Adaderana Biz English | Sri Lanka Business News

The Japanese Grant Aid for Human Resources Development Scholarship (JDS) Programme was introduced in Sri Lanka in 2010 by the Government of Japan in order to provide opportunities to the executive level public sector officials to undergo Master Degree Programmes in prominent universities in Japan. Accordingly, the First Framework (2010-2013) and the Second Framework (2014-2017) of this programme were successfully completed in 2013 and 2017 respectively. The Third Framework (2018–2021) was started in 2018 to continue this programme for further period of four years. After considering the necessity of further career development of JDS fellows, the Government of Japan has agreed to offer scholarship for PhD programmes at most 2 slots per batch. Accordingly, altogether 165 (15 per year) opportunities for Master Degree Programmes and 06 opportunities for PhD programmes have been provided under this scholarship programme. The selection process of the Third batch of the Third Framework has already been completed and the selected officials are scheduled to commence their studies in September 2020. In order to facilitate these officials, the Government of Japan has agreed to offer a grant assistance of Japanese Yen 269 million (approximately Rs. 457 million) to Sri Lanka in 2020. The Government of Sri Lanka expects that the public officers who will be benefited under this programme will contribute to the social and economic development of the country in a productive manner with self–confidence and also contribute to strengthen the existing bilateral relationship between two countries Two Exchange of Notes between the two Governments and Grant Agreements between the Government of the Democratic Socialist Republic of Sri Lanka and the JICA for the implementation of the Human Resources Development Scholarship Programme were signed on 13^th July 2020 at the Ministry of Finance, Economic and Policy Development. Relevant documents were signed between Mr. S R Attygalle, Secretary, Ministry of Finance, Economic and Policy Development on behalf of the Government of Sri Lanka, His Excellency Mr. Akira Sugiyama, Ambassador of Japan in Sri Lanka on behalf of the Government of Japan and Mr Fusato Tanaka, Chief Representative of JICA on behalf of the JICA.

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According to J. B. Securities monthly review, total vehicle registrations were 32,123 units in June almost double COVID-19 affected May where the figure was 17,313 and even slightly higher than 31,715 units recorded 12 months ago. “In most categories, there was a dramatic rebound to pre COVID-19 levels, pent up demand, expectations of a stock out of dealer inventory and fears of infection from COVID-19 in public transport hence a preference for private vehicles are all contributing towards the strong demand,” J. B. Securities stated in its latest review. “Finance share on most categories were lower than the normal monthly averages indicative that credit was not the driver of volumes, financial institutions may also be holding back credit due to a deterioration in asset quality and the need to build liquidity buffers.” “Industry sources estimate that there is around 1 month of inventory remaining so the current momentum is expected to continue into July,” it further stated. Total Motor car registrations were 2,021 units in June up from 1,916 units in May and 1,580 units 12 months ago. Brand new motor car registrations were 316 units in June up from 161 units in May and 222 units 12 months ago. Financing share was 51.6% in line with the normal monthly level. Preowned motor car registrations were 1,705 units in June marginally down from 1,755 units in May but up from 1,358 units 12 months ago. Toyota accounted for a majority recording 1,244 units – Vitz 842, Premio 151 followed by Suzuki recording 212 units – Wagon R 74, Alto 77. Small cars accounted for 83.2% of units. Financing share was 48.2% in line with the normal monthly average. Premium branded motor cars recorded 90 units in June up from 61 units in May and 66 units 12 months ago. New cars accounted for 43 units, Mercedez Benz recorded 35 units – E Class 13, C class 9. The pre-owned segment accounted for 47 units, MB recorded 26 units – E class 4, C class 15 followed by BMW recoding 10 units and Audi 11 units. Electric cars recorded a mere 3 units in June like 3 units in May and down from 7 units 12 months ago. SUVs recorded 800 units in June down from a high 902 units in May but up from a mere 289 recorded 12 months ago. Brand new accounted for 289 units, the balance 511 units were preowned. Small crossovers (<1,500cc) accounted for 744 units (93% of units). Toyota leads the pack recording 422 units – Raize 220 units, C HR 171 units followed by Honda with 62 units and Mitsubishi with 48 units. Financing share was 37.5% in line with normal monthly averages but lower than the figure for cars. Hybrids recorded 182 units in June marginally lower than 193 units recorded in May and significantly lower than 340 units recorded 12 months ago, 24 months ago the figure was 3,638 units. Motor cars recorded 159 units – Suzuki accounting for 87 units followed by Toyota with 54 units. SUVs recorded 22 units. Vans recorded 763 units in June significantly higher than the 481 units recorded in May and 480 units recorded 12 months ago. Mini vans (< 1,000cc) accounted for 693 units, the balance 93 units were mid-size vans. Preowned accounted for 758 units, brand new were a mere 5 units. Suzuki dominated the category recording 426 units followed by Nissan with 138 units and Toyota with 98 units. Financing share was 59.9% lower than the normal monthly average of 65%. 3 wheelers recorded 1,098 units in June up from 767 units in May and 821 units 12 months ago. Bajaj accounted for 98% of units, the others have virtually exited the market. Financing share was 51.8% lower than the normal monthly average of closer to 70%. 2 wheelers recorded 25,162 units in June significantly higher than 11,864 units in May and 21,416 units 12 months ago. Brand new recorded 24,772 units, the balance 390 units were preowned. Electric bikes were a mere 35 units. The Scooter category recorded 16,914 units – Honda is the leader accounting for 8,784 units (51.9%) followed by Yamaha with 3,185 units (18.8%) and TVS with 3,097 units (18.3%). The motor bike category recorded 8,248 units – Bajaj retained its leadership position with 2,707 units closely followed by Yamaha with 2,450 units. Financing share was 63.3% lower than the normal monthly average of 75%. Pickup trucks recorded 128 units in June down from 188 units in May but up from 53 units 12 months ago. Brand new units accounted for 89 units, the balance 39 units are preowned. Toyota dominates accounting for 73 units followed by Mitsubishi with 39 units. Financing share was 39.8% in line with the normal monthly average. Mini trucks recorded 91 units in June down from 109 units in May and 99 units 12 months ago. Brand new accounted for 71 units, the balance 20 units were preowned. Tata dominated the segment with a 73% share via the Ace model (Dimo batta). Finance share was 69% in line with the normal monthly average. Light trucks recorded 252 units in June up from 180 units in May and 156 units 12 months ago. Brand new units were 218, the balance 34 units were preowned. Mahindra dominates the segment accounting for 191 units. Financing share at 77.4% was marginally below the normal monthly average of 84%. Medium trucks recorded 293 units in June significantly higher than 98 units recorded in May and 168 units 12 months ago. Brand new accounted for 123 units, the balance 170 units were preowned. Isuzu dominates the segment accounting for 199 units. Financing share was 76.1%. Heavy trucks recorded 83 units in June higher than 30 units in May and marginally higher than 81 units 12 months ago. Brand new accounted for 76 units, the balance 7 units are preowned. Tippers accounted for 11 units. Lanka Ashok Leyland claims 68.4% share followed by Tata with 27.6%. Financing share was 73.5% lower than the normal monthly average close to 80%. Buses recorded 28 units in June marginally up from 22 units in May but down from 40 units 12 months ago. Brand new recorded 15 units and preowned 13 units. Financing share was 71.4%. Hand tractors recorded 151 units in June significantly higher than the 56 units recorded in May and higher than 134 units recorded 12 months ago. Financing share was 56.3% in line with the normal monthly average. Large tractors recorded 384 units in June higher than 312 units recorded in May and significantly higher than 182 units recorded 12 months ago. Tafe is the market leader accounting for 171 units followed by Mahindra with 90 units. Financing share was 76.3% lower than the normal monthly average which is above 80%.

