After a marathon three day bilateral trade session in Colombo that ended on 26 October, both Russia and Sri Lanka achieved a greater understanding on breaking the Ceylon Tea impasse that has been dogging their trade cooperation efforts lately. ‘We warmly welcome the Russian delegation to Colombo” said the Secretary of Ministry of Industry and Commerce D.N. R.Asoka on the morning of 26 October. Secretary Ashoka, leading Sri Lankan side and representing the Minister of industry and Commerce Rishad Bathiudeen, was addressing the final session of Second Session of Russia – Sri Lanka Inter-Governmental Commission on Trade, Economic, Scientific and Technical Cooperation at Cinnamon Grand Hotel, Colombo. The Russian side was led by the Deputy Minister of Agriculture and Head of the Federal Agency for Fishery of the Russian Federation, (HE) I.V. Shestakov. Also joining the session were Commerce Department Director General Sonali Wijeratne, (HE) Materiy Yuriy Borisovich (Russian Federation’s Ambassador Designate to Sri Lanka) and Ambassador of Sri Lanka to the Russian Federation Dr. Saman Weerasinghe.
The total trade between the two countries in 2016 was at US $ 363 Mn, a decline of 17% over 2015. During the first eight months of 2017 however, trade returned to the growth trend –increasing by 5.6% to US$ 247.2 million in comparison with the US$ 234 million in the same period in 2016.
‘We warmly welcome the Russian delegation to Colombo” said Secretary Ashoka and added: “While highlighting the long-established friendship and cooperation between the two nations, I am confident that this Commission’s functioning would inject a strong impetus in further strengthening the mutually beneficial trade and economic ties between Sri Lanka and the Russian Federation.”
Russian Minister Shestakov thanked the Sri Lankan Co-Chair for the hospitality extended to them. “This is an important event in Russia-Sri Lanka bilateral trade cooperation” he said and stressed: “We are willing to implement the decisions adopted by this Commission in a consistent manner”.
Sri Lankan side continuously pressed for the reduction of import duty by Moscow on its Ceylon Tea exports. Sri Lanka’s complaint was that the duties were based on gross weight of value added teas -that includes packaging material such as ceramic and wooden tea containers-rather than only the weight of net teas. The Russian Side stated that currently, in accordance with the Customs Code of the Customs Union, the basis for calculation of Customs Duties (subject to type of goods and applicable duties) is customs value of goods and/ or its physical characteristics in physical terms (quantity, mass with original packaging which is inseparable from the goods and in which the goods are due for retail, volume of goods or other characteristics). More importantly, the Russian side stressed that “it would take part in this regard within the limits of its competence in working out this issue with all the member states of Eurasian Economic Union.”
At present, Ceylon Tea is the leading Lankan export to Russia, and last year tea claimed 78% (at US $ 143 Mn) of Sri Lanka’s total exports ($ 182 Mn) to Russia. Other key Lankan exports to Russia last year were apparel, textile fibres, apparel accessories, and activated carbon.
Both sides also noted that the value of their bilateral trade had not reached the desired level over the recent years and called for ways to enhance efforts to improve trade through “efficient exploitation of the hitherto untapped potentials”.
Among the Russian agencies represented at 26 October session were Russia’s Ministry of Economic Development, Ministry of Industry and Trade, Russian Fishery Agency, Ministry of Agriculture, and corporates such as SPHAERA Company, Diasoft, PROTEI, Sukhoi Civil Aircraft, and Russian Helicopters. Among Sri Lankan institutions joining the discussions were the EDB, Fisheries Ministry, SL Standards Institution, the Air Force, the Gem and Jewelry Authority, and the Agricultural Ministry.
The first ever Russia – Sri Lanka Inter-Governmental Commission on Trade, Economic, Scientific and Technical Cooperation Session concluded successfully on 12 February 2016 in Moscow.
PHOTO – Front row second from left Russian Federation’s Ambassador Designate to Sri Lanka (HE) Materiy Yuriy Borisovich, visiting Deputy Minister of Agriculture and Head of the Federal Agency for Fishery of the Russian Federation (HE) I.V. Shestakov (third from left), Secretary of Ministry of Industry and Commerce D.N. R.Asoka (fourth from left), Ambassador of Sri Lanka to the Russian Federation Dr. Saman Weerasinghe (fifth from left) and Commerce Department Director General Sonali Wijeratne (second from right) at the last day of Second Session of Russia – Sri Lanka Inter-Governmental Commission on Trade, Economic, Scientific and Technical Cooperation at Cinnamon Grand Hotel, Colombo on 26 October.
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Russia & Sri Lanka begin efforts to end Ceylon Tea impasse
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Bimputh Finance Joins LankaPay Common ATM Network
Bimputh Finance PLC in a noteworthy move towards enhancing customer convenience, recently joined LankaPay Common ATM Switch. Established in 2007 as a licensed non-banking financial institution that operates with the prime objective of uplifting the living standard of marginalized communities by providing them with affordable access to financial services, Bimputh Finance have come to a firm footing with 19 branches and 31 service centres offering services to customers, mainly micro, small and medium entrepreneurs in Ampara, Jaffna, Monaragala, Puttlam, Kalutara, Gampaha, Batticoloa, Badulla, Hambantota and Colombo Districts. The partnership with LankaPay Common ATM Network brings in synergies that provide unparalleled convenience to Bimputh Finance customers by providing them with the ability to access their accounts from over 4000 ATMs island wide.
Speaking of this new initiative Mr. Chamindra Gamage, Deputy Chairman of Bimputh Finance stated “Bimputh Finance PLC is very excited to join the LankaPay network as it gives our clients access to much needed reach and convenience. Although we have over 50 physical branches and service centers island wide, we have embarked on many new initiatives which will provide unparalleled digital services to our clients. As one of the few finance companies providing access to LankaPay’s ATM network, we are committed towards enhancing our customers’ experience and are delighted that our customers can now use their debit cards at any ATM connected to the LankaPay network to avail cash withdrawals.”
While congratulating Bimputh Finance for coming onboard as the latest member of LankaPay Common ATM Network Mr. Channa de Silva, GM/CEO of LankaClear stated “Partnering with Bimputh Finance, a non-banking financial institute that has shown commitment in providing access to much needed finances for customers of all walks of life, is an important milestone in our journey towards empowering every Sri Lankan with faster, convenient, secure and affordable payment options. Over the past 4 years our network has grown to connect 99.5% of the total number of ATMs in the country, thereby enabling customers of any member bank to, literally, access their account from any ATM in the country irrespective of their bank. By providing a common platform and a network, we are creating a level playing field for all financial institutions irrespective of their size or the financial prowess they possess whilst optimizing the resource utilization.”
