Pearl Energy (Pvt) Ltd., signed the agreement with the Board of Investment of Sri Lanka to launch ‘Hambantota LNG Hub’ – A floating storage LNG trading facility at the Port of Hambantota, bringing LNG to the doorstep of Sri Lanka, with a primary aim of trading LNG in the region utilizing the strategic location of Hambantota. The LNG Hub will become a landmark infrastructure development for the region paving the way to broader access to natural gas as a primary fuel in South Asia. Commencing commercial operations within 6 months, Pearl Energy will utilise a floating storage unit (FSU) with an initial capacity of 1 million tonnes per annum (MTPA). The company will deploy small LNG Carriers to re distribute LNG to South India & the Maldives providing LNG as a clean and affordable alternative to the industries in these locations. ‘It is our pleasure to embark on this journey of bringing clean energy to the doorstep of Sri Lanka & the region. Taking the ‘early mover’ Advantage we will strive to place Sri Lanka as a future LNG Hub of the world. Factors including the strategic location of Hambantota, Newly established stable government & its investor friendly policies & the fast growing regional demand for LNG Encouraged our investors led by Mr.Omar Siraj of Saudi Arabia to place their confidence on this project despite the global economic downturn caused By Covid-19 pandemic’, said Ms. Tania Siegertsz –  Director, Pearl Energy. ‘Sri Lanka is extremely well equipped to meet the change in dynamics in the global LNG market and consolidate its position as a key player for the future. Though our project is launched targeting regional trade, the fact that a world class LNG hub will soon be within the Port of Hambantota, we are confident that Sri Lanka too will be encouraged to convert its power plants to LNG Thus saving millions of USD whilst also increasing the efficiency & producing more power to the national grid. The Port too could also commence using LNG for bunkering thereby making Hambantota Port & its industrial Zone as a ‘Clean Energy Zone’ of the future, Ms. Tania stated further. Hambantota Port has the geographic advantage of being strategically located nearest to the world’s busiest shipping lane with the added benefit of a deep water coastline. This allows the port to be capable of handling the world’s largest container ships and super tankers making this port an ideal location for the transshipment of goods and natural resources moving across the subcontinent. Hambantota is also integrated into the global development strategy of the Chinese government, the Belt and road initiative (BRI), providing the opportunity for wider regional maritime connectivity. Moreover, this port has the benefit of the vast expanse of land available in the Hambantota District for its expansion and has the potential to emerge as the most favoured International business hub. With the aim of creating an energy hub surrounding the port of Hambantota. The Project of Pearl Energy is poised to take advantage of these and will cater to the region’s thriving manufacturing clusters, providing natural gas to power plants, industrial and commercial customers within a 300 km radius. Pearl Energy’s investment is tipped to pave way for many more projects to follow suit, considering the availability of LNG for development of industries via reliable and affordable access to clean energy. Pearl Energy wishes to work closely with the recently established State Ministry of Solar, Wind & Grid Power Generation Projects Development by the new government in achieving its vision of converting all of Sri Lanka’s power installations to LNG a reality within the very near future.

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Going forward, the Central Bank of Sri Lanka (CBSL) will announce a housing credit program for low and middle-income groups, Central Bank Governor Prof. W. D. Lakshman stated. “While encouraging banks to mobilize deposits at reasonable interest rates to depositors the Central Bank would be looking at priority areas in the economy as indicated in the overall government policy directions to initiate appropriate credit and other programs. Given the widespread benefit to a very large number of people from such scheme we hope to soon begin with an announcement about a housing credit program for low and middle-income groups,” Prof. Lakshman told media whilst addressing the monetary policy meeting in Colombo today (20). Speaking further he also expressed the following: “We have seen the conclusion of the general election which has reconfirmed political stability.  Secondly, the domestic economic activities in Sri Lanka have recovered relatively fast in spite of the bleak economic conditions continuing in our economic partner countries. We have observed greater stability in the external sector indicators. Sovereign bond yields have declined significantly, exports have rebounded, the trade deficit has improved, and the exchange rate has well behaved, retaining the decided condition of stability. The overall positive developments in the external economic conditions head by facilitating measures taken by the Central Bank and the treasury enable us to envisage the year 2020 ending with external reserves stable after paying up all our debt repayment dues this year. Finally, the market lending rates are responding to ease monetary conditions.” “The negatives include the publication of the first-quarter GDP estimates indicating an economic contraction. With a sharper contraction expected in the second quarter, it is essential to have a strong rebound in the second half of the year. The weak global economic conditions likely to continue for some time and this will have a negative impact on the economy and its growth. Although interest rates have declined in general we are yet to see a growth in private sector credit.”    