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Bloomberg – Caribbean nations are so strapped for cash after the pandemic hammered their tourism industries that they have begun dangling deep discounts on the passports they sell to wealthy foreigners. Many of the islands in the region have long offered “citizenship-by-investment” programs as a way of supplementing the hard currency they pull in from tourism. With their hotels and white-sand beaches now almost entirely empty, this unconventional business has suddenly taken on a much greater importance. St. Kitts and Nevis, a mountainous twin-island nation of 53,000 people, was among the first to slash prices. It’s offering a special deal through the end of the year: A $150,000 contribution to the country’s “Sustainable Growth Fund” will score passports for a family of four. That’s a 23% drop from the regular price of $195,000. Other islands in the region, including Dominica and Antigua and Barbuda are offering even cheaper deals. “In these days of Covid, when tourism is not happening, we have to find ways to create revenue to sustain our economy,” said Les Khan, CEO of St. Kitts and Nevis Citizenship Investment Unit, in a phone interview. St. Lucia, Grenada, Antigua and Barbuda, and Dominica have also put changes in place to lure more clients, Khan said. Some offer citizenship for as little as $100,000. Since St. Kitts helped pioneer the industry in the 1980s, citizenship-by-investment has grown into a multi-billion dollar business, offering wealthy clients an escape from the travel restrictions on their home countries’ passports and helping them plan for emergencies. “Clients look at these citizenship options as volatility management or risk management tools,” said Paddy Blewer, director of the U.K. office of Henley & Partners, a London-based consultancy that provides advice on citizenship and residencies. The fallout from Covid has highlighted the value of a second passport, he said, as governments in Europe and elsewhere imposed restrictions on people who can normally travel without a visa, such as U.S. citizens.

Chinese Clients

During the pandemic, Khan’s unit has seen an increase in interest from clients in China and the Middle East, he said. The office does not release statistics. Its passport offers visa-free travel to more than 100 countries, including the U.K. and Italy. Citizenship can also be acquired via an investment in real estate. The second-passport industry has come under fire from U.S. authorities. The State Department last year criticized Dominica for “lax” due diligence in approving applications. In 2014, the U.S. Treasury urged St. Kitts to tighten its vetting process after Iranian nationals allegedly used a passport from the island to evade U.S. sanctions. Khan said the government takes a strict approach to the process, adding that clients from Iran and Afghanistan are currently not eligible.

Zero-Interest Bonds

St. Lucia offers would-be citizens the option of buying five-year, non-interest bearing bonds. In May, it cut the required investment by half, to $250,000 for an individual or $300,000 for a family of four. The deal on these “Covid-19 Relief” bonds expires at year’s end. Since it launched its program in 2015, the nation of 182,000 has given passports to about 700 people, said Nestor Alfred, the CEO of the St. Lucia Citizenship by Investment Program. The program “provides a wonderful avenue for all those persons who have not had the possibility to participate in this big wide world because of their passport,” he said in a phone interview. Antigua & Barbuda offers citizenship for a family of four in exchange for a $100,000 donation to its development fund. The government recently cut the price for adding additional children. The government of Barbados has floated the idea of a ‘Welcome Stamp’ to give people working remotely the option of doing it from the island for up to a year. People who acquire Caribbean citizenship are usually not looking to leave their homes, Blewer said. That’s a big difference with E.U. nations such as Malta and Cyprus where people generally want residency and the investment required is much greater, he said. The industry has become increasingly competitive in recent years as more governments started selling citizenship, said Beatrice Gatti, of CS Global Partners, which helps clients navigate the citizenship programs. “In the past there has been a tendency toward lowering prices, but the current cuts seem to be temporary and Covid-19 related,” she said.

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The compensation payments to the depositors of The Finance Company PLC under the SLDILSS subject to a maximum amount of Rs.600,000 per depositor was commenced on 07.06.2020 through 63 branches of the People’s Bank island-wide. The funds required for making compensations to approximately 147,000 depositors whose eligibility has been confirmed by The Finance Company PLC have already been allocated from the SLDILSS. Accordingly, 19,279 depositors have obtained their compensation payments from the Peoples’ Bank as of 12.07.2020 and Rs. 5,175,336,249.68 (approximately Rs.5.175 billion) has been paid to such depositors. However, it is observed that a considerable number of depositors have not yet been obtained their compensation payments. Therefore, the Central Bank of Sri Lanka hereby informs all the depositors whose eligibility has been confirmed by The Finance Company PLC, who have not yet collected their compensations to obtain the said payments from the People’s Bank. Further information in this regard may be obtained from the following telephone numbers. People’s Bank: 0112-481594, 0112-481320, 0112-481617, 0112-481703 Central Bank of Sri Lanka: 112-398 788, 112-477 261