Launched in 2013, LankaPay Common ATM Network now has 27 members routing nearly 3.9 mn every month. The other members of the network are People’s Bank, Bank of Ceylon, Hatton National Bank, Seylan Bank, NDB Bank, Union Bank, Regional Development Bank, Commercial Bank, Cargills Bank, Habib Bank, Standard Chartered Bank, Sampath Bank, Pan Asia Bank, Nations Trust Bank, DFCC Bank, Public Bank, MCB Bank, National Savings Bank, Axis Bank, HDFC Bank, Amana Bank, Commercial Credit and Finance, HSBC, ICICI Bank, State Bank of India and Indian Bank
The Common ATM Switch is the first phase of the LankaPay Common Card and Payment Switch, which is envisioned to be the backbone of all domestic electronic payments in future. The launch of LankaPay Common ATM Network in 2013 marked a significant milestone in the country’s banking sector through common usage of resources generating greater economies of scale whilst enhancing customer convenience. Consequently the transaction cost to the banks and customers have come down drastically by almost 10 fold, saving the country billions of foreign exchange that would have otherwise drained out of the country.
Caption – (L-R) Mr. Hemanthe Samaliarachchi, Head of Certification and Integration of LankaClear; Mr. Isuru Jayaweera, Head of External Services of LankaClear; Mr. Dinuka Perera, DGM – IT & Operations of LankaClear; Mr. Channa de Silva, GM/CEO of LankaClear; Mr. Chamindra Gamage, Deputy Chairman of Bimputh Finance; Mrs. Tamara Wijesinghe, Chief Operating Officer of Bimputh Finance; Mr. Eranda Weerasinghe, Chief Finance Officer of Bimputh Finance; Mr. Achalanga Wanasinghe, Manager – IT of Bimputh Finance; and Mr Rasika Tharanga, Manager – IT of Bimputh Finance
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Microsoft helps customers digitally transform their businesses with cloud, AI and mixed reality — while also advancing the next frontier of computing
Microsoft Corp. recently welcomed over 25,000 business customers to its annual IT event, Microsoft Ignite in Orlando, Fla., where the company showcased how it is infusing cloud, AI and mixed reality across it products to help customers visualize and create the future of business. Microsoft also shared how quantum computers could help solve some of our planet’s biggest challenges. News spanned Microsoft’s commercial businesses — Office 365, Windows 10, Microsoft Azure, Dynamics 365 and Microsoft AI — with a focus on how the company is empowering people and organizations to succeed in a rapidly evolving workplace, and enabling customers to harness data, AI, hybrid and cloud technologies to evolve business process and innovate for the future.
“Digital technology is impacting all aspects of our society and economies, creating unprecedented opportunity for organizations of all sizes,” said Satya Nadella, CEO, Microsoft. “I’m optimistic and inspired by the ingenuity of customers, partners and developers everywhere that are pushing the frontiers of what’s possible with mixed reality and artificial intelligence infused across Microsoft 365, Dynamics 365 and Azure, to transform and have impact in the world.”
The next frontier of computing
Following 12 years of investment in its vision to create a scalable computer based on quantum physics, today Microsoft announced the creation of a new programming language optimized for exploiting scalable quantum computers and deep integration of the programming language into Visual Studio, providing developers debugging and other support and state-of-the-art simulators that can run locally or on Microsoft Azure. The tools will be available for free by year’s end. Developers can join Microsoft’s quantum community today by signing up at www.microsoft.com/quantum.
Empowering employees and fostering a new culture of work
Microsoft also announced the expansion of Microsoft 365 with two new solutions to empower firstline workers and education customers. The company also introduced new intelligent search capabilities, a vision for intelligent communications centering on Microsoft Teams, and security and IT management enhancements to help customers stay secure and compliant, including meeting the General Data Protection Regulation.Modernizing business processes with cloud and AI
Microsoft expanded Dynamics 365 with new AI solutions that transform critical enterprise scenarios and apps and services to help business users reinvent the processes they use every day. Microsoft Dynamics 365 AI solutions are designed to tackle high-value, complex enterprise scenarios and tailored to existing processes, systems and data. The first solution includes an intelligent virtual agent for customer care, an intelligent assistant for customer service staff and conversation management tools, all powered by Microsoft AI.Advancing the enterprise cloud
Microsoft Azure is driving new levels of organizational productivity, intelligent data-driven experiences and deepened business trust—all via a consistent, unique hybrid cloud approach across data, apps and infrastructure, whether on-premises or in the cloud.↧
Seylan Ethera Kasi Methara Wasi Monthly Draw Winner
Seylan Bank has always been in the forefront in the remittance business partnering global remittance giants and has an agent network of banks and exchange houses worldwide.
Seylan Bank in keeping up with its promise, ‘The Bank with a Heart’ introduced an exciting draw scheme named “Ethera Kasi Methra Wasi” for its remittance customers partnering with the global remittance services such Express Money, RIA, Speed cash and Unistream to name a few.
The draw offered a Grand Prize of rupees one million for one lucky winner, 6 lucky winners who received Rupees 100,000 each and 600 lucky winners who received rupees 5000/- each monthly as consolation prizes.
Customers who remit money from overseas to their loved ones in Sri Lanka through any of the above mentioned remittance services were offered a chance at the draw when they collected money from Seylan Bank.
Picture shows one of the monthly draw winners of the “Ethera Kasi Methara Wasi” from Seylan Bank Kalmunai Branch draw receiving the cash cheque for rupees 100,000/- from Mr. S Muttateesa, Area Manager East.
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THASL crowns most outstanding hoteliers at ‘Rising Star Awards 2017’
Concluding the long quest for the most outstanding personalities in the hotel industry, The Hotels Association of Sri Lanka (THASL) concluded the vibrant award ceremony ‘Rising Star Awards 2017’ on a successful note recently. Minister of Special Assignments Hon. Dr. Sarath Amunugama participated as the Chief Guest of the event while Minister of Tourism Development and Christian Religious Affairs Hon. John Amaratunga attended as the Guest of Honour. The event also drew many luminaries of the industry as well as distinguished guests from various spheres to the BMICH. This grand-scale and vibrant event was packed with lively entertainment and inspiring talks leading to the culmination of the night – the presenting of awards to the country’s most outstanding young hoteliers.
The highly competitive contest sparked interest amongst thousands of aspiring youth engaged in the hospitality sector, resulting in an overwhelming response to vie for the honours. The competitors were pitted against one another under nine specific categories namely Concierge, Receptionist, Public Area Attendant, Room Attendant, Steward, Kitchen Steward, Bartender, Pool Attendant and Telephone Operator. 46 finalists were chosen following the three months long rigorous evaluation and assessment process conducted under a panel of experts representing the industry and related disciplines.
