Adaderana Biz English | Sri Lanka Business News

Especially-designed to cater to local palettes

Pyramid Wilmar, the company behind Sri Lanka’s number one edible oil – Fortune, officially launched MEADOWLEA, a product of Goodman Fielder Australia and widely known to be one of Australia’s favourite spreads. The launch ceremony held at Cinnamon Lakeside Colombo was patronized by the Board of Directors of Pyramid Wilmar among many other distinguished guests. Made with the goodness of sunflower oil, MEADOWLEA is a fat spread that offers a delicious creamy taste and is enriched with essential nutrients such as Vitamin A, D and E. These nutrients support better eyesight, help absorb calcium and phosphorus from food while also helping to maintain a healthy immune system in children. MEADOWLEA is especially designed to cater to the palettes of Sri Lankan consumers and to be used across multiple applications including spreading, cooking and baking. The locally-manufactured new MEADOWLEA was tested among Sri Lankan consumers for the overall product delivery and proved to be a winning formula among them. The product adheres to the highest international and local quality standards and helps cater to local consumers’ nutritional needs at an affordable price. Goodman Fielder Australia, a company with over a century of excellence in the food industry, is an associate company of Pyramid Wilmar Private Limited. MEADOWLEA is manufactured at Pyramid Wilmar’s state-of-the-art manufacturing facility in Muthurajawela and is available in three pack sizes – 100g (Rs.90), 250g (Rs.220) and 500g (Rs.420) – at outlets island-wide. Expressing his views at the MEADOWLEA launch, Sajjad Mawzoon – Managing Director of Pyramid Wilmar stated, “Our vision is to transform the lives of Sri Lankan consumers and make available to them world-class products which will enhance their quality of life. I am proud to state that the synergies and experience of Goodman Fielder and Pyramid Wilmar, in their spreads and margarine business have been instrumental in producing MEADOWLEA in Sri Lankan soil. Together with a partner like Wilmar, we are able to strategically plan and execute our vision to make a positive difference in the lives of the Sri Lankan consumers.” “MEADOWLEA is a brand that has been trusted from generation to generation and has a strong brand equity amongst consumers worldwide. We believe that MEADOWLEA provides a solution for Sri Lankan mothers seeking to create lasting memories with the food they give their children. It is a nutritionally-enhanced fat spread with the goodness of sunflower oil, which is enrichedwith essential micronutrients,” said Hiranth Fernando, Head of Sales & Marketing for Pyramid Wilmar. Pyramid Wilmar (Pvt) Ltd. is the joint venture between Asia’s largest integrated agribusiness group Wilmar International Limited and Pyramid Oil Mills (Pvt) Ltd. Founded in 1991 and headquartered in Singapore, Wilmar International is currently ranked amongst the largest listed companies by market capitalisation on the Singapore Exchange. Pyramid Wilmar’s business activities includemerchandising and processing of palm and lauric edible oils, manufacturing of bakery shortening, specialty fats and margarines, manufacturing of small pack consumer edible oils and sugar trading. The company manufactures and markets Fortune Cooking Oils and is the marketer and distributor of Masterline Bakery products in Sri Lanka. It is also a shareholder of the Shangri-La Hotel projects in Sri Lanka. Pyramid Wilmar has also entered into a strategic partnership with Sunshine Holdings and Tata Global Beverages to jointly own Estate Management Services (Pvt) Ltd., the holding company of Watawala Plantations PLC and Watawala Tea Ceylon Ltd. Photo Caption: Pyramid Wilmar launches MEADOWLEA in Sri Lanka. In the picture Pyramid Wilmar management including Sajjad Mawzoon – Managing Director, Omar Sulaiman – Director, Rehana Mawzoon – Director, Priyantha Kolonnage – General Manager, Thanveer Siddique – Group Head of Commercial, Hiranth Fernando – Head of Sales & Marketing, Heshan Rodrigo – Head of Sales, Nadeesha Chandrasekara – Head of Marketing and Wilmar International Regional Head Pratheepan Karunagaran and Goodman Fielder International Marketing Director, Fiona Johnson

The Ceylon Chamber of Commerce in collaboration with International Trade Center recently, conducted a workshop through a train-the-trainer methodology to create awareness among the private sector on the latest WTO Trade Facilitation Agreement. The two day work shop conducted in Colombo early this month was aimed at helping businesses, especially the local SME sector to understand the terms, potential benefits and practical use of each of the technical measures of the new Agreement and to equip them to contribute to the design, implementation and monitoring of the Trade Facilitation potential implementation choices. The training session was delivered by ITC trained national consultants sourced by the Ceylon Chamber of Commerce. Among them were Mr. Ravindra Kumar, Former Director in charge of Policy, Planning and Research Directorate of Sri Lanka Customs and former Chairman for WCO Customs Valuation Committee, Mr. Dinesh de Silva, Head of Shipping, Unilever Sri Lanka Limited and the Ceylon Chamber of Commerce representative on NTFC, and the Chairman of Import Section of the Ceylon Chamber, Immediate Past Chairman of Sri Lanka Shippers Council and Mr. Rezvan Rasheed, Managing Director and CEO of BAZ Global Logistics CMB Private Limited and the who was also the former Secretary General of the Ceylon Freight and Logistics Association) WTO members concluded negotiations at the 2013 Bali Ministerial Conference on the landmark Trade Facilitation Agreement (TFA), which entered into force on 22 February 2017 following its ratification by two-thirds of the WTO membership, operationalizing the Agreement on Trade Facilitation is a path to internationalization, which will allow them to access international value chains at lower cost and at greater speeds. Sri Lanka is a signatory and has agreed to undertake many trade facilitation reforms. The TFA can be a game changer for Sri Lanka’s International Trade and could bring bigger benefits for business than trade liberalization, it was revealed at the seminar. Two similar workshops will be held in Colombo early next year, while workshops will also be conducted in places such as Jaffna, Batticaloa, Ampara and Hambantota.