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Unilever Sri Lanka’s e-commerce platform, ‘UStore,’ has been instrumental in providing consumers with access to much needed hygiene products and other essential items, enabling direct sales of its entire portfolio. Accessible at www.ustore.lk, the platform features Unilever products across all its categories, which will be delivered safely and efficiently through its logistics partner. UStore is virtually connected to ensure that the availability of products displayed on the website are updated real-time, for the convenience of its customers. A wide range of discounted products and bundle offers are also available to consumers, easing the financial burden inherent to present times. Given the importance of having access to vital hygiene and sanitization products and with online ordering being preferred under the current circumstances, the portal has been optimized to handle over 100,000 visitors at once, to ensure a seamless purchase experience. Products can be purchased via credit card, debit card or cash on delivery and will be delivered within 24 – 48 hours. Aruna Mawilmada – Customer Development Director, Unilever Sri Lanka said, “This is yet another initiative from us to support the country in its time of need, by allowing people to purchase essential items online and have it delivered to their homes. All products are packaged under strict hygienic conditions and will be delivered safely and responsibly. While our products continue to be available at all our other merchant and partner outlets, UStore will facilitate consumers who prefer to buy their household needs online.” Image Caption: A consumer receiving a delivery of Unilever Sri Lanka products ordered via the www.ustore.lk website.

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The Colombo Stock market ended on a negative note today (13), as fears of a second coronavirus wave sent stocks plummeting. In equities, Colombo’s All Share Price Index (ASPI) fell 112.86 points or 2.26% to close at 4,879.76 and S&P SL20 index of more liquid stocks fell 3.18% or 68.09 points to close 2,072.10. Market turnover was Rs. 1.34 billion. The market was halted for 30 minutes from 11.02 am to 11.32 am this morning (13) as S&P SL20 index dropped by 5% during the trading session from the previous close. Meanwhile, Last Friday ( 10) the benchmark All Share Price Index (ASPI) fell by 97.79 points.

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Huawei, the innovative smartphone manufacturer, recently marked its footprint in the laptop arena with the launch of Huawei MateBook D15 and Matebook 13. Both the laptops are not just aesthetically designed showpieces; they offer many more to admire including the innovative features that optimize productivity and efficiency. Features like Huawei share and multi-screen collaboration make them productivity power houses and devices that conceive the smart office concept. Huawei MateBook D 15 has a stunning metallic finish with thin bezels and an 87% screen to body ratio. It weighs only 1.62kg including the HDD and its thickness is 16.95mm making it a highly portable and lite device. MateBook D 15 comes with 15.6 inches full view screen which is a full HD IPS panel and its color temperature controller feature includes an eye comfort mode which is ideal for heavy usage. The laptop is powered with an advanced AMD Ryzen 5 3500U processor which accelerates and enhances performance. An incredibly powerful device, Huawei MateBook 13 will light up Huawei’s laptop range with its innovative features, adding more versatility to professional tasks. The 13-inch ultra slim laptop comes with a 88% screen-to-body-ratio bringing to life an immersive viewing experience. Both laptops support Huawei’s unique multi-screen collaboration feature which is designed to enhance the user experience of Huawei PC devices. It allows users to mirror the smartphone screen on the laptop making it easier to focus on work at hand without being disturbed by smartphone notifications and be in the comfort of using a single device with its capabilities such as drag and drop files between the two devices. ‘’Huawei MateBook D15 and Matebook 13 will be the biggest surprises in our laptop segment as they are inclusive of all the state of the art specifications needed to improve productivity. Whether working from home or at the workplace, the innovative features of these laptops will always provide a lifeline to the demanding work schedules. These innovative features not only assist in the professional life, they are also useful when travelling, staying connected with loved ones and spending time with friends’’ said Peter Liu, Country Head of Huawei Devices, Sri Lanka. Multi-screen collaboration feature lets you answer calls or reply to messages from the laptop screen when you are concentrating on an important task. You don’t need to pick up the smartphone to answer or make calls or text message; you can just concentrate on your office tasks while calls and text messages will display on the laptop screen. Multi-screen collaboration also provides the luxury of navigating the smartphone on a larger screen. The virtual screen allows you to use the mouse to interact with apps and typing is much convenient with the laptop keyboard. Now you can drag and drop files between two devices from the same screen which literally speeds up your tasks at hand. With multi-screen collaboration, you can seamlessly copy and paste text between your laptop and the smartphone which is effective when using notes apps and emails. It also allows you to instantly organize and save all the photos, videos, audio files and other documents in the laptop, so that you can access them from the laptop which is much more comfortable. Most importantly, files being automatically saved in two devices, takes away the worries of losing the files in one device. Huawei MateBook D15 is priced at LKR. 149999 and the new Matebook 13 comes with Intel and AMD versions and Huawei Matebook 13 Intel will be available at Rs. 224,999 while Huawei MateBook 13 AMD is priced at Rs. 179,999. These laptops are now available through all singer outlets, authorized resellers and is available to purchase online via Daraz.lk