Commenting on the occasion, H.E. President Maithripala Sirisena noted, “The tourism sector plays a key role in offering ample opportunities to the country’s youth at various levels. Organizing professional competitions of this nature and scale will have a positive impact on drawing fresh blood into the tourism sector, which is one of the most rapidly growing disciplines in the country.
Elaborating further President Sirisena added, “Sri Lanka’s strategic positioning is ideal for the development of the tourism sector. Ending of the Civil War has further opened new avenues for the growth of the tourism sector. We are also experiencing an influx of tourists, as well as witnessing the establishment of world class hotels in Sri Lanka. Creation of new touristic zones generates a great amount of employment opportunities, which in turn gives a positive vibe on the future of the tourism sector. The Hotels Association of Sri Lanka has made a tremendous contribution towards uplifting the tourism sector. Therefore I believe that Rising Star of Hospitality 2017, which is held for the first time in Sri Lanka, will no doubt meet their objectives, spread awareness among the masses and will drive the industry towards prosperity.”
Premier Ranil Wickremesinghe extended his congratulatory wishes to the winners of the Rising Star Awards 2017. In his message the Premier noted, “I am happy to send this message on the occasion of a unique initiative which has been undertaken by THASL – The Tourist Hotels Association of Sri Lanka, the apex body of the hotel sector in the country. It is commendable indeed to recognize and reward young talent between the ages of 18 to 27 years contributing to the success of the entire industry and the country, which has now earned a reputation for being one of the ‘ must visit’ holiday destinations for 2017. It is my wish to see other industries take a bold step to follow such initiatives which will undoubtedly inspire the youth, the future leaders of Sri Lanka.”
Minister of Special Assignments Hon. Dr. Sarath Amunugama addressing the audience underscored the important role played by the tourism industry and its contribution towards the national economy. “I was informed by my colleague that 2.2 million tourists have arrived the country since 2016 to date. The objective of the industry is to increase this number to 4 million in two years. The tourist arrival declined considerably during the period where essential renovation was carried out at the Bandaranaike International Airport’s main runway. Now that we possess an ultra modern runway, I believe we now have the potential to rebound and rapidly develop the industry by next year to meet the goal.”
Dr. Amunugama also stressed that the tourism sector has constantly attracted the youth in the country, and can potentially resolve one of the country’s critical problems of youth unemployment. “Every individual who arrives in the island is an ambassador of Sri Lanka. And they have played a major role in promoting a positive and favourable image of our country throughout the globe. Therefore, I would like to emphasize once again that the tourism industry plays an admirable service to boost the country’s image and income as well as to empower our youth. And I wish to extend the best wishes and congratulations extended by H.E. President Maithripala Sirisena.”
Addressing the gathering President of The Hotels Association of Sri Lanka Mr. Sanath Ukwatte shed light upon the reason behind organizing the nation-wide initiative. “There is already a significant shortfall in respect of skilled labour in to the service the industry. The phenomenal growth in supply with an unprecedented number of hotels planned or under construction, this is bound to be further aggravated. It is therefore absolutely essential to attract young talent, both male and female into the industry. We are the only industry which distributes 10% of our revenue amongst our employees in addition to the basic salary combined with benefits such as uniforms and free meals on duty. Furthermore, the opportunity of interacting with people from diverse cultures across the globe stand as a unique attribute of the hotel industry.”
Mr. Ukwatte further stated that the Hotels Association takes great pleasure in the achievements of these young stars and takes this opportunity to congratulate them on behalf of the entire industry. “We will continue to extend our fullest support to enhance young talent to achieve career success and become the future leaders of the hospitality industry in Sri Lanka.”
The winners are as follows:
Most Outstanding Bell Hop of the year 2017: Mr. Vishvanadan Vinoprasanth (Cinnamon Lakeside)
Most Outstanding Receptionist of the year 2017: Ms. T. Hettige Malisha (Jetwing Lighthouse)
Most Outstanding Public Area Attendant of the year 2017: Mr. John De Croos (Cinnamon Red)
Most Outstanding Room Attendant of the year 2017: Mr. M.S. Piumal Charuka (Jetwing Beach)
Most Outstanding Steward of the year 2017: Mr. Selvarasu Kumar Shanker (Cinnamon Grand)
Most Outstanding Kitchen Steward of the year 2017: Mr. R.P.V. Madushanka Gunarathne (Heritance Kandalama)
Most Outstanding Bartender of the year 2017: Ms. L.B. Maduka Priyadarshani (Cinnamon Lakeside)
Most Outstanding Pool Attendant of the year 2017: Mr. Dinuka Dhananjaya (Cinnamon Grand)
Most Outstanding Telephone Operator of the year 2017: Ms. Julani Veronica (Cinnamon Red)
Most Popular Rising Star 2017: Mr. Vishan Wijewickrama (Heritance Kandalama)
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Mr. Sanath Ukwatte- President of The Hotels Association of Sri Lanka, delivering the welcome speech at ‘Rising Star Awards 2017’
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Guest of Honour, Hon. Minister John Amaratunga at Rising Star Awards 2017
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The Chief Guest of the event Hon. Minister Dr. Sarath Amunugama at Rising Star Awards 2017
Mr. Sanath Ukwatte- President of The Hotels Association of Sri Lanka, delivering the welcome speech at ‘Rising Star Awards 2017’
Guest of Honour, Hon. Minister John Amaratunga at Rising Star Awards 2017
The Chief Guest of the event Hon. Minister Dr. Sarath Amunugama at Rising Star Awards 2017
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ADB Boosting Renewable Energy in Sri Lanka with 100 MW Wind Park
The Asian Development Bank’s (ADB) Board of Directors has approved a loan of $200 million with sovereign guarantee for Ceylon Electricity Board to develop Sri Lanka’s first 100-megawatt wind park.
“The new Wind Power Generation Project will not only provide access to a clean and reliable power supply in Sri Lanka, but also create an environment for further wind power development through future public-private partnerships,” said Mukhtor Khamudkhanov, an ADB Principal Energy Specialist. “Diversifying the country’s power generation through clean, renewable energy sources will improve the country’s energy security and environment.”
Sri Lanka boosted its national electrification from 29% in 1990 to more than 99% in 2016. Yet the power sector continues to struggle to meet the growing demand for an affordable and reliable electricity supply.
With the share of thermal (coal and oil-fired) power still accounting for two-thirds of power generation in 2016, there is an urgent need to develop clean energy sources such as wind and solar energy, reduce losses in the system, and boost energy efficiency.
While the remaining third of total generated power in 2016 was from renewable sources, most of this was accounted for by large hydropower facilities. Only about 8% comes from nonconventional renewable energy sources such as mini hydro, wind, solar, and biomass. The country’s goal is to increase the share of these nonconventional renewable energy sources to about 20% of the total generated power by 2020.
