Adaderana Biz English | Sri Lanka Business News

Reuters – Sri Lanka on Wednesday signed an agreement with a subsidiary of U.S. firm Schlumberger for a $50 million seismic study off the country’s east coast to evaluate any prospective oil resources, a senior government official said. Sri Lanka signed the agreement with Eastern Echo DMCC, a subsidiary of Schlumberger, to carry out seismic data acquisition surveys, advance data processing and interpretation work or modeling of petroleum systems. “The main objective of entering into this agreement is to acquire more petroleum data using modern acquisition and processing techniques,” Arjuna Ranatunga, Minister of Petroleum Resources Development told reporters after signing the agreement in the Sri Lankan capital Colombo. Ranatunga also said that the company would invest at least $50 million for several data acquisition projects, including 2D and 3D seismic, in selected offshore areas around Sri Lanka and would recover the investment from sales proceeds to multiple investors.

This agreement follows comments on May 4 from the Director general at Petroleum Resources Development Secretariat (PRDS) Vajira Dassanayake, who said Sri Lanka would sign agreements with French oil company Total and Eastern Echo DMCC for a seismic study off its east coast.

Sri Lanka first signed a deal with Total in 2016 to conduct a study off the eastern coast but this did not take place. Total had earlier signed a two-year agreement with PRDS to survey around 50,000 sq km off the east coast from the air, at a cost of $25 million to acquire data on unexplored areas. Dassanayake earlier in May said Total would invest $3 million to $10 million for the seismic study, while Eastern Echo DMCC would carry out the marine survey. Officials from Total and Schlumberger did not immediately respond to requests for comment. Sri Lanka produces no oil and is dependent on imports for all of its fuel requirements, despite trying to reinvigorate oil and gas exploration after its 25-year civil war with Tamil separatists ended nine years ago. Importing oil cost the island $3.2 billion in 2017.

Third Space Global, the British owned and BOI approved company based in Orion City was recognised as a Great Place to Work 2018 company. The GPTW 2018 certificate was officially presented to Third Space Global’s CEO Roshan Nilaweera by GPTW Sri Lanka’s CEO, Kshanika Ratnayaka on Monday, 14 May at the Third Space Global office. Ms. Ratnayaka commented that this is an exceptional achievement given the uniqueness of Third Space Global. Unlike many of Sri Lanka’s successful companies, TSG is relatively young, having only been set up in June 2015. Since 2015, TSG has rapidly scaled from 25 to 250 staff whilst growing its business volume 17 fold. Despite its youth, TSG has remained focused on building a strong culture based on its core values of: Care, Commitment, Integrity, Innovation, and Excellence. This has allowed the team to rapidly adapt and grow as it scaled. It is not just the company’s age, Third Space Global’s workforce too is unusually young, with an average employee age of 23.3 years. Third Space Global continues to break with tradition as female staff represent 62% of the workforce. This figure is nearly twice that of the disappointing 36% female representation in the national labour force – the successes and challenges of which were discussed by Countess Sophie during her recent visit to Sri Lanka. TRH Prince Edward and the Countess also visited Third Space Global during their February trip. Ms. Ratnayaka also commented on how exciting it is for Sri Lanka to have Third Space Global provide education services to the UK in such an innovative method. Currently, Third Space Global is the only company in the world that delivers one-to-one Maths online teaching to a state school education sector. By working directly with the schools, TSG are able to work with at-risk children who need extra support, thus allowing TSG to pursue its social mission “We seek social change by cultivating a global community of the most ambitious talent to make effective online teaching more accessible than ever before.” For Roshan Nilaweera, this award is deserving recognition of the staff and culture at TSG. Going forward, Third Space Global intends to build upon this success by expanding its CSR programmes in collaboration with Sri Lanka’s Department of Education as well as Commercial Bank whilst also looking at the development of a new technology platform to create jobs and opportunities across the whole of Sri Lanka. Photo caption: GPTW CEO, Ratnayaka and TSG CEO, Nilaweera with the GPTW award

(Left) GPTW CEO, Kshanika Ratnayaka presenting Third Space Global with the GPTW award and (right) Earl and Countess Wessex visiting TSG in Jan 2018

For years, the British Council Colombo Library has challenged the traditional perception of a library. While being home to the best selection of books and learning resources in Colombo the venue is also well known as a gathering space for artists, thinkers and thought leaders. On Sunday 3 June, the British Council Library will reopen as a space that embodies this role it plays as both a repository of knowledge and convener of people and ideas. To celebrate, an open day will present an exciting programme of events that capture the library’s vibe- ‘It all happens here’! The British Council is the UK’s international organisation for cultural relations and education opportunities. In Sri Lanka, they have been active for almost seven decades in the spaces of English language education, education and society, and the arts. The British Council Library is an extension of its commitment to these three pillars; with over 25,000 Sri Lankan members and centres in Colombo, Kandy and Jaffna, the library is an institution. In addition to the usual resources, members have access to an online library with over 14,000 e-journals and over 119,000 e-books on various subjects. Over the years the library has morphed into the ideal getaway for anyone. In a mood to read? Then browse through the extensive, diverse selection of books on the shelves. In the mood for some company and good art? Attend one of the many open mics, theatre nights, book readings and signings, storytelling sessions, panel discussions, and movie screenings. This is a space where thousands of people- both young and old-have met and forged connections and long-lasting friendships. With the refurbishment, the British Council Colombo Library builds on this convening capacity. The young learner area will be bigger, with more space for stretching out with a good book or poring over a magazine. An instrumental area with a piano will serve some light entertainment. There will also be a coffee corner- after all, what pairs better with a book than a steaming hot mug of tea or coffee? On 3 June, it’s open day at the library- inclusive of a book club discussion, a story telling session and drama workshop for kids, art therapy for adults, monologues, acoustic performances, and even an open mic session. Drop by between 10 am and 8 pm on Sunday 3 June to catch the programme; and don’t forget- it all happens here. Photo caption: (Above) Story telling session for kids at the British Council Library and (below – left) Acoustic performances at the British Council Library and (right) Little Coders at the British Council Library