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Scientifically proven to be effective against COVID 19 Velona, a leading brand in the hygiene and clothing segment in Sri Lanka, recently introduced Velona Protect Viroblock mask, which is a reusable mask scientifically proven to be effective against COVID 19. Viroblock mask comes with an innovative design, ensuring fresh airflow through two layers of kill-trap-kill technology and offers maximum protection and comfort to the wearer as well as safety for others in close contact. Viroblock mask is manufactured with HeiQ Viroblock technology, which is the first in the world to be scientifically proven to reduce 99.99% of human coronavirus SARS-CoV-2, the virus that causes COVID 19, along with other enveloped viruses and bacteria. According to the tests conducted by Bureau Veritas, the Velona Viroblock mask ensures a bacterial filtration efficiency (BFE) of 98.3%, while other tests show that Viroblock technology reduces droplet penetration to <1 as compared to a N95 mask which still passes >23. While the breathability requirement for masks is Pa/cm2 = <40, the Velona Viroblock mask surpasses this requirement by two times with a breathability of <20 Pa/cm2. In addition, this mask does not contain any harmful chemical such as formaldehyde or any other heavy metal such as lead, cadmium etc., that adversely affect human health. The Viroblock mask annihilates viruses in three steps namely Capture, Destroy and Repeat. As the first step, the silver technology in the Viroblock treatment attracts the oppositely charged viruses and binds them permanently to their inherent Sulphur groups. Secondly, the vesicle technology then helps to deplete the viral membrane of its cholesterol content in minutes, thereby allowing the silver to destroy the virus rapidly. Thirdly, once microbes such as viruses & bacteria have been destroyed, they have no charge left and the harmless remnants either fall off or can be washed off. The space they previously occupied is freed up, allowing this process to repeat as new microbes attach onto the fabric surface. “We are extremely proud to present the Viroblock mask, which is manufactured with the best possible technology focusing on maximum protection and comfort. This mask is tested over and over again for safety, sustainability and environment and is manufactured with a number of regulatory compliances. It can be worn for a long duration and it does not cause any harm to the skin or body.” shared Dr. Gehan De Soysa, Chairman – Threadworks (Pvt.) Ltd. Basic textile masks are poor in terms of air filtration and on the other hand, high filtration masks like N95 can be quite uncomfortable to wear for extended periods. It requires users to constantly touch the mask and face, adjust it or even remove the mask several times, thereby, making it counterproductive. Velona Protect Viroblock mask is the ideal alternative, which provides high breathability and high filtration, but most importantly traps and kills viruses and bacteria, which are active on the fabric surface, thereby eliminating retransmission. Velona Protect mask contains two trap & kill layers treated with Swiss Viroblock Anti-Micorobial technology and comes with a soft elasticated ear loop. The users are advised to gently hand wash the mask in cold water without using powerful detergents. The Viroblock technology remains fully effective up to 15 washes, which enables users to re-use them for several days which is economically beneficial as well. The regulatory compliances associated with Viroblock masks are EU BPR and EU REACH, and the main active ingredient is registered with US TSCA and US EPA. Viroblock is also OEKOTEX® certified, ZDHC and bluesign® homologized & INCI cosmetic grade certified. Velona Viroblock mask is fully manufactured in Sri Lanka and is proven conducive for usage by number of tests and is certified as cosmetic grade and sustainable as all its ingredients are cosmetic grade, bio-based and recycled.

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Cargo Boat Development Company PLC (CBD) – an associate company of the Renuka Hotels Group – has completed the refurbishment of its landmark building in Fort. The 38-year-old edifice underwent a Rs.609 million renovation over a period of one and a half years, and is now ready for occupancy by companies looking for contemporary office space in the heart of Colombo’s business district at a very reasonable rent. The newly-renovated CBD Business Centre holds its prime Fort address at 41 Janadhipathi Mawatha, Colombo 1; located right opposite the Central Bank and is within walking distance of the World Trade Center. The building notably offers its residents the exclusive advantage of access through both Hospital Street and Janadhipathi Mawatha, with panoramic views overlooking Colombo city, its harbor, Port City, and the ocean. This commercial property is also within close proximity to a number of prominent commercial and state enterprises, major roads, public transport services, restaurants, banks, and other conveniences. Tenants looking for a prominent workplace environment stand to benefit greatly from this central location and accessibility. The building houses a total of 54,400 sq. ft. of rentable, modern office space spread over 11 floors. Every 5,700 sq. ft. of office floor can be subdivided into two separate office spaces of 2,800 sq. ft, with each half office equipped with three sets of sanitary facilities and a pantry area. The rent is currently being offered at special introductory rates of Rs.195 per sq. ft (+ taxes) for office floors 1 to 9, and Rs.220 per sq. ft (+ taxes) for ground floor. In addition to new masonry and electrical & plumbing infrastructure throughout the entire building, each floor has undergone significant renovation work and now boasts state-of-the-art and energy efficient central air conditioning and LED lighting systems, with separate electricity, water, and BTU meters for each office. Interior and common area renovations include a refurbished entrance lobby with reception, newly-installed service and passenger elevators, upgraded fire detection and security systems, and a cutting-edge 100% backup generator. What truly distinguishes the property from other commercial spaces in the Fort area however, is its 36-vehicle capacity car park – 12 at the basement level, and 24 at the ground floor. Additional services include an on-site building management service, 24-hour security, CCTV in the common areas, a fire detection and protection system, and provision for cable internet. “We have re-launched the CBD Business Centre with a contemporary new look and an upgraded suite of facilities and services,” said Niruja Thambiayah, Managing Director of CBD. “At a time when potential tenants are becoming increasingly discerning about the office space they take, we wanted to ensure that with this refurbishment, we tick all the boxes with respect to design, sustainability, functionality, and convenience.” The renovation was undertaken by C1 contractor Sanken Construction (Pvt) Ltd, and the design conceptualised by a dedicated team at Avant Garde Urban Design Partnership. CBD specializes in property development and property rentals and has been operating the industry for nearly 40 years. As part of the Renuka Hotels Group, it is led by several of the same executive directors.