Sri Lanka’s first innovation centre in the financial services sector has recently been launched by Nations Trust Bank, as part of their on gong commitment to bringing futuristic solutions and customer experiences to the industry. An innovation centre is essentially a dream lab, a place to test and turn dreams into reality. Nations Trust has created the perfect environment for inspiration and ideation at their “Kaffeine Lab”, located at Gregory’s Road. The major goal is to open the bank’s systems up to developers and enthusiasts so that they may use Nations Trust Bank’s existing infrastructure to build new fintech products and services which can be delivered via the bank’s own platforms or via 3^rd party platforms. The key objectives of the Kaffeine Lab is to actively engage and collaborate with other ecosystems such as non-financial sector industries, academics, start-ups and the customers themselves to solve real customer problems, enhancing customer experience through disruptive digital transformation, radically changing the operating and business models in the financial services industry and to foster a strong innovative and digital culture within Nations Trust by working closely with all internal stakeholders to prototype, pilot and implement solutions which transforms the way the bank works. Discussing the innovation centre, Renuka Fernando – CEO of Nations Trust Bank said that, ‘The Kaffeine Lab is yet another milestone in the Bank’s journey to bring the future to our customers. With the rapid advancement and adoption of technology globally, it is really important for us to keep pace with the changing global landscape, otherwise we will become irrelevant in the lives of our customers. This is a springboard to becoming a future ready bank. We also want to be an incubator to foster our country’s fantastic talent, especially within the Fintech space. So far in the financial sector, there has never been a platform for people with ideas to collaborate, design and build what they envision. Our Kaffeine Lab will provide that platform for developing ideas into useable products, services and tools. This is the thinking behind the Fintech hackathon we have organized. We’re providing a space to work on ideas and develop them into something useful with minimal resources, while bringing people from different backgrounds to collaborate together.’ The first initiative of the Nations Trust Innovation Lab is Sri Lanka’s first fintech hackathon, which has been organized in collaboration with the University of Moratuwa – Faculty of IT and the Sri Lanka Association for Artificial Intelligence (SLAAI), while connecting with other institutions such as the universities of Peradeniya, Sabaragamuwa and Jaffna, along with other private educational institutions. The hackathon, which will be held on the 10^th of November 2017 at the Kaffeine Lab, will see geeks and tech professionals from different backgrounds bring their ideas together to compete and create meaningful solutions. The focus of the event will be conceptualizing real life problems in the financial services sector and coming up with solutions to them. The Nations Trust Fintech Hackathonwill see 10 to 15 teams competing for significant 3 cash prizes of Rs.250,000/-, Rs. 150,000/- and Rs.75,000/- with attractive lending propositions of up to LKR 1 million for the best team to help them finance their ideas and build successful businesses. Dinesh Thomas, the Chief Innovation Officer at Nations Trust Bank elaborated on the hackathon and what it hopes to achieve, ‘Hackathons are largely unheard of in Sri Lanka but it’s time we caught up with our global peers. Hackathon events are organized around the world by leading organizations and see diverse groups of professionals and enthusiasts from various disciplines and backgrounds come together to create unique, game changing solutions. The Nations Trust FinTech Hackathon is an attempt to bring Sri Lankans from different backgrounds together and create a melting pot of ideas and innovative thinking and hopefully make some truly beneficially disruptive ideas bear fruit. We’re excited about both the innovation lab and the Hackathon and are sure they will change the game many times going forward. In fact, we have just launched the official Nations Trust FinTech Hackathon website, which can be accessed at www.fintechack.com ‘Sri Lanka is a deep and vibrant pool of talent. Very often, however, ideas are raw and those with ideas need mentors to turn their ideas into successful businesses.This is one of the most important functions of the Innovation Lab, to provide mentorship and guidance, for example, in marketing, business and strategizing. The Nations Trust Fintech Hackathon is a callout to the brilliant talent we have in this country and there will be no limit to creativity as solutions can be delivered through the web, mobile, IOT, augmented reality or any other platform as long as it is related tofinancial services. Sri Lanka’s financial sector lags behind in terms of development and integration and the only way forward is for new ideas to come in and for us to open our doors and minds to feedback. Nations Trust Bank PLC is amongst the top 25 business establishments in Sri Lanka, ranked by Business Today Magazine and is the benchmark for customer convenience, ably providing a host of financial products and services to a wide range of customers. Nations Trust is also the bank behind Sri Lanka’s first fully digital banking and payment platform, FriMi. The bank operates 93 branches across the country, boasting an ATM network covering 137 locations plus more than 3,500 ATMs on the Lanka Pay Network and is the issuer and sole acquirer for American Express® Cards in Sri Lanka.

Left to Right – Dinesh Thomas, Chief Innovation Officer, Nations Trust Bank PLC, Shaan Wickremesinghe, Chief Marketing Officer, Nations Trust Bank PLC, Renuka Fernando, Chief Executive Officer, Nations Trust Bank PLC and Thilak Piyadigama, Chief Operating Officer, Nations Trust Bank PLC

Vista Rooms, South Asia’s largest chain of affordable stays, has partnered with handy to provide its network of hotels with free smartphones, allowing guests to enjoy unlimited international calls and data and access to local guides whereas hoteliers have an opportunity to upsell their services. The partnership will give Vista’s partner hotels a competitive advantage and provide their customers with greater convenience and comfort during their travels. This latest travel solution is in keeping with Vista Rooms’ mission to improve their customers’ travel experience and help their partners through the use of technology and innovation. Network hotels will be able to create a personalised experience, up-sell services and facilities within the hotel to increase their revenues as well as push instant reviews on Trip Advisor and other online platforms. Connected travellers are on the rise, with a recent global research indicating that 46% of global travellers said free in-room Wi-Fi is a must-have amenity, which means they will look elsewhere if an accommodation does not provide connectivity. “We are excited about partnering with handy. This partnership is born from a growing trend in the market due to the rise of social media and messaging apps. People are now more connected than ever and they want to keep their friends and family updated while on vacation. By giving them free data and unlimited international calls we are simply reducing one item from their checklist, keeping them connected to their loved ones and making their vacation that much more enjoyable,” said Amit Damani, Co-Founder of Vista Rooms. “Changes like these can make a huge positive impact on a traveller’s experience thereby creating loyalty for our partner hotels and providing them with an edge in the market. This is just one of many steps we’re taking to empower our hotel partners in the country,” he added. “Connectivity is more important than ever for an enriched travel experience in today’s digital age and handy connects travelers so they can enjoy Sri Lanka as a premier travel destination, revealing local gems on the go and sharing their experiences. handy brings many benefits to hoteliers that may not have been able to assist their travelers to the best of their ability, handy is a solution that brings ease to excellent customer service travelling.” said Terence Kwok, Founder and CEO of Tink Labs. handy devices were first launched in September 2012 by Tink Labs to help deliver a hassle-free travel experience and meet a growing demand for internet connection services. The complimentary service enables visitors to travel like a local finding connectivity and information they need at no cost. Since entering the country in April 2016, Vista Rooms has been successful in quickly capturing market share and building the largest network of branded stays in Sri Lanka with over 350 properties across 30 cities. Their recent move to offer end-to-end support as a complete turnkey solutions provider for over 50 villa and boutique properties has further strengthened their position.