Besides the wind farm, to be constructed on Mannar Island in Northern Province, the project will provide the associated infrastructure, such as internal cabling and access roads, energy dispatch control center, and reactors to manage voltage levels.
More generally, the project will also establish the procedures to enable the Ceylon Electricity Board—the executing and implementing agency for the project—to act as a wind park developer that can attract the private sector in future wind power generation. These include establishing cost benchmarks and conducting competitive bidding for future wind power projects, and managing the flow of intermittent wind energy through the power system.
The Ceylon Electricity Board will provide $56.7 million toward the total project cost of $256.7 million. The estimated completion date for the project is the end of 2021.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in cofinancing.
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No relaxation in work visas for Indians in free trade pact, says Sri Lankan Minister
Concessions likely for investments in IT, health sectors: Samarawickrama
The Hindu Business Line – Indian professionals and workers will not get any direct concessions to ease their travel for work in Sri Lanka as part of the extended Free Trade Agreement (FTA) being negotiated between the two countries, Sri Lankan Minister for International Trade Malik Samarawickrama has said.
Sri Lanka will, however, allow some relaxation in visas and work permits for workers in certain identified sectors such as IT and health, in cases where investments flow from India, Samarawickrama told BusinessLine in an interview.
“We have said we cannot agree to Mode 4 (movement of natural persons). But under Mode 3, certain sectors, such as IT and health, will be allowed to invest and set up operations in Sri Lanka. Such investors can be allowed to get workers subject to some benchmarks such as minimum salary,” the Minister said on the sidelines on the World Export Development Forum 2017, organised by the International Trade Centre in Budapest.
The sectors where investments could be allowed are still being worked out with inputs from the industry.
India and Sri Lanka signed a free trade agreement in goods in 1998, which resulted in higher imports from Sri Lanka in the initial years, with India catching up later. The two are now extending the agreement by negotiating an Economic Technology Cooperation Agreement (ECTA) that would include services and investments.
“There is no doubt that Sri Lanka has benefited immensely from the FTA in goods with India. About 70 per cent of our exports to India happened after the FTA was signed based on duty-free access. From India’s point of view, it is only 7-8 per cent. We have to be happy with that,” Samarawickrama said.
India is keen to finalise the ECTA early from both economic as well as strategic point of view, as China too is negotiating an FTA with Sri Lanka.
Sri Lanka is hopeful that the ECTA will be signed by June next year as negotiations were going on “satisfactorily”.
“We want the ECTA to lead to Indians setting up industries in Sri Lanka and re-exporting to India. We want to go up the regional value chain. We want parts to be made in Sri Lanka and sent for assembly to India in sectors like rubber-based products and automotive parts,” the Minister said.
The non-tariff barriers faced by Sri Lankan exports to India in the form of varying quality standards could be sorted out through mutual recognition agreements, he added.
India’s exports to Sri Lanka in 2016-17 stood at $3.9 billion, nearly half of its exports in 2014-15 at $6.7 billion. Sri Lanka’s exports to India in 2016-17 stood at $602 million.
(The writer is in Budapest at the invitation of the International Trade Centre)
http://www.thehindubusinessline.com↧
Seylan Bank continues its steady performance
~ Records Profit-After-Tax of Rs. 3 Billion in 3Q
The Bank closed the 9 months ending 30th September 2017 with a post-tax profit of Rs.3,002 Mn, a moderate growth of 6% over the corresponding period last year. These results were impacted by provisions made on account of a legacy NPA, payment of which is due from the Compensation Tribunal.
Growth in advances coupled with the rise in interest rates enabled interest income to grow by 35% and interest expenses increased by 48% due to funds moving into higher yielding fixed deposits. Further impact on interest cost was partly cushioned by CASA base over Rs. 90 Bn. As a result Net interest income recorded a commendable growth of 17.2 % to reach Rs. 11,376Mn.
Net fees and commission income recorded an impressive growth of 25% for the period under review driven by core banking related transactional fees and net trading income recorded a gain (compared to mark to market losses in the prior period) due to favourable movements in the yields of the underlying Government Securities.
Total expenses increased by 14.8% from Rs. 7,146 Mn to Rs. 8,200 Mn and were fuelled by new investments in technology and human capital developments. Cost management initiatives coupled with the implementation of lean concepts across the Bank has aided in rationalising key cost lines.
The Bank reported a credit growth of 8.3 % increasing the advances from Rs. 236 Bn to Rs.255 Bn while the deposit base grew from Rs. 273 Bn to Rs. 295 Bn during the nine months ended 30th September 2017. Bank CASA ratio stood over 30 %.
The Gross NPA (Net of IIS) Ratio stood at 4.67% as at 30th September 2017, a reduction of approximately 0.5% over the three months from the previous quarter.
Overall as a result of the strong performance during the nine months, Bank’s Earning per Share(EPS) improved from Rs. 8.20 to Rs. 8.54 . The Bank recorded a Return on Average Assets (ROAA) of 1.60% and Return on Equity (ROE) of 13.44%. The Bank’s Net Asset value per share as at 30th September 2017 was 92.53(Group Rs. 97.08).
The Bank’s Common Equity Tier 1, Total Tier 1 and Total Capital Adequacy Ratio remained strong at 10.73%, 10.73% and 13.07% respectively as at 30th September 2017, as against the statutory minimum as per the BASEL III requirement applicable with effect from 1st July 2017.
As at 30th September 2017, the Bank network comprised of 167 Banking centres, 203 ATMs and 6 CDMs giving seamless accessibility to its customers across the country. The Bank is currently in the midst of rolling out its 2020 strategic plan focusing on relationship building, SME sector, Digital Channels and sales.
The Bank continued its CSR initiatives focusing on education and accelerated its libraries project for under privilege schools. During the nine months 19 school libraries were opened taking the overall number of libraries opened under the project to 139.
Photo caption: Chairman of Seylan Bank Mr. Ravi Dias (left) and Director / CEO of Seylan Bank Mr. Kapila Ariyaratne
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Hayleys Engineering unveils state-of-the art customer experience center
Hayleys Engineering recently unveiled Sri Lanka’s first ever Engineering Experience Center that provides engineers, consultants and clients the opportunity to experience latest technology and technology yet to come to Sri Lanka.
Situated at the Hayleys Engineering offices on 180/3 Arnold Ratnayake Mawatha, Colombo 10, the new facility was designed as a solution to the recurring challenge that consultants and engineers face in testing products in conditions similar to the typical working environments by providing a frictionless experience that mimics automated, secured and flexible home and office spaces.
The new concept center will serve as a working showcase with flexible configurations built to represent various use cases common in high-rise, hotel, administrative, commercial and industrial buildings meaning that potential clients gain a deeper understanding of how the latest technology can be practically implemented within a single tour of the facility.