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Leading insurance solutions experts, Union Assurance unveiled Sisumaga+, a unique protection-based plan specially designed to ensure uninterrupted education from childhood through to university. Sisumaga+ is for parents who wish to make provision for their child’s academic expenses for University or tertiary education, ensuring that the higher education costs are met, even in the unfortunate circumstance of a possible demise of the parent. The new policy was launched at a special ceremony hosted at the Cinnamon Grand Colombo, and graced by a distinguished gathering of dignitaries including Secretary to the Ministry of Education, Prof. Kapila Perera, John Keells Group Chairman, Krishan Balendra, Lanka Impact Investing Network (Private) Ltd Founder and Chairman, Chandula Abeywickrema and, celebrity entrepreneur Bathiya Jayakody. “Education Protection is a relatively new concept in Sri Lanka and Union Assurance is pleased to be a forerunner in establishing Sisumaga+. Through a combination of savings and investment, this plan will provide essential support for children to actively pursue their ambitions for higher education while providing a buffer against the continuing escalation in associated costs. In this way, we are able to guarantee that your children will have the funds they need to grow when they need it the most,” Union Assurance Chief Executive Officer, Jude Gomes stated. Sisumaga+ offers a fund build-up for continuous growth of the education fund, an additional 15% Loyalty Benefit paid upon completion of all due premiums of the policy term, and in the event of a demise of a parent, an immediate payment of 5 times of the basic annual premium and a consistent monthly income to take care of education expenses up to the maturity of the policy. “Especially at a time when Sri Lanka and the entire world is faced with severe economic disruptions, many can expect to face difficulties in establishing savings sufficient to lay a strong financial foundation for their child’s educational aspirations. Given the rising costs of everything from tuition to text books, boarding fees and transport, this can be a source of serious concern for parents and families. Sisumaga+ is a plan that can directly address these concerns effectively,” Gomes added. Particularly given the drastic mismatch in availability of positions in local universities, the cost of higher education overseas, and even the cost of foreign affiliated colleges and private institutions locally have presented real challenges to parents seeking to fund their children’s higher education. All 15 of Sri Lanka’s state universities are only able to admit a maximum of 25,000 students annually, out of around 220,000 who qualify for university entrance at the Advanced Level examinations every year. In 2018, approximately 15,000 Sri Lankan students reportedly sought university education abroad while a significant number enrolled in foreign affiliated colleges and private institutions in the Country. Acknowledging the many children who are lesser privileged and challenged for resources for the continuity of their education during the launch event, Union Assurance also pledged support for SOS Children’s Villages in Nuwara Eliya and Monaragala and also announced the establishment of five scholarships for students of the Ceylon Schools for the Deaf & Blind at the event.

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The Commercial Bank of Ceylon has announced it is partnering with HCL Technologies Sri Lanka, the local arm of the multinational IT giant, to offer Education Loans with low interest rates to the latter’s trainees and employees. The Bank’s special loan scheme will finance the bond fee of the Early Career Training Program (ECTP) offered to new recruits by HCL Technologies and the course fee for subsequent higher education offered via partner universities. The Bank said it will lend to ECTP candidates and provide education loans for higher studies up to Rs 2 million under this programme. “Supporting the advancement of IT education and building the IT knowledge base of Sri Lanka has always been one of the principal areas of emphasis in Commercial Bank’s commitments to the country,” the Bank’s Deputy General Manager – Marketing Mr Hasrath Munasinghe said. “We are delighted to support HCL Technologies from the inception of the company’s Sri Lanka operations because it will provide many opportunities for Sri Lankan IT professionals and students to progress in this sphere with a global giant.” The special loans envisaged under this partnership will be available to Advanced Level qualified candidates, undergraduates, graduates, and software engineers in training and employment at HCL Technologies Lanka (Pvt) Ltd., according to a Memorandum of Understanding (MoU) entered into by the two organisations. Candidates following the ECTP at HCL Technologies who are eligible to apply for Commercial Bank’s special loans are to be absorbed by HCL after they complete training under the agreement. The Bank said students in this segment are entitled for a concessionary loan repayment plan during the training period on the basis that repayment of the loan will begin once they are employed. Headquartered in India, HCL Technologies empowers global enterprises with technology solutions. It offers its services and products through three business units – IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products and Platforms (P&P). The global tech company recently launched operations in Sri Lanka with a plan to create over 1,500 new local employment opportunities for both school leavers and experienced professionals, within the first 18 months of starting its office in Colombo.  A key part of HCL’s business and development strategy in Sri Lanka will be to use the local talent pool of Sri Lanka for global assignments. The first Sri Lankan Bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 10 years consecutively, Commercial Bank is celebrating its 100^th anniversary this year. The Bank, which won more than 50 international and local awards in 2019, operates a network of 268 branches and 873 ATMs in Sri Lanka. Commercial Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.  