~ The impact of infrastructure – Steven Mayes, Managing Director, JLL Lanka Much has been made in the media lately, about foreign direct investment in infrastructure in Sri Lanka, principally from China, and concerns about Sri Lanka becoming over reliant on such sources for its development. There has been less discussion as to how new infrastructure feeds into other sectors, such as commercial, hospitality and residential real estate, and the trickle down benefits to all, as wealth is distributed throughout the economy. A number of recent road infrastructure projects, have been instrumental in making vast tracts of land in Sri Lanka’s south west quadrant more accessible. Reduced travel times from key entry points have opened previously redundant land to development possibilities, especially in the hospitality sector. Once sustainable tourist numbers are established, commercial enterprises, including retail as well as food & beverage outlets, enter the market to service tourist requirements, and these are quickly followed by residential developments, in all price segments, as demand can be verified. This process is not limited to roads, as over time, other methods of moving people and goods become necessary, driving rail improvements and the development of regional airports to meet additional demand. Perhaps the best known example of this effect in Sri Lanka is the 126 km, E01 Southern highway, opened in November 2011, between Colombo and Galle, extended to reach Matara in 2014 and now being pushed through to Hambantota. Other routes that are having positive outcomes for real estate include the 99 km Colombo to Kandy Expressway, being developed over two phases, and scheduled in time to be extended northwards to Jaffna and eastwards to Trincomalee. 29.2 km of the Colombo Outer Circular Highway (OCH), funded by the Japan International Cooperation Agency (JICA) opened in March 2014 between Kottawa and Kaduwela, being one of several planned phases to create an orbital belt around Colombo, linking highways and easing congestion. Negombo is perhaps one of the clearest examples of the infrastructure effect, enjoying more overnight stays than any other beach destination in Sri Lanka – 90% of which from leisure travellers. The closest resort to this key entry point currently has an inventory of 1400 keys and is dominated by the Jetwing group with 6 facilities and 400 rooms. However, recent infrastructure improvements, including the Peliyagoda, Negombo, Puttlam Expressway extension has resulted in some 300 rooms being added, representing a growth of 17%, and a future supply of 800 rooms in the pipeline, an explosive 57% increase! The coastal stretch from Bentota through Hikkaduwa to Balapitiya, close to the Southern Expressway and the mooted Southern Railway Line improvement scheme, is witnessing meteoric growth. International hotel operators from as far afield as Spain, India, Thailand and Japan are adding significant inventory, and local brand John Keells is adding 150 new keys by redeveloping the Bentota Beach Hotel. Other schemes that have leveraged reduced travel times include the government initiative, led by the Sri Lanka Tourism Development Authority, Dedduwa Lake Resort, which plans to develop 1800 hectares of wetlands to the east of Bentota, into an integrated resort facility, utilizing existing waterways and enhanced connectivity. Further south, the historic fort city of Galle was one of the first beneficiaries of improved infrastructure. The extension to Matara has opened up 64 km of coastline as far as Tangalle, for development. Previously, the scale and height of development was restricted to reflect the landscape and height of coconut palms, but now two 12 storey residential complexes by Fairway dominate the vista and further along the coast at Weligama the 14 storey, 198 suite Marriott Hotel & Spa certainly stands out. In the luxury hospitality sector, the 172 room Amari Galle is a notable new entrant and in the luxury residential space, Serenia Talpe, just along the coast, with 47 units, is scaled to blend with the beachscape environment, while Elysian, Mirissa, takes a different approach, with 5 towers, up to 14 storeys over podium level, set to tower over the neighboring area. Municipal authorities are struggling to keep abreast of the scramble for development applications, but the Coastal Conservation Department has flexed its muscles, recently, bulldozing 21 allegedly illegal structures being used for hospitality, mainly food and beverage purposes, on Mirissa beach, following complaints from concerned persons. Moving inland to Sri Lanka’s fabled hill country, the commercial centres of Kandy and Nuwara Eliya are yet to realise the full impact of the infrastructure bonanza, as modern standard road and rail connections are yet to reach these important tourist destinations and regional commercial centres. Land prices have, nevertheless, been rising steadily in expectation of a boom in development activity when connectivity improves. Today there is a lack of internationally recognized hoteliers in either location, but Hilton Group have recently signed up to operate a 150 room Hilton Kandy Resort and Double Tree by Hilton will operate a 96 key hotel in Nuwara Eliya. The residential sector is still finding its feet in Kandy although the 18 storey, 93 unit, Dynasty Kandy, catches the eye and in Nuwara Eliya, Span 20 Tower, by Span Engineering will offer 56 units over six floors. About JLL Sri Lanka: JLL Sri Lanka is the leading professional services firm specializing in real estate in Sri Lanka. Based out of Colombo, the firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services including research, analytics, project and development services, property and asset management, integrated facilities management, real estate capital markets and transactions encompassing commercial office spaces, hotels, land, industrial, retail and residential units. With over 100 staff based in the country, the firm aims to combine local market knowledge with its access to global multinational relationships and capital sources, to provide Sri Lankan corporates, government agencies and clients with superior execution, towards transforming their real estate portfolios into efficient inventories, as well as in raising capital for real estate assets. For further information, please visit www.jll.com.lk Photo caption: Steven Mayes, Managing Director at Jones Lang LaSalle Sri Lanka