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~ Waxing Done Right at BeWaxed Remember the fairy Godmother and how she knew exactly how to make Cinderella ready for the ball? When it comes to something as important and intimate as waxing you need more than a Fairy Godmother. You need a #WaxQueen. When Durga Kenny embarked on creating Sri Lanka’s first dedicated waxing salon, it was all about giving ladies a private, hygienic and customized waxing experience. Seven and a half years down the line, BeWaxed is today the pioneering name in waxing salons not just locally but also making its foray in to other parts of South Asia. The BeWaxed brand itself has grown in to a household one trusted by thousands of women from all walks of life. Reopening after the COVID-19 lockdown, BeWaxed has taken additional precautionary methods to ensure a safe and secure waxing session for all ladies that walk in through their salon doors. “One of the most eager things that our clients were waiting for once curfew was lifted is getting their regular waxing done and we are glad to be able to accommodate all our regulars and many new clients to our salons across the island. We have taken all precautionary methods as stipulated by the Health authorities and ensure that our staff take utmost care of each lady that walks in for their treatments”, said Durga. BeWaxed specializes in safe waxing methods using only internationally acclaimed methods and products. The staff have been with the salon chain from inception and have also been trained extensively and exposed to international and new age waxing methods as well. “Our brand has become so close to women’s lives today that we have even introduced waxing after-care kits, our own after-care product range and a wide array of supplementary services over the years as well. Especially during this time we encourage all our customers to take advantage of our services instead of falling prey to self-care and DIY solutions that have popped up in the market and are doing so much more harm than good”, Durga added. Apart from the waxing services, BeWaxed also specializes in scrubs and packs, specially curated bridal packages, manicures and pedicures. BeWaxed was also the first waxing salon in Sri Lanka to introduce vajacials and booty facials back in 2019 and these services have become increasingly popular with the ladies as well. BeWaxed will also open its 8^th and latest salon in the historic coastal town of Galle where waxing is essential for spending quality time taking in the sun and sea of the South. This will be the 07^th branch in Sri Lanka. Last year BeWaxed opened its first franchised branch in the Maldives and hopes to open the second in India once the pandemic subsides. For more information and to make your appointments please contact Nawala on 0777 909978 or 0113 355804, Colombo 03 on 0764 616677, Colombo 07 on 0769 710777, Kandy on 0769 016677, Negombo on 0777909978 or 0762789977, One Galle Face on 0761 169977, Battaramulla on 0777 279588 or for VIP services on 0777 909978.

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Committed to driving digital inclusivity, mCash, Sri Lanka’s pioneering mobile financial solution conceptualized by the National Mobile Service Provider, Mobitel, has consistently offered customers a host of financial solutions through the mobile. Demonstrating its industry leadership, Mobitel is the first telco to launch LankaQR (Quick Response) Code through its state-of-the-art Mobile Money Platform, mCash, in response to the standard for local currency payments guideline introduced by the Central Bank of Sri Lanka. This is a testimonial to Mobitel’s continuous commitment to pioneer greater convenience and innovation to the market with Digital Financial Services. LankaQR codes issued by mCash accepts payments through LankaPay, Visa, Mastercard and very soon UnionPay, Alipay and WeChat Pay, making it one of the fully-fledged LankaQRs to be issued to the market accepting every possible payment option in Sri Lanka ensuring QR Codes are fully interoperable with other payment applications of Banks and Fin-techs as per LankaQR standards. This brings amazing benefits to all Sri Lankans using any Payment App either of a Bank or a Fin-tech being able to fully utilize the mCash Merchant network spread across the length and the breadth of the country from small corner shops to large super market chains for all lifestyle needs. Through this initiative, it will further enable all mCash customers to scan any LankaQR in the market issued by any Bank or Fin-tech to make payments through the mCash App enabling access to thousands of non-mCash merchants island-wide. Supporting bank to issue LankaQR by mCash to the market is Commercial Bank of Ceylon PLC. Commercial Bank was the first Bank to have launched LankaQR with LankaPay, Visa and Mastercard to the market in May 2019, it is indeed a privilege for mCash to have partnered with Commercial Bank to further increase the market footprint of LankaQR by utilizing the competencies in this domain of business. As Sri Lanka’s Biggest Financial Services Retail Network, mCash is forging partnerships with strategic partners to widen its reach to transform the way Sri Lanka conducts its financial transactions. The innovative mobile money platform mCash was recognized recently as one of the Top 10 E-Commerce Brands for 2020 by Brand Finance and LMD, and received accolades for its innovation and convenience such as Gold Award for Online Brand Category at prestigious SLIM Brand Excellence 2019 and being awarded the ‘Most Popular Electronic Payment Product’ – Silver Award, in the FinTech category, at LankaPay Technnovation Awards 2019, Sri Lanka’s first and the only annual payment technology innovation awards ceremony. The mCash Mobile App has also further made mCash transactions more user-friendly whereby customers could download it from the Apple App Store and Google Play Store.

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Allianz Insurance Lanka Limited (Allianz Lanka) joined hands with Associated Motorways Ltd. (AMW) to simplify the claims process for policyholders with vehicles sold and serviced by AMW. The insurer entered into a Service Level Agreement with AMW in this regard, recently. Allianz Lanka policyholders will now be able to inform the insurer and take their vehicles to AMW Body and Paint Repair centres around the island, in the unfortunate event of an accident. The service locations covered under this agreement include AMW Pitstop centres in Anuradhapura, Attidiya, Kandy, Matara and Negombo and AMW body shops in Kithulwatte, Peliyagoda and Rajagiriya. AMW representatives will work directly with Allianz Lanka on getting the repair estimates approved and processing the payments, without policyholders having to get involved. With the entire process being streamlined, AMW will be able to do the repairs and hand over the vehicle more quickly. This is applicable to all Suzuki, Nissan, Datsun and Renault cars, cabs (utility vehicles), SUVs and vans with a motor insurance cover from Allianz Lanka. Simplifying the entire claims process, the partnership is set to deliver greater convenience to policyholders. Allianz Lanka and AMW will also be offering discounts on spare parts and accessories as well as a host of other benefits across the AMW Body and Paint Repair network, island wide. “At Allianz, we have always strived to make the entire claims process simpler for our policyholders. In line with this, we are delighted to partner with AMW on accident repairs,” said Gany Subramaniam, Chief Executive Officer, Allianz Insurance Lanka Limited. “Policyholders can now simply inform our teams and take their vehicles to AMW in the unfortunate event of an accident. We will liaise directly with AMW on clearing the repair estimates and processing the payments. We remain committed to standing by our policyholders during their hour of need and will continue to work on offering them greater value and convenience.” “We are excited to join hands with Allianz Lanka on simplifying insurance claims for accident repairs,” said Yohann de Zoysa, Director-Passenger Vehicles Associated Motorways Ltd. (AMW). “Besides bringing some of the world’s most sought after automobile brands to Sri Lanka, AMW has always been committed to offering world-class service. Our network of AMW Body and Paint Repair centres around the country are manned by experienced technicians armed with the latest tools and technologies.” AMW’s team of highly trained and qualified technical staff are geared with the latest tools and equipment to deliver world class light, medium and heavy accident repair services. They use the latest dent pullers, spot and MIG welding equipment and body aligning jigs that are in line with manufacturers’ specifications to carry out body repair work. AMW also has dedicated paint booths and drying facilities and in-house colour mixing and matching capabilities that use high quality paints to ensure immaculate paint finishes. Photo caption: (From Left): Nihal Ranasinghe, Senior Consultant – BP Operation, AMW; Jubert Montorio, General Manager – After Sales, AMW; Yohann de Zoysa, Director-Passenger Vehicles, AMW; Mangala Bandara, Chief Marketing Officer, Allianz Lanka; Nalinda Piyadasa, Head of Motor Claims, Allianz Lanka; Charinda Fernando, Head of Provider Management, Allianz Lanka and Niroshan Fernando, Head of Parts Operation, AMW