Hemas Hospitals Thalawathugoda recently launched ‘Hemas Diabetes Clinic’ – a special clinic to diagnose and treat patients with diabetes and other diabetic-related ailments, as well as raise awareness about the rising non-communicable disease among Sri Lankans. According to recent statistics from the Diabetes Association of Sri Lanka (DASL), diabetic patients are on the rise in Sri Lanka – nearly four million reported cases to date so far. Almost one-fifth of the world’s population with diabetes lives in South-East Asia Region. World Health Organization (WHO) has projected that diabetes will be the seventhleading cause of death by 2030. Demanding job hours, erratic lifestyles and increasing prevalence of obesity and physical inactivity are some of the major factors leading to diabetes. Diabetes causes vary depending on the genetic makeup, family history, ethnicity, health and environmental factors. It mainly affects the eyes, kidneys, nerves, large and small blood vessels and skin. Hemas Diabetes Clinic will provide a comprehensive, in-house diabetes management program and will aid patients with prevention and treatment options for diabetes. Other diabetes related issues like diabetic retinopathy (the most common diabetic eye disease and a leading cause of blindness in adults), kidney failure and so forth will be assessed and treated or the progress of a diabetes related ailment will be slowed down through this program. The official unveiling of Hemas Diabetes Clinic was graced by Dr. Lakith Peiris, Managing Director of Hemas Hospitals, Consultant Endocrinologists Dr. Chaminda Garusinghe and Dr. Manilka Sumanatilleke, senior officials of Hemas Hospitals’ chain and other distinguished guests. “Diabetes is a disease that is on the rise among people all over the world and during the last few years, it has become a serious healthcare issue for many Sri Lankans as well. The good news is that with timely treatments and leading a healthy life, many of us could avoid diabetes completely out of our lives. Our newest initiative ‘Hemas Diabetes Clinic is a step taken further to treat patients with diabetes with utmost care and superior facilities, and build awareness among Sri Lankans on the severity of this non-communicable disease,” Dr. Lakith Peiris, Managing Director of Hemas Hospitals expressed his views on launching Hemas Diabetes Clinic for public. As part of the Diabetes Care Programme, the hospital has also launched three comprehensive diabetes-screening packages at a very competitive rate. The packages are named as Basic Package (Rs. 4,450/-), Intermediate Package (Rs. 7,250/-) and Advanced Package (Rs. 15,900/-). Further, the hospital has introduced a Bio-Thesiometer – an instrument designed to measure the threshold of appreciation of vibration in human subjects – for foot care screening. The hospital also plans to launch initiatives where diabetes tests can be conducted at clinics using mobile units. Photo caption: (Above) Dr. Manilka Sumanatilleke addressing the gathering

Sri Lanka Institute of Marketing (SLIM) held its Certification Ceremony recently to recognize and award students who have successfully completed the SLIM programmes; Preliminary Certificate in Marketing (PCM), Certificate in Pharmaceutical Marketing (Pharma) and Certificate in Digital Marketing (CDM). Students of PCM 2016 – Batch III and IV, PCM 2017 – Batch I and II, Pharma 2016 – Batch I and II and CDM – Batch I were conferred with medals and certificates, numbering to over a thousand certificate holders. The Preliminary Certificate in Marketing (PCM) is one of the best short courses in marketing, conducted in the country which leads to a Postgraduate Diploma in Marketing (PGDIP). The Certificate in Pharmaceutical Marketing is a qualification to excel as a medical delegate whereas the Certificate in Digital Marketing (CDM) is an innovative program designed to discover the revolutionary aspects of Marketing. The best Student, first runner up and second runner up of each batch were conferred with a certificate and a medal while the subject winners of the Postgraduate Diploma in Marketing were awarded with medals. The awards for the Best Students were won by the following;

PCM (111) 2016 – J W T M Wijewardena
PCM (1V) 2106 – T R A J Fernando
PCM (1) 2017 – K A I Dhananjani
PCM (11) 2017 – M D M S N Dissanayake
Pharma (1) 2016 – M W Somathilaka
Pharma (11) 2016 – B S R Seneviratne
CDM (1) 2017 – U D S M U Anjana Madushanka

The Chief Guest of the event Gamika de Silva, Head of Marketing and Sales of Seylan Bank PLC and former president of SLIM in his address noted that the school education curricular should pay more attention to professional facets in education. “The Certification in Marketing is your stepping stone towards the new world. Among the students who are passing out today, there will be excellent Marketing strategists, Brand Marketers, PR heads, Event Managers, Research specialists, Sales experts, and Digital catalysts. Our school education system is such that many are confined to the streams of Engineering, Medicine or Accountancy. The Sri Lankan society needs many more professional disciplines”, he opined. Deputy Chairman/CEO of Derana Laksiri Wickramage who was the Guest of Honour, said, “Receiving your SLIM certification is a badge of honour. It is a symbol and reflection of your quality and the immense potential brewing inside you waiting to be unleashed. Hence this will be a launch platform which permeates you with all the knowledge necessary for you to excel in your career as well as your personal life.” SLIM President, Karthik Elangovan mentioned, “Apart from paving the way for professionals to create an edge among their peers and bringing in numbers, the subject of Marketing makes emphasis on grooming high calibre individuals who prosper in their personal lives as well as those who are socially responsible. SLIM has been engaging in this challenging endeavour of grooming such a breed of marketers who are torch bearers in the Sri Lankan marketing fraternity and who set trends for others to follow.” SLIM Vice President – Education, Pradeep Edward said, “SLIM has made emphasis on identifying new trends in Marketing and delivering programmes accordingly to add more value to the Sri Lankan marketing fraternity and beyond. The newest programme in our product portfolio, the Certificate in Digital Marketing (CDM), launched in 2017, is testament to this”. He added, “The corporate sector has kept high confidence on SLIM programmes and they constantly communicate with us to have ‘Tailor-made’ courses for their benefit. SLIM has been engaging in this endeavour from the inception and we will further strengthen this process.” SLIM CEO/Executive Director, Sanath Senanayake said that SLIM has reached the zenith as a mentoring entity with endorsements from the Sri Lankan marketing fraternity that includes the corporate sector. “For 47 years, SLIM has endeavoured to fulfil its vision of leading the nation towards prosperity by positioning Marketing as a key driver of the economic growth. Being the oldest study centre in Sri Lanka for the CIM-UK qualification has conferred strong reputation on SLIM. We produce approximately 2000 professionals per annum”, he said. Constantly evolving with innovations to add value to the Sri Lankan marketing fraternity has been SLIM’s key to success as the national body for Marketing.

Reuters – Sri Lankan stocks touched a near two-week closing high on Wednesday, as investors picked up shares of banks and beverages companies, brokers said.

The Colombo stock index finished 0.36 percent firmer at 6,614.55, its highest close since Oct. 13.

Shares of Sampath Bank Plc climbed 4.2 percent, while Ceylon Cold Store Plc ended 2.7 percent higher and Hatton National Bank Plc rose 3.5 percent.