“The opening of the Hayleys Engineering Experience Center represents our continuing commitment to provide unprecedented value our valued customers. By providing them with real-time experiences and allowing them to see how our teams work is the best way to understand the true potential of our cutting edge products.
“Particularly at a time when Sri Lanka’s construction is making rapid progress at a rate that is almost on par with the rest of the world, we believe that it is crucial to introduce the very best that technology can offer into the domestic industry in order to harness the true innovative and creative potential of the market. In that regard, Hayleys Engineering is committed to playing a catalysing role in the local industry, providing solutions and the very latest technology needed to take the nation onto a higher growth trajectory,” Hayleys Engineering Application Engineer, Narada Balasooriya said.
The Experience Center houses a diverse spectrum of products including Security, Building Management, Generator, Energy Management, Pump, HVAC systems, Material Handling and Fire Systems, while the company also plans to add further products showcasing the latest in total renewable and energy management systems, a vital step towards the expansion of affordable, high quality, green building solutions into the Sri Lankan market.
Hayleys Engineering is a business entity operating under the umbrella of Hayleys Aventura a subsidiary of the Hayleys Group dedicated to providing innovative, creative and practical industrial solutions. Hayleys Aventura engages in business-to-business relationships using an extremely flexible portfolio of products and services capable of offering industrial solutions for every need, while tailoring solutions based not only on a business’ existing and future needs.
Photo caption: (Above) Sri Lanka’s first ever Engineering Experience Center from Hayleys Engineering
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(Left) Hayleys Engineering Director, Kalum Gunasekara; Hayleys Aventura Managing Director, Arul Sivagananathan; Hayleys Chairman and Chief Executive, Mohan Pandithage and Hayleys Aventura Deputy Managing Director, Deepthi Hewageegana at the ceremonial opening of new Hayleys Engineering Experience Centre. (Right) Hayleys Chairman and Chief Executive, Mohan Pandithage speaking at the event
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Invoke completes 365 days of total real estate development solutions
Invoke (Pvt) Ltd, the Property Marketing and Sales Specialist renowned for their expertise in design augmentation, production of marketing collateral, client solicitation and relationship management completes a successful first year.
While there remains a consistent demand for dwelling spaces within Colombo and its suburbs, the ever discerning cliental have no shortage of options to choose from. It is in this light that contemporary “out of the box” strategies and tactics planned and executed by Invoke has given its’ Property Development clients an edge.
Over the course of the year, Invoke has managed to forge strong, mutually beneficial relationships with developers whose primary interest is to offer the finest, most contemporary living spaces to the Sri Lankan Market. Invoke ideally prefers working with real estate developers from the very inception of the project to ensure their product, pricing, location, and marketing strategies are in sync with the intended market and market conditions. In the fast and competitive world of real estate development, what makes Invoke standout from the crowd is its innovativeness and service that strives to go above and beyond. The experienced, professional and result-oriented team at Invoke ensures the projects they venture into differentiate and offer more than the ‘typical’ complexes that keep springing up across the country. Invoke’s consultancy input and scope also involves recommending floor layouts to building and facilities augmentation to a turn-key marketing and sales solutions including production of all marketing collateral, coordinating and facilitating the required legal process, follow-up and fund collection. Invoke offers a complete range of professional services to increase chances of a successful sale. This is further done through the expertise that they possess in communicating the developer’s vision and mission, stability and credibility in a way that inspires confidence in the minds and hearts of the potential buyer and is seen in the highly positive response that the projects have received.
Invoke having sold out two projects in Nawala, are currently handling two more projects in Mount Lavinia and Colombo 05 apart from 4 additional projects they will be introducing to the market within the last quarter of 2017.
Avenue 9 is an enchanting abode strategically located away from the hustle and bustle of the busy roads, at No. 3, Mount Avenue. This luxurious condominium complex is ideal for those seeking to find solitude while not compromising being in close proximity to essential amenities. Consisting of eight intricately laid out luxury three-bedroom units, a magnificent penthouse and a lounge rooftop overlooking the Indian Ocean, Avenue 9 is also ready to be completed in November this year.
Throughout its year in service, Invoke has made its name for introducing many industry firsts. With Elegant 16, Invoke introduced the concept of ‘boutique living’ in Sri Lanka. Located within the residential hub off Elvitigala Mawatha Colombo 5, this new-age concept apartment is set to consist of sixteen well laid out 2-bedroom and 3-bedroom and be completed by March 2018.
For more information please contact Invoke on 0772455233 / 0772421121 / info@invoke.lk or visit their website www.invoke.lk
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HNB partner with Ideal Motors to promote Mahindra vehicles in Sri Lanka
Sri Lanka’s most innovative bank, HNB PLC announced the partnership with Ideal Motors (Pvt.) Ltd to continue its promotion of Mahindra vehicles in Sri Lanka.
The renewed partnership will enable buyers of brand-new Mahindra vehicles to be eligible for highly attractive, fully customized leasing packages with the lowest interest rates in the market, brought about by synergies within the HNB Group.
As part of the continuing partnership, HNB Leasing will also be providing simple, quick leasing solutions for all buyers of new Mahindra vehicles across all of its 252 customer centers around the island. Additionally, customers will also receive life insurance cover from HNB Assurance of up-to Rs. 4 million together with a free HNB credit card.
Internationally respected as one of Sri Lanka’s most innovative banking industry players, HNB was recently awarded ‘Best Retail Bank in Sri Lanka’ for the ninth year in 2017 at the Asian Banker Awards 2017, ‘Best Bank for SME’ at the Asiamoney awards and currently stands as Sri Lanka’s strongest performing private sector bank and is currently ranked among the Top 1,000 banks in the world by Banker Magazine.
Ideal Motors (Pvt.) Ltd is the local promoter of Mahindra vehicles in Sri Lanka, a well-established and rapidly growing Indian brand that is internationally renowned for its high-performance Jeeps and SUVs. All Mahindra vehicles are now offered at a special discounted price for HNB Leasing customers, along with free registration for all Mahindra vehicles and free insurance for selected vehicles.
All Mahindra vehicles are backed by a comprehensive two-year after sales warranty or up to 75,000 km, whilst the exceptional service of Ideal Motors (Pvt.) Ltd will provide customers the peace of mind they require along with technical assistance and parts support second to none.
Photo caption: (From left) A.H.M. Aziz – Manager – Business Development, HNB; Nalin Dissanayake – Senior Manager – Leasing, HNB; Viraj Mendis – Head of Personal Financial Services, HNB; Malaka Wehella – General Manager (Trucks & Buses) Ideal Motors (Pvt) Ltd; Rakitha Wimalasekara – Head of Sales & Marketing – Ideal Motors (Pvt) Ltd and Kushantha Gunawardena, Marketing Manager – Ideal Motors(Pvt) Ltd
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Together for Peace: One Youth One Nation
‘One Youth, One Nation phase 2’ is a Youth Peace Campaign organized by the International Youth Alliance for Peace (IYAP)for the 2nd consecutive year .The Sri Lankan youth is still negligent of the International Peace Day. Not only are they unaware of the exact date, they are also ignorant of its significance. This became the reason behind the initiation of the campaign ‘One Youth, One Nation’.
