Adaderana Biz English | Sri Lanka Business News

Going forward, Sri Lanka should really look at strengthening the orthodox tea market and not concentrate much on the CTC market, Tea Exporters Association (TEA) Chairman Sanjaya Herath stated. “Sri Lanka is very famous for orthodox teas and we basically have a 46% market share of the orthodox tea market in the world. Going forward I feel that we should really look at strengthening the orthodox tea market and not concentrate much on the CTC market, as we have stiff competition from countries like Kenya and India who produce mass production,” Herath said whilst speaking exclusively to Ada Derana first at 9. Speaking further he also expressed the following; “Most of our markets which we are dealing at the moment, like, Turkey, Iran, Iraq, Syria, Libya, all these are in economic difficulties and also they are going through a lot of hardship. In order to move forward, we are trying to look at new markets like; China, the USA, Chile, Saudi Arabia, East and West African markets.”

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The United States Government, through the U.S. Agency for International Development (USAID), has donated 200 brand-new, state-of-the-art ventilators to Sri Lanka, delivering on President Trump’s offer of critically needed supplies and supporting Sri Lanka’s fight against COVID-19. The ventilators were handed over to Sri Lanka’s Minister of Health Hon. Pavithra Wanniarachchi by the U.S. Ambassador to Sri Lanka and Maldives, Alaina Teplitz. The ventilators, produced in the United States, feature cutting-edge technology. They are compact and easily deployable and will provide Sri Lanka with flexibility in treating patients affected by the virus. “The United States has had a longstanding commitment to the health and wellness of Sri Lankans. Over the last 20 years, the United States has provided more than $26 million in health assistance to Sri Lanka. Our enduring support continues with another donation from the American people. By harnessing the power of American innovation and private industry, we are happy to provide these state-of-the-art ventilators to Sri Lanka to fight COVID-19 and help save lives,” said Ambassador Teplitz. The ventilator donation, along with complementary training and maintenance support, builds on more than $6 million in COVID-19 assistance to Sri Lanka that has provided critical services to communities most affected by the pandemic. U.S. funding is helping to mitigate negative economic impacts, as well as to support the Sri Lankan Government’s efforts to deploy technical expertise for response and preparedness, conduct risk-communications, and prevent and control infectious diseases in health facilities. The U.S. Government has been providing development and humanitarian assistance to Sri Lanka since 1956 and has invested more than $2 billion to improve the lives of all Sri Lankans. For decades, the United States has been the world’s largest provider of bilateral assistance in health. Since 2009, the American people have generously funded more than $100 billion in health assistance and nearly $70 billion in humanitarian assistance around the world. Through an All-of-America approach, the United States is providing life-saving support by coordinating with the Government of Sri Lanka and other stakeholders to identify priority areas for investment.

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Cabinet approval was granted on 27.05.2020 to implement a housing project to provide affordable housing to middle-income earners in the public and private sectors. Accordingly, the proposal made by Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Urban Development and Housing, to issue Rs.25 billion debenture valid for a period of 05 years to obtain the initial capital required for the implementation of the project was approved by the Cabinet of Ministers. ln addition, the cabinet approval was granted to settle the debenture using the proceeds from the sale of houses constructed under the scheme and to provide housing loans from State Banks at 25-30 years concessionary loan interest rates to the relevant purchasers.

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SriLankan Airlines recently carried out a survey amongst its FlySmiLes loyalty membership to capture how the COVID-19 pandemic has affected their perceptions and sentiments on travel. This included top tiers of Platinum, Gold, Classic & Silver tier co-branded credit card holders. The survey collated feedback from over 5,500 passengers within a period of 3 weeks. Over 53% were Silver Tier members with nearly 39% of all participants being Classic Tier members. The geographical spread of the survey respondents consisted of Sri Lanka (42.3%), South Asia (22%), Europe (20%), South Pacific (4.5%), Maldives (4%), North America (3.2%), Far East (2%) & Japan & Korea (0.9%). It is encouraging news for SriLankan Airlines and the travel trade in Sri Lanka to note that 75% of travelers are optimistic of commencing travel within 03 months post pandemic after the government restrictions on COVID-19 travel are lifted. The majority of passengers stated they would be reassured if social distancing was enforced whilst travelling. The National Carrier’s priority is the safety of their passengers and employees. A range of additional measures has been enforced to offer COVID-19 preventive services at the airport and on-board SriLankan flights. These practices include thorough cleaning practices at ticket offices, check-in, boarding gates and on-board. Social distancing is followed wherever possible, and masks are to be worn. The airline carries out health questionnaires before a passenger checks – in and temperature checks are done with the help of the Airport & Aviation Authorities of Sri Lanka. All staff attending to passengers will be geared with face masks, gloves, protective apron and face shield. SriLankan Airlines Cabin Crew have been trained to provide high levels of service, whilst minimizing contact to reduce the spread of the virus. Flights have been segregated as high, medium, and low risk based on the end destination and necessary personal protective equipment is provided to the crew dependent on risk category. Every crew member goes through a quarantine period of 07 days with PCR tests carried out post operating repatriation flights or when they have an overseas layover more than 48 hours. On flights operating with layovers the crew will be accommodated in a SriLankan Airlines approved hotel and will remain in their rooms, limiting social interactions. Face masks are mandatory for the duration of a flight. Meals are hygienically prepared and packed keeping to stringent safety requirements. There is also a quarantine zone and a demarcated toilet dedicated for any passenger who may feel unwell and such passengers will be taken care of by the local health authorities on arrival. To know more on which preventive measures are taken by SriLankan Airlines to prevent the spread of COVID-19 on-board of its flights, visit www.srilankan.com.