“Market is looking very positive and investors are collecting before the budget and earnings,” said Reshan Kurukulasuriya, chief operating officer of Richard Pieris Securities (Pvt) Ltd.

“Investors expect a business-friendly budget and good results.”

Finance Minister Mangala Samaraweera will present the 2018 budget on Nov. 9.

Turnover stood at 892.8 million rupees ($5.80 million), below this year’s daily average of 937.1 million rupees.

Foreign investors net bought shares worth 267.8 million rupees on Wednesday, extending the year-to-date net foreign inflow to 19.7 billion rupees worth equities.

~ 65,000 entries received, over 500 young artists gifted The award ceremony of Roo Siththam, the annual all island art competition organized by Sri Lanka’s leading fashion destination, Fashion Bug, was held recently in two stages; Colombo and Kandy. Over 500 children were gifted out of the record number of 65,000 entries from over 300 schools. Initiated in 2011, with the objective of identifying the creative talents of school children, Roo Siththam is the signature annual event pertaining to Fashion Bug’s social sustainability platform Sisu Dirimaga, which is dedicated to improving education of students in Sri Lanka. The competition is organized under the supervision of the Department of Arts of the Ministry of Education. Roo Siththam 2017 was open for entries under the theme ‘Together, Towards a Cleaner Sri Lanka’, under three age categories. The entries were judged by prominent lecturers from the University of Visual and Performing Arts. A new category was added this year for children with special needs, the entries of which were judged by teachers from the Ceylon School for the Deaf and Blind, Ratmalana. The All Island winners are: Age 7 – 9 Colombo – K M Sinduli Sadogami Kandy – Sanderu Pathirana Age 10 – 12 Colombo – M. Kenul Dilmith Jayaweera Kandy – Chanethma Devangi Marasinghe Age 13 -16 Colombo – Diwakara Sudilapraba Suriyabandara Kandy – A. H. F. Shamila The All island winners received a special gift of umbrellas with their own drawing printed on it, along with cash prizes worth of Rs. 10,000/-, gift vouchers worth of Rs. 5,000/-, bicycles and trophies. All selected entries were awarded with medals, certificates and gifts. Commenting on the event, Director of Fashion Bug Shabier Subian stated, “While being in the business of fashion which highlights all things beautiful in life, we at Fashion Bug also focus on developing the community we serve. Our key social sustainability platform, Sisu Dirimaga ensures that all projects, focused on underprivileged students will stem from one platform. Roo Siththam is part of this initiative. Through this we aim to harness the artistic talents of children and encourage them to use their creativity to take them forward”. The award ceremony in Colombo was graced by Minister of Science, Technology and Research, Hon. Susil Premajayantha as Chief Guest with artists Rohana Baddage and Chamila Peiris as Guests of Honour. Deputy Minister of Mahaweli Development and Environment Hon. Anuradha Jayaratne was the Chief Guest in Kandy, and was joined by Chief Inspector of Sri Lanka Police Mr. Edirisinghe and Zonal Director from the Zonal Education Office, Kandy M. W. Wijerathne as Guests of Honour.

~ Marks the launch of a new enhanced one-stop Breast Cancer Prevention & Treatment Centre for early diagnosis and care Breast cancer is the most common type of cancer among women in Sri Lanka and the world over; and if detected at the early stages the type of cancer that can be nipped in the bud with proper treatment and care. As the cancer incidence report for 2010 by the National Cancer Control Programme revealed, one in eight women in the country has a probability of being detected with some form of complication related to breasts and one in 40 is susceptible to breast cancer. As common as it is, the amount of awareness among women about breast cancer is believed to be low and as a way of countering this matter, Hemas Hospital Wattala has come forward with a service of offering free screening to women not just during October but all throughout the year, free of charge. The comprehensive one-stop centre was launched with the intention of early detection and protecting women against the devastating effects of breast cancer, which is a common yet silent enemy of the woman – the mother, sister and care-taker – who is regarded as the heart of any family and backbone of the country’s economy. Through the Comprehensive Breast Cancer Prevention Centre at Hemas Hospital Wattala, females are availed the option of receiving a free Physical check-up and if physical examination alarms any vital & malignant signs the patient is offered with best initial diagnosis tools such as Ultra Sound Scan for breasts or a Mammogram. If the patient is diagnosed with any positive malignant symptoms, necessary treatments will be carried out by a multi-disciplinary panel of expert professionals comprising a consultant oncologist, radiologist, surgeons, histopathologist and a psychologist. Hemas Hospital Wattala has the latest, state-of-the-art equipment to carry out diagnosis and treatment at the new, enhanced centre which is managed and maintained by specially trained nursing staff. Breast cancer can be diagnosed via triple assessment comprising clinical history and examination, radiological assessment and cyto/hitological assessment. 95% of the time, if diagnosed at the right time, proper treatment including breast conserving surgical procedures can be performed. Commenting on the Comprehensive Breast Cancer Prevention & Treatment Centre and the special multi-disciplinary team approach, Dr. Nissanka Jayawardhana, Visiting Consultant and General Surgeon attached to Hemas Hospital Wattala said: “Due to the abundance of awareness campaigns and literature in the public domain, women in developed countries have a tendency to get themselves checked and take necessary precautions in relation to breast cancer, as opposed to local females who are more reluctant either due to lack of awareness or access. Starting with own staff Hemas Hospital Wattala has made the breast cancer screening a free service not just during October but throughout the year allowing proactive preventive care.” Dr Lasantha Karunasekara, Director/ General Manager of Hemas Wattala, said: “Hemas Hospitals in our quest to enriching millions of life’s has taken this initiative as a social responsibility, would like to invite females ideally over 35 years or younger, especially if they have a family history of breast cancer, to get themselves initially screened by a team of trained doctors for breast cancer and further investigated if necessary.” He reiterated that this devastating disease affects the ‘mother’ of the family with tremendous socio-cultural, economical, psychological effects on all family members can be managed and cured if detected early. More information on the screening and breast cancer care centre can be obtained by contacting 0777865027 or visiting www.hemashospitals.com Hemas Hospitals (Pvt) Ltd is a subsidiary of Hemas Group, a leading Sri Lankan conglomerate that has business interests in four key sectors – FMCG, Health care, Transportation, Leisure and Strategic Investments. The multi-specialty hospital chain comprises of 3 full-service hospitals at Wattala, Galle and Thalawathugoda along with 34 fully equipped laboratories and provides community-based expert health care services by positioning its chain of hospitals in strategic locations outside the commercial hub of Colombo. It guarantees patients the highest safety standards backed by full international accreditation and was the first hospital in Sri Lanka to be recognized by the prestigious accreditation body, Australian Council for Healthcare Standards.

