Adaderana Biz English | Sri Lanka Business News

LankaPropertyWeb.com, Sri Lanka’s number one property website has introduced an Agent Verification programme for estate agents and brokers. The programme would carry out a rigorous check on participating estate agents and brokers against 20 criteria. If the agent successfully “passes” the test, they would be awarded a “Verified Agent” certificate and would be listed as Verified Agents on the website valid for one year. The programme was launched so that genuine companies and individuals in the real estate trade are given a platform to validate their credentials and trustworthiness to the potential customers that they will be dealing with. As there is no official certification process for agents and brokers in Sri Lanka, Lanka Property Web hopes that this service will help agents showcase their trustworthiness and reputation to the public. The verification process, which involves 20 checks, will be carried out by Lanka Property Web. These include checking the ownership of the business, verifying the address and contact details of the business establishment, and the feedback it has received from customers about the agent. This process is on par with similar verification programmes carried out in other parts of the world. The first such agent to pass the verification process was Menavid (Pvt) Ltd and their certificate was handed over by the Managing Director of Lanka Property Web at a recently held function. Speaking at the event, Daham Gunaratna, Managing Director of Lanka Property Web stated that Menavid has been in the real estate industry since 1980 and has built a good reputation and trust for itself throughout the years and it was fitting that they were the first recipients of the certification. Stressing the importance of such a programme, he further stated that Lanka Property Web stepped into offer this certification in response to the lack of an official certification for agents in the country and that securing such a certification would help agents to highlight their reputation and trust to the public. Commenting further on the new programme, Gunaratna stated that, “This would be another value-added service that we provide to property buyers, sellers, landlords and tenants to make it easier for them to find genuine and trustworthy agents to handle their property needs. Agents who take part in this programme will need to meet our stringent qualifying criteria to receive our certification, allowing us to acutely assess their eligibility of having them on-board as a verified property agent. This will in turn offer a multitude of benefits for property seekers, as they will be able to easily find genuine agents to handle their property needs and be assured of peace of mind and better purchasing decisions as a result” It was also mentioned that several other agents are currently participating in the verification process. One of the key points raised by developers during a panel discussion at the Lanka Property Show 2017 was bringing in regulation for agents and developers alike. Discussions have also been held with agents in this regard on assisting them form an association with the capacity to self-regulate its members and which could be the voice for the industry. Managing Director of Menavid (Pvt) Ltd Rimza Zaveer said “ Lanka Property Web’s recent verification process has helped us to be recognised as a dependable and trustworthy Agent in Sri Lanka and will help the public to determine whether they are dealing with reliable Agents” Established in 2007, LankaPropertyWeb.com is currently Sri Lanka’s most visited property website with over 20,000 ads and has over 300 professional agents listing their properties on the site. MENAVID Real Estate was established in June 1980 and successfully entered the real estate market by focusing on clearly defined market segments; investment properties, office space, renting houses and apartments as residence, renting large spacious houses and Up Market Business Premises/Buildings as Office space, selling and re-selling apartments, houses and lands. Photo Caption – (L) to (R) – Naveed Zaveer – Director of Menavid, Rimza Zaveer – Managing Director of Menavid, Daham Gunaratna – Managing Director of Lanka Property Web, Jayakumar Janan – Assistant Business Development Manager of Lanka Property Web

Sri Lanka has called for stronger maritime and air links with Bangladesh to boost booming bilateral trade as well as FDIs. Meanwhile, trade between both countries has shown a steady surge not only in the last five years but even on YoY basis in 2017. “Ports of Colombo and Hambantota are vital for Sri Lanka’s economy and the Port of Chittagong is of great importance to the economy of Bangladesh. Strong linkages and connectivity between the Ports of Chittagong, Colombo and Hambantota would facilitate shipping, tourism and investments between the two countries. In addition, more frequent direct air links between Colombo and Dhaka too shall strengthen economic cooperation, investment promotion, tourism and people-to-people contacts. Expansion of air-links would bring more opportunities to entrepreneurs and investors of the two countries too” said the Minister of Industry and Commerce Rishad Bathiudeen. Minister Bathiudeen was addressing the celebration eve of 47th anniversary of the Independence and National Day of Bangladesh in Colombo on 26 March joined by (HE) High Commissioner of People’s Republic of Bangladesh to Sri Lanka Riaz Hamidullah, and many other distinguished invitees. Highlighting Sri Lanka- Bangladesh trade growth, Minister Bathiudeen added: “In the past few years bilateral cooperation between Sri Lanka and Bangladesh has been strengthened by friendly visits of high level official delegations. And such efforts have grown and expanded to encompass defence, education, sports, culture, investment and trade. For example, Sri Lanka’s bilateral trade with Bangladesh has been on a growing trend. In the five year period of 2013 to 2017, total trade increased by 55% to US $ 166 million.Even last year’s Lanka-Bangladesh total trade has increased by 17% to US $ 166 million in comparison to 2016’s $142 million.” In 2017, Apparels, plastics, and petroleum products were Sri Lanka’s leading exports to Bangladesh which totalled $ 122.39 Mn while imports totalled $44 Mn (pharmaceuticals, machinery parts, potatoes, jute yarn, non-alloy steel, electric accumulators, and food preparations were the main imports). Lankan exports to B’desh increased by 9% to $122 Mn in 2017 compared to 2016’s $112 Mn while imports from B’desh increased to $39 Mn last year from 2016’s $29 Mn. Over the five year period from 2013 to 2017 Lankan exports to B’desh increased by 48% while imports to Colombo in the corresponding period increased by 56%. Bangladesh is Sri Lanka’s 19th exports destination while from Bangladeshi side, Sri Lanka is their 53rd exports destination. “As neighbouring members of the Bay of Bengal region, both countries have many commonalities. Our common cultural affinities and historical links have immensely nourished our modern day inter-state relations” added Minister Bathiudeen. Among the multilateral and regional fora where Sri Lanka and Bangladesh have been cooperating with each other are the UN, SAARC, BIMSTEC, and the Indian Ocean Rim Association (IORA). PHOTO – Minister of Industry and Commerce Rishad Bathiudeen addresses the 47th anniversary of the “Independence and National Day of Bangladesh“ celebration event in Colombo on 26 March joined by (HE) High Commissioner of People’s Republic of Bangladesh to Sri Lanka Riaz Hamidullah (at right),