Watawala Tea Ceylon Limited (WTCL), the consumer arm of the diversified conglomerate Sunshine Holdings PLC, honoured their outstanding achievers who have excelled during the financial year of 2017/18 at the recently-concluded WTCL Annual Sales Convention 2018. Held at the Lotus Ballroom of Shangri-La Colombo, this year’s gala celebration was organized under the theme of ‘Team Unstoppable’—for having an outstanding 2017/18, achieving the highest sales growth in domestic tea in recent years of 36%, further strengthening their market leadership position with market share increasing from 34.7 to 36.6%, and winning prestigious accolades for their tea brands. The event was graced by Watawala Tea Ceylon Limited’s Board of Directors, Managing Director, Shyam Sathasivam, Chief Executive Officer, Surith Perera, key members of the Sunshine Group’s leadership team, distinguished guests and employees. Speaking at the annual convention, Managing Director, Shyam Sathasivam said,” I would like to thank the team and congratulate all the winners who have been nominated for these coveted awards. The team has worked hard to achieve excellent growth and accolades, further strengthening our position in a highly-competitive industry.” Congratulating and thanking every employee who contributed immensely for WTCL’s success during the last financial year, Surith Perera commented “The results were outstanding since it was achieved in an extremely challenging year where both FMCG and beverage markets were contracting. This is the work of an excellent team – a team that challenged each other to push the boundaries but also supported each other to win in the market place.” The tea brands of Watawala Tea Ceylon Limited had been recognized several times during 2017 for their superior quality and taste, including the coveted ‘Most Popular Hot Beverage Brand of the Year’ won by Watawala Tea at the Slim Nielsen Peoples Awards. Subsequently, Kantar World Panel recognized ‘Watawala’ as the number1 beverage brand in the country in their 2017 Global Brand Foot Print Report. Ran Kahata, WTCL’s ‘value for money’ brand, won a Gold Effie for their campaign titled ‘One Spoon, Two Cups’ (Eka Hendai Koppa Dekai). A total of 43 awards were presented at this year’s convention under the categories of Unsung Hero, Service, Sales awards including Best and Turnaround Teams. The Chairman’s trophy was presented to Senior Sales Executive Dushantha Samaradiwakara, and Sales Representative Vikum Ranathunge was adjudged as the runner up. Watawala Tea Ceylon Ltd. is the largest branded tea company in Sri Lanka with the highest market share, with a portfolio of 3 brands – Zesta, Watawala Tea and Ran Kahata, appealing to different palates and consumer segments in the country. 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. Photo captions: (Above) Dushantha Samaradiwakara receiving the Chairman’s Trophy from Surith Perera and Shyam Sathasivam and (below – top) Members of Colombo South Area team, winners of the ‘Best Sales Team’ award with Surith Perera, Priyantha Chandrasiri – GM Sales and Farman Nizar – GM Marketing and (bottom) Members of Northern Province team, winners of the ‘Best Turnaround Team’ award with Surith perera, Priyantha Chadrasiri- GM Sales and Farman Nizar – GM Marketing

Sri Lanka’s leading global management consulting firm, STAX, announced the appointment of veteran consultant and renowned tech entrepreneur, Firaz Markar, as the head of its newly launched Digital Advisory Service where he is tasked with identifying and unleashing opportunities for disruptive digital growth among Sri Lankan corporates. Commenting on this appointment, Stax Managing Director Dr. Kumudu Gunasekera stated “I am glad to announce the appointment of Firaz Makar as our new Head of Digital. Firaz possesses a proven track record of leading and executing several industry firsts within the Sri Lankan digital space, and I’m certain his expertise and innovativeness will be a huge value-add for our clients as they progress along their digital journey.” Having first joined STAX in 2007, Firaz gained extensive expertise in supporting clients realize their objectives through insight-driven consulting solutions. During his 6 year stint at STAX, Firaz rose through the ranks to lead the research practice. Thereafter, he went on to co-found and successfully grow Carmudi— a Rocket Internet venture in Sri Lanka— and the Sri Lankan arm of iflix— the largest SVOD platform among developing markets. With his return to STAX, Firaz will bring a decade’s worth of experience leading management consulting engagements and launching global digital businesses to advise clients on maximizing long-term value. Firaz holds a BSc. in Information Systems and Management from the University Of London International Programme, and is also well versed in financial accounting through CIMA accreditation. Designed to offer unprecedented value for any corporate considering the establishment of their first digital business or for those already along their digital journey, Stax’s Digital Advisory Services was first launched for the Sri Lankan market earlier this year. Commenting on current challenges and opportunities within the market, Firaz alluded to a growing sense of urgency among the country’s most progressive corporates to take a more structured approach to digital investments. “Many corporates view today’s technological advancements as a double-edged sword. On the one hand, the disruptive innovations enabled by the rising prominence of developments like omni-channel retail, big-data analytics and increasing prevalence of emergent communication and social media platforms, have generated bold new digital strategies capable of winning new market share. Yet at the same time, consumers, businesses, and supply chains, are changing and becoming more complex to manage. Our goal at Stax is to leverage our own technological expertise to ingest and analyze all of this data on behalf of our clients, and distill valuable insights into where and how they can invest to gain the best returns on their digital investments,” Makar explained. Leading the company’s portfolio of digital offerings is the Stax Digital Readiness Index. It provides corporates with an in-depth evaluation of the digital maturity and disruptive influence of a company through an extensive audit of a given client’s digital positioning. By factoring in the nature of their core business, competitor behavior, industry best practices, and internal capabilities, Stax is able to generate invaluable insights into how a digital strategy succeeds while also highlighting opportunities for greater engagement. Meanwhile, the Stax Digital Roadmap service builds on these audit findings, leveraging them towards the development of a comprehensive plan for the implementation of a customer focused digital business strategy. STAX Digital Implementation services are focused on strategy implementation in areas including but not limited to: digital product development and launching, digital marketing optimization, performance management, business intelligence dashboard implementation, and change management. For over 25 years, STAX has been advising 100+ global Private Equity investors and 25+ Fortune 500 companies. Headquartered in Boston, the company has branch offices across Chicago, New York, Colombo and Singapore. Since inception, STAX has delivered over 2,500+ client engagements, across diverse industries covering 40+ international markets. With a growing client base in Sri Lanka, including diversified conglomerates, blue chip industry leaders and large family businesses, STAX inspires organizations to dream big, think outside the box and complement gut-based decisions with fact based insights.