HNB Grameen Finance Limited recently appointed two Directors to their Board with the objective of further strengthening the company. The new appointees Mr. Rajive Dissanayake and Mr. Mahinda Perera are highly competent and resourceful members who have been handpicked to steer HNB Grameen Finance Limited towards achieving and maintaining the status of being the most sought after finance company which pioneered micro finance in Sri Lanka. Mr. Rajive Dissanayake, the Chief Strategy Officer of Hatton National Bank PLC counts over 15 years of experience in banking and capital market research, financial analysis, economic analysis, investments, budgeting, investor relations, assets and liability management and strategic planning. Mr. Dissanayake holds a Bachelors Degree in Business Administration from the University of Colombo. He is also a Fellow of the Chartered Institute of Management Accountants (UK), Chartered Global Management Accountant and a CFA Charter holder. Mr. Mahinda Perera is currently practicing as a Commercial Lawyer and a Business Consultant and counts many years of experience in advising on Commercial, Corporate and Employment Law as well as on compliance and regulatory aspects. In addition to providing legal advice, he also provides business consultancy services. He is also a qualified Management Accountant [FCMA (UK), GCMA] and an MBA from the Postgraduate Institute of Management, Sri Jayawardenepura University. The count over 25 years of professional experience in the commercial sector as a Director/ Chief Executive Officer of of listed and unlisted companies before moving into the legal field. At present, Mr. Perera is an Independent Director of Prime Finance PLC and Industrial Asphalts (Ceylon) PLC. Mr. Rajive Dissanayake and Mr. Mahinda Perera assumed duties as Directors effective August 29, 2017 and September 29, 2017 respectively. They replaced Mrs. Sandamini Perera and Mr. Thimal Perera, who stepped down on August 17, 2017 and June 5, 2017 respectively. HNB Grameen Finance Limited was established in the year 2000 and is licensed as a registered Finance Company by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011. The company pioneered commercial-based microfinance in Sri Lanka, and has now emerged as a strong finance company. Photo caption: Mahinda Perera (left) and Rajive Dissanayake

Water scarcity is the lack of sufficient available water resources to meet water needs within a region. It affects every continent and around 2.8 billion people around the world at least one month out of every year. More than 1.2 billion people lack access to clean drinking water, according to the Human Development Report (2006) published by the UNDP. Lions worldwide have always put their shoulder to the wheel when addressing problems that need solutions to change the lives of communities for the better around the world and the ‘Water Project’ of the Lions Club of Colombo (Host) is one such project carried out in Sri Lanka. The journey that started in January 2017 came to fruition on 1st October 2017 when the Lions Club of Colombo (Host) commissioned the Water Project that would provide pipe borne drinking water to over 2500 people (55 households) in Tudugala, Sobithagama. The project consisted of building of a well, pump house, water tower and laying pipes to the 55 houses in the village. Though not originally included in the project the Lions also provided the required water meters to each of the households. The project was primarily funded by the Clifford Howarth Trust in the UK with the Lions Club of Colombo (Host) and the villagers of Tudugala contributing with additional funds, raw materials and labour. The Water Project in Tudugala bears testimony to the unwavering commitment and hard work of the Lions Club of Colombo (Host) lead by Lions Dr. Ameer Zainudeen and Srimal Gallage who worked tirelessly to keep the project on track and schedule along with Paul and Sheila Tinning of the Clifford Howarth Trust who visited Sri Lanka in August and lived in the village of Tudugala to ensure that all went as per plan in terms of construction and administration of the project. The technical assistance and supervision provided by the Water Board officials, of the area namely Mr. Kalyanasiri was invaluable and the villagers of Tudugala lead by Grama Niladari of the area Mr. Susiri Priyankara took ownership of the project working day and night to construct the water system that would ensure the supply of clean drinking water for their families. The Water Project was formally inaugurated by District Governor of Lions District 306A1 Lion Wilson Wijegunaratne and Paul Tinning representing Clifford Howarth Charity Trust by unveiling the commemorative plaque. The water system was then activated by switching on the water pump and opening the tap of the water tower that would allow the water to flow to the 55 households. Water was collected to seven pots and taken in procession to the village temple to bathe the Bo-Tree and after a blessing by the Head Priest, the contingent continued to the school hall to participate in a simple ceremony of felicitation organized by the Village Committee. The ceremonies were held in the presence of a large number of villagers, prominent Government Officers, a large contingent of Colombo (Host) Lions/Lion Ladies and family members, as well as Past District Governor Lion Ganamini Sumanasena. The Water Project in Tudugala is the second such joint project of the Lions Club of Colombo (Host) and the Clifford Howard Trust, UK. The first project was commissioned in Pannila in August 2014, together the 2 projects provide pipe borne drinking water to over 5000 people. Lions Clubs International is the world’s largest service organization with over 1.4 million members working towards the motto of ‘We Serve’ In addition to serving locally, Lions and Leos support 5 global service areas: vision, hunger, the environment, pediatric cancer and diabetes. The Lions Club of Colombo (Host) is the first club in Sri Lanka which has been carrying out far reaching service programs since 1958. Follow them at https://www.facebook.com/colombohostlions/ Photo captions: (Above) Club members leading the way

Club members: (From left) Mr. Kalyanasiri (Senior Water Board Official), Lion Dr. Ameer Zainudeen (Chairman Water Project), Mr. Paul Tinning (Clifford Howarth Trust), District Governor Lion Wilson Wijegunaratne, Lion Vajira Wijegunaratne, Lion Srimal Gallage (Co-Chairman Water Project)

The Central Bank of Sri Lanka with a view to ensuring a stronger and dynamic banking sector has increased the minimum capital requirements for licensed commercial banks (LCBs) and licensed specialised banks (LSBs). The capital considered for this purpose is largely represented by high quality capital, which has higher loss absorbing capacity. Enhancing minimum capital requirement will support the implementation of Basel III framework in Sri Lanka to strengthen the resilience of banks, and may lead to consolidation in the banking sector. Accordingly, with immediate effect, new banks to be established or incorporated in Sri Lanka are required to meet following capital requirements:

A time period of over 03 years has been granted for existing banks to enhance capital and to meet the minimum capital requirement. During this period, banks are expected to formulate and implement new capital infusion plans and to take necessary measures to re-structure or consolidate, if necessary. Accordingly, commencing 31.12.2020 the minimum capital requirement for existing banks will be as follows:

The Central Bank of Sri Lanka expects that this enhancement of minimum capital requirement will lead to stronger banks thus preserving the viability and stability of the banking system and the interest of the national economy.