Reuters – Sri Lankan shares fell on Tuesday to their lowest close in nine weeks as negative sentiment over the island nation’s slower economic growth continued to weigh on the market. However, foreign investors bought a net 477.1 million rupees ($3.06 million) worth of shares, extending the year-to-date net foreign inflow to 7.4 billion rupees worth of equities. The Colombo stock index closed 0.13 percent weaker at 6,440.43, at its lowest close since Jan. 23. The bourse fell 1 percent last week, its fourth straight weekly drop. Sri Lanka’s economy grew by 3.1 percent in 2017, the slowest pace in 16 years and well below the 4.5 percent seen in 2016, revised government data released last week showed. “Most investors are on the sidelines waiting for the central bank’s interest rate decision in April,” said Reshan Kurukulasuriya, chief operating officer, Richard Pieris Securities (Pvt) Ltd. “But we can see some block trades taking place while foreign investors are also collecting.” Turnover was 865.9 million rupees ($5.55 million), less than this year’s daily average of around 955 million rupees. Shares in Ceylon Cold Stores Plc fell 3.9 percent, while conglomerate John Keells Holdings Plc ended 0.4 percent weaker and Lanka ORIX Leasing Company Plc ended 0.8 percent down. Analysts said an increase in retail fuel prices also weighed on investor sentiment. Sri Lankan fuel retailer Lanka IOC Plc, which fell 1.6 percent in the session, raised retail prices for gasoline and diesel over the weekend due to losses incurred after the government’s failure to implement a pricing formula.

February 28. 2018: Sri Lanka’s most innovative healthcare partner Nawaloka Hospital recently debuted the country’s first ever Kiosk that prints diagnostic reports and provides information on the different healthcare packages that the hospital offers based on age, sex and other vital info. The state-of-the-art Kiosk stationed at the Specialist Centre eliminates the hassle of having to stand in queues physically and collecting diagnostic reports at a particular time which has hitherto been the practice. With the new system in place, the patient only has to scan the QR code that they are given at the point of paying for the report and the corresponding report will be printed for them within a matter of seconds. The new Kiosk not only saves time but also serves as a fool-proof system that provides 100% confidentiality especially in the case of VIP patients as only persons with the QR code can access reports, medical history and vital information of the patient. Head of IT at Nawaloka Hospital Indika Balasuriya commenting about the new feature said that the machine has been received well by clients and within just six days of installing a total of about 650 reports have been printed so far. “Nawaloka Hospital is constantly investing in technology with the vision of becoming the most innovative player in the healthcare sphere in Sri Lanka. We aim to offer a convenient experience for everybody. “Other than diagnostic reports, patients can also obtain information about different screening and healthcare packages offered by the hospital simply by keying in their age, gender and other vital information. The machine will then process the data and print details of all healthcare packages available and their respective rates,” he added. According to Balasuriya, the software used in the Kiosk has been developed by two developers of the hospital’s IT department. Nawaloka entered the state dominated healthcare sector in 1985 and was set up to mirror reputed hospitals in the region which offered advanced medical technology and expert medical care. With its entry the private healthcare system took root in Sri Lanka and people were provided with an alternative to seeking specialized treatment outside the country. The Hospital was a pioneering initiative that built an impeccable reputation and has been at the forefront of the Sri Lankan healthcare sector for over three decades.

Pioneer digital communications agency Shift, kick started their tenth anniversary celebrations by sending a team of young professionals to AdFest, Asia’s most celebrated advertising festival held in Pattaya, Thailand. Staying true to their DNA of enlisting and empowering a fair share of young talent, ten young professionals representing multiple disciplines were given yet another opportunity to challenge, inspire and expand boundaries of creativity. “We believe the journey of building stronger brands always starts with the people who champion them. And as an agency we strive to secure professionals with talent and passion, by equipping them further with the right training,” says Chrishani Kotalawela, Managing Director, Shift. Before taking on the reins as the MD of Shift group, Chrishy, better known in the industry as the ‘force multiplier’ COO at Leo Burnett, has an industry reputation as a perfectionist who perseveres for the highest quality and standards in advertising. Her insight into brands spans verticals from finance to retail, having worked on some of country’s largest and most loved brands. “Shift is an integrated agency group built to leverage intelligence, innovation and creativity to drive results for brands we’re entrusted with. And our aim is to build lasting connections between brands and people that are mutually beneficial. To this effect we do not stick to one formula, but look at each brand challenge in its own merit to custom tailor a solution. And our way of integration across disciplines help us craft sharper solutions to our client brand challenges,” Chrishy added about the agency’s approach to brand building. Commenting on agency training, Founder and CEO Sujeewa Samarasekara said: “Nurturing and growing young talent is something we do with passion and pride. We believe in building advertising professionals who will add value not only to Shift but also to the industry at large. The aim is to create change-agents, catalysts. The agency introduced an internal training program dubbed #shiftinggears that serves as a knowledge sharing platform on topics that directly and indirectly connects to the agency’s core business. We have had speakers from NASA to yoga and meditation sharing their knowledge with our team.” Commenting on Shift’s ten-year journey he further added: “Ten years ago, we set up the first dedicated digital agency and made our mark with many firsts for Sri Lanka. Working with some of the best brands and even better client teams it was a gentle and organic expansion into becoming a full service brand agency. Today we serve top brands in the market, local and global, all the way from strategic planning to creative, digital, media and events and activations. As our business is sharply focused around people, we strive to add value to each person we come across. Starting from our own team to our clients’ teams, partners and Sri Lankans at large. In view of our tenth anniversary, all our activities will revolve around singular purpose of #shiftinglives where we plan to make a positive change beyond our business eco system.” Advertising agencies have been long known for its vibrancy in company culture that serves as an incubator for innovation and great creativity. Shift celebrates and builds on it with a youthful exuberance that transcends grounded experience of the senior team and explosive dynamism of the young. Shift group is completed with Shift Integrated, Shift Digital and Third Shift; managing strategically led – creatively trumped integrated communications, total digital solutions and strategic media planning and buying respectively. The group counts over 50 professionals working to better the brand communications landscape in Sri Lanka. Chrishy could be reached on chrishy.k@shift.lk for any further information.