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Pushing the boundaries of digital payments to new heights, FriMi, Sri Lanka’s most popular and trusted digital banking solution, is set to infuse a fresh new approach to savings with the launch of their new product, ‘Savings Pots’, a one-of-a-kind savings. One of the first banking products launched in addition to the existing savings account, FriMi is inviting customers to open 3 more additional savings accounts called ‘Savings Pots’ in a matter of a few clicks. The customer can divide their income amongst these pots while earmarking funds for ‘must do’ activities giving them the freedom and flexibility to move funds amongst the accounts. The concept of ‘Savings Pots’ empowers customers to manage money better based on mandatory spending for house rent, utility bills, insurance premium, bills, educational payments etc., while simultaneously keeping money aside for recreation and other important things rather than facing a month-end surprise when the income dwindles. FriMi helps customers save for a rainy day by not allowing any transactions directly through these pots or to have them linked with debit cards. One of the unique features of the product is that is creates one platform for all needs including fund transfers to other bank, sending money via the mobile number, making all utility bill payments, other credit card payments and more from the comfort of their homes. The App also allows users to keep track of all expenses and earnings in a graphically categorized method to manage money effectively. Commenting on the exciting launch, Nazeem Mohamed – Head of FriMi said, “FriMi has revolutionized digital banking in Sri Lanka, in a manner that has liberated customers to make digital payments while on-the-go and to enjoy unprecedented convenience and ease of use. Inspired by the immense trust and adoption of FriMi, we are proud to add further value with a new savings product, ‘Savings Pots’, which is a highly engaging money management product to streamline savings. ‘Savings Pots’ helps customers manage their funds easier while they streamline their income and optimize finances. It is money made easy for our deserving clients. The use of a reliable and trusted digital banking solution like FriMi to power people’s digital lifestyles is indispensable and a must-have!” In addition to the ‘Savings Pots’ FriMi now also offers customers Fixed Deposits for long term savings. FD’s from FriMi offer you even more convenience as you can open one from your phone without having to fill out forms at the bank. With a minimum deposit of Rs. 50,000, a customer can open FD’s for 1, 3, 6, 12, 24, 36, 48 or 60 months, collecting their interest at maturity, monthly or annually and the interest will be credited to the customers FriMi account. Owned and backed by the stability of Nations Trust Bank, FriMi inspires trust when it comes to confidentiality of financial transaction. Today, it is the market leading, fully-fledged Digital Banking experience, Mobile Wallet & Payment System – giving its over 125,000 customers an unparalleled experience. FriMi is also launching Lanka QR, a popular QR code to make transactions ‘tap and go’, easier and contactless. FriMi has become a crucial partner for one and all during the recent pandemic and work from home directive as it helped people make online transactions with ease and convenience while tracking their expenses. FriMi has established its credentials as a premier lifestyle brand that helps users enjoy multiple experiences with ease as it has a strong network of merchants amounting to over 3,500. It is rapidly expanding both its e-commerce and physical merchant network across the country by using its QR and unique API integrated payment capabilities. FriMi also marks dominant presence in the Justpay service on interbank transactions due to its significant market share.

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Backed by over 20 years of experience in providing superior financial and banking services to all Sri Lankans, HNB FINANCE relocates its Puttalam Branch to a more spacious three-storey premises of their own at the address of No 44, Service Road, Puttalam. Complete with ample parking, its offices are open for business transactions from 8.30 am to 5.00 pm during weekdays. HNB FINANCE’s new premises was constructed with the integration of state-of-the-art technology that is eco-friendly and sustainable– a cause the company passionately advocates for. The construction has also placed strong emphasis on efficient energy-saving additions that utilizes renewable energy sources. This development will further strengthen and help continue the stellar customer service and wide financial offering extended by HNB FINANCE, working hand in hand with the numerous businesses and growing customer base in the Puttalam area. Commenting on the institution’s latest initiative HNB FINANCE Managing Director and Chief Executive Officer, Mr. Chaminda Prabhath, “We are delighted to move our Puttalam Branch into our very own spacious new premises right on the heels of HNB FINANCE’s 20^th Anniversary, which will undoubtedly equip us to better serve our growing customer base in this region. We believe that our trusted product portfolio which is backed by over two decades of excellent customer dealings will continue to uplift the living standards of this community relying largely on the agriculture and fisheries industry. By offering a plethora of financial services under one roof, our hope is to further strengthen our customer relationships as we rise to meet their evolving needs and enhance the convenience of our services through digital platforms. My sincere gratitude goes to my board of directors, hard-working staff and loyal clients for being constant supporters in our journey of 20 years.” The branch is serviced by a team of experienced staff members fully geared to offer customers with an efficient, fully-fledged portfolio of exceptional and comprehensive financial services, including gold loans, business loans, personal loans, leasing facilities, hire purchase facilities, fixed deposits as well as savings. Ceremonially opened under the patronage of HNB FINANCE Managing Director and Chief Executive Officer Chaminda Prabhath, the event was graced by the presence of HNB FINANCE Chief Operating Officer Priyalal Arangala and Deputy General Manager – Branch Network Annesley Fernando. Photo Caption: (Right to Left) HNB FINANCE Managing Director and Chief Executive Officer Chaminda Prabhath, Deputy General Manager – Branch Network Annesley Fernando and Chief Operating Officer Priyalal Arangala, opening the new Puttalam Branch.