Sri Lanka is aiming to expand its presence in Qatar. “Sri Lanka is aiming to expand its presence in Qatar, specifically in the Qatari employment market” said the Minister of Industry and Commerce Rishad Bathiudeen on 25 October. Joined by HE the Preident Maithripala Sirisena, Minister Bathiudeen was addressing the ‘Qatari-Sri Lankan Business Forum’ in Doha on 25 October. According to the Depatment of Commerce, Sri Lanka’s exports to Qatar remains low, averaging around US$ 14.5 Mn in 2016. Main export items from Sri Lanka include Bananas including Plantains in fresh or dried form, Edible Preparations, Coconut Milk Powder, Tea, Sweet Biscuits, Apparel, Vegetables in fresh or dried form etc, while products such as Plastics, Aluminum products, Paper & paper products, Iron & Steel products, Organic Chemicals etc. feature as its key import items from Qatar. Sri Lanka’s total imports from Qatar stood at US$ 30.1 Mn in 2016. “We all know that Qatar has a very good potential in the fields of education, technology, and infrastructure. We are looking forward to establishing fruitful business linkages and partnerships with Qatari authorities in all conceivable areas for co-operation” said Minister Bsthiudeen, and added:”Sri Lanka is aiming to expand its presence in Qatar, specifically in the Qatari employment market. Our professional, skilled and semi-skilled workforce have the capacity to contribute productively to the growth of the Qatari economy. Sri Lanka is also blessed with an expat friendly environment with housing, leisure and schools to accommodate the needs of the business and the entrepreneurial community, which stands out as an added advantage. I invite Qatari business personnel and the Sri Lanka Diaspora to acquire the full advantage of this Forum and the opportunities present in my country. Our government has embarked upon a new direction, which also gives an important place to recognizing the ability of the Sri Lankan diaspora to join hands with us in the socio-economic development process. We are not immune to the global fluctuations that affect our market potentials considerably. It is in this context that we look for new markets and seek to consolidate greater economic relations with friendly nations such as Qartar. We are implementing a series of reforms to revitalize Sri Lanka’s export competitiveness including the ease of doing business. It will integrate the country more closely with the region and the rest of the world. The supportive legal reforms to be introduced particularly to Inland Revenue , Foreign Exchange , State Land Bank, Anti Dumping will considerably improve the business-friendly environment. The Qatari market is an important destination for Sri Lanka. There is greater potential available to be tapped by our business sector. It is therefore our hope that this forum will create a platform for networking by both our entrepreneurs and the business personnel to reap the expected targets in our trade and investment relations.” According to the Department of Commerce of SriLanka, Qatar is also an important employment market -Sri Lankans mostly employed in minor job categories. Sri Lankan President Maithripala Sirisena and HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani listen to a presentation delivered during the ‘Qatari-Sri Lankan Business Forum’ in Doha. Joining them are Sri Lanka’s Minister of Industry and Commerce Rishad Bathiudeen, Minister of State for Foreign Affairs Vasantha Senanayake, and Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani, as well as other dignitaries. (PHOTO COURTESY: GULF TIMES)

Makes presentation at 3^rd Forum of 21^st Century Maritime Silk Road and 6^th Shenzhen International Port Chain Strategy Forum The pivotal role played by the Port of Colombo in global trade and its contribution towards the betterment of the South Asian region was the focus of a presentation made by Colombo International Container Terminals (CICT) recently at an international forum in Shenzhen, China. The presentation was made by Ms. Catriona Jayasundera, the Head of Commercial and Marketing of CICT at the ‘3^rd Forum of 21st Century Maritime Silk Road and the 6^th Shenzhen International Port Chain Strategy Forum’ which was part of the 12^th annual China (Shenzhen) International Logistics and Transportation Fair (CILF). Her presentation, during the second section of this forum at Asia’s leading logistics and transportation fair was titled ‘Port of Colombo – The Pivotal Point of Global Trade.’ Among other panelists alongside Ms. Jayasundera were senior representatives from Rocky Mountain Institute, USA; Port of Antwerp, Belgium; Port of Taranto, Italy; Incheon Port Authority; and Port of Gdansk, Poland. Ms. Jayasundera also signed the ‘Shenzhen Declaration 2’ on behalf of CICT. The declaration contained guidelines for and a consensus on promoting collaborative innovation of Port technology and services, and for strengthening cooperation in port chains. Commenting on the company’s participation in the forum, CICT’s CEO Mr Ray Ren said: “As an integral part of the Port of Colombo, CICT has always focussed on promoting the strengths and strategic location of the port to global players. We use every opportunity available to raise awareness of what Colombo has to offer, and this presentation reached a very influential audience.” This year’s forum was organised by the Ministry of Transport of the PRC, the Shenzhen Municipal People’s Government, and Shenzhen Logistics and Supply Chain Management Association. Since 2006 CILF has been a popular platform which attracts well-known international companies from industries such as logistics, transportation, IT solutions and related fields. Its focus is primarily on promoting the international influence of China’s logistics industry. CICT, which commenced operations in July 2013, manages the Colombo South Terminal of the Port of Colombo, the first and currently the only deep water terminal in South Asia equipped with facilities to handle the largest vessels afloat. The commencement of CICT’s operations is widely credited as the factor in the Port of Colombo achieving double digit growth in 2014 after a lapse of over ten years. In just three years of operation, CICT has brought some of the largest vessels plying the Asia-Europe routes to Colombo. Of these, Milan Maersk (20,568 TEU), MSC Maya (19,224 TEU), Mogens Maersk (18,300 TEU), MSC New York (16,652 TEU), CMA CGM Marco Polo (16,020 TEU), Edith Maersk and EMC Thalassa Hellas (each 14,000 plus TEUs) and their sister vessels are now regular callers at CICT.

Catriona Jayasundera addresses the forum.

Travellers from Colombo to Melbourne are eligible for an extra baggage allowance of 10kgs on outbound travel till end November 2017 courtesy of Emirates, a global connector of people, places and aspirations. Available on one-way or return tickets booked before 31^st October, this exclusive extra baggage allowance, worth Rs 77,000, is particularly beneficial to students travelling to Melbourne for higher studies, the airline said. Economy Class passengers who avail of this offer can carry up to 40kgs on their outward journey, while Business and First Class travellers may carry up to 50kgs and 60kgs respectively. “Emirates is a preferred airline for travel from Sri Lanka to Melbourne for several reasons,” said Chandana de Silva, the award-winning airline’s Area Manager for Sri Lanka and Maldives. “These include our daily flights to Singapore and the excellent onward connection to Melbourne, the unmatched inflight experience we offer, as well as the opportunity to fly the iconic A380 aircraft on the Singapore-Melbourne sector.” “This extra baggage allowance is an example of our understanding, in particular, of the needs of students travelling for the first time, or returning to continue their studies,” he added. In service for nine years, the Emirates A380 remains the most talked-about passenger aircraft in the world today, so much so that many passengers deliberately plan their travel so that they can fly on it. Since 2008, Emirates has flown over 80 million passengers on its A380 fleet, and takes delivery of its milestone 100^th A380 aircraft on 3^rd November. On board the A380, passengers in premium class seating can relax in Emirates’ flat-bed seats and enjoy the Emirates Onboard Lounge. First Class passengers can unwind in their very own Private Suite and prepare for their arrival in the Emirates A380 Shower Spa. All passengers on Emirates flights enjoy more than 2,500 free channels of films, TV shows, music, games and podcasts through ice Digital Widescreen, the airline’s multi-award winning in-flight entertainment system, inflight Wi-Fi throughout all aircraft, regionally inspired gourmet cuisine and Emirates’ renowned inflight service from the airline’s multi-national cabin crew comprised of over 135 nationalities. Travel with Emirates also earns passengers Skywards Miles on the airline’s award-winning frequent flyer programme. Accrued Skywards Miles can be redeemed for free tickets, travel upgrades or other benefits.