The Carbon Foot Print project launched under the “Go Green” concept by Noritake Lanka Porcelain (Pvt) Ltd was awarded the CSR/ Sustainability Silver Award at the recently concluded JASTECA Awards 2017. “We are grateful for the recognition given to our continued efforts to aid the sustainable development of our country as it will have a long lasting benefit towards the people and society in general,” said Deputy Chairman and Managing Director of Noritake Lanka Porcelain (Pvt) Ltd (NLPL) Yoshinari Shimaya. “The award further proves to our ever-growing customer base in every part of the world that NLPL is an establishment which has a primary responsibility towards the overall sustenance of humanity and this aspect is addressed through our CSR venture,” he said. In a bid to encourage public and private sector business entities to adopt and inculcate Corporate Social Responsibility (CSR) as a part of their business policy, the Japan Sri Lanka Technical and Cultural Association (JASTECA) organised a competition titled ‘JASTECA CSR Awards’ to recognise and reward them for their efforts and commitment. This innovative initiative is conducted annually in memory of the Founder President of JASTECA, Mr. Ian Dias Abeysinghe. The objective in organising this event is to contribute significantly towards society, the economy and the natural environment by encouraging organisations to conduct CSR activities. NLPL, as a symbol of one of Sri Lanka’s leading corporate entities, places high value on conducting business in an ethical manner with the added obligation of launching initiatives that ensure the well-being of its employees, their families, the local community and the society. Since the subject of climate change and global warming have become a major issue in global business and with porcelain ware manufacturing coming under strict supervision for being one of the main contributors to CO2 emissions, NLPL implemented the “Carbon Foot Print” which is the most viable mechanism to sustain in the global business. The reduction of CO₂ by 5% annually with radical changes in the technologies and actual product concept, as well as in the available energy sources and 0.50% of CO₂ fixation in year 2026 by growing native trees in the Knuckles mountain range, turns out to be the most environment innovative activity of NLPL. This project widely stretches other benefits such as protection for clear and perennial waterways, clouds and exquisite fauna and flora in Knuckles mountain range, as it is a climatic microcosm of the rest of Sri Lanka. Since its establishment in 1972 as a joint venture between the Ceylon Ceramic Corporation and the century old Noritake Co. Ltd of Japan, NLPL has achieved iconic status as a pioneer porcelain tableware manufacturing company in Sri Lanka. NLPL is globally recognised for its superior brand in more than one hundred countries across the world in addition to its dominance in the local market as the porcelain ware supplier to all the leading hotels in the island. With the production facility situated in the mineral rich city of Matale, it obtains the best materials to produce over 6 million pieces of porcelain ware to global destinations and the local showrooms situated in Colombo 07, Taj Samudra Hotel, Pepiliyana, Wattala and Matale. Photo caption: Officials from Noritake Lanka Porcelain (Pvt) Ltd with the Award

~ Invites Applications for 2018 Batch of ‘Sampath Saviya’ Programme Staying true to its legacy of standing by the nation’s entrepreneurs for over 30 years, Sampath Bank announced the launch of its renowned ‘Sampath Saviya’ entrepreneurship development programme for the year 2018. The ‘Sampath Saviya’ initiative is at the core of Sampath Bank’s Corporate Social Responsibility (CSR) efforts. Offering technical support and financial assistance, the programme has nurtured over 2,000 Micro, Small and Medium Scale Enterprises (MSMEs), including exporters, since its launch in 2013. Sampath Bank has also conducted several projects in partnership with the CEFENET Sri Lanka, Export Development Board, Regional Chambers and Divisional Secretariats under this initiative. The Bank has called for applications from startups and budding micro, small and medium entrepreneurs for the next batch of the ‘Sampath Saviya’ programme. In a bid to empower the nation’s youth with the skills and resources to stand on their own feet, Sampath Bank has opened the programme out to Advanced Level (A/L) and Ordinary Level (O/L) students who have discontinued their studies this year. The Bank believes that this will help cut down on their idle time and make them more productive, thereby enabling them to better contribute to national development. To join the program, one simply needs to email his/her name, contact number and a brief description of the business venture to csr_reports@sampath.lk or contact the Bank on 0765 886 650. “At Sampath Bank, we firmly believe that the nation’s micro, small and medium enterprise sector is one of the key drivers of economic development. Hence, right from our inception, we have worked closely with entrepreneurs around the island. Going beyond our business interests, we launched the Sampath Saviya entrepreneurship development programme in 2013 with the vision of enhancing and empowering the capacities of MSMEs for sustainable development of Sri Lanka. Having touched over 2,000 MSMEs through the initiative, to date, we are pleased to invite applications for the next batch of Sampath Saviya,” said Lalith Weragoda, Assistant General Manager – Human Resources, Sampath Bank PLC. Selected applicants will initially take part in workshops to develop their skills on business knowhow, marketing and financial management. Participants will be encouraged to develop and submit their business plans at the end of the workshops. A panel of experts will evaluate these plans and help fine tune them further. Sampath Bank also offers financial assistance to selected participants, based on the merit of their proposals. The Bank continuously monitors the progress of these ventures together with its partners and offers them counselling and additional financial support to ensure that they are on track to achieve their commercial aspirations. Going beyond skill development and financial assistance, Sampath Bank also provides Sampath Saviya entrepreneurs with platforms to showcase their products and services to a wider audience through its “Saviyaka Abhiman” Small and Medium Enterprise Fairs. Funded and organized completely by the Bank, over 70 of these enterprises took part in the latest edition of the expo that was held at the BMICH in November 2017. For further information, contact Sampath Bank on 0765 886 650 or email your queries to csr_reports@sampath.lk Photo caption: A Sampath Saviya workshop in progress