The campaign was centered around acknowledging and celebrating the peace day as well as creating a stage for open communication, sharing stories and networking amongst the youth. Established in 1981 unanimously under the United Nations Resolution 36/37, the ‘International Day of Peace’ (Peace Day) is observed worldwide every 21st of September. According to the declaration of the UN general Assembly this day is devoted to “commemorating and strengthening the ideals of peace both within and among all nations and peoples.” (UN). The theme for 2017 is “Together for Peace: Respect, Safety and Dignity for All.”
The One Youth, One Nation Campaign phase 2 in Sri Lanka was initiated in order to share the goals and to educate the youth on how to strengthen the ideals of peace within and in the community. IYAP conducted a nationwide massive cluster of workshops on the same day. These amounted to a total of over 60 workshops across 18 districts of Sri Lanka.
“The Sri Lankan Youth are the backbone for inspiration of the community”, says IYAP. Which is why IYAP took measures to create awareness among the young, of the importance of Peace and the relationship between youth and peace. This also included of how they can contribute to build peace in the community. To drive these facts home and as encouragement to share their own stories of peace, testimonies from a diverse group of speakers were shared in these workshops.
Beginning these valuable two hour sessions with an energizing game on peace, in addition to the above the objectives covered and the topics discussed included the following areas as well. Promoting intellectual dialog and mutual understanding. Enhancing their imagination and thinking power to come up with innovative peace building processes. Promoting peaceful co-existence. Providing development opportunities to empower the younger generation to create positive change. Teaching the young ones how to develop the community by building peace, protecting human rights, empowering youth, etc.
Rolling out this massive campaign and bringing together the youth of the country to become One Youth, One Nation was no mere feat. This is why IYAP reached out and built a collective of partners, some of which are voluntary organizations working with youth. The organizations who partnered with IYAP in this enormous effort of bringing One Youth, One Nation to life are Jaffna Social Action Centre (Jaffna)Family Well-being Centre(Anuradhapura),Tamil National Youth Club, All University Students’ Development Association, Presidents’ Scout Guild (Vavuniya),Rotaract Clubs of Vavuniya, Chullipuram, Chunnakam,ACBT and EDULINK,Enable Lanka Foundation,Uravugal Sangam(badulla), Warriors Youth Club (Puttalam), Chankanai Youth Federation, Sarvodaya,Saraswathy Community Center(Jaffna) and Mannar Institute of Development, Pokkisham(trincomalee), and international parts Active Citizens-British Council Sri Lanka, World Merit Colombo , and CYPAN Sri Lanka. And International Schools such as Ever Green International School(Gelioya) & Alethea International School(Colombo).
At the end of productive two hours, not only did the participants manage to define peace according to their own beliefs, but also opened up a dialog on the depth of the concept of peace. This proved that the IYAP and the collective of organizations were headed in the right direction. This self-education process led the youth to identify the concept of peace to be ‘Positive Change’. The open discussion also included conversations on how can they help build peace and if they are ‘Agents of Positive Change’.
In their own words, given below are a few testimonials on the workshops from the participants, officials and partners.
“Our, ‘One Youth One Nation’ campaign represents young people from diverse socio-economic contexts across the country. While making an effort to understand their values, ideas and beliefs. this campaign helped us unite the younger generation across various communities in order to advocate peace through various measures. We at IYAP, strongly believe that such an effort would undoubtedly empower the young and create an understanding of the society they live in.” – Thirukumar Premakumar – Founder President of the International Youth Alliance for Peace.
It was a courageous attempt to instill the message of peace and unity within the future of Sri Lanka- Facilitator, Darshatha Gamage.
“The initiative by IYAP through their program of peace building is a small step in getting all of the youth involved for something far more larger than what meets the eye.”Rtr Afraa Mohamed, RAC ACBT
With such a positive outcome for the 21st September efforts, all IYAP has left is to move forward, because this is just the beginning of One Youth, One Nation. In order to bring about ‘Positive Change’, groom ‘Agents of Positive Change’ and become One Youth, One Nation, IYAP along with their collective of partners has a long way to go.
Until then IYAP leaves us with the message:
Peace is to have inner peace as well as peace among the people and the Youth is the foundation of a Nation. Let’s come together to become One Youth, One Nation for the prosperity of Lanka Matha.
To Learn more about us visit www.iyapsl.org or Like us on www.facebook.com/iyap.org
Photo caption: (Above) Student at Ever green international school
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Student at Gelioya (left) and Workshop at Ratnapura
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Spirit of innovation helps HNB to win two awards at the NBQSA Awards 2017
Sri Lanka’s most digitally innovative bank, HNB PLC, extended its remarkable winning legacy in 2017, receiving two awards at the recently concluded 19th annual National Best Quality Software Awards 2017 (NBQSA) 2017.
Serving as a nation-wide platform for showcasing of Sri Lanka’s most pioneering ICT products, the NBQSA Awards is organized by the British Computer Society (BCS), the awards with the goal of recognizing outstanding contributions to the development of ICT in Sri Lanka while simultaneously opening a path for such products to enter international markets.
During the lavish ceremony hosted at the Taj Samudra, Colombo, the bank’s breakthrough HNB Smart Pay card won the Bronze Award for Inclusion and Community while also taking the Merit Award for Research and Development in recognition of the bank’s groundbreaking new mobile application, HNB FIT.
“HNB takes great pride in our recent performance at the NBQSA Awards 2017. Moving forward we anticipate an even stronger performance at these awards as HNB continues to innovate and pioneer new methods of enhancing the overall customer experience, and delivering an unprecedented new level of service and convenience leveraging new technological breakthroughs that will serve to elevate Sri Lanka’s position in Asia and across the globe,” HNB Head of Electronic Delivery Channels, Mangala Wickramasinghe stated.
HNB Smart Pay is a breakthrough near-field communication (NFC) proprietary debit card that is designed by the bank to completely streamline payments and attendance recording for schools. Equipped with a RFID chip which can record details of each student, the card can only be used for transactions at authorized vendors, providing parents with improved visibility and control over their children’s spending habits, while providing a new generation with their first personal experience of cashless payments.
In addition to the recognition it has received so far at the NBQSA Awards 2017, HNB Smart Pay has also been nominated for the Asia Pacific ICT Awards 2017(APICTA).
Similarly, HNB FIT is a savings product that is being designed to pair with wearable fitness devices in order to provide customers with increased savings interest that is tied to the number of steps they ‘walk’ each day, as part of a pioneering initiative from HNB to support and incentivize their customers to stay fit and healthy, while saving more each day.