~ Brings home Sri Lanka’s first ever Festival of Media Global Awards Gold Unilever Sri Lanka and Mindshare’s Team Unilever, a unit of GroupM Media Private Limited Sri Lanka, bagged the Gold Award in the ‘Best Use of Digital Media’ category at the Festival of Media Global Awards held in Rome for the Marmite ‘Spoiler-Mite’: The Game of Thrones Spoiler Blocker campaign. The award, Sri Lanka’s biggest global accolade to date in digital marketing, is a landmark achievement for marketing in the island. The Festival of Media Global Awards is an established global benchmark for creativity and innovation in media and recognize the creative use of media and effectiveness as well as media owner innovations. Showcasing the very best in media thinking from around the world, it is open to all those involved in brand communications including agencies, media owners, brands, ad tech and communication specialists. A preeminent panel of judges comprising of senior industry leaders judged work by some of the world’s leading brands to pick winners across 26 categories at this year’s event. Unilever and Mindshare’s Team Unilever deployed the ingenious Marmite ‘Spoiler-Mite’ campaign during the 7th season of the blockbuster TV series, Game of Thrones (GOT), to help fans in Sri Lanka stay away from spoilers that might ruin their GOT experience for them. The campaign involved a Marmite branded Google Chrome extension that allowed users to block all spoilers when they were online. A pop-up interface appeared every time the extension detected a spoiler, giving users the option to choose whether they wanted to see or block the piece of content. Using Love and Hate buttons inspired by Marmite’s Love it or Hate It marketing platform to further cement the connection with the brand. Allowing Marmite to be present wherever GOT was being discussed online, the clutter breaking campaign reached more than 2.5 million Sri Lankans with over 400,000 engagements. “At Unilever, we place the consumer at the heart of everything we do, from product development to marketing communications and beyond. In line with this, the Spoiler-Mite campaign leveraged a global media phenomenon to engage consumers in a meaningful manner. It is an honor to see this work being recognized with a Gold at the Festival of Media Global Awards. It wouldn’t have been possible without the relentless efforts and commitment of the extended Marmite brand team and our longstanding digital partners, Mindshare’s Team Unilever. The award also helps showcase Sri Lanka’s ingenuity and digital prowess to the world,” said Sharmila Bandara, Marketing Director – Home Care, Foods & Beverages at Unilever Sri Lanka. “As media platforms get ever more cluttered, it is becoming increasingly difficult for brands to rise above the noise and get their messages across to consumers. Working together with our digital partners, Mindshare’s Team Unilever, we were able to capitalize on the popularity of Game of Thrones for Marmite through an innovative digital proposition – Spoiler-Mite. We are delighted to see this campaign being recognized at the Festival of Media Global Awards. Bringing glory to the nation, it underscores Sri Lanka’s position as a strong player in the digital media landscape. We look forward to working on more such path breaking media innovations,” said Channa Tennakoon, Head of Media and Activations at Unilever Sri Lanka. Shalendra Mendis, Head of Digital for Mindshare’s Team Unilever said “Spoiler-Mite was one of those epiphanic ideas you get in the middle of the night and you instantly know it’s going to take the marketing world by storm. Spoiler-Mite’s ingenuity harnessed the power of Game of Thrones and converted it into absolutely clutter breaking, contextually relevant and precisely targeted messaging for Marmite. Mindshare’s Team Unilever is the best in the business: Spoiler-Mite and this FOMG Gold just proved that we are truly world class. Delighted with this win which gives us the impetus to keep driving impactful digital innovations.” The ‘Spoiler-Mite’ campaign has received several other accolades over the past year including winner of the MindShare Global Campaign of the Month in November 2017 as well as emerging as the Runner Up in the Best Adaptive Solution of 2017 category and being shortlisted in the Campaign of the Year 2017 category at The Mindshare Original Thinking Awards. About Unilever: Unilever Sri Lanka is one of the biggest FMCG companies in Sri Lanka, with 29 market leading brands in categories such as Home Care, Personal Care and Foods. The Company was established in Sri Lanka in 1938 with brands such as Sunlight, Lux and Pears Rose. Unilever’s corporate purpose is to make sustainable living commonplace. The Unilever Sustainable Living Plan sets out to decouple the company’s growth from environmental impact, while increasing its positive social impact. The Plan has three big goals that by 2020 will help improve people’s health and well-being, reduce the company’s environmental footprint, and enhance livelihoods across its value chain. For more information about Unilever, please visit www.unilever.com.lk. About Mindshare: Mindshare is a global media agency network with billings in excess of US$34.5 billion The network consists of more than 7,000 employees, in 116 offices across 86 countries spread throughout North America, Latin America, Europe, Middle East, Africa and Asia Pacific. Each office is dedicated to forging competitive marketing advantage for businesses and their brands based on the values of speed, teamwork and provocation. Mindshare is part of GroupM, which oversees the media investment management sector for WPP, the world’s leading communications services group. Photo caption: The teams from Unilever Sri Lanka and Mindshare’s Team Unilever

Reuters – Sri Lankan shares fell for a fourth straight session on Thursday and posted their lowest close in five months, dragged by conglomerate John Keells Holdings Plc on foreign investor selling. Foreign investors sold shares of John Keells following reports that the MSCI Frontier Markets 100 Index, which captures large- and mid-cap representation across 29 frontier markets, will remove the stock from its index. MSCI has yet to respond to a Reuters query if it has decided to remove John Keells from the index, but two analysts said the stock will be removed. Foreign investors sold net 475.9 million rupees worth of equities on Thursday, extending the year-to-date net foreign outflow to 1.4 billion rupees worth of shares. The Colombo stock index ended 0.35 percent weaker at 6,398.44. For the month, it declined 1.9 percent.

Turnover was 2.3 billion rupees ($14.54 million), more than twice of this year’s daily average of 998 million rupees.

“There was foreign selling on JKH (John Keells Holdings). With the dip in the share price, the All Share Price (Index) also came down,” said Hussain Gani, deputy CEO at Softlogic Stockbrokers. “There were some month-end settlements also.” A weaker rupee, political uncertainty and the recent fuel price hike also weighed on sentiment, with local investors mostly keeping to the sidelines awaiting cues about the real impact of the floods that hit the island nation over the past week, brokers said. Analysts said investors are waiting to see the full impact of the floods, which killed 24 people last week. Shares of John Keells fell 2.3 percent, Melstacrop Plc ended 3.5 percent weaker, Richard Pieris & Company Plc lost 4.7 percent and Lion Brewery (Ceylon) Plc slipped 2.5 percent. The rupee hit a fresh low of 158.50 per dollar on May 16 on importer demand for the U.S. currency. Analysts said market sentiment had been dented by concerns over political instability following President Maithripala Sirisena’s decision to suspend parliament last month after 16 legislators from his ruling coalition defected. On May 8, Sirisena urged his own coalition government and the opposition to end a power struggle to achieve ambitious goals including anti-corruption measures.

Major output increases in China, Kenya and Sri Lanka will reflect in a 2.2% annual rise in global Black Tea production in a decade, total output volume reaching 4.4 million tonnes, a report had revealed recently.

Accordingly releasing a new report about global tea consumption and production, Food and Agriculture Organization’s Intergovernmental Group (IGG) on Tea, revealed that China would reach the output levels of Kenya, the largest black tea exporter in the world over the next decade. The report further added that Global output of green tea is foreseen to increase at an even faster rate of 7.5% annually to reach 3.6 million tonnes in 2027, largely driven by China, where the production of green tea is expected to more than double from 1.5 million tonnes in 2015-2017 to 3.3 million tonnes in 2027.

The report, however, had warned producers of climate change threat to tea production as tea production is highly sensitive to changes in growing conditions.