UL passengers can connect to Johannesburg and Mauritius

SriLankan Airlines and Air Seychelles have entered into a Special Prorate Agreement that will enhance their respective route networks and provide greater travel options in a seamless manner to passengers of both airlines with effect from 1st April 2018. Capt. Suren Ratwatte, CEO of SriLankan Airlines, said: “We are indeed happy to embark upon this partnership with Air Seychelles, which we are confident will be a win-win situation for both airlines and most of all to our valued customers. For SriLankan’s passengers, this will allow easy access to three new destinations in South Africa, Mauritius and Madagascar via Seychelles, while customers of Air Seychelles will have enhanced options to connect to India and the Far East on SriLankan flights.” Remco Althuis, CEO of Air Seychelles, said: “We are delighted to begin working together with SriLankan Airlines as our new interline partner. This deal will provide our guests with more travel options to Asia and, on the reverse side, allow travellers flying with SriLankan Airlines to connect onto our Indian Ocean network. Partnerships such as this are essential in widening our reach and providing more value to travellers.” Passengers on SriLankan Airlines (www.srilankan.com) will have expanded options to fly on Air Seychelles to Johannesburg, Mauritius, Madagascar and the domestic destination of Praslin in the Seychelles; Passengers travelling with Air Seychelles (www.airseychelles.com) will be able to purchase through-tickets for SriLankan Airlines flights from Seychelles to Colombo, and onwards to Mumbai, Bangkok, Singapore, Tokyo, Beijing and Hong Kong. SriLankan operates a route network of 105cities in 47countries from its hub in Colombo, with a fleet of modern aircraft with the latest comforts such as flatbeds in Business Class and sophisticated in-flight entertainment, to complement its world class service. As a member of the prestigious oneworld global airline alliance, SriLankan also connects its passengers to over 1,000 cities in 160 countries around the globe through its oneworld partner airlines. SriLankan has in recent times been honoured with a series of global accolades which include a Four Star Rating from the Airline Passenger Experience Association (APEX); ‘World’s Leading Airline to the Indian Ocean’ for two consecutive years at the World Travel Awards; ‘Best Full Service Airline in Central & South Asia’ for three consecutive years at the Future Travel Experience Asia Awards 2017; ‘Leading International Airline’ and ‘Best in Class’ at the South Asian Travel Awards 2017; and ‘Innovation in Commercial Airline Cabins’ at the In-flight Asia Pacific Awards.

Mobitel, Sri Lanka’s National Mobile Service Provider, launched an innovative mobile app to help combat the spread of Dengue among school children in Sri Lanka at a special event held at the BMICH on 27 March 2018. The ‘DengueFreeChild’ app was developed by Mobitel in collaboration with the Ministry of Education, the Ministry of Health, the University of Colombo and Nanyang Technological University in Singapore. The app enables users to proactively report of Dengue or suspected Dengue fever so that action can be taken to the premises around which the infection is prevalent for mosquito breeding areas as well as to alert other parents to keep a keen eye on Dengue-like symptoms in their own children. Around 30 percent of all Dengue patients who sought treatment in 2017 were children, according to the data collected by the National Dengue Control Unit of the Ministry of Health. “Early diagnosis of Dengue can save a child’s life,” says Dr. Hasitha Tissera, National Coordinator of the National Dengue Control Unit. “We have found that early diagnosis of Dengue and immediate treatment almost always leads to a complete recovery. The need for parents and carers to be alert and aware of the possibility of Dengue symptoms in their children cannot be overstated.” Recent statistics revealed that there are nearly 4.4 million students in more than 10,000 schools across Sri Lanka today. As the Dengue mosquito is reported to be active during the morning hours, students are all at greater risk of being infected if mosquito breeding grounds exist in schools and surrounding areas. The app creates awareness and allows sharing of information quickly that enables parents and school authorities to take preventive action to stop the spread of Dengue. Ministry of Education through Health and Nutrition Division is actively contributing to maintain schools free of dengue breeding sites. Therefore, this new app will help them to monitor the situation more closely. The ‘DengueFreeChild’ app has been created with separate user access for government officials and school authorities, in addition to the general public use of sharing and accessing information about Dengue patients. “Dengue has become a critical national health issue, and as the National Mobile Service Provider, we had a responsibility to find ways to combat this disease,” says Isuru Dissanayake – Senior General Manager Marketing, Mobitel. “We are proud to collaborate with the Ministry of Education, the Ministry of Health, the University of Colombo and Nanyang Technological University in Singapore to design and develop this timely and much-needed application. It gives us immense satisfaction to leverage on our specialized mobile technology to enhance the wellbeing of the children of our country.” The ‘DengueFreeChild’ app is now available for free download by Android Users on Google Play Store.

(From left) Mr. Sunil Hettiarachchchi, Secretary – Ministry of Education, Mr. P. G. Kumarasinghe Sirisena, Chairman – Sri Lanka Telecom & Mobitel and Dr. Sarath Amunugama, Deputy Director General, Public Health Services officially launching the ‘DengueFreeChild’ app.