His Excellency the Hon President of the Maldives Abdulla Yameen introduced the Mastercard Passport Card to the cabinet ministers at his office recently. Top cabinet ministers and department heads such as the Minister of Economic Development, Minister of Home Affairs, Minister of Defence and National Security, Minister of Finance and Treasury, Minister of Foreign Affairs, Minister of Tourism, the Attorney General, Chief of Defence Force, Commissioner General of Customs, Controller General of Maldives Immigration, the CEO of the Bank of Maldives along with Mastercard Country Manager for Sri Lanka and Maldives R B Santosh Kumar were present at the occasion. Maldives Passport card is a Mastercard Biometric Debit Card issued by the Bank of Maldives. It is a Dual Interface Chip card with additional features and applications. It is the first Payment card in the World by a network which has Passport, National ID and Driving license of the cardholder in one plastic card. The Mastercard Passport Card can be used for a wide range of purposes/services. Primarily the Passport Card is an identity travel document complying with the ICAO data standards allowing it to be used at e-gates at the Maldives International Airport. Additionally, it can be used for identity verification by law enforcement agencies. It can also be used to provide government services such as medical services and other e-services. The card can be utilized as a special insurance card when required, for cashless health insurance services and motor insurance policy verification. The Mastercard Passport Card is the world’s first bank card which is made of polycarbonate material that can last up to 10 years. The flexibility of the Passport Card allows additional services and information to be incorporated to the card. E-services such as e-transport, academic information, medical information and many more can be included. For added security the card will contain biometric data of the cardholder such as fingerprints. The card is certified by Mastercard and the Bank of Maldives allowing cardholders to use it internationally like any other Mastercard. The additional passport security features makes the card more secure than any other payment card in the market today. This streamlined solution reduces the need to carry other documents and provides the cardholder with a secure and convenient method of payment. Commenting on the Passport Card, R. B. Santosh Kumar, Country Manager – Sri Lanka and Maldives, Mastercard, said, “We are honoured to have presented the Passport Card to His Excellency the President. At Mastercard we are focused on providing our customers with innovative payment solutions and enhanced payment experiences. Hence we believe that by introducing a Passport Card with the Government of Maldives we will be reducing hassle and improving overall experiences. And by incorporating the payment method into such vital documentation it will help facilitate greater financial inclusion.” (From left) Mohamed Saeed, Minister for Economic Development, Republic of Maldives; President of Maldives, H.E. Abdulla Yameen and Mohamed Anwar, Controller General of Maldives Immigration

(From left) Andrew Healy, Chief Executive Offer (CEO), Bank of Maldives; Mohamed Anwar, Controller General of Maldives Immigration and R. B. Santosh Kumar, Country Manager – Sri Lanka and Maldives Mastercard at the event

A specimen of the Mastercard Passport Card

The Sri Lanka Association of Inbound Tour Operators (SLAITO) has extended its support to the initiative taken by the Department of Wildlife to limit the number of vehicles entering Yala National Park. The Association is of the view that Yala is over visited and continued over visitation will only result in the ruin of Yala itself. A list of workable proposals on managing the over-visitation in Yala has been detailed in a report that was formulated by a committee consisting of all stakeholders, including the DWC under the guidance of the policy planning office of the Prime Minister’s office. The implementation of these proposals will be carried out by the DWC as the sole custodian of the National Parks under the Fauna and Flora ordinance. This report was the result of a six-month long process. The proposals if implemented will manage the over visitation without it affecting the economic benefit to the DWC or the local stake holders in the area. Increasingly, over-visitation of Yala is posing a threat to the flora and fauna in the park. Environmentalists have stressed the need for strict regulations to limit the number of vehicles entering the park for some time now, so as to retain the bio diversity in the park and reduce pollution caused by vehicle emissions. In recent months, the negative publicity of over-visitation as shared in social media and newspaper reports is rendering Yala unpopular among foreign tour operators, thus affecting tourism revenue and livelihoods. Overseas tour operators who are mindful of ethical tourism are reluctant to include Yala in tour itineraries as tourists often complain that the good experience of an animal citing is often marred by overcrowding of vehicles in the one location, even leading to traffic jams. This move to regulate visitation into the national park is expected to be received favourably by tour operators. This joint consensus is a pioneering and ideal approach to ensure all stakeholders are consulted in matters that can have an impact on livelihoods and the economy. As the apex body for in-bound tourism and established to promote and foster the rapid and long term growth of tourism in Sri Lanka by providing and maintaining a high standard of excellence in the services provided for the comfort and convenience of the tourist in all aspects, the Sri Lanka Association of Inbound Tour Operators (SLAITO) champions industry causes.