“Changes in temperature and rainfall patterns, with more floods and droughts, are already affecting yields, tea product quality and prices, lowering incomes and threatening rural livelihoods,” the report said adding that Tea can only be produced in narrowly defined agro-ecological conditions and, hence, in a very limited number of countries, many of which will be heavily impacted by climate change.

“These climate changes are expected to intensify, calling for urgent adaptation measures. In parallel, there is a growing recognition of the need to contribute to climate change mitigation, by reducing carbon emissions from tea production and processing.”

The report, urges tea-producing countries to integrate climate change challenges, both on the adaptation and mitigation front, into their national tea development strategies.

While world tea consumption has increased over the last decade, traditional importing European countries, with the exception of Germany, have seen a decline in consumption levels, the report said adding that overall, the European tea market is largely saturated. Per capita consumption has been declining for more than a decade, facing competition from other beverages, particularly bottled water.

“Over the next decade, Western countries, in general, are expected to see lower consumption growth” report said. According to the report in the UK, for instance, tea consumption is projected to decrease as black tea struggles to maintain consumers’ interest amid increased competition from other beverages, including coffee. The report, which was finalized by IGG, at its biennial meeting in Hangzhou, China, suggests that tea consumption has also benefited from increased awareness about the beverage’s anti-inflammatory, antioxidant and weight loss effects.

“Such health and wellbeing benefits are seen as the key drivers of future consumption growth” the report highlights.

Merchant Bank of Sri Lanka (MBSL) has gone live on a pair of systems from Fiserv, including the vendor’s core processing platform Signature, a recent international news report on IBS intelligence outlined.

IBS Intelligence is a leading firm in global fintech, core banking systems news and analysis offering comprehensive research, market reports and consulting services.

According to the report MBSL had selected Fiserv following the merger of two subsidiaries of the bank’s group back in 2015, increasing its branch network from 30 to 48 and adding 100,000 accounts to its database.

The report added that the bank chose Fiserv due to the vendor’s ability to provide “a high level of commitment with 24/7 support”, which was “key to a successful implementation”.

“Consumers want easy and reliable access to banking information and services across a variety of devices,” Marc Mathenz, Managing Director, Asia Pacific, Fiserv had said. According to him Proven technology solutions that allow financial institutions to provide the interactivity their customers expect are key to maintaining a competitive edge.

“Choosing the right technology allows financial institutions like MBSL to take advantage of the substantial growth opportunities in the region and the world” Mathenz has said. The report added that Fiserv landed deals with 26 credit unions in Mexico back in April, all of them using the firm’s DigitalAccess solution. It had two other major wins in that month, too, with Farmers & Merchants Savings Bank and Carter Bank & Trust.

Sri Lanka’s merchandise export earnings at US dollars 1,108 million (US $ 1.1 billion) recorded the historically highest monthly value, recent External Sector performance report released by the Central Bank of Sri Lanka (CBSL) said. However, the year-on-year growth of export earnings in March 2018 moderated as the highest monthly export value for 2017 was recorded in March. Earnings from industrial exports had mainly contributed towards the growth in export earnings.

The report added that under industrial exports, earnings from garment exports recorded the highest value

for a month since November 2013 mainly due to the increase in garment exports to the USA, despite a marginal reduction of exports to the EU. Export earnings from gems,diamonds and jewellery increased significantly in March 2018 mainly owing to higher performance registered in gem exports. Increase in export of vegetable, fruit and nut preparations resulted in an increase in export earnings from food, beverages and tobacco. Meanwhile, machinery and mechanical appliances increased during the month led by electronic equipment. However, earnings from transport equipment declined in March 2018 reflecting the base effect as several yachts were exported during March 2017. Meanwhile, all sub categories under agricultural exports, except for tea and unmanufactured tobacco, declined in March 2018. Tea export earnings increased due to the combined effect of high prices and volumes exported.

Meanwhile, lower volumes of cloves and cinnamon exported resulted in a decline in earnings from spices. Earnings from coconut exports also declined during the month due to the drop in exported volumes of desiccated coconut and coconut oil categorized under kernel products. This decline came from the lower production of coconut due to the lag effect of adverse weather conditions. Leading markets for merchandise exports of Sri Lanka, in March 2018, were the USA, the UK, India, Germany and Italy accounting for about 52 per cent of total exports.

A container carrier that sustained damage in tropical storm ‘Sagar’ in the Gulf of Aden, nearly 2,000 nautical miles from Sri Lanka, has been turned around in just 36 hours by Colombo International Container Terminals (CICT) when it arrived in the Port of Colombo. The 369-metre, 14,424 TEU MV Theseus, operated under Ocean Alliance’s Asia-Mediterranean service by Evergreen Line, was en-route to Colombo on its weekly scheduled call after Jeddah, Saudi Arabia, when the storm hit. Some of its containers were washed away while others were crushed, scattered around or left hanging along the stacks. On receipt of a distress call, the operations team from CICT boarded the vessel for a pre-inspection and developed a comprehensive action plan with a dedicated team of ship-to-shore gantry operators and experienced stevedores, after which vessel was brought alongside the CICT berth, by the pilots of the Sri Lanka Ports Authority (SLPA). The salvage operation commenced with an inspection of all damaged containers by a professional surveyor. Thereafter, the CICT team launched the simultaneous lashing and unlashing operation, which involved unlashing the damaged units, lashing adjacent containers to secure them and discharging the damaged units. After CICT’s efficient operation which was completed in less than a day and a half despite the harsh weather conditions, the MV Theseus was swiftly despatched to its next stop in Singapore. This was the third such salvage operation carried out by CICT in the past three years. In 2015 CICT completed a complex salvage operation for the weather-damaged MOL-Cosmos and in 2017 aided in the salvage of the Panama-flagged MSC Daniela which caught fire 120 nautical miles west of the Colombo Port. Commending and thanking CICT for its role in the salvage of MV Theseus, Mr Preethilal Fernando, Executive Director of Hemas Maritime (Pvt) Ltd, the agent in Sri Lanka for Evergreen Line said: “The positivity showed by your team from the inception is truly commendable and we admire the team work, planning and operational flexibility demonstrated by the team. With such operations, we are confident that CICT will be a catalyst in fulfilling the country’s vision of being a maritime hub in the region.” “CICT is proud to have been able to provide its expertise to MV Theseus at a time of need, and is also thankful to the Sri Lanka Ports Authority for providing the safe navigation and berthing and un-berthing of the vessel,” said Ms Catriona Jayasundera, General Manager Marketing and Commercial at CICT. “We are also happy to contribute to the Port of Colombo’s growing reputation for operational excellence.” Recently adjudged the Best Container Terminal in Asia in the Under 4 million TEUs at the Asian Freight, Logistics and Supply Chain (AFLAS) Awards, CICT, which commenced operations in July 2013, manages the Colombo South Terminal of the Port of Colombo, the first and currently the only deep water terminal in South Asia equipped with facilities to handle the largest vessels afloat. In four years of operation, CICT has brought some of the largest vessels plying the Asia-Europe routes to Colombo. Of these, Milan Maersk (20,568 TEU), MSC Maya (19,224 TEU), Mogens Maersk (18,300 TEU), MSC New York (16,652 TEU), CMA CGM Marco Polo (16,020 TEU), Edith Maersk and EMC Thalassa Hellas (each 14,000 plus TEUs) and their sister vessels are now regular callers at CICT. Photo Caption: The salvage operation in progress at CICT.