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Marking the tenth year of honoring inspiring Sri Lankan women, Women in Management (WIM), in collaboration with Women in Work, a partnership between IFC, a member of the World Bank Group, and the government of Australia, today launched the ‘Top 50’ Professional and Career Women Awards 2020. The move marks IFC’s sixth consecutive year in co-hosting the awards which recognizes and celebrates Sri Lankan women who have excelled in their careers, businesses, and everyday life, inspiring others. With over 420 past award winners, representing a wide array of professions such as banking and finance, hospitality, media, legal, logistics and supply chains, the ‘Top 50’ Professional and Career Women Awards,’ demonstrates the significant role women play in bringing about transformational change as employees, entrepreneurs, and business leaders. “The decade of recognizing women leadership in Sri Lanka by WIM has open many closed doors for women as well as corporates to find best talents and it has delivered profitable results to the country economy,” said Dr. Sulochana Segera Founder/Chairperson of WIM. “It’s not about the night of the award that matters, it’s all about finding the hidden success of women and bringing them out to appreciate their silent leadership and also to encourage them to mentor more men and women towards gender equality.” For IFC, gender equality is not only a social and moral imperative, but also makes business sense. Globally, companies are increasingly recognizing that they can gain greater competitive advantage and improve profits by targeting women as employees, entrepreneurs, consumers and business leaders. Increasing the share of women in corporate leadership roles is associated with higher company profits and improved environmental and social outcomes. “We believe recognizing women who have demonstrated success in their chosen career creates a legacy that inspires others,” said Sarah Twigg, Program Manager for Women in Work, IFC. “These awards challenge traditional views of women’s roles as business leaders, and help prompt companies to take action to create more gender equal workplaces.” In IFC’s 50-years of operations in Sri Lanka, WIM has been a longstanding partner. Together, IFC and WIM continue to provide skills-building and training opportunities for women in senior management, middle-management and those entrepreneurs who lead, or work in, micro and small businesses in Sri Lanka. These initiatives, including the ‘Top 50’ Professional and Career Women Awards 2020, are instigated under the IFC-DFAT Women in Work program. “Supporting women to participate the economy and build a sustainable future for their country is very important, particularly in the time of COVID-19. In Sri Lanka, this participation is celebrated through the Professional and Career Women Awards, and we are proud to partner with WIM in highlighting the achievements of Sri Lankan women,” said David Holly, Australian High Commissioner for Sri Lanka. “It is exciting, alongside many high profiled judges, to be part of the Awards judging panel.” The awards, which have expanded globally with presence in Canada and the Maldives, are not only a catalyst for the award winner’s own career or business trajectory, but also encourages many other aspiring women to shatter the glass ceiling, propelling them to reach higher in their chosen field. This year’s panel of judges, chaired by Shiromal Cooray, Chairman & Managing Director of Jetwing Travels, include H.E. David John Holly, High Commissioner of Australia to Sri Lanka, Nadija Tambiah, Executive Vice President of John Keells Group, Dr. Rohantha Athukorala, CEO of Clootrack Sri Lanka/Maldives & Pakistan, Sarah Twigg, Program Manager of Women in Work, Nisthar Casim, Editor of Daily Finance Times, Jayanthi Dharmasena, Managing Director of Hayleys Agriculture Holdings Ltd, Kumara Samarasinghe, Marketing Consultant, Thamari Senanyake, Associate Director Corporate of Regulatory Affairs & Consumer Care Fontera Brands Lanka (Pvt) Ltd, Rohan Maskorala, CEO of Shippers Academy Colombo (Pvt) Ltd. The nominations for the awards are open until 15^th September 2020, and can be made by visiting www.womeninmanagementawards.org.

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Secure and reliable Internet payment gateway provider, WEBXPAY, has enhanced adoption of various fin-tech methods during the lockdown and curfew period, enabling people to make safe and secure online payments. Considering that Sri Lanka has a total internet user base of 10.10 million of which 69% are active internet uses, between the ages of 19-34, this segment of people is making the switch to online payments and WEBXPAY intends to be at the forefront of this digital payments journey in the country. Highlighting just how secure its solutions are, WEBXPAY offers SSL or Secure Sockets Layer protocol for customers and Merchants, which creates a secure connection between a client and the server over which information is sent. This means online payments become much safer than making a physical bank deposit or Cash On Delivery (COD) as it empowers customers to activate the ‘ChargeBack’ option in case of frauds or non-delivery of goods/service by merchants. WEBXPAY has an intricate onboarding process which has an extensive credit review done on every business that is allowed to accept payment online. This is a feed forward control mechanism used to minimize possible disputes within merchants and clients. Once the merchant is onboarded, merchant activities are monitored and based on the guides laid down by the Central Bank of Sri Lanka, local banks and card scheme rules of Visa and MasterCard, the customer data is entered into platforms that are generally certified by Payment Card Industry (PCI) standards. WEBXPAY ensures the highest security protocols are in place to protect customers making online payments. Commenting on the steps taken daily to make a customer’s online payment journey safer, Omar Sahib – CEO / Founder, WEBXPAY, said: “Our Merchants and their clients are at the heart of our business and we take every preauction to ensure their online journey is safe and secure. What makes online transactions safer through WEBXPAY is that in the case of a bank deposit there is less traceability but in digital transactions the transaction details can be traced which will help to resolve a dispute. In a scenario where a client makes the payment on cash on delivery, there will be no traceability on the transaction and the customer will have to raise it up with the merchant. In case of a digital transaction the customer has evidence of the payment and has the right to activate the ChargeBack option with the corresponding bank. The ChargeBack option supports customers in case of unfair billing or fraud as the payment is reversed in a genuine instance.” In such scenario’s WEBXPAY collectively with the corresponding banks support the investigation and assist to provide justice to either parties. WEBXPAY is playing a key role in empowering and enabling today’s merchants to propel their businesses on a bigger digital scale thereby driving e-commerce and c-commerce in Sri Lanka. The company also offers the most number of payment options compared to others in the same space and are the biggest SaaS-based company in Sri Lanka for SMEs. WEBXPAY’s clients range from small-scale merchants to large businesses to which it offers multiple solutions to fit the size and requirements of their businesses via self-service, personalized service or scheduled client site visits. The WEBXPAY team remains supportive and accessible 24 hours and is reaching out to client businesses needing support by extending suspensions of subscriptions while engaging with clients to see how we could help to develop them. WEBXPAY is a success story of Sri Lankan tenacity, climbing up from 100 merchants in the first three months to 1700 merchants in a short span of 4+ years. The Company has during that short time formed partnerships with a number of banks, financial institutions and IT partners to ensure their merchants have the support and increased accessibility for a payment gateway. Image Caption: Omar Sahib – CEO / Founder, WEBXPAY

