing Director of MBD Group.
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IFC Joins Colombo Stock Exchange to ‘Ring the Bell’ for Gender Equality in Sri Lanka
IFC, a member of the World Bank Group, and Sri Lanka Institute of Directors (SLID) joined the Colombo Stock Exchange (CSE) yesterday (08) to ring the opening bell for trading to raise awareness on the need for gender equality in Sri Lanka.
Marking International Women’s Day, the “Ring the Bell for Gender Equality” event is part of an IFC-driven initiative across 43 stock exchanges worldwide to highlight the private sector’s role in spurring women’s participation in the economy.
“This initiative is a call for gender equality and also for business efficiency. It is quite relevant that over 40 stock exchanges globally support this initiative, as we have a strong responsibility to create an environment for the involvement of women in our respective markets. It is important that such empowerment reaches out to women in all walks of society, whether it be women on boards, a woman starting a small business, or school-children aspiring to be the leaders of tomorrow,” said Vajira Kulatilaka, Chairman of CSE.
The private sector is increasingly recognizing that advancing gender equality through business operations and value chains means better talent, higher productivity, more customers, and a stronger bottom-line. However, there is still a long way to go
“When a woman is empowered, the whole economy and the whole community benefit,” said Charlotte Blundell, Australian Counsellor for Development Cooperation, Department of Foreign Affairs and Trade. “By working together, we can create countries in which women are respected, represented, have a strong voice, are financially and economically secure, and are safe from violence. As business leaders, you have a vital role to play.”
IFC believes that women—as consumers, employees, business leaders, and entrepreneurs—have the potential to transform the global economy, supporting job creation, raising per-capita incomes, and promoting sustainable development. IFC works with companies in developing countries to generate opportunities for women while contributing to companies’ bottom-lines, productivity, and growth.
“No society can develop sustainably without transforming the distribution of opportunities, resources, and choices for males and females so that they have equal power to shape their own lives and contribute to their families, communities, and countries,” said Idah Z. Pswarayi-Riddihough, World Bank Country Director for Sri Lanka and Maldives.
By leveraging relationships with about 1,000 financial institutions and private equity funds, IFC helps expand access to finance for women entrepreneurs. Almost 30 percent of IFC nominee directors are women. IFC’s South Asia Regional Corporate Governance Project, implemented with donor support from Japan’s Ministry of Finance, provides training to encourage more women participation on boards.
Now in its third year, “Ring the Bell for Gender Equality” event series is a partnership of IFC, Sustainable Stock Exchanges (SSE) Initiative,the UN Global Compact,UN Women, Women in ETFs, and the World Federation of Stock Exchanges.
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Shangri-La opens luxury paradise apartments for viewing
Colombo’s once static skyline is now in the midst of a vast transformational process and at the forefront of this immense development is Shangri-La, Asia Pacific’s leading luxury hotel, resort and residential group, with its very first mixed development project, One Galle Face.
A rendition of the luxury apartment, the ‘New Show Suite’, located inside the actual towering 51 floor high residential structure, welcomed media for an exclusive sneak preview at an event held recently. The Group was pleased to announce recently that the construction on, The Residencies at One Galle Face, the fully integrated residential towers, was in line with development plans.
“We are very happy to state that development on this iconic oceanfront property has now gained momentum and is in accordance to our plans,” stated Rajeev Garg, Deputy General Manager and Director of Finance, Shangri-La Hotels Lanka (Pvt) Limited at an event held exclusively for the media. “This is a soft launch of the New Show Suite exclusively for media and we are planning on a separate launch soon for both our valuable existing and potential buyers,” added Rajeev.
The New Show Suite is a four bedroom unit of 2,765 square feet, the show flat will comprise of living area, dining, dry and wet pantry, bedrooms, three bathrooms, a maid’s room, bathroom and yard, all of which will epitomize the exacting lavish standards that will be upheld throughout the entirety of the property development.
All in all, The Residencies at One Galle Face will feature 390 apartments, consisting of two, three and four bedroom units. Additionally, it will contain 16 penthouses, offering eight Duplex and eight Simplex units. The exclusive address and unmatched lifestyle experiences come together as the ideal integrated development for foreign investors, expatriates and an expanding class of influential Sri Lankans.
Every room and suite in the residential tower offer spectacular views of the Indian Ocean, Galle Face Green or Beira Lake. Coupled with tranquil interiors and natural landscaping, every aspect has been meticulously detailed to create a perfect sanctuary in the heart of Colombo’s central business district.
Lofty ceilings, spacious interiors, and exquisitely-appointed bathrooms and fixtures all come together to form the essence of luxury living, afforded by the hallmark quality of Shangri-La. Designed for flexibility, the study room can be an oasis for quiet rejuvenation, or an enviably expansive space when integrated with the master bedroom.