Photo caption: (Above) Eranga Wickramasinghe – Team Leader, System Engineering of Sri Lanka & Maldives, handing over the award to Mangala Wickramasinghe – Head of Electronic Delivery Channels of HNB. Lakmal Embuldeniya, Executive Committee Member of BCS Sri Lanka Section, Jayantha De Silva, Third Chairman BCS The Chartered Institute for IT Sri Lanka Section, Gerald Vethanayagam – Cisco Country Manager for Sri Lanka and Maldives and Duminda Karunaratne Executive, Digital Strategy & Solutioning of HNB also in the picture
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Wasantha Perera – CEO CryptoGen, handing over the award to Prasanna Priyadarshana – Assistant Manager Digital Technology of HNB. Sudath Amarasinghe – President FITIS Hardware Chapter, Abbas Kamrudeen – Vice Chairman FITIS, Lionel Jayasinghe -Executive Committee member of BCS Sri Lanka Section and Lasitha Ranaweera. Assistant Manager Digital Technology of HNB also in the picture
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Watawala Tea Ceylon’s Ran Kahata to the fore at Effies 2016 with a prestigious Gold
Watawala Tea Ceylon Limited (WTCL), the consumer arm of Sunshine Holdings saw Ran Kahata, Sri Lanka’s most economical quality tea brand, come up tops to win Gold at the recently concluded International Effie Awards 2017, held at Water’s Edge Battaramulla.
Ran Kahata bagged the prestigious metal, beating several leading brands in the ‘David vs. Goliath’ category at 2016 Effies, conducted by Sri Lanka Institute of Marketing (SLIM). The winning campaign titled ‘One Spoon, Two Cups’ (Eka Hendai Koppa Dekai) was deemed effective by the jury panel whose selection criteria was accountable and effective advertising. The campaign was conceptualized and developed by WTCL’s advertising agency partner Trumps Solutions.
Expressing his comments about their latest win, Group Managing Director of Sunshine Holdings, Vish Govindasamy stated: “I am thrilled to hear about Ran Kahata’s huge achievement at the 2016 Effie Awards and would like to congratulate the entire Ran Kahata team on this remarkable achievement. This recognition is a testament of the campaign’s effectiveness and creativity in communicating Ran Kahata’s core message – best value-for-money tea pack in the market – to all Sri Lankans. ‘One Spoon Two Cups’ campaign has been able to engage a number of consumers across the country and the way it was brought to life helped Ran Kahata become a a popular household name.”
The judging process of the Effie Awards is considered to be very stringent as judges are asked to evaluate specific criteria in scoring each marketing case’s overall effectiveness, and provide four separate scores analyzing specific attributes of the work. The four criteria are strategic communications, challenge and objectives, bringing the idea to life (includes the creative and media strategies and the work itself) and results. The Effie juries are comprised of senior industry leaders, who evaluate the entries on all aspects of each campaign’s effectiveness.
Bandara Karunarathna, Brand Manager of Ran Kahata said, “Effies are known to be one of the most renowned global accolades for effective marketing communication and best brand development efforts across the industry. Through this strategic campaign, we have been able to positively engage with our beloved customers and strengthen Ran Kahata’s presence in the country as the brand which gives the best value for its money for Sri Lankans.”
Winning a globally recognized award is not just a result of a few people’s efforts; it is the result of clear direction, excellent adaptation and implementation and commitment of all related parties. We would like to take this opportunity to express our gratitude for the tremendous contribution of our beloved consumers in bringing this award to our home. 2017 is the year which Sunshine Holdings celebrates its 50th anniversary and we feel proud to win this award, as it was the first Effie to be won in the history of Watawala Tea Ceylon” stated Farman Nizar, General Manager – Marketing.
Known as one of the prestigious awards shows in the marketing and advertising industry among agencies and advertisers, The Effie Awards recognize any and all forms of marketing communication that contribute towards the success of a brand. Launched by the Sri Lanka Institute of Marketing (SLIM) in 2008 in collaboration with the Global Effies, the Effie awards has transformed the local advertising fraternity into a creative force in the region, empowering them to effectively communicate the core values and deliver invaluable results for a particular brand.
Watawala Tea Ceylon Ltd. is the largest branded tea company in Sri Lanka. It has the highest market share in the tea category with three brands: ‘Zesta’, ‘Watawala Tea’ and ‘Ran Kahata’ catering to three distinct market segments. Having built a strong foundation locally, the company has embarked on an expansion programme to capture selected international markets by launching ‘Zesta Connoisseur’, an extension of Zesta to cater to premium international customers. The company is the exclusive tea supplier to Shangri-La chain of hotels, servicing 100 luxury hotels spread across 22 countries. Watawala Tea Ceylon is a joint venture between Sunshine Holdings, Tata Global Beverages and Pyramid Wilmar (Pvt) Ltd.
Photo caption: Jubilant WTCL Team at the Effies 2016
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Amazon CEO Jeff Bezos Is The Richest Person In The World – Again
Forbes – Amazon CEO Jeff Bezos is now the richest person in the world for the second time.
On Friday morning, Amazon stock opened up more than 8% higher than Thursday’s close, adding nearly $7 billion to Bezos’ net worth. But thanks to a 7% spike in Microsoft’s stock overnight, it wasn’t quite enough to put him ahead of Microsoft cofounder Bill Gates on Forbes’ Real-Time Billionaire Rankings. Bezos had a net worth of $89.7 billion, as of the start of trading on Friday, while Gates had a net worth of $90.1 billion, up $550 million from yesterday. Then by 10:15 a.m. Eastern, Amazon stock had climbed nearly 2% since the market opened, adding $900 million to Bezos’ net worth and putting him in the No. 1 spot with a net worth of $90.6 billion versus Gates’ $90.1 billion at that time.
Amazon stock surged in after-hours trading on Thursday after the company reported strong third quarter earnings. Amazon reported $43.7 billion in revenue, well above the $42.1 billion analysts expected. Whole Foods, which Amazon acquired in August, made up $1.3 billion of total revenue for the quarter.
Bezos became the richest person in the world for the first time three months ago as Amazon stock hit an all-time high on July 27, just before Amazon reported its second quarter earnings. But Bezos’ first time at the top of Forbes’ Real-Time Billionaires List only lasted a few hours. That same day, Amazon reported a big miss on earnings in its second quarter, leading to a drop in the e-commerce giant’s stock. Only today has Amazon stock returned close to its previous high, as the stock market responded positively to Amazon’s third quarter results.
When Forbes published The FORBES 400 list of richest Americans earlier in October, Bezos was the second richest person in America, worth $7.5 billion less than Gates. Bezos first joined the Forbes 400 in 1998, one year after Amazon went public, with a net worth of $1.6 billion.