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Leading integrated global logistics solutions provider, Expolanka Freight (EFL) announced the successful completion of two shipments of general and perishable goods out of Mattala Rajapakse International Airport (MRIA) utilising converted incoming passenger repatriation flights last week. Given the company’s role as the first to move cargo out of MRIA in 2013 and first to start operating during the pandemic, EFL worked in alignment with national objectives to help secure a rapid post-COVID economic resurgence. In the past month, EFL shipped 25 tonnes of general cargo from Colombo to Dubai to markets in the United States and European Union utilising an Emirates repatriation flight on 9 August 2020. Similarly, the company also facilitated the shipment of a further 4 tonnes of perishable fruits and vegetables supplied by YAS Lanka (Pvt) Ltd to Oman on 16 August 2020 via Salaam Air. Notably, domestic road freight between Mattala and BIA was facilitated using EFL’s network of specialised operators for perishable goods and standard fleet for general cargo. “EFL is proud to have been the first and only logistics specialist with the requisite agility, advanced expertise and global network necessary to step up and directly support the Government’s efforts to revitalise cargo operations out of MRIA. These operations send an important signal to markets globally, namely: that despite all challenges, Sri Lanka is opening up for exports. “In achieving this important milestone, we are extremely grateful to the support provided by airport authorities and Customs officials, as well as our international partners for working with speed and agility to ensure we keep the Sri Lankan economy moving efficiently, while ensuring the safe repatriation of our fellow citizens,” EFL Managing Director, Saif Yusoof stated. He further noted that the scaling up of cargo operations at MRIA would have major positive implications for the country’s agriculture sector and related industries, given that the Mattala Airport was situated in close proximity to a major Agriculture Processing Zone, thus providing easy access to global markets for local producers of fruits, vegetables and dairy products. General activity at the MRIA following the outbreak of COVID-19 has been sharply on the rise with over 50 flights involving 2,188 passengers having touched down at the airport in June and July 2020 alone – primarily for the purposes of repatriation and international ship crew changes. EFL (Expolanka Freight) is a leading provider of supply chain solutions and is ranked among the top 30 airfreight forwarders in the world. Founded in 1982, EFL is headquartered in Sri Lanka and recognized as an expert in fashion and tech logistics and in recent times has partnered with leading airlines to provide weekly direct charters to the USA. EFL is a member of Expolanka PLC – a leading conglomerate with interests in Logistics, Leisure and Investments. The company has thrived on overcoming the challenges of operating in limited logistic infrastructure markets, taking its operations to 23 countries, 60+ offices and over 2,300 staff around the world.

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Trade Minister Bandula Gunawardena made his inaugural visit to the Sri Lanka Export Development Board (EDB) recently since assuming office and met the key officials of the institution. During his maiden discussion with the EDB’s top management, the Minister proposed the establishment of a coordination mechanism between the EDB and the new state ministries appointed by the government on various product and industry sectors with the objective of enhancing their export potential. “Sri Lanka’s exports have remained static at US$ 10 to 11 billion mark and thus, it is necessary to adopt an out-of-box mindset to increase the country’s exports with a special emphasis on SMEs”, he noted. He also urged the Board to establish 1000 Export Processing Villages nationwide by incorporating them as limited liability companies with the EDB providing seed capital similar to the model of Dambadeniya Export Development Village which was initiated in the 80’s. He assured to get funds for this initiative from the government. Meanwhile, the Minister pledged to immediately revive the Export Development Council of Ministers which has not met for more than 20 years. The EDB Act 1979 provides for a council of ministers, headed by President, comprising ministers in charge of trade, shipping, industries, agriculture, finance, etc. Gunawardena was optimistic that bringing this abandoned mechanism back into life could resolve the issues faced by the exporter community expeditiously, as it enables high-level, cross-government consideration towards exports. EDB Director General Chitranjali Dissanayake briefed the Minister about the board’s activities, future plans and the progress of the National Export Strategy (2018-22). Addressing the media afterwards, Gunawardena expressed his satisfaction on the recovery of exports, with merchandize exports in July earning US$ 1090.18 million, recording a gain of 11.31% compared to July 2019 amidst unfavourable global market conditions. He attributed this recovery to the pragmatic leadership of President Gotabaya Rajapaksa and the government in terms of managing the COVID-19 situation exceptionally well, enabling the country’s economic activities to return into normalcy. The meeting was attended by the officials of the Trade Ministry, EDB Chairman Prabhash Subasinghe and EDB directors.