Zeppelin has, throughout its 35-year history, brought in outstanding and innovative products. Now, to help Sri Lankans ride the wave of vinyl’s revival they have introduced this cool belt-driven three speed Briefcase Record Player with true portability and fitted with unbelievable technology such as dynamic full range stereo speakers, RCA, head phone jack outputs, USB port, Bluetooth transmitter, SD card and battery backup. Their aim is to create excitement in the minds and hearts of those who rocked the 60s, 70s and 80s while enticing those hooked on digital streaming music to take a peek, feel the beat and “groove” to a new dimension of sound never heard before. To complement a phenomenal product, Zeppelin also offers some great classic vinyl records by Elvis, Jazz Legends including Bob Marley, as well as Country Music, Simply Soul, Christmas, Rock N Roll Classics, and 70s Disco. Last year sales of vinyls in the UK overtook digital sales for the first time. The rawness and richness of music on vinyl was almost forgotten but vinyls have now made a massive comeback. And what an encore it is, when you consider how its popularity sank from the 80s onwards with the advent of new and handier ways to reproduce music. Back then, it was exciting to go to the record shop, buy a record and hold it, smell it, read the liner notes, and look at the incredible artwork. But each advance, from cassettes to compact discs to MP3 to streaming, put another nail in vinyl’s coffin. When digital formats allow us to access music anytime and anywhere, how is it possible that analog formats are now the fastest growing? The key is a combination of sound and experience. Now, popular bands and individual artists are actually releasing new music on vinyl, and record stores (both new and used) are popping up everywhere. The market for used records has never been busier. Does the return of vinyl — even as we listen to streaming services on the drive to work: represent progress and not regression? Arguably, vinyl’s true gritty sound makes the music flowing from it sound richer than can be achieved by CDs with their compression, digital recording and mastering techniques. Some say that music on MP3 or CD often sounds cold and clinical – less human, warm and real than the sounds on vinyl. “Vinylphiles” say that listening to records often demands rapt attention. They tend to sit and really listen more consciously because they’re often taken aback by how much better their favorite music sounds in analog form. Zeppelin’s beautiful briefcase record player is set to cultivate the global Vinyl Revival in Sri Lanka too. For more information contact 0777324252 or 0773546595. Photo caption: (Above) Experience the revival of vinyl in Sri Lanka with Record Player Classic Portable Suitcase 3 fitted with dynamic technology and true portability and (below) Zeppelin also offers great classic vinyl records by Elvis, Bob Marley, Jazz Legends as well as Country Music, Simply Soul, Christmas, Rock N Roll Classics, and 70s Disco

Fitch Ratings has assigned Bank of Ceylon’s (BOC, AA+(lka)/Stable) proposed Sri Lanka rupee-denominated Basel III-compliant subordinated unsecured debentures an expected National Long-Term Rating of ‘AA(lka)(EXP)’. The debentures, totalling up to LKR8 billion, are to have maturities of five and eight years, and carry fixed- and floating-rate coupons. The bank plans to use the proceeds to support its loan book expansion and to strengthen its Tier II capital base. The debentures are to be listed on the Colombo Stock Exchange. The debentures are to qualify as Basel III compliant regulatory Tier II capital for the bank and include a non-viability trigger upon the occurrence of a trigger event, as determined by the Monetary Board of Sri Lanka. The draft terms indicate that the notes are subject to temporary partial or full write-down upon the occurrence of a trigger event. There are no equity conversion provisions in the terms. The final rating is subject to the receipt of final documentation conforming to information already received. KEY RATING DRIVERS BOC’s National Long-Term Rating, which reflects expectation of extraordinary support from the sovereign (Long-Term Issuer Default Rating: B+/Stable), is used as the anchor rating. This is because Fitch expects pre-emptive extraordinary support from the government to prevent non-viability, given BOC’s strong state linkages and high systemic importance. Fitch has not differentiated the notching on the proposed notes from the notching on BOC’s legacy Tier II notes. Fitch rates the proposed Basel III Tier II notes one notch below the bank’s National Long-Term Rating of ‘AA+(lka)’. The notching includes only one notch for loss severity; there is no additional notch for non-performance risk as this is captured by support-driven National Long-Term Rating. The notching for loss severity reflects the notes’ higher loss-severity risks compared with senior unsecured instruments due to the notes’ subordinated status. Fitch has applied one notch, rather than two notches, for loss severity, as partial, and not solely full, write-down of the notes is possible. In Fitch’s view, there is some uncertainty as to the extent of losses the notes would face in case of a trigger event given that this would be dependent on the size of the operating losses incurred by the bank and any measures taken by the authorities to help restore the bank’s viability. Fitch has not applied additional notching to the notes for non-performance risk according to Fitch’s criteria, as the notes have no going-concern loss-absorption features, and Fitch believes that write-down of the notes will only occur once the point of non-viability is reached. Fitch sees the propensity for sovereign support for BOC as stemming from its high systemic importance, quasi-sovereign status, role as a key lender to the government and full state-ownership, albeit constrained by the sovereign’s limited ability to extend support. RATING SENSITIVITIES The rating of the notes would move in tandem with BOC’s National Long-Term Rating.

Reuters – Sri Lankan shares touched a near three-month closing high on Thursday as investors picked up bank and diversified shares, brokers said.

The Colombo stock index finished 0.28 percent firmer at 6,633.20, its highest close since July 31.

Shares of the biggest listed lender, Commercial Bank of Ceylon Plc, rose 1.8 percent while Hemas Holdings Plc ended 2.4 percent higher. Sampath Bank Plc climbed 2.3 percent while conglomerate John Keells Holdings Plc gained 0.7 percent.

“Market is up on foreign blue chip buying. Foreigners are active again and block deals pushed the turnover levels,” said Atchuthan Srirangan, senior research analyst, First Capital Holdings PLC.

“Retail investors are still awaiting corporate results and budget, but foreign investors are active.”

Finance Minister Mangala Samaraweera will present the 2018 budget on Nov. 9.

Turnover stood at 1.2 billion rupees ($7.8 million), more than this year’s daily average of 938.3 million rupees.

Foreign investors net bought shares worth 36.1 million rupees on Thursday, extending the year-to-date net foreign inflow to 19.7 billion rupees worth equities.

Pyramid Wilmar launches MEADOWLEA in Sri Lanka

Especially-designed to cater to local palettes

Ceylon Chamber & ITC holds joint work on WTO Trade Facilitation Agreement

Looking To The Future: Nations Trust Bank Establishes Innovation Lab, Will Host First Ever Fintech Hackathon

Vista Rooms partners with handy to empower hotels with free smartphones, including unlimited data and calling for guests

Hemas Hospitals Thalawathugoda launches ‘Hemas Diabetes Clinic’

SLIM holds Certification Ceremony 2017 in a splendid manner

Sri Lankan shares mark near 2-wk closing high; banks lead

Fashion Bug awards Roo Siththam 2017 winners

Hemas Hospital Wattala commits to fight against breast cancer

HNB Grameen Finance Limited appoints two new Directors

Lions of Colombo (Host) donate the ‘Gift of Life’ to over 2500 people in Tudugala, Sobithagama

Licensed Banks to Enhance Minimum Capital by end 2020

Sri Lanka aiming to expand in Qatar

CICT highlights Colombo Port as a pivotal player in global trade at CILF

Extra baggage allowance from Emirates for travellers to Australia

Mastercard and Bank of Maldives Introduce Passport Card in Partnership with Maldives Immigration

SLAITO backs Government’s responsible initiative to regulate number of vehicles entering Yala National Park

Zeppelin turns tables to bring back vinyls and record players from near extinction

Fitch Rates Bank of Ceylon’s Basel III Sub-Debt ‘AA(lka)(EXP)’

Sri Lankan shares hit near 3-month closing high; banks lead