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Facilitates over 70+ merchants to join the plug-and-play e-commerce revolution
Partners include: VOC Café, Pot Biriyani, Perera & Sons, Green Cabin, Sizzle
Updated with inventory management, streamlined payments, payment card tokenization

Surging consumer demand for online retail in a post-COVID Sri Lanka has led to a rapid increase in enterprises signing on with HNB AppiGo, a revolutionary platform that facilitates businesses with end-to-end e-commerce capabilities. Launching with an initial 15 retail partners during the height of the COVID lockdown in mid-April, AppiGo has since gathered rapid momentum, with over 70+ merchants having come on-board to establish personalised e-commerce enabled websites. “Over the past three months, Sri Lanka’s e-commerce landscape has witnessed unprecedented transformation and growth. With most of us having been restricted to our homes during the lockdown, many businesses were thrown into turmoil. However this volatility also created space for our most enterprising customers to meet this major surge in online retail opportunities head-on. “While we had commenced development of the AppiGo platform long before the threat of COVID had emerged, we expedited its development and roll out in response to the pandemic. Our goal was to provide the most cost-effective model possible that would essentially serve as a comprehensive, plug- and-play online retail solution that would be scalable for enterprises of any size. The outstanding response that we have had from the merchants who have already come on-board is a powerful validation of these goals,” HNB Deputy General Manager – Retail and SME Banking, Sanjay Wijemanne stated. Developed in partnership with renowned software development specialists, hSenid, HNB AppiGo is designed to ensure that with just a few clicks, any business can set-up shop online – including personalised websites capable of capturing and fulfilling customer orders, and accepting online payments in addition to back-end systems for tracking delivery, and even establishing customer loyalty programmes. “We are very happy to have launched AppiGo in Sri Lanka to help Businesses go online and have their own Web-store. AppiGo is very unique as it empowers businesses to achieve more by directly engaging with their customers on a one-on-one basis,” hSenid Group of Companies Founder and Chairman, Dinesh Saparamadu said. The bank has also taken measures to ensure that any merchant can register themselves to use the platform with complete ease. Any merchant seeking to use AppiGo must submit basic documentation online. Once approved, the merchant can immediately begin customising their web portal with their logo, brand colours, product and price lists, and start capturing and fulfilling customer orders. The entire web customisation process is highly streamlined, and can be completed in just 15 minutes while the entire merchant web page is optimised to be adaptive and responsive on all devices. This enables merchants to start capturing and fulfilling customer orders securely and systematically while receiving payments through HNB. The entire registration process and use of the platform itself is totally free of charge – with only a nominal transaction fee being levied. Notably, the system is designed to be able to integrate with any merchant’s existing delivery services, while those who have not established delivery can also access third-party delivery services through AppiGo at an additional cost. With 252 customer centres across the country, HNB is one of Sri Lanka’s largest, most technologically innovative banks having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. Over the recent past, the bank has continuously won prestigious accolades including being declared Best Retail Bank in Sri Lanka by the Asian Banker Magazine, in addition to ranking among the Banker Magazine Global Top 1,000. Locally, HNB leads the Business Today Top 10 rankings and also claimed seven awards at the Best Corporate Citizen Sustainability Awards 2019. The first Sri Lankan bank to obtain an international credit rating, HNB was assigned a rating of B1 by Moody’s Investors Service, and a national long term rating of AA+ (lka) by Fitch Ratings (Lanka) Ltd. Photo caption: (From Left) HNB Lead – Merchant Services & Digital Pay Products, Nawaf Munaver; HNB Deputy General Manager- Retail and SME Banking, Sanjay Wijemanne; hSenid Group of Companies Founder and Chairman, Dinesh Saparamadu and hSenid Manager-Systems Engineering Support, Manuja Jayamanne

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Amana Bank opened its 32^nd branch in Matale extending its unique non-interest based participatory Banking model to the people of Matale. Located at 392, Main Street (Trincomalee Street) Matale, this serves to be the Bank’s first branch in the Matale District. This branch will act as an addition to the network further expanding the Bank’s reach. The branch, while offering a full spectrum of Retail and SME banking products, will also avail the Bank’s award winning Gold Certificate financing solution, which was introduced as an alternative for conventional pawning. Customers will also benefit from the 24 hour Self Banking Zone for Cash Deposits, Cash Withdrawals and Cheque Deposits. Commenting on the new branch, the Bank’s Chief Executive officer Mohamed Azmeer said, “We are delighted to step foot at Matale to facilitate citizens and businesses of this locality to experience our unique way of Banking keeping true to our mission of Enabling Growth and Enriching Lives of our customers”. Amana Bank is the country’s first and only Licensed Commercial Bank to operate in complete harmony with the globally growing non-interest based people friendly banking model. With the mission of Enabling Growth and Enriching Lives, the Bank reaches out to its customers through a growing network of branches and Self Banking Centres spread across the country while having access to 4500+ ATMS for withdrawals and 700+ Pay&Go Kiosks for real time deposits. Customer can also benefit from an array of customer conveniences such as Internet & Mobile Banking, 24×7 Cash Deposit Machines and Banking Units Exclusively for Ladies. Amana Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah based IsDB Group being the principal shareholder having a 29.97% shareholding of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. In June 2020 Fitch Ratings Sri Lanka declared an upward revision of the National Long Term Rating of Amãna Bank to BB+(lka) with a Stable Outlook. Amãna Bank is a standalone entity which does not have any subsidiaries, associates or affiliated institutions, other than the ‘OrphanCare’ Trust. Photo caption: Amãna Bank CEO Mohamed Azmeer along with the Bank’s Management Committee members, distinguished customers and Branch Manager Ifham Inthisar opening the Matale Branch

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Sri Lanka Telecom PLC and SLT Mobitel together with Manusath Derana are currently carrying out SMILE WITHIN: the one million masks donation and awareness campaign that helps to make Sri Lanka a much safer place while returning to normalcy. This program is implemented as a public service in response to the COVID 19 pandemic following the recommendation of the World Health Organization to wear masks. The campaign started in Colombo and continued in public places around the country including the Northern and Eastern provinces.