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Vision Care, Sri Lanka’s largest eye care provider, has partnered with Colombo Fashion Week (CFW) once again as the “Fashionable Eyewear Partner” for the 2020 edition of the prestigious fashion event that was held across 3 days at the Hilton Colombo and Shangri-La Hotel. Vision Care collaborated with several designers including Emerging Designers Ayesh Wickramarathne, Mikail Hameed, Ranga Senavirathne, Thamoda Geegamage and Joanne Kalumannage on Day 1, as well as established designers LOVI Ceylon, Fouzul Hameed on Day 2 and Amilani Perera, Charini Suriyage and Kamil Hewavitharana on Day 3. Colombo Fashion Week is a developmental project that aims to drive progressive change in every aspect of the fashion industry in Sri Lanka. Since its inception in 2003, CFW has focused on nurturing the next generation of Sri Lankan fashion designers. This year’s Colombo Fashion Week is the 17th edition of the prestigious annual event that has continued to place emphasis of its vision to create a multi-pronged platform that has revived, enhanced and developed the fashion design industry. CFW has created formats that demand transformation across the key pillars that would define a fashion industry. Its mission is “to establish, develop and maintain an efficient fashion eco-system that incubates the best of Sri Lankan fashion design before it is presented to the world.” This year, the “Responsibility in Fashion” program by CFW introduced three responsibility and circularity-based initiatives which are actionable impacts – Garment Enhancement Guarantee, Garment Disposal Plan and Return-After-Use-for-Repurpose. These three impacts take every garment towards achieving Circularity and making every attempt to stop them from ending up in a landfill. Additionally, a first-of-its-kind garment evaluation tool named the Responsible Meter was introduced to evaluate every garment presented at CFW. Harsha Maduranga – General Manager of Vision Care stated, “The Colombo Fashion Week has brought about a revolution in Sri Lanka’s fashion industry and is the most looked forward to event in the Sri Lankan fashion calendar. Vision Care is proud to be a part of this prestigious event as the “Official Eyewear Partner” for the 7th straight year. It gives us the perfect platform to showcase our wide range of world-class eyewear brands to an audience that knows and appreciates the latest fashion trends. We are excited to have had the opportunity to work with a number of very talented emerging as well as established designers who incorporated our eyewear elegantly into their fashion creations.” Vision Care has pioneered the technological revolution in eye care in Sri Lanka with high quality eye surgeon consultation, eye testing, spectacles and sunglasses, contact lenses, hearing aids and hearing testing. It has also pioneered the introduction of the best range of eyewear brands recognised globally to the local market. High quality, high precision contact lenses, optical and ophthalmic products are available at all outlets. Vision Care customers are able to choose from a wide array of top global brands for frames and sunglasses such as Michael Kors, Emporio Armani, Giorgio Armani, Vogue, Ray-Ban, Coach, Boss, Carrera, Polaroid, Bvlgari, Versace, Oakley and many others.  

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G M A de Silva, one of the most trusted jewellers for the consumers in Southern Sri Lanka, will be celebrating its 100th anniversary this year. GMA de Silva (Pvt) Ltd. was Founded in 1920 by late G.M.A de Silva as a trusted gold pawning operation in Ambalanoda. In 1956 the son of the founding chairman Mr. G.M.S de Silva incorporated manufacturing and retail of fine Jewellery into GMA de Silva Jewellers.  Since then GMA’s jewellery brand has stood synonymous with late Mr. G.M.S De Silva who was a prominent personality in Ambalangoda, with social recognition as the Chairman and a member of the Amablangoda Urban Council from 1983 to 2006. His honest advice and personal touch to each piece of jewellery sold along with many years of trust made the difference among the cliental, for selecting their fine gold jewellery from GMA de Silva Jewellers. He was instrumental in his vision to accelerate the business and allowing access of 22kt custom fine jewellery for the consumers who were living in Southern Sri Lanka. “Following the demise of late G M S de Silva, it was my brothers and my personal goal to make sure that the 100 years’ worth of excellence and integrity has been kept intact along with the originality of the product,” added Chavinka Sumanatilleke, Managing Director, who represents the 3rd generation of management of the family-owned company. While celebrating its industry presence for 100 years, the current management understands the trailblazing industry dynamics and its ever growing nature. Since last year the company has undergone a big modernization with new designers etc., while keeping the traditional products alive. October 2018, GMA de Silva Jewellers expanded its wings to come closer to its loyal customers by opening its second branch in Galle, the capital of Southern of Sri Lanka “As we enter our 100th anniversary, we are of the progressive mindset to being able to service our original loyal southern clientele who has moved on to other parts of Sri Lanka as well as other countries such as USA, UK, Italy and Australia.  We will keep expanding to reach our customers specially through modern online platforms keeping our trust and integrity in our products, which has been passed down from the beginning by my late grandfather G.M.A de Silva and father G.M.S. de Silva,” added Mr. Sumanatilleke.