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Sri Lankan shares end lower, retreat from near 3-mth high
Reuters – Sri Lankan shares fell in thin trade on Friday, as the market took a breather after hitting a near three-month high in the previous session, with foreign investors net selling equities ahead of the national budget.
The Colombo stock index closed 0.3 percent lower at 6,612.91, slipping from its highest close since July 31 hit on Thursday.
Large cap Ceylon Cold Stores fell 4.8 percent, while the biggest listed lender Commercial Bank of Ceylon Plc eased 1.2 percent.
“Market took a healthy break, which is important for consolidation. There was more local participation,” said Hussain Gani, deputy CEO at Softlogic Stockbrokers.
“We still are positive on the stock market because the interest rates are gradually coming down.”
Foreign investors net sold shares worth 61.2 million rupees ($398,697) on Friday, but they have net bought 19.67 billion worth equities so far this year.
Analysts said the market was looking for direction from corporate results for the September quarter and the 2018 budget, which Finance Minister Mangala Samaraweera will present on Nov. 9.
Turnover stood at 352 million rupees ($2.29 million), less than half this year’s daily average of 936.3 million rupees.
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Oman Air Unleashes Amazing Global Sale to celebrate Oman’s 47th National Day
Oman Air is delighted to announce a Grand Global Sale to coincide with and to celebrate the 47thNational Day of the Sultanate of Oman. The Grand Global Sale offers discounts upto 47% in both Premium and Economy cabins applicable for the entire Oman Air network. The sale is valid from 30th October till 6th November 2017 with travel permitted till 31st May 2018. This fantastic Global Sale is the ideal way to celebrate 47thNational Day of the Sultanate of Oman by rewarding customers for their loyalty to the airline. Travellers can rush to avail of the Global Sale by calling Oman Air on 011-2168268, visiting www.omanair.com or calling Oman Air appointed travel agents.
Commenting on the Global Sale, Mr. Gihan Karunaratne, Country Manager of Oman Air, said, “Oman Air is proud to celebrate the 47thNational Day of the Sultanate of Oman with the generous gesture of extending a Global Sale promotion to valued customers to share the joy and pride we feel as the national airline of Oman. We believe this is a fitting demonstration of how much we value our patrons. Customers can take full advantage of the promotion on flights to a wide selection of international destinations. The Global Sale is an offer not to be missed as it offers handsome savings and a chance to experience our signature hospitality aboard Oman Air!”
Oman Air has been steadily carving out significant share in Sri Lanka’s aviation industry and has built a strong customer base and brand presence in the local market. Sri Lanka is an important destination in Oman Air’s route network in the region and over the last few years the airline has increased flights between Colombo and Muscat. Oman Air now operates double flights daily between Colombo and Muscat. The airline currently offers flights from Colombo to a variety of destinations around the world and also many countries in the Gulf region.
Another example of Oman Air’s commitment to its loyal customers is its loyalty programme, Sindbad. The membership programme earns flyers Sindbad miles both in the air and on the ground. Customers who fly with Oman Air or its partner airlines or indeed transact with any of its global partners earn Sindbad miles, which can be used for free flights, flight upgrades, exciting raffles and promotions.
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Special project to improve quality of beauty culture sector
As a part of the Prime Minister Ranil Wickremesinghe’s concept of uplifting the Small and Medium Enterprises (SMEs), a special project has been initiated with the objective of improving quality of the beauty culture sector, Hairdressers and Beauticians around the country, the Policy Development Office said.
The project named as “SED Salon” is being implemented through the Small Enterprises Development Division of the Ministry of National Policies and Economic Affairs. This Small Enterprises Development Division was formed in 1980s by the present Prime Minister while he was Minister of Youth Affairs and Employment with the objective of uplifting the SMEs with assistance of the International Labor Organization. The project is included programs to promote customer attitudes, customer care, marketing and management skills etc. The main objective of this is to transform the beauty culture sector into a field of providing quality services to all.
A total of 4,328 applications have already been received for this program. The Sri Lanka Standard Institute has launched a series of awareness campaign in July in order to maintain the standards of salons, and has already been implemented in all districts, with a large number of participants from Kalutara, Kegalle, Gampaha and Kurunegala districts.
Furthermore, action is being taken to provide an internationally recognized National Training Certificate (NVQ) for Beauticians and Hairdressers to provide an international recognition to their profession. The information and registration details of the project can be obtained from the Small Enterprises Development Division at each District Secretariat.
As another step of the project, it is expected to introduce a code of ethics for the beauty culture sector and to award the Merit Award for skillful beauticians annually. The first award program will be held in November 2017.
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First Sri Lankan Food Festival in Warsaw, Poland
The Embassy of Sri Lanka in Warsaw, Poland, in collaboration with the Warsaw Hilton, the Colombo Hilton, the Sri Lanka Tourism Promotion Bureau, and Qatar Airways organized a Sri Lankan food festival at the MEZA Restaurant of the Warsaw Hilton Hotel and Convention Center recently.
Two professional Sri Lankan chefs from the Colombo Hilton traveled to Warsaw to prepare authentic Sri Lankan cuisine for the festival, providing an opportunity for the food lovers to taste foods such as hoppers, kottu roti, curries, coconut sambol and watalappan.
The colourful cultural program began with traditional dances led by the members of the Pradeep Shastra Performing Art of Sri Lanka in Italy who performed splendidly to the melody of Sri Lankan drums and traditional music.
The festival commenced with a press luncheon at the MEZA Restaurant. Many guests were in attendance, including leading Polish press and VIPs. The luncheon officially opened the festival to the public and publicized Sri Lanka’s food festival in Poland. The unique culinary evening was hosted by the Embassy of Sri Lanka. Over 100 guests were in attendance, including Polish Government officials, entrepreneurs, travel leaders and travel journalists.
In organizing these events, the Embassy of Sri Lanka promoted Sri Lankan food and culture in a bid to strengthen bilateral relations between Sri Lanka and Poland, and presented Sri Lanka as a key tourist destination. In 2016, Polish tourist arrivals had increased by approximately 20% as compared to the previous year due to tourism promotional initiatives of this nature. A significant increase in the number of Polish tourists coming to Sri Lanka is expected in 2017.
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SLEA Annual Sessions 2017 held
Prime Minister Ranil Wickremesinghe participated at the Annual Sessions 2017 of Sri Lanka Economic Association held on Friday (27th Oct.) at Centre for Banking Studies (CBS) in Rajagiriya.
Minister of Special Assignments Sarath Amunugama, Deputy Minister of National Policies and Economic Affairs Harsha De Silva, Governor of CBSL Indrajit Coomaraswamy, and Vice President of ADB Bambang Susantono also participated on this occasion.
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