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According to the latest external trade data released by the Central Bank, country’s trade deficit narrowed in May 2020 as imports fell more than the decline in exports. The external sector showed signs of stabilisation, with the removal of most lockdown measures in the second week of May 2020. The impact of restrictions on non-essential imports was observed in May with a notable reduction in merchandise imports. Meanwhile, merchandise exports, which dropped significantly in April, rebounded more than expected during the month. The deficit in the trade account narrowed by US $ 416 million in May 2020 to US $ 407 million, from $ dollars 823 million in May 2019, as the decline in imports exceeded the decline in exports. Also, on a cumulative basis, the trade deficit narrowed by US $ 180 million to US $ 3,100 million during the first five months of 2020 from US$ 3,281 million in the corresponding period of 2019. Meanwhile, terms of trade, i.e., the ratio of the price of exports to the price of imports, improved by 20.6 per cent (year-on-year) in May 2020 with prices of exports having increased while prices of imports declining. Exports Earnings from merchandise exports rebounded in May 2020 to US dollars 587 million, with the export sector gradually resuming activities following the relaxation of lockdown measures and the recovery of both domestic and global supply and demand chains to some extent. Earnings in May 2020 were more than twice the value recorded in April 2020. However, in comparison to May 2019, earnings from merchandise exports declined significantly by 39.0 per cent. Earnings from the three major export sectors declined on a year-on-year basis, with industrial exports declining the most and agricultural and mineral exports declining at a slower pace. Major exports such as textiles and garments, rubber products, petroleum products, food, beverages and tobacco declined in May 2020, though earnings from these sectors recovered to about one half of the monthly average value reported in 2019. However, led by a higher demand for personal protective equipment (PPE) such as face masks, protective suits, surgical gloves, etc., earnings from exports of other made up articles (categorised under textiles and garments) and surgical and other gloves (categorised under rubber products) grew significantly. Meanwhile, earnings from agricultural exports declined, led by lower volumes of tea exports due to lower domestic production, despite higher average export prices for tea recorded in the international market. Earnings from coconut exports declined, led by lower volumes of coconut kernel products, though exports of non-kernel products increased. Exports of minor agricultural products improved in May 2020 mainly led by the export of arecanuts. The export volume index declined by 46.8 per cent while the unit value index improved by 14.8 per cent in May 2020, indicating that the decline in exports was driven entirely by lower volumes, compared to May 2019. Imports Expenditure on merchandise imports declined notably by 44.3 per cent, on a year-onyear basis, to US dollars 994 million in May 2020, recording a monthly expenditure of less than US dollars 1 billion for the first time since March 2010. Expenditure on all major import sectors; consumer, intermediate and investment goods, declined in May 2020. This reduction was mainly attributable to the measures taken by the government and the Central Bank since March 2020 to restrict the importation of selected goods aiming at easing the pressure on the exchange rate and international reserves from the adverse effects created by the pandemic. Driven by lower expenditure on fuel imports, the expenditure on intermediate goods declined the most, followed by investment and consumer goods. The factors that accounted for the decline in expenditure on fuel include the decline in import prices of crude oil and refined petroleum in the international market, and the reduction in import volumes due to the decline in domestic demand for fuel. The average import price of crude oil was US dollars 25.44 per barrel in May 2020, compared to US dollars 74.76 per barrel a year ago. Expenditure on imports of textile and textile articles declined significantly in May 2020, amid global supply chain disruptions as well as low demand prospects for garment exports in the period ahead. Import expenditure on other intermediate goods such as base metals, plastic and articles thereof, all sub categories of investment goods and non-food consumer goods imports declined mainly due to the measures taken by the government and the Central Bank since March 2020 to restrict imports, and the disruptions to global supply chains from the COVID-19 pandemic. Import expenditure on food and beverages also declined, although at a slower pace, led by the decline in seafood, sugar, beverages and fruits that offset the higher imports of essential goods such as vegetables (mainly lentils and red onion), spices (mainly chillies) and dairy products (mainly milk powder). Both the import volume index and the unit value index declined by 41.6 per cent and 4.8 per cent, respectively, in May 2020, indicating that the decrease in imports was a result of both lower volumes and lower prices relative to May 2019.

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No tourist arrivals recorded in May; cumulative earnings for first five months estimated at $ 956 m

Workers’ remittances declined by 23.2% in May, year-on-year, to $ 432 million, the Central Bank said yesterday (13). On a cumulative basis, workers’ remittances recorded a decline of 11.9% to $ 2,407 million during the first five months of 2020, in comparison to the corresponding period of 2019. No tourist arrival was recorded in May with the suspension of all passenger flights and ship movements to Sri Lanka from mid-March due to the outbreak of COVID-19, and cumulative tourist arrivals remained at 507,311 during the first five months of 2020, compared to 945,377 arrivals recorded during the corresponding period in 2019. Accordingly, cumulative earnings from tourism, which are estimated based on tourist arrivals, remained at $ 956 million during the first five months of 2020, recording a drop of 46.3% from the corresponding period of 2019.

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A net outflow of foreign investment amounting to $ 3 million was recorded from the rupee denominated Government securities market in May, resulting in a cumulative net outflow of $ 454 million during the first five months of 2020. The total outstanding exposure of foreign investment in the Government securities market remains significantly low at $ 126 million as at end-May. There were net outflows of $ 36 million from the secondary market of the CSE in May (no primary market inflows were recorded in May), subsequent to the resumption of trading at CSE from 11 May. On a cumulative basis, the CSE recorded a net outflow of $ 64 million in the first five months of 2020. Further, net outflows on account of long-term loans to the Government amounted to $ 313 million in May, mainly due to the repayment of a syndicated loan of $ 333 million.