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Velona, a leading brand in the hygiene and clothing segment in Sri Lanka recently introduced the Velona Protect antiviral mask manufactured with HeiQ Viroblock NPJ03 technology which is among the first technologies in the world to be proven effective against SARS-CoV-2 (COVID-19)*. HeiQ Viroblock NPJ03 Antiviral technology is certified as safe and 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*. This reusable mask is designed to impart enhanced protection against viruses and bacteria for the wearer as well as reduces possible transmission via droplets to the people around while it offers the maximum comfort a face mask could provide. Velona Protect Antiviral mask is a proud product of Sri Lanka manufactured with HeiQ Viroblock, a technology using cosmetic grade, bio-based and recycled ingredients which is highly effective, conducive and sustainable. Velona Protect mask is subject to number of tests and according to Bureau Veritas, it ensures a  bacterial filtration efficiency (BFE) of 98.3%. While the breathability requirement for masks is Pa/cm2 = <40, the Velona Protect 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 that adversely affect human health. The Velona Protect mask with HeiQ Viroblock NPJ03 technology actively inhibits viruses and kills bacteria upon contact on the surface. As the first step, the silver technology in the HeiQ 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. “We are happy to introduce Velona Protect mask along with one of the world’s leading antiviral treatments to ensure maximum safety and comfort for the users.  As a brand that always pays heed to customers’ safety and environmental sustainability, Velona has a great track record of hygiene solutions which are tested from renowned institutions and constantly accomplish the necessary regulatory compliances.” shared Dr. Gehan De Soysa, Chairman – Threadworks (Pvt.) Ltd. Most of the masks available in the market are basic textile masks which do not specify their filtration efficiency and high filtration masks like N95 on the other hand can be quite uncomfortable to wear for extended periods. These difficulties require users to constantly touch the mask and face, adjust it or even remove the mask several times, thereby, making it counterproductive. Velona Protect antiviral mask is the ideal alternative, which provides high breathability and high filtration, but most importantly traps and kills viruses and bacteria. Velona Protect Antiviral mask contains two trap and kill layers treated with HeiQ Viroblock NPJ03 technology and comes with a soft elasticated ear loop providing comfort for the wearer. The users are advised to gently hand wash the mask in cold water without using powerful detergents. The HeiQ Viroblock NOJ03 technology remains fully effective up to 15 washes, which enables users to re-use the mask for several days which is economically beneficial as well. The regulatory compliances associated with HeiQ Viroblock NPJ03 technology are EU BPR and EU REACH, and the main active ingredient is registered with US TSCA and US EPA.  HeiQ Viroblock NPJ03 technology is also OEKOTEX® certified, ZDHC and bluesign® homologized and INCI cosmetic grade.

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The Rough T-Shirts brand recently marked the celebration of its 22nd successful year in the T-Shirt and Apparel Industry by furthering their e-commerce presence and market reach, offering customers a 22% discount from 22nd to 30th August on all online purchases. Speaking with Head of Marketing, Rough T-Shirts – Mr Yaseen noted “Whilst thanking our customers for their continued, Rough T-Shirts is now focused on creating a true Life-Style Fashion Brand for its customers and is looking forward to serving the apparel industry and the community with immaculate, international quality clothing in the years to come. Customers still vouch for cutting edge daily-wear designs, alongside little or no colour fading, no peeling and shrinkage, despite the heavy wear and regular washing. This is one of our core strengths, adding value to the brand each and every day, and is a definite testament to the global standards we adhere to”. “Rough” is a pioneer in the apparel industry that has mastered the art of crafting trendy, comfortable, international grade t-shirts manufactured in Sri Lanka, for the global market. Utilising the best quality yarn to manufacture the finest t-shirts for the past 22 years alongside the unparalleled and world-renowned “Bio Wash” fabric finishing process. Rough is an official manufacturer for Amazon Clothing which is sold in over 40 countries and is set to introduce its latest collection of Ladies Wear. Photo Caption: Locally manufactured Rough Apparel

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Seylan Bank partnered Ideal Motors, a fully owned subsidiary of the Ideal Group and the sole Authorized distributor for Mahindra Motor vehicles and motorcycles in Sri Lanka, to provide convenient leasing solutions for consumers looking to purchase Mahindra motor vehicles. Through this partnership, eligible customers who wish to purchase any Mahindra vehicles including motors cars, light trucks, heavy commercial vehicles and passenger vehicles through Seylan Leasing will receive special interest rates and free vehicle registration, warranty of up to 1 year or 50,000 kilometres, special purchase discounts ranging from Rs. 10,000 to Rs. 50,000, special insurance premiums through selected insurance partners, 20% on Apollo tyres and a pre-approved Seylan Credit card. Apart from the above-mentioned benefits, Team Seylan is ready to provide customized leasing structures to suit the consumer’s spending capacity with minimum documentation. Seylan customers now have the opportunity to pay a higher rental or bulk payment during months of higher income and a lesser or regular rental during months of average income. These options are uniquely structured to help SMEs and consumers looking for opportunities to step forward as fresh entrepreneurs, as the nation slowly but steadily returns to normalcy. Seylan Bank, the Bank with a Heart, operates with a vision to offer the ultimate banking experience to its valued customers through cutting-edge technology, innovative products, and best-in-class services. The Bank has a growing clientele of SMEs, Retail and Corporate Customers and has expanded its footprint with 172 branches across the country and an ATM network of 215 units. Seylan Bank has been endorsed as a financially stable organization with performance excellence across the board by Fitch Ratings, with the bank’s national long-term rating revised to ‘A (lka). The bank was ranked second among public listed companies for transparency in corporate reporting by Transparency Global and is now part of the S&P Dow Jones SL 20 Index. These achievements are a testament to Seylan Bank’s financial stability and unwavering dedication to ensuring excellence across all endeavours. For more information on products and services please visit www.seylan.lkIdeal Group initially began operations in Sri Lanka in the Light truck segment and later expanded its range to personal vehicle segment with Mahindra KUV 100 being assembled and rolled out in Sri Lanka. Poised with an unmatched after-sales service and industry-leading expertise, Ideal Group specializes in the assembly, import and distribution of motor vehicles, automotive after-sales services, import and distribution of multi-brand spare parts, finance and Real Estate services through its finance arm, Ideal Finance, logistics and many more services. Mahindra and Ideal partnership has brought over 55% of the market share within the country in a short time span and continues its merry way with a customer-centric approach. Ideal Motors, a fully owned subsidiary of the Ideal Group claims a large footprint across Sri Lanka with its island-wide network of Ideal First Choice workshops, sales showrooms, spare parts dealers and authorized services dealers. For more information on products and services please visit www.idealmotors.lk. Image Caption: (Standing from left to right) Mr. A H M Aziz – SMG, Product & Channel Development- Seylan Bank, Mr. Dilum Amarasinghe – Head of Leasing- Seylan Bank, Mr. Ramesh Jayasekara – Senior Deputy General Manager- Seylan Bank, Mr. Kapila Ariyaratne – Director/Chief Executive Officer – Seylan Bank, Mr.Nalin Welgama – Chairman Ideal Group, Mr. Chaminda Wanigaratne – Director Automotive – Ideal Motors (Pvt) Ltd, Ms.Nimisha Welgama – Director – Legal and Corporate Affairs – Ideal Group, Mr.Dilshan Tennakoon – Head of Sales – Ideal Motors (Pvt) Ltd.    