Team Phoenix from the University of Moratuwa were adjudged the winners of the inaugural SLASSCOM 4iR Hackathon at the grand finale of the event that was held at the Kingsbury Colombo recently. Organized by the Sri Lanka Association of Software and Service Companies (SLASCOM) in partnership with Virtusa and Virtusa xLabs, the event sought to encourage innovation and entrepreneurship among Sri Lankans and help startups in the country embrace the 4th Industrial Revolution. Promoting team building and planning, this ‘First in Sri Lanka’ event allowed both university students and industry professionals to ideate, prototype and present solutions to a panel of industry leaders and investors. The winning team comprising four students from the Faculty of Computer Science and Engineering at the UoM, wowed the judges with their invention of a wearable which uses IoT and machine learning technology to track and compile foot pressure data to predict symptoms related to diabetes. They walked away with the grand prize of Rs.500,000. The four runners up – The TeamName (University of Moratuwa), Tekto (Independent), Scorpion (University of Moratuwa), and Hash Beats (University of Moratuwa) – received cash awards of Rs. 100,000 each. 31 teams comprising of a total of 3-5 young digital disruptors each took part in the first round that was held at the Taj Samudra on the 17^th and 18^th of March. The teams developed solutions based on Artificial Intelligence (AI), Blockchain, Machine Learning, Deep Learning, Robotics Process Automation (RPA), Internet of Things (IoT), Augmented / Virtual / Mixed Reality (AR/VR/MR) and Microservices over a 24 hour period. The teams benefitted from the live feedback offered by mentors from SLASSCOM and Virtusa who were on hand. A panel of judges picked 14 projects for the finals based on the teams’ presentations. These finalists then presented their solutions to the final panel of judges from SLASSCOM and Virtusa Senthilkumar Ravindran, Executive Vice President – Global Head of xLabs, Virtusa; Stephen Holmes, Vice President – FinTech Lab, Virtusa; Chandika Mendis, Executive Vice President, Virtusa, Naresha Supramaniam, Senior Vice President – Delivery, Thushera Kawdawatta, Vice President – Technology, Virtusa; Chamindra De Silva, Vice President – Technology, Virtusa, Jagath De Silva, Senior Director – Delivery and Harindu Abeygunawardena – Director, SLASSCOM. Photo caption: (Above) The panel of judges from SLASSCOM and Virtusa

The speakers at the event (From left) Chamindra De Silva, Vice President – Technology at Virtusa; Senthilkumar Ravindran, Executive Vice President and Global Head of xLabs at Virtusa and Stephen Holmes, Vice President – FinTech Lab, Virtusa)

Winning team Phoenix from University of Moratuwa

Team Hash Beats

Team Scorpion

Team Tekto

Sri Lanka’s rubber sector received a major opening from world’s leader in car production on 28 March. Slovakia, world’s leader in car production has called for using Sri Lankan rubber –specially rubber tyres -in its record setting car manufacturing industry. “We want to diversify our rubber intake and to this end want to expand the sourcing from our present African and South East Asian suppliers” stressed the visiting Slovak Finance Minister Peter Kazimir on 28 March. Slovak Minister Kazimir, who accompanied a nine-member official delegation was in discussion with Minister of Industry and Commerce Rishad Bathiudeen during his courtesy call on Minister Bathiudeen in Colombo on 28 March. “As a result of post-Soviet era economic restructuring, Slovakia has become a manufacturing economy. 40% of our industrial exports are automotives. Well established global brands such as KIA, Volkswagen, Jaguar Landrover, Audi, and PSA Peugeot Citroen are now manufacturing in Slovakia at Tier One OEM level” said Slovak Minister Kazimir and added; “More than 400 Slovak SMEs too are part of our supply chain as second tier suppliers. Our automotive manufacturing industry has been rapidly developing and last year we became the world’s leading car producer. As a result, we are now working to diversify our industry supply sources. For example we want to diversify our rubber intake and to this end expanding the sourcing from our present African and South East Asian suppliers. Tyre supplies are crucial for us. We want to expand this sourcing and are now keenly focusing on Sri Lankan rubber sector, especially tyres. We also wish to send our business delegations here and even ready to transfer our technical knowhow to Sri Lankan (automotive) industry if you wish. New supplies from Sri Lanka to Slovakia would also increase low level of our existing bilateral trade.” Bilateral trade between Sri Lanka and Slovakia totalled a mere $ 45 Million in 2017. Sri Lanka’s leading export to Slovakia in 2017 was apparel while machinery was the key import item to Sri Lanka from Slovakia. Last year Slovakia ascended to become the world’s leading car producer by making 191 car-units per 1000 inhabitants. Its annual car output last year also surpassed one million unit mark. Minister Bathiudeen immediately welcomed Slovak Minister Kazimir’s offers. “As the Minister in charge of Lankan Industries, I welcome your interest on our rubber and tyres as well as technology transfer to our automotive sector-no doubt these measures will upgrade our manufacturing and even bilateral cooperation. Global demand for our high quality rubber continues to increase-even last year our rubber exports increased by 18% to $ 39 million from 2016’s $33 Million. Therefore you are in the right location looking for high quality rubber and tyres for your automotive sector. I and my Ministry shall extend our fullest cooperation when your business and investment delegations arrive here and will facilitate sectoral meetings” Minister Bathiudeen responded. Slovak Minister Kazimir also stressed their interest in investing in Sri Lanka and called for a bilateral Investment Protection and Double Tax Avoidance mechanisms between both countries during his meeting with Minister Bathiudeen. Lately, Slovakia began expanding to car production to SUVs having launched production of Porsche Cayenne in 2017. Slovak sources said the new generation of Volkswagen Touareg and Audi Q8 are the other new SUVs lined up for production next. Minister of Industry and Commerce Rishad Bathiudeen meets the visiting Slovak Finance Minister Peter Kazimir on 28 March in Colombo.

The daily turnover at the Colombo Stock Exchange topped the Rs. 13 billion limit this morning (28 March). This was due to a share transaction of Lanka Orix Leasing Company (LOLC). There was a transaction of 142,458,490 shares belonging to Orix Corporation of Japan, which is a prime shareholder of LOLC, at Rs. 90 per share. This is 29.97 per cent of the company’s declared capital. The turnover through this transaction alone was Rs. 12.8 billion (12,821,264,100.00). According to reports, these shares have been acquired by Mr. Ishara C. Nanayakkara, the Deputy Chairman of LOLC and the largest shareholder of the company. He has acquired these shares through LOLC Holdings (Pvt) Limited. Mr. Nanayakkara is the sole Director and shareholder of LOLC Holdings (Pvt) Ltd. With this acquisition, Ishara Nanayakkara’s effective control increases to 78.88 per cent.

The revamped corporate website of the Central Bank of Sri Lanka (CBSL) was launched by Governor Dr. Indrajit Coomaraswamy on 28 March 2018. The URL for the site is https://www.cbsl.gov.lk. The main features of the new website include additional content, more dynamic and interactive features with improved functionality, mobile compatibility and active social media integration. This will provide a better browsing experience for web users such as professionals, the public, media, and students to ensure efficient and speedy accessibility to information with user friendly interfaces. The information Technology Department of CBSL, which won the Public Sector Most Outstanding ICT Achievement Award and the Gold Award for in-house applications category at the National Best Quality ICT Awards competition in years 2014 and 2016 respectively, rendered their professional expertise and skills to develop this website that enables a high quality user experience.