~ Nawaloka Air Services ties up with South Korea’s only university with its own runway Nawaloka Air Services, a fully-owned subsidiary of the Nawaloka Holdings recently tied up with one of the most prestigious universities in South Korea to provide exceptional aviation related study programmes to Sri Lankan students. Hanseo University is a private university which was established in 1991. The aviation school was added a decade later in 2001, with a flight training school also being added in 2005. The university’s Taean Airfield supports accredited training for private and commercial aircraft licenses, while also giving students hands on experience within the school itself. Speaking on the signing of the partnership Director of Nawaloka Air Services, S.C Byun said, “Nawaloka is proud to be affiliated with the Hanseo University and provide students the opportunity to study aviation in a state-of-the-art university in South Korea. Hanseo is one of the most recognized universities in the region itself and this opportunity is huge for those who truly wish to see their dreams take flight”. Nawaloka Air Services will provide courses in Aeronautical Engineering, Flight Operations, Air Transportation and Administration, Avionics and Computer Simulation, Air Tourism and Services, Aviation and the Leisure Industry Studies, Helicopter Operation, Unmanned Aircraft Operations and Aviation Software Engineering. Hanseo University is also affiliated with the government of South Korea and several aviation bodies in the country and Asia. For more information please contact Cianne on 0769 125354 or visit www.hanseo.ac.kr for course content.

SriLankan Airlines advises its valued customers that the departure and arrival timings of several flights at Bandaranaike International Airport(BIA) on Sunday 3^rd June 2018 have been changed due to the launch of an experimental flight over the Indian Ocean by a country in the region on this day. SriLankan Airlines regrets any inconvenience caused to our valued customers, due to a factor that is beyond the airline’s control. For more information please contact your travel agent or contact SriLankan call center on 1979 from any telecommunication service provider. www.srilankan.com The following changes have been made to scheduled flight times on Sunday 3^rd June (all times are local):

Property Development makes a critical contribution in ensuring Sri Lanka maintains itself as an attractive emerging market, particularly to secure FDIs essential for the country’s development. Sri Lanka has a considerable number of local developers and international partnerships that continues to change the skyline of Colombo. However, few of these have dared challenge convention in venturing out beyond Colombo. Enter Provident Capital, a Property Development Company and Strategic Partner meant for today’s prudent investor and discerning home owner alike. Driven by innovation, professionalism and its core ambition to reimagine Sri Lanka as a world leader in Sustainable Development, Provident Capital intends to introduce a ground breaking series of developments that offer unmatched investment opportunities for Sri Lankans and foreign nationals. With the collective experience of over 2 decades available at Provident Capital in Real Estate Investments, Development, Banking and Finance, all projects are meticulously planned based on a very specialized knowledge and expertise in Sri Lanka’s Real Estate Sector, Tourism and Emerging Trends. Having formed collaborations with some of the best architects, structural engineers and building contractors in the country, Provident Capital has a series of developments in the pipeline. The first among these and as a testament to its stated intention is ‘The Loft’ Mirissa. An Architectural marvel in the making, The Loft Mirissa is a resort-style condominium project developed for those interested in owning an ocean side apartment of their own in the iconic coastal town of Mirissa. An exclusive, holiday home of your own, completely hassle and cost free with a guaranteed income unlike anything seen before. Furthermore the units are offered fully furnished, equipped and ready to move in immediately upon completion. Provident Capital is also open to form strategic partnerships with select and reputable international and local property developers and investors. Backed by combined expertise of more than 2 decades in the fields of real estate, marketing and sales, banking and finance, Provident Capital is spearheaded by CEO Chaminda Banduthilake, CMO Huzaik Ismeth, COO Rikaz Imtiaz and Director Strategy and Business Development Jeevan Amarasingham. For more information on Provident Capital’s projects and service please call 0117 449556 or email info@providentcapital.lk Photo caption: (Above) CEO Chaminda Banduthilake and (below from left) CMO Huzaik Ismeth, COO Rikaz Imtiaz and Director Strategy and Business Development Jeevan Amarasingham

Sri Lanka’s 100% local dairy manufacturer, Pelwatte Dairy Industries Limited is further extending its offers on the signature Pelwatte Butter during the month of June. The offer this time will be 15% at all Arpico Super Centers island wide. The offer will begin on the 1st of June will be in place until the 30th of June. It will be a part of Arpico’s “June Top Tips” promotional campaign. Pelwatte Dairy is a leading home-grown dairy company that produces many different dairy products such as milk powder, yoghurt, ice-cream and both home use and bulk butter for industrial use. The brand is also widely known for its attempt to make Sri Lanka self-sufficient in milk. Supporting thousands of dairy farmers in Sri Lanka, Pelwatte Dairy produces all of its product at a state-of-the-art factory complex in Buttala. The most stringent quality standards are followed during production while no artificial preservatives etc. are added to increase shelf-life. Therefore Pelwatte Dairy is one of the healthiest products for all ages in the market today. Pelwatte produces both salted and unsalted butter varieties, and is sold in both home-sized and bulk packs. Pelwatte Butter is the cheapest high quality butter in the local market. The added 15% discount means that households can stock up on a premium product at an attractive price. For more information please contact Pelwatte Dairy on 0112 452094.