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An oil tanker chartered by Indian Oil Corp (IOC) caught fire 38 nautical miles off Sangamankanda coast. The fully loaded New Diamond, a very large crude carrier (VLCC), was heading to the port of Paradip in India where state-run IOC operates a 300,000 barrel-per-day refinery. It had sailed from Mina Al Ahmadi in Kuwait, Refinitiv Eikon ship tracking data showed. Meanwhile, speaking exclusively to Ada Derana Biz, Lanka IOC Managing Director Manoj Gupta expressed the following: “Certainly this will not at all have any impact on our presence. The vessel was carrying crude oil for Indian Oil Corp (IOC) and it had sailed from Mina Al Ahmadi in Kuwait and yes, there was an explosion of fire which was convened at the engine room of the vessel and with the strongest intervention of our Tri- forces; Sri Lankan navy, Sri Lankan Air force and with the continues engagement from their side this fire has been brought under control. To my understanding, there have been no casualties reported. There has not been any oil spillage. A vessel from the Indian Coast Guard is coming and will be reaching the site today and another Sri Lankan naval ship will be reaching the site carrying the firefighting equipment. As far as this particular ship is concerned, it does not carry any relation with the supplies as well as our country Sri Lanka is concerned.”

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Council for Business with Britain appoints 1st female President The 20th Annual General Meeting (AGM) of the Council for Business with Britain (CBB) of the Ceylon Chamber of Commerce was conducted on 27 August 2020. During the course of proceedings, Roshanie Moraes, Executive Vice President, John Keells Holdings PLC became the first woman to be elected as the President of the Council for Business with Britain. “Moving forward our efforts will primarily be focused on enhancing business and trade between the UK and Sri Lanka as part of wider Government-led efforts to support post-COVID economic revival. We believe that women will also play a greater role in driving this recovery, and to that end, we will also be launching an initiative to improve female labour force participation and gender parity across Sri Lanka’s business environment,” she stated. Exports to the UK from SL is around USD 1 bn and imports from the UK, around USD 370 mn. UK is one of the two largest apparel buyers from SL. Commenting on developments during his tenure, outgoing President, Mark Prothero, CEO of HSBC, Sri Lanka & Maldives said: “As we all know, it has been an unfortunate and difficult period for Sri Lanka with two “Black Swan” events in a row in 2019 and 2020 which brought with it unprecedented challenges to our economy and particular hardship for our Tourism and Leisure sector. “However, it is encouraging to see that despite these unique challenges, there are other sectors of Sri Lanka’s export economy which have rebounded sharply in a strong v-shaped recovery. This serves as one of many indicators as to the resilience of the Sri Lankan people and we can be confident that under a united President and Government there is still strong opportunity for Sri Lanka to develop and prosper in the years ahead,” he said. Having served as President during the 20^th anniversary of the CBB, Prothero went on to express his gratitude to fellow Committee members – including some of the largest domestic corporates and multi-nationals – for their support and senior-level engagement in the CBB. Over the past year, CBB organised multiple discussions and events focused on relevant and timely topics, covering financial and forex markets, responsible marketing, urban development and the significance of architecture and sustainable development. Among the other key highlights in the CBB’s calendar over the past year was the launch of the SL-UK trade and investment report and the hosting of a special event to felicitate former Sri Lankan cricketer and captain, Kumar Sangakkara on his appointment as the Chairman of the MCC. Additionally, the council has also been actively supporting the training of English Language in partnership with the British Council for over 15 years. During this time, the CBB has funded the training of 2,300 teachers countrywide and positively impacted over 300,000 students. Reading a statement issued on behalf of High Commissioner to Sri Lanka from the UK, Sarah Hulton, Lisa Whanstall, Deputy High Commissioner for the UK said: “I would like to thank the outgoing President Mark Prothero and the CBB committee for all their hard work and for the time they have spent sharing insights and working together with me in my first year in Sri Lanka. I also wish to congratulate incoming President Roshanie Jayasundera Moraes, together with the new office bearers and other committee members, with whom I look forward to working closely in the year ahead to support UK businesses in this challenging time. I understand that we have a first for the CBB on the gender representation front, which is also very exciting, and I am keen to explore activities and initiatives around this as well.” The 2020/21 committee comprises of Linda Giebing, General Manager, Hilton Colombo Residences and Ameena Ziauddin – Development Director, Norfolk Foods as Vice Presidents, Tania Polonnowita Wettimuny, MD, Inter Air & Sea Logistics, as the Treasurer and Mark Prothero, CEO, HSBC Sri Lanka & Maldives as the Immediate Past President. Newly appointed committee members include: Shirendra Lawrence, COO, MAS Holdings, Hajar Alafifi, Chairperson, Unilever Sri Lanka, Sarath Ganegoda, Director, Hayleys PLC, S Renganathan, MD, Commercial Bank, Nikhil Hirdaramani, Director, Hirdaramani Group, Arjuna Nanayakkara, Head of Shared Services, London Stock Exchange Group SL, Irfan Thassim, MD, Oceanpick, Dougie Douglas, Country Manager, Etihad Airways, Indika Abeykoon, GM, Aitken Spence Travels and Gihan Jayasinghe, MD, Finlays Group, SL. Michael Fernandopulle, Head of Trade & Investment at the DIT, of the British High Commission, the Head of the British Council and Shaameel Mohideen, MD of Spillburg Holdings representing SMEs will be invitees to the Committee. Representatives from the BOI and the EDB to attend the meetings as invitees every quarter. Photo Caption: Roshanie Jayasundera Moraes, President, CBB addressing the membership. Also in the picture are Linda Giebing, VP, Dinithi Dias, Secretary, Ceylon Chamber of Commerce, Ameena Ziaudeen, VP and Tania Polonnowita Wettimuny, Treasurer, CBB