NDB has been named the “Best Bank in Sri Lanka” by the prestigious Global Finance Magazine at the 25th Annual Best Bank Awards in the Asia Pacific. The award is conferred by the editors of Global Finance magazine, based on the growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry. Global Finance Magazine is one of the leading global publications in the banking and finance sector and many banks across the globe vie for their annual best bank awards titles. Commenting on the award, Chief Executive Officer of NDB Mr. Dimantha Seneviratne said, “We are honored to be selected as the ‘Best Bank in Sri Lanka’, given the prestige and worldwide acceptance commanded by Global Finance, USA, one of the most prestigious banking and finance publications in the world. This is the second year that NDB won this title, having won it in 2015. We are proud to have won this again in 2018.” “I dedicate this award to our valued shareholders, customers, shareholders and all stakeholders and the ONE NDB TEAM who have made their respective contributions for the success of the Bank!” the NDB CEO added. Global Finance Best Bank award title is one of the most sought after titles in the Sri Lankan banking industry, with severe competition from top commercial banks. Winning the ‘Best Bank in Sri Lanka’ title affirms that NDB is on an aggressive growth path and is now challenging the bigger players in the industry as a dominant financial powerhouse. It is also testimony for the dedication of the highly capable team at NDB. This is the twenty-fifth year that the magazine has selected top banking performers in emerging markets. The report covers best banks in Latin America, Central & Eastern Europe, Asia-Pacific, the Middle East and Africa. Winners will be honored at an Awards Ceremony held during the IMF/World Bank Annual Meetings in Bali, Indonesia on October 13, 2018. “At a time of unprecedented change in the financial services industry, Global Finance’s annual Best Bank Awards continue to deliver a consistent evaluation of financial industry performance, whether in developing products to meet emerging financing needs or designing digital platforms that speed and enhance services,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance, in a press release, adding “The winners are world-class leaders, responding adeptly to shifting political winds, new technologies and changing market conditions.” NDB’s ascendance to the “Best Bank in Sri Lanka” comes as the backdrop of phenomenal growth in its balance sheet and profitability in 2018 and its strategic focus is growing in the commercial banking space. NDB remains dedicated to bringing its customers one step closer to accomplishing their life long ambitions and uplifting their standards of living through the range of services that is accessible through its growing branch network. Further details on NDB’s many products can be obtained from its 24 hour Call Centre, by calling 011 2448888, visiting the nearest NDB branch or by visiting NDB Bank’s website on www.ndbbank.com.

Reuters – Sri Lankan shares hit a nine-week closing low on Wednesday, but turnover touched a six-year high as foreign investors exited from Lanka ORIX Leasing Company Plc. The Colombo stock index ended 0.23 points weaker at 6,440.20, its lowest closing level since Jan. 23. LOLC Holdings (Private Ltd) bought nearly 30 percent stake in its own subsidiary, Lanka Orix Leasing Company Plc, from ORIX Corporation of Japan, the company said in a disclosure to the bourse. The Japanese firm’s stake sale resulted in a foreign fund outflow of a net 12.7 billion rupees ($81.62 million) worth shares on Wednesday, reversing the year-to-date net foreign inflow to a net 5.3 billion rupees worth outflow. This was the highest net outflow in the last nine years for which data is available. Turnover stood at 13.4 billion rupees ($86.12 million), the highest since March 16, 2012, and well above this year’s daily average of around 1.2 billion rupees. “The biggest trade was the LOLC deal. Apart from that, there was no improvement in sentiment as investors are waiting for the outcome of the no-confidence motion against the prime minister,” said Prashan Fernando, CEO at Acuity Stockbrokers. Losses in shares such as Ceylinco Insurance Plc, which fell 6.8 percent, and Ceylon Theatres Plc, which ended 4.4 percent weaker, offset gains by Lanka ORIX leasing Company and Dialog Axiata Plc, which ended up 2.2 percent. Shares in Lanka ORIX leasing Company rose 6.3 percent. Prime Minister Ranil Wickremesinghe is facing a no-confidence motion, which will be debated on April 4 before voting. Analysts say Wickremesinghe needs support from many political parties to survive the vote. Negative sentiment over the island nation’s slower economic growth also weighed on the market, brokers said. The index fell 1 percent last week, its fourth straight weekly drop. Sri Lanka’s economy grew by 3.1 percent in 2017, the slowest pace in 16 years and well below the 4.5 percent seen in 2016, revised government data released last week showed.

Affirms commitment to Sri Lanka; The Coca-Cola Company and its partners to contribute USD 50 MN by 2023