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Dankotuwa Steam Inhalers are ideal for patients who have nasal congestion, runny nose, ‘sinus’ type headaches, intractable cough and respiratory tract related issues such as chest infections.
Dankotuwa Steam Inhalers can also be used at home
The all new modified product is now available at all Dankotuwa showrooms – located at Guildford Crescent, One Galle Face Mall, Union Place, Kirulapone, Negombo and at Dankotuwa.

Dankotuwa Porcelain PLC, renowned for its luxurious and elegant porcelain recently introduced the all new customized steam inhaler which is said to be ideal for individuals affected by respiratory tract infections. Customers are now able to purchase the product at their convenience from any of the Dankotuwa showrooms – located at Guildford Crescent, One Galle Face Mall, Union Place, Kirulapone, Negombo and at Dankotuwa. Designed and advised by Dr. Charith Nanayakkara, lecturer attached to the Department of Surgery, General Sir John Kotelawala Defense University and who specializes in Neurosurgery, this modified steam inhaler is ideal for individuals affected by any respiratory tract infections. Recently, Dankotuwa Porcelain donated these inhalers to the Ministry of Health, Infectious Disease Hospital(IDH), Neville Fernando Hospital, Homagama Hospital, Kotalawela Defense Hospital and the Sri Lanka Navy in addition to the quarantine centers in Sri Lanka. The product has been widely accepted by the health care sector and is currently been utilized to provide relief for patients affected by respiratory tract infections. Benefits of Steam Inhalation According to Dr. Nanayakkara, steam inhalation is a treatment method that has been used for over thousand years in Ayurveda medicine and Western medicine.

As a tried and tested methodology, steam inhalation is safe for human use and has no side effects of any sort.
Steam inhalation is also used by Physiotherapists when conducting chest physiotherapy and by Nursing officers on a regular routine basis to clear lungs of secretions.
Steam inhalation also works differently from a nebulizer, as it is free from the usage of drugs (if it is just naked hot water steam), merely using heat as the therapeutic agent.
Steam inhalation is a treatment method used for Nasal Congestion, Sinusitis, Runny Nose, ‘Sinus’ type headaches, Intractable cough and Facial steaming in cosmetic field.

How the Dankotuwa Steam Inhaler works

Pour in the boiling hot water into the Dankotuwa Steam Inhaler and inhale through the mouth
One needs to be cautious as hot water and steam can burn. Hence ensure that the hotness of the water is like when one is drinking a hot cup of tea. (hold the palm against the spout on the lid)
For patients with chest infection, steam inhalation is currently prescribed twice a day. However, this frequency can be adjusted according to the requirement
Naked steam is best. Sometimes menthol is used. This is to make steaming more pleasant rather than for significant therapeutic benefit.

Dankotuwa Porcelain PLC, a subsidiary of Ambeon Holdings PLC commenced its commercial operations in 1984. From superior glazing technologies, personalized designs and endless options, the company continues to create timeless and modern collection of porcelain-ware that expresses exclusive dining experience for every occasion. Another important feature of Dankotuwa Porcelain tableware is the fact that it is safe for all aspects of dining, as the raw materials used for white products are Lead (Pb) and Cadmium (Cd) safe and does not contain bone ash. The company has the unparalleled distinction of being the first tableware manufacturer in Sri Lanka to obtain the relevant ISO certification, thus maintaining high quality standards where products can be used in a microwave or a dishwasher.

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Making a significant progress from its preceding ranking, in the 2020 United Nations E-Government Development Index (EGDI), Sri Lanka has advanced its position to the 85^thfrom 94^thin 2018. While this wasn’t the highest position Sri Lanka has achieved over the twenty years of survey period, it can be seen a substantial advancement as country position has been sliding over the last few years. In sub components, Sri Lanka has achieved a Very High Human Capital Index (HCI) with a High Telecommunication Infrastructure Index (TII) and a High Online Services Index (OSI). It is the only South Asian country to make such a balanced achievement. Bangladesh and India have been ranked ‘Middle’ in their Telecommunication Infrastructure, while Pakistan is ranked ‘Low’. The survey identifies Sri Lanka as a Sub-Regional Leader and its position is used to benchmark the rest in South Asian region. “This is a clear indication of Sri Lanka’s success in its journey towards Digital Government.”, said Jayantha De Silva, Chairman Information and Communication Technology Agency (ICTA). “ICTA has recognized Building Digital Government as one of the key pillars in its strategic framework. I am certain with the guidance and fullest backing at the Executive Level we could do far better in the years to come.” he added. ICTA intends to implement over 30 full scale shared solutions and 50 digital services with its government interoperability framework adopted by all state institutions by the year 2025. The 2020 ranking of the 193 UN Member States in terms of digital government – capturing the scope and quality of online services, status of telecommunication infrastructure and existing human capacity – is led by Denmark, the Republic of Korea, and Estonia, followed by Finland, Australia, Sweden, the United Kingdom, New Zealand, the United States of America, the Netherlands, Singapore, Iceland, Norway and Japan. Among the least developed countries, Bhutan, Bangladesh and Cambodia have become prominent in digital government development, advancing from the middle to the high E-Government Development Index (EGDI) group in 2020. The Survey is the only global report that assesses the e-government development status of all United Nations Member States. The assessment measures e-government performance of countries relative to one another, as opposed to being an absolute measurement. It recognizes that each country should decide upon the level and extent of its e-government initiatives in keeping with its own national development priorities and achieving the Sustainable Development Goals (SDGs). While there tends to be a positive correlation between the EGDI ranking and the income level of a country, financial resources are not the only critical factor in e-government development. Often, a strong political will, strategic leadership, and the commitment to expanding the provision of digital services (as measured by the Online Service Index, or OSI) will allow a country to achieve a higher EGDI rank than might otherwise be expected. Although countries around the world are eager to move forward with e-government, many Governments continue to face challenges linked to multiple contextual factors such as resource limitations, a lack of digital infrastructure, and insufficient capacities or capabilities, especially in developing countries and countries in special situations. Some countries face specific obstacles relating to issues such as digital inclusion, data privacy and cybersecurity, says the survey.

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