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In an unprecedented feat among the titans of the hospitality industry in Sri Lanka, all three properties owned and operated by Citrus Leisure PLC secured three international travel accolades. Citrus Waskaduwa, Citrus Hikkaduwa, The Steuart by Citrus and the &Co Pub and Kitchen were recognised by Tripadvisor’s Travellers’ Choice Awards, Agoda’s Customer Review Awards and Booking.com’s Traveller Review Awards. These achievements resonate strongly with Citrus Leisure PLC’s vision of becoming the ultimate hospitality brand in Sri Lanka. Based on millions of reviews and opinions from travellers from around the world, the annual Tripadvisor Travellers’ Choice award recognises the very best tourism establishments in terms of service, quality, customer satisfaction and more, across a range of categories. Citrus Hikkaduwa, Citrus Waskaduwa, The Steuart By Citrus and the &Co Pub and Kitchen bagged this sought after award for the year 2020. Additionally, The Steuart by Citrus secured two more awards, the Agoda Customer Review Award and the Booking.com Traveller Review Award. Both these awards are an annual appreciation program that recognizes partners for their exceptional hospitality and celebrate service excellence reflected in quality peer to peer reviews. Citrus Leisure PLC recognises the importance of winning such titles to their name as these awards are only presented after analysing the review scores left by travelers after their stays or experiences. As these reviews provide vital feedback to benchmark services and make improvements in terms of the hospitality offerings at any property, Citrus Leisure PLC ensures to follow a proactive approach which takes note of all guest comments. Citrus Hikkaduwa is a 100 room hotel situated in the heart of Hikkaduwa. Ceremoniously opened in 2014, Citrus Waskaduwa is a 5 star resort in the West Coast of Sri Lanka comprised of 150 rooms with luxury amenities. The Steuart by Citrus is the latest luxury Business Boutique Hotel comprised of 50 rooms, situated in the heart of Colombo, coupled with traditional Scottish charm and embedded by history dating back to 1835. With a commitment to build and manage a chain of distinctive hotels and resorts that are benchmarked against the most coveted in the world, these accolades stand as a testament to the fact that Citrus Leisure PLC is well on its way to achieve these corporate goals. The teams at Citrus Waskaduwa, Citrus Hikkaduwa and The Steuart by Citrus are thankful for the continued patronage of their loyal guests, for without their feedback, securing these accolades would not have been possible.