March 29th 2018, Colombo: The President and CEO of The Coca-Cola Company, James Quincey, met with the Honorable Prime Minister Ranil Wickremesinghe, in his maiden visit to the country. Affirming the company’s commitment to Sri Lanka, The Coca-Cola Company and its bottling partner, committed to contribute USD 50 MN+ into the ecosystem of the country over the next 5 years. Mr. Quincey’s visit to Sri Lanka, within his very first year of taking office reflects the company’s continued commitment to the country. It also follows the FIFA World Cup Trophy Tour by Coca-Cola in January 2018 that caught the imagination of the youth and footballing community of our country. Coca-Cola is one of the leading consumer brands in the world, serving almost all possible beverages ranging from the Classic Coke to Fruit Beverages to Dairy to Tea and Coffee. Coca-Cola has been operating in Sri Lanka since 1961, contributing significantly to Sri Lankan economy. Globally, The Coca-Cola Company is evolving and adapting to lifestyle trends, while continuing to keep people – and their needs – at the heart of the business. The Coca-Cola Company is becoming a company that provides ‘Beverages for Life’. The consumers are changing what they want and Coca-Cola as a company is therefore accelerating leadership in some of the consumer preferred categories. The Company will continue to focus on its consumer centric portfolio and offer greater choice to its consumers. The idea is to have a portfolio of offerings for the consumer to choose from. In Sri Lanka, responding to consumer demand, the company launched Sugar-Free options for all its sparkling and fruit flavored beverages. While Coke Zero and Sprite Zero were launched in 2017, Fanta Orange, Fanta Portello, Fanta Cream Soda and Lion Ginger Beer, were introduced early this year providing consumers with more choice to enjoy the drinks’ natural flavors and a great, fruity taste without the sugar. The concept of sustainable development is at the heart of The Coca-Cola Company and the way it does business. The company has continuously been striving to create lasting positive impacts in the communities it proudly serves. In January this year, Coca-Cola announced an initiative called “World Without Waste”. World Without Waste is the Coca-Cola Company’s global goal to help collect and recycle the equivalent of 100% of its packaging by 2030. This goal is the centerpiece of the company’s new packaging vision in Sri Lanka as well. Through this the Coca-Cola system in Sri Lanka intends not only to make packaging 100% recyclable but also collect and recycle the equivalent of 100% of its packaging and work towards a cleaner and better Sri Lankan environment. James Quincey was appointed as President and Chief Executive Officer of The Coca-Cola Company on May 1, 2017. Prior to this, he served as the Company’s President and Chief Operating Officer, leading all of the company’s operating units worldwide. He joined The Coca- Cola Company in 1996, and has served in various roles of leadership in Latin America and Europe.

Caption: (L-R): Lakshan Madurasinghe – Country Public Affairs and Communication Manager, Coca-Cola Beverages Sri Lanka Limited, Ishteyaque Amjad – Vice President, Public Affairs & Communication, Coca-Cola India & South West Asia, T. Krishnakumar – President, Coca-Cola India and Southwest Asia, James Quincey – President and Chief Executive Officer, The Coca-Cola Company, Hon. Ranil Wickremesinghe – Prime Minister of Sri Lanka and John Murphy – President, Asia Pacific Group, The Coca-Cola Company

Xinhua – Bank of China opened its first branch in Sri Lanka’s capital Colombo on Wednesday evening. Sri Lankan Prime Minister Ranil Wickremesinghe, who was the Chief Guest at the ceremony said the opening of the Colombo branch was an important step in strengthening the island’s economy and it opened a new chapter in the modern history of bilateral relations. “The Bank of China is opening in Sri Lanka at a time when Colombo city is transforming into a megapolis. Bank of China has a crucial role to play in helping this island by strengthening our local businesses while also being able to attract more Chinese investments into the country,” Wickremesinghe said. The prime minister added Bank of China’s success was also a testament to the rapid economic growth of China in the past three decades and while it was the fourth largest bank globally, it would not be too long before it emerged as the leading bank in the world. Governor of the Sri Lankan Central Bank Indrajit Coomaraswamy, speaking at the ceremony, hailed the entry of the Bank of China into Colombo as a “major landmark” in the history of the Sri Lankan economy. He said the bank, with its large network of branches in China and other parts of the world, will not only help expand trade in Sri Lanka but help small and medium enterprises grow and tie up with manufacturers overseas as part of international supply chains. Chairman of the Bank of China Wang Xiquan said that the hundred-year-old institution now has 600 branches overseas and links with 1,600 financial institutions across the world. He said, the opening of its Colombo branch will mark the beginning of a new era for the Chinese financial industry to serve Sri Lanka and its Colombo branch was an opportunity to closely focus on the overall strategic cooperation between China and Sri Lanka. Chinese Ambassador Cheng Xueyuan described Sri Lanka as a “time tested friend” of China and thanked Prime Minister Wickremesinghe for the support he had given to set up a branch in Colombo. Photo courtesy – Daily FT

Dialog Television, a subsidiary of Sri Lanka’s premier connectivity provider, Dialog Axiata PLC announced the launch of Adhub.lk, a cutting-edge online platform for buying television ad spots on its direct to home Dialog Television. The online portal will enable startups, small and medium entrepreneurs and corporates to directly book advertising space with Dialog Television. Adhub.lk is Sri Lanka’s first online marketplace and user-friendly platform that allows businesses to schedule, buy and review a media plan on Dialog Television. Adhub.lk provides Sri Lankan enterprises with a simple and efficient mode of buying advertising spots by creating a fully integrated one-stop solution that enables businesses to schedule and keep track of ad spots directly from the website. The portal will provide a detailed review of all exclusive deals that are offered by Dialog Television to its clients, as well as in-depth information on individual channels and programming, allowing businesses and advertisers to create and launch high-impact and high frequency media schedules, fueling their brands. The platform is accessible to a diverse portfolio of clientele, ranging from regional businesses to small and medium enterprises, that wish to move beyond print, radio or digital media to advertise their brands to a larger audience via television. The product offers solutions to any corporate, presented in an easy-to-use user interface and will empower-businesses through accessibility on all internet-capable devices. Payments can be made with the use of any credit card and will be channeled through a high-security payment gateway via Genie, powered by Dialog. Commenting on the launch, Chirantha De Zoysa, Head of Business – Dialog Television, Dialog Axiata PLC said, “Dialog continues to spearhead digitisation and digital inclusivity across Sri Lanka, with the introduction of innovative solutions such as Adhub.lk. The launch of Adhub.lk provides a revolutionary platform for enterprises of all sizes. The data-driven online media planning and buying experience brings the easiest and the most efficient way for businesses to buy media airtime/schedule time online.“ Adhub.lk allows users to easily edit the pre-suggested plan and customize individual channels to suit their budgetary and target requirements. Simple to navigate, businesses can select an available package or customise a package and submit content for review to complete the process via an online transaction. Additionally, Adhub.lk will host an array of international channels to advertise on ranging from educational to lifestyle and other entertainment channels, allowing users to select packages based on selected audience. The platform will feature a segment on daily hot deals where special promotional packages will include deals on popular programmes and belts including Bollywood, Tamil, Sports, Kids, Hollywood and English Entertainment and Edutainment. Some of the exclusive deals include a sporting action pack for 20 spots at Rs. 15,000, a children’s prime time pack for 12 spots at Rs. 25,000 and Tamil and Hindi specials at cost effective deals. These exclusive online deals give advertisers the opportunity to schedule TV ad spots for as low as Rs. 1000 upwards, enabling wide reach and exposure to Dialog Television users. Chirantha De Zoysa added, “Adhub.lk, is a progressive step toward redefining the way Sri Lankan businesses participate in media buying, providing users access to convenient and affordable advertising solutions. Dialog continues to be at the forefront of innovation with the launch of this platform, yet another exemplification of our continuous support of the industry.”