The Residencies at One Galle Face is also all about exclusive convenience bolstered by exquisite comfort. In line with this, the upscale contemporary collaboration of Shangri-La Hotel, Residences, Office and Retail will offer residents world-class shopping and dining, an exclusive residents club, an on-site supermarket and an international grade office tower, right at their doorstep, as well as doorstep access to the integrated services of the Shangri-La Hotel. Additionally, not forgetting the importance of joyful childhood moments, the mixed development project will also feature a kids’ zone, a Cineplex and a myriad of entertainment options.
“Today marks a special day as we officially open the New Show Suite to media. This is going to be a great place to live in. The Residencies at One Galle Face ticks all of the boxes of luxury living; idyllic location, incredible view, tranquil interiors and convenience for all our residents,” commented Neluka de Alwis, Head of Sales and Marketing (Residential), Shangri-La Hotels Lanka (Pvt) Limited at the event.
Commencing with its first deluxe hotel in 1971 in Singapore, today, Hong Kong-based Shangri-La Hotels and Resorts is one of Asia Pacific’s top luxury hotel groups. Considered to be one of the world’s finest hotel ownership and management companies with 100 hotels and resorts throughout Asia Pacific, North America, the Middle East and Europe, they are grouped under brands Shangri-La Resorts, Shangri-La Hotels, Traders Hotels, Kerry Hotels and Hotel Jen.
The address One Galle Face alone embodies the luxury lifestyle and elegance that the Shangri-La Group stands for globally, and is poised to transform Colombo with unparalleled levels of class and sophistication, redefining cosmopolitan living in the city.
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Nimal bids adieu to Dhammika’s companies
Nimal Perera, a prominent Sri Lankan businessman and share market investor has stepped down from the positions he has held in several listed companies.
His letter of resignation from the post of Managing Director at Royal Ceramics PLC with effect from 07 Match 2017 has been accepted by the company’s board of directors.
Furthermore, from 08March 2017, Nimal Perera has resigned his posts as Director with several listed companies including Amaya Leisure, Kingsbury Hotel, Haycarb, Hayleys and Talawakelle Plantations Ltd.
The major shareholder in all these companies is the multi-billionaire Sri Lankan entrepreneur Dhammika Perera.
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Oman Air agreed new partnership with DHL Express
Oman Air, the national carrier of the sultanate of Oman, is excited to announce a new partnership with DHL Express, a division of the German logistics company Deutsche Post DHL.
This trial builds on Oman Air’s promise to scrap high baggage charges. The arrangement will allow guests flying Oman Air to use DHL Express to deliver their baggage to their final destination at extremely affordable rates in line with the new rates introduced by Oman Air in January of this year. The agreement signifies DHL and Oman Air’s commitment to strengthen cooperation and deliver better service and value to Oman Air’s customers within Sultanate of Oman.
The partnership will enable Guests, with confirmed Oman Air tickets to send baggage to any address within Oman Air’s network through drop off at any DHL service point in Oman, including Seeb, Al Khuwair, Sohar, Muscat, Qurum and Salalah. Guests will then be able to track their packages on the move via phone, sms, email or online through DHL.com.om
Aboudy Nasser, Senior Vice President, Network Planning & Revenue Management for Oman Air, said “Our decision to partner with DHL is part of journey to becoming the best. As with our move to scrap high baggage charges, we want deliver more value for our customers and make their life as easy as possible while travelling. Passengers flying with us can arrive in the Hotel with their Baggage waiting for them relieving them of the hassle of having to carry to and from the Airport.”
Ali Thabet, Country Manager for DHL Express in Oman, said “We are pleased to be working closely with Oman Air. This new and strategic partnership with Oman Air reflects the common vision and brand promise of both companies in making sure that customers are offered great service quality that exceed their expectations. It is also a reflection of the strong ties that we have with Oman Air.
This new partnership with DHL definitely delivers an added benefit for anyone flying with Oman Air. Using our unparalleled global network that extends to more than 220 countries across the world, DHL Express is able to provide Oman Air passengers with a unique and value for money service of securely shipping their luggage to any country they are flying to and delivering it to its final destination on time, offering them peace of mind and a hassle-free flight. Our support will aid Oman Air’s mission to exceed customer expectations with a safe, reliable and seamless flying experience.
Oman Air guests will receive special DHL rates on production of a valid Oman Air ticket with specific rates for Inter GCC travel, Middle East, Africa and Indian Subcontinent and separate rates for travel to Europe and Asia Pacific.
DHL standard terms and conditions will apply for each shipment and DHL will be responsible for all processing of Oman Air guests’ requirements.
For further information or details on the rates please contact DHL or Oman Air or visit DHL.com.om or omanair.com
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