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Iconic Developments recently signed a Memorandum of Understanding (MoU) with leading bank NDB to widen the scope of financing options for prospective homeowners of the latest luxury living space, the “Iconic Galaxy” on Buthgamuwa Road, Rajagiriya. The multi-faceted partnership is set to offer homeowners special discounts and flexible repayment options, inclusive of special benefits for professionals. At the same time, NDB staff members will also be trained to guide prospective homeowners. The MoU for the partnership was signed at NDB Head Office, Nawam Mawatha, Colombo 02 in the presence of high ranking members of the corporate team from Iconic Developments and NDB. “The COVID-19 pandemic has shown us the importance of creating a home which is self-contained and self-sufficient to ensure peace of mind during such stressful times. Even though the Iconic Galaxy was not created with a pandemic in mind we are delighted to say the wide range of amenities we have put in place and the facilities available have proven to be ideal in catering to the comforts of prospective homeowners at a time in which their needs are evolving. Additionally, the rising cost of real estate in Sri Lanka has made it difficult for many to invest in the home of their dreams and we hope that this partnership will offer many future residents of the “Iconic Galaxy” a convenient path to owning their dream home. Concurrently, we are also delighted to share our first-hand knowledge of the industry with NDB,” Iconic Developments (Pvt) Ltd., Managing Director, Rohan Parikh said. Prospective homeowners will have access to special home loan schemes from NDB, complete with flexible repayment options of 20 years upto the retirement age, customised to their income patterns. Additionally, professionals are entitled to a special discount of 5% when purchasing a home at the Iconic Galaxy. “We are delighted to be working with Iconic Developments to offer our home loan customers the opportunity to invest in luxury, self-contained living spaces in the suburbs of Colombo,” Mr Zeyan Hameed, Assistant Vice President (Personal Financial Solutions & Card Centre) of the NDB said. Obtaining an NDB Home Loan is hassle free and simple especially because the Bank has cleared many projects from well-known developers for customers to choose. The designated sales team member will attend to the customer’s home loan request and will guide them throughout their loan process until the end. NDB will provide legal aid and technical support in accordance with the customer’s requirements. Customers do not have to go through an insurance process since they will receive a blanket cover for insurance of up to 20 million. Customers can also enjoy credit card offers throughout the year for housing and construction products. NDB will promote the internationally-minded and locally inspired apartment complex across its 130 branches scattered across the island. Simultaneously, the Indian luxury apartment builder will train and coordinate with NDB frontline staff to identify and assist customers in search of their dream home. Constructed and designed to the ‘pulse’ and ‘texture’ of Rajagiriya, the Iconic Galaxy imbibes the culture and the aspirations of the people and is on schedule to be completed by end 2021. The first to introduce a flood-proof construction and a rooftop landscape, the Iconic Galaxy will deliver 272 super-luxury, two, three, four and five bed-roomed apartments amidst a plethora of world-class amenities and services to complement the lifestyles of the buyers. Located in the prime of Rajagiriya’s upscale locality, the apartment complex is accessible from two roads and is perched on the trunk route of the Buthgamuwa Road. True to its name, Iconic Galaxy provides a 7-level private club worthy of a 5-star hotel, private guest suites for overnight visitors and on-site conveniences that include a supermarket, business centre, beauty salon and laundromat. NDB, which is the 4th largest listed commercial bank in Sri Lanka, is one of the fastest growing banks, having had a cumulative average growth rate (CAGR) in advances by 21% and in deposits by 25% in the last four years. From its inception, NDB Bank, along with the NDB Group has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy.   Photo Caption – From left: NDB Home Loans Sales Manager, Danushi Siwrathna, NDB Manager- Legal, Nilanthi Dharmadasa, NDB Senior Manager- Consumer Sales, Christopher Fleming, NDB Chief Manager- Consumer Sales, Sameera Senarath, NDB Assistant Vice President- Personal Financial Solutions & Card Center, Zeyan Hameed, Iconic Developments (Pvt) Ltd Country Director, Shiraz Dawood, Iconic Developments (Pvt) Ltd AGM (India office), Abhishek Mishra, Iconic Developments (Pvt) Ltd Sales Manager, Awasha Dawood and NDB Home Loans Manager, Saranga Mendis.

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