Empowered women, Empower women

Gender gaps hold the world back… Google started Womenwill as a global initiative to help make a difference in bridging gender gaps and empowering women worldwide, by focusing their resources, time and technology to erase these gaps. Google’s aim is to support and develop programs so women in every market can connect to the information they need and the tools to make the most of it – to help them learn, succeed, and be heard. There are four program areas where we work to erase gender gaps, based on Google’s mission and where we feel the opportunity for us to have an impact is most significant is Digital literacy, Entrepreneurship, Inclusive Workplace, Leadership. Womenwill is to create economic opportunity for women everywhere, so that they can grow and succeed. Helping women make the most of technology to build skills, get inspired, and connect with each other through trainings, events and advocacy, we aim to drive conversations promoting gender equality to benefit everyone. This enables women worldwide to connect with likeminds and be a part of a global Google community. The official Womenwill Sri Lanka Launch Event will take place on 7th April 2018 at MAS Innovation Centre, Colombo 02 from 9am onwards. This is open to women from all industries and sectors. If you are a working woman or woman entrepreneur, you can attend this free event via registration. Log onto GBG Colombo Facebook page for the registration and more information. Womenwill and GBG (Google Business Group) have played important roles in setting clear objectives, ensuring continued visibility of Google’s commitment to narrow the opportunity gap and empower people to harness the power of technology for growth and innovation. GBG Colombo GBG (Google Business Group) Colombo has been functioning since 2012 when the program was launched globally and since then we have run over 250 events reaching out to over 15000 people in the local IT & business sectors. GBG is Google’s Community for entrepreneurs and business professionals to come together, build relationships and learn from each other and industry experts, to get inspired and drive business success. GBG is present in over 35 countries with over 150 chapters globally.

Sri Lanka’s most innovative retail bank, HNB PLC, announced the return of its HNB Avurudu Card Promo, open to all HNB cardholders till the end of April 2018. Timed to coincide with annual celebrations of the Sinhala and Tamil New Year, this year’s promo will provide customers with an unprecedented range of deals and discounted offers from the very best brands and retailers in the country, including discounts of up to 50% from selected retail outlets and hotels that are sure to help cardholders double their happiness this New Years’ season. Aiming to deliver the highest value to its esteemed customers, this year, HNB has tied up with over 150 partner merchants to offer customers unbelievably diverse range of products and services, including a vast selection of the most popular local and international retail brands, in addition to a comprehensive suite of fine dining, leisure, travel and hotel promotions, thus offering HNB cardholders unprecedented value for money and unmatched choice. Through its latest promotion, HNB cardholders will gain access to a dazzling variety of deals – including up to 50% off on selected offers – from over 100 of Sri Lanka’s most popular hotels, and retail chains, together with exclusive deals on dining and travel, and some of the best discounts on jewelry and lifestyle brands. “The Sinhala and Tamil new year is naturally a very important time for Sri Lankans. It is a time for family and friends and connection. We have worked hard to assemble some of Sri Lanka’s most sought after brands together on a single platform in order to deliver superior value to our customers this holiday season,” HNB Head of Cards, Roshantha Jayatunge stated. Special offers are also available for travel promotions at 0% interest over 12 and 24 month installments with no added fees for any travel related transaction between Rs. 25,000 – Rs. 1 million valid until 31st May 2018. Currently, HNB offers card membership in the form of Visa Classic, Gold, Platinum, Signature and Infinite, in addition to MasterCard Regular, Gold & World, while each cardholder is facilitated with a host of other inviting features including the waiver of any joining fees and free supplementary cards to their loved ones with no joining or annual fees. HNB cards are also linked to complimentary overseas travel and health insurance, reimbursements on fuel surcharges, and extremely flexible payment options tailored to meet the requirements of each individual card holder. For more information on HNB Cards and Offers, visit: www.hnb.net Photo caption: Roshantha Jayatunge, Head of Cards, HNB

Lanka Property Web Introduces Agent Verification

Sri Lanka calls for Bangla connectivity to boost exports, investments

Sri Lankan stocks fall to lowest close in nine weeks

Nawaloka Hospitals debuts Sri Lanka’s first ever Kiosk printing lab reports, package info

Shift sends 10 young professionals for AdFest 2018

Noritake’s Carbon Foot Print Project clinches Silver at JASTECA Awards

Sampath Bank reaffirms commitment to Entrepreneurship Development

SriLankan Airlines in partnership with Air Seychelles

UL passengers can connect to Johannesburg and Mauritius

Mobitel takes the lead in helping combating Dengue among school children with the ‘DengueFreeChild’ app

Team Phoenix from University of Moratuwa wins SLASSCOM 4iR Hackathon powered by Virtusa

World’s leader in car production opens new door for Sri Lanka rubber, tyres

Ishara Nanayakkara acquires LOLC Japanese shareholding for Rupees 12.8 billion

Launch of the Revamped Central Bank of Sri Lanka Corporate Website

NDB adjudged ‘Best Bank in Sri Lanka’

Sri Lankan stocks mark nine-wk closing low; turnover at six-yr high

Coca-Cola President & CEO James Quincey meets Prime Minister in his maiden visit to Sri Lanka

Affirms commitment to Sri Lanka; The Coca-Cola Company and its partners to contribute USD 50 MN by 2023

Bank of China opens first branch in Sri Lanka

Dialog Television launches Adhub.lk, Sri Lanka’s first online media buying platform

Google’s Womenwill Programme Launch in Sri Lanka

Empowered women, Empower women

Double your happiness this festive season with HNB Avurudu Card Promo 2018