Say hello to the summer wedding season with The Body Shop’s expert skincare regime as essential arsenal. The Drops of Light range will help partygoers swan through the season with luminous skin from day to night, while Skin Defense is fortified with SPF50+ protection to protect skin from the sun’s glare and the city’s pollution. Drops of Light is brimming with the goodness of North Atlantic Red Algae extract for glowing and even toned skin. Each product in the range targets the five dimensions of healthy looking skin; the 5-in-1 formula stimulates brightness, translucency, and even tone while minimizing the appearance of pores to leave skin feeling smooth and supple. Formulated by The Body Shop’s expert team based on the company’s research about the science behind dark spots and pigmentation, Drops of Light is available in three forms-as a rich and creamy clarifying foam wash; as the Pure Healthy Brightening Day Cream and as Pure Healthy Brightening Serum. For a quick fix -always handy during the season- turn to the Pure Resurfacing Liquid Peel. Skin Defense is the one-bottle solution that helps skin combat the effects of pollution in the city. This multi-protection SPF 50 PA++++ essence works around the clock to combat the threat of the city air’s dirty cocktail-UVA and UVB rays, air pollution, air conditioning, radiation, temperature and humidity, hard water and artificial blue light. The formula is The Body Shop’s strongest solution offering broad spectrum protection in the form of feather light texture; helping to prevent premature ageing and the effects of aggressors on the skin. All products are founded on The Body Shop’s principle of fair community trade practices. Both Drops of Light and Skin Defense use Community Trade Marula oil from Namibia, cold-pressed to ensure the best quality; Drops of Light also uses Community Trade Aloe Vera from Mexico. Ready for the season? Shop Drops of Light, Skin Defense and more from The Body Shop skincare and beauty products at its flagship store on Bagatale Road and outlets at Odel Alexandria Place and the Kandy City Centre. About The Body Shop: The Body Shop is an iconic British retailer of ethical cosmetics and toiletries. It was founded by Anita Roddick in 1976 with the belief that businesses should ‘enrich, not exploit’. A philosophy of creating the best quality cosmetics and toiletries without exploiting the planet’s resources or people has driven the brand, which pursued sustainability and ethical business long before it became fashionable. Photo captions: (Above) Drops of Light Brightening Serum is based on the company’s research about the science behind dark spots and pigmentation and results in healthy looking skin and (below) Skin Defense contains SPF 50+ protection and comes highly recommended by professionals to safeguard skin from the sun’s glare and the city’s pollution

The National Mobile Service Provider, Mobitel, exchanged a Memorandum of Understanding (MoU) with the Sri Lanka Red Cross Society (SLRCS) recently at Trace Expert City. As per the terms of the MoU, Mobitel will henceforth be the Communication Partner for the SLRCS. Having the SLRCS sign on for Mobitel’s communication expertise reflects the perception of reliability of the mobile service provider for critical services that the SLRCS provides to the people of Sri Lanka. In the current climate where flood and landslide warnings are being issued, having a reliable communication partner is crucial for a humanitarian body. This MoU marks yet another accomplishment for Mobitel. As part of the MoU, Mobitel will provide the SLRCS with a mobile donation platform (subscription based/on demand) and assist SLRCS Disaster Response Teams to better serve disaster-affected areas. It will implement special communication programs and services in SLRCS housing and community building projects and extend latest technology assistance for SLRCS Disaster Management Operation rooms and command centers. SLRCS is engaged in critical functions and Mobitel’s expertise in latest technology is well positioned to cater to its mission critical requirements. As the National Mobile Service Provider, Mobitel’s technology provides the ideal bridge for the SLRCS to connect with disaster victims to provide relief and rescue in times of floods. Commenting on the partnership, Nalin Perera – CEO, Mobitel, said, “Mobitel is proud to have been selected by the Sri Lanka Red Cross as their communications solution provider to offer the best in ICT products and services. Mobitel’s innovative and reliable services are truly enhancing communication, technology, health, and IT literacy opportunities for citizens throughout the nation. The SLRCS has been active in the recent flood disasters in Sri Lanka and is a highly reliable relief agency both locally and globally and it is a privilege for Mobitel to partner with such an organization.” Jagath Abeysinghe – President, SLRCS added, “Sri Lanka Red Cross Society provides humanitarian support during times of natural disasters and conflicts, or even community emergencies, providing critical services to save lives and provide essentials for survival and dignity of people. In our mission, we need a reliable communications partner who can not only provide advanced solutions to streamline our disaster management and community housing projects, but also provide connectivity and enhance our operations. We found these qualities in Mobitel and look forward to enjoying Mobitel’s communications solutions in enhancing our critical operations. Sri Lanka has suffered a series of natural disasters in recent years during which our services are badly needed by the disaster affected people and we believe Mobitel will provide the necessary support to ensure we function at our optimal best.” Photo caption: (From left) Sudath Madugalle – Deputy Director General – Sri Lanka Red Cross Society, Jagath Abeysinghe – Honorary President – Sri Lanka Red Cross Society, P.G. Kumarasinghe – Chairman – SLT Mobitel, Nalin Perera – CEO – Mobitel (Pvt) Ltd. and Prabhath Gamage – General Manager – Enterprise Business, Mobitel (Pvt) Ltd

• The new Acer Chromebook Spin 13 and Chromebook 13 boast stylish all-aluminum designs • Includes 8th Gen Inte® Core

processors providing remarkable performance and exceptional battery life1 • Acer Chromebooks feature dual USB 3.1 Type-C Gen 1 ports for convenient charging and data transfers, and Android app support via Google Play Store Acer launched one of world’s first convertible Chromebooks, the Chromebook Spin 15 and an updated Chromebook 15 at the annual next@Acer event held in New York last week. The Taiwanese brand introduced these two new premium Chromebooks designed for business use that will be a gamechanger in the consumer market. In keeping with Acer’s focus on style and durability, both models feature an all-aluminum design and a full HD+ 13.5-inch display in a 3:2 aspect ratio. The new Acer Chromebooks are powered by 8th Gen Intel® Core

processors providing exceptional performance and battery life for productivity on the go. The convertible Chromebook Spin 13 has 360-degree hinges for use as a tablet, notebook, display, or in tent-mode. It comes with a Wacom® stylus (for pen input) that can be conveniently stored in the device slot. Speaking at the launch, Acer CEO Jason Chen stressed upon the need for style and durability for today’s consumer. “Together with my team, we have come up with so many amazing holistic products offerings that will suit every age and need.” As a leader in Chromebooks, Acer has helped accelerate their adoption in business, education, and at home. As Chrome OS has evolved to include more features, they have responded with designs and form factors that offer meaningful benefits to our customers.” Both the new Acer Chromebook Spin 13 and Chromebook 13 fully support Android apps via Google Play, so customers can have access to Chrome apps and more than two million Android apps for productivity, connectivity, and fun. Also launched at the next@Acer event were the new Swift 5 Ultrabook, two gaming laptops and four gaming towers, including the unprecedented Intel Xeon-powered Acer Predator X. Acer also introduced two new power-packed desktops — the Predator Orion 5000 and 3000. The new members join the Predator Orion 9000, Acer’s top-of-the-line PC pedestal. According to Sunil Nair, General Manager – Singapore & Director – Asia Small Economy Markets at Acer, these products will be launched in Sri Lanka mid June. “Sri Lanka will have all the newly launched products available in the local market simultaneously with Western markets.” He added that focus will be on the “Thin and Light” series (Swift 3) Notebooks and the Predator range of gaming products. “Sri Lankans are very well versed with technology and are one of the first to adopt the latest – be it the latest CPU, Graphics Capability, Full HD Screen etc. In addition, the full gamut of convertible (Spin series) and Detachable (Switch series) Notebooks will also be launched.” This range of new devices and solutions are targeted towards gamers, creators, families, students and professionals.

• Waste to energy plant will convert all of Colombo Municipality’s solid garbage to generate 10 MegaWatts (MW) of power Hatton National Bank as the Lead Arranger of the Syndicated Loan together with People’s Bank, DFCC and Bank of Ceylon signed off Loan Agreements to finance the setting up of Western Power Company’s waste to energy plant, the first of its kind in Sri Lanka. A subsidiary of Aitken Spence PLC, Western Power Company has scheduled the commission of the 10 Mega Watt facility by 2020, in Kerawalapitiya, Muthurajawela, that will consume all of Colombo Municipality’s solid garbage. Designed to use 700 Metric Tons of municipal solid garbage on a daily basis, the Company has already made arrangements with Colombo Municipal Council (CMC) for collection – the preparatory work of which was the need for segregation of household garbage to solid waste and recyclable piles – pre-requisites of an efficient and effective Waste to Energy system. The syndicated facility arranged by HNB is for a total sum of LKR 9.0 billion with Bank of Ceylon, DFCC and People’s Bank joining in as the Co-Lenders. DGM Corporate Banking of HNB, Ruwan Manatunga signed off on behalf of lead financier, together with Aruni Goonetilleke – Head of Corporate Banking of People’s Bank, Palitha Gamage – Executive Vice President / Chief Risk Officer of DFCC and Russel Fonseka – DGM Corporate Banking of BOC, which took place at HNB Towers. “We are proud to play a lead role in financing a project of national priority” expressed Ruwan. “Being a part of a solution to Colombo’s growing issue of solid waste management fits in with the Bank’s role in social and environmentally sustainable solutions.” Ruwan went on to state: “The recovery of energy from waste has become crucially important with Waste to Energy (WtE) power generation, one of the world’s most effective and green modes of managing disposal of garbage. Our business too is evolving in response to this global trend.” Head of Project Financing, Majella Rodrigo acknowledged the cooperation and commitment of all lenders to the syndication in achieving this all important milestone. He noted: “HNB, like so many of our clients, recognizes that addressing environmental challenges is not only a necessity but a compelling economic opportunity. We already have an established presence in environmentally conscious businesses and we are delighted to be able to build on our expertise to help meet the booming demand for green finance. We’re excited to be at the forefront of something so game changing.” Expressing his gratitude on behalf of the promoters of Western Power Company Mr Rajan Britto, Deputy Chairman and Managing Director Aitken Spence PLC appreciated all the lenders for their tireless efforts to achieve the successful financial closure of this transaction. Photo captions: (Above) Colombo Waste to Energy Project – 3D Model View and (below from left) Thushari Ranaweera, Deputy General Manager – Legal / Company Secretary, HNB PLC; Russel Fonseka, Deputy General Manager – Corporate Banking, Bank of Ceylon PLC; Majella Rodrigo, Head of Project Finance, HNB PLC; Aruni Goonetilleke, Head of Corporate Banking, People’s Bank PLC; Ruwan Manatunga, Deputy General Manager, Corporate Banking HNB PLC; Rajan Britto, Deputy Chairman / MD, Aitken Spence PLC; Dr. Rohan Fernando, Director, Aitken Spence PLC; Leel Wickramarachchi, Chief Executive Officer /MD, Western Power Company ( Pvt) Ltd; Nilanthi Sivapragasam, Group Chief Financial Officer, Aitken Spence PLC; Suren Abeysooriya, Director Earthwatts Lanka (Pvt) Ltd, and Palitha Gamage, Executive Vice President / Chief Risk Officer, DFCC Bank PLC

Sri Lanka signs deal with Schlumberger subsidiary for $50 million seismic study

Newcomer Third Space Global awarded Great Place to Work 2018 status

Not Just About Books- it all happens at the new British Council Colombo Library

Real estate ‘hotspots’ in Sri Lanka’s South-West quadrant

Watawala Tea Ceylon Limited celebrates exceptional 2017 at Annual Convention

Firaz Markar to head STAX digital practice

Unilever and Mindshare’s Team Unilever Win Top Global Digital Honors

Sri Lankan shares fall to 5-month closing low; John Keells declines

Global Black Tea output to rise 2.2% in a decade lead by China, Kenya and SL

Merchant Bank of Sri Lanka goes live on Fiserv Signature – Report

Exports touch US $ 1.1 Bn n March 2018, Historical Highest in a Month

CICT salvages storm-ravaged ‘MV Theseus’

Let your dream take flight with Hanseo University

SriLankan Airlines flight times changed on Sunday

Provident Capital, for a Reimagined Sri Lanka

More butter offers from Pelwatte at Arpico Super Centers

Be party-season ready with The Body Shop’s Summer in the City skincare regime

Sri Lanka Red Cross Society Partners with Mobitel for reliable communication solutions

Acer debuts one-of-a-kind Premium Convertible Chromebooks at Global Launch

HNB concludes Syndicated Term Loan of Rs 9.0Bn for Sri Lanka’s first waste to energy plant