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The 25^th Annual General Meeting of the SLANZBC – Sri Lanka-Australia-New Zealand Business Council of the Ceylon Chamber of Commerce was held on 22^nd July 2020 via Microsoft Teams. David Holly, The High Commissioner for Australia in Sri Lanka made the keynote address, online. Addressing the membership, Australian High Commissioner David Holly observed that “this Business Council is, and remains, the lead organization in Sri Lanka for developing business interests between Sri Lanka & Australia and Sri Lanka & New Zealand for the mutual benefit of the countries. This was a key reason that the Council provided input at the Joint Commission talks by the Sri Lankan and Australian governments under the Trade and Investment Framework Agreement (TIFA) – as mentioned by the President. Let us all unmute our microphone and clap to wish the Council a Happy Silver Jubilee”. Further stated; “Australia has welcomed the Sri Lankan Government extending the transit times at its airports, which has enabled Australians to get home, as well as new connections for Australian freight and, in the future, passengers and tourists to Europe and the region. Australia is pleased to be supporting the excellent efforts of the Sri Lankan government with around $2 million on initiatives targeted towards Health Sector and Food Security initiatives. Australian development assistance to Sri Lanka will continue, and we will pivot our partnership to focus on COVID-19 support, to manage health and economic impacts, and a regional recovery.” “The trade and economic gains from the expected expansion in ports and airports infrastructure capacity would be multiplied many-fold if complemented by enhanced logistics efficiency – and it is pleasing to see some Business Council members embracing Block Chain technology to help this become a reality – including the announcement recently by South Asia Gateway Terminals. Australia has provided around AUD 15 million since 2016, to enhance the ‘Ease of Doing Business’, and we will be asking a new Sri Lankan government as to whether they would like to continue in this partnership.” “Prior to COVID-19, Australia had become a market leader for international education in Sri Lanka, and also a key provider of higher education in Sri Lanka with 25 Australian Service providers either in partnership with local institutions or independently from college-level through TAFE to Universities. Arrangements for the return of international students to Australia will be implemented once it is safe to do so, and in a way that ensures the protection of public health”. In conclusion, David Holly thanked re-elected President, Mr. Delano Dias, the SLANZ BC Committee & Council members and the co-patron, Honorary Consul General for New Zealand, Mr Senaka Silva for all their work, over the past year. The President re-elected, Mr. Delano Dias spelled out his main objectives as to promote Bilateral Trade & Investment, between Sri Lanka-Australia & Sri Lanka New Zealand. He made a note on Covid 19 victims in Victoria and congratulated the Government of New Zealand for successfully containing the epidemic. Further stated that the Council would work towards its objectives as the business environment improves. Mr Dias appreciated His Excellency David Holly for the ready support extended toward the Council activities and also the past presidents and Committee for their contributions towards the Council. Delano Dias, CEO, Millers Limited of Cargills Ceylon PLC Group was re-elected as the President while Ruwan Rajapakse, Managing Director, Jiffy Products, Dulani Guruge, Managing Director, Guruge Gems, Emil Kronemburg, Chairman, E C D Global Pvt Ltd, Dhanajay Kulkarni, University Collage Lanka appointed as the vice presidents. The following companies were elected to serve on the Committee for the Year 2020-2021. Abans PLC AG International (Pvt) Ltd, Aitken Spence Travels (Pvt) ltd, CMA CGM Lanka (Pvt) Ltd, Fonterra Brands Lanka (Pvt) Ltd, Hayleys Agriculture Holdings Ltd, InfoMate Pvt Ltd, International Distilleries Ltd, Maliban Biscuits Manufactories Pvt Ltd, Samson Rubber Products Pvt Ltd, South Asia Gateway Terminals (Pvt) Ltd, Worldlink Air Services (Pvt) Ltd

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Softlogic Capital PLC Chairman Ashok Pathirage recently stated that they are very keen to take capital markets to the absolute retail level by introducing investments that start at just Rs. 5,000. “We have now launched Softlogic Invest that operates two Unit Trusts and will also have a Fund Management business. We are very keen to take capital markets to the absolute retail level by introducing investments that start at just Rs. 5,000,” Pathirage told shareholders in the annual report 2019/20. Speaking further, Pathirage stated that they will continue to explore unique product propositions, backed by their investments in talent and technology on their journey towards sustainable growth. “We have had to press the re-set button at Softlogic Finance as the Company has not performed well and we now have in place one of the most experienced and capable teams to take us to our business goals. During the tough times, our commitment to our customers and deposit holders has remained paramount with the Company always carrying extra liquidity to service our customers at all times. Softlogic Stockbrokers also had to bear the brunt of the soft economy last year but we are happy to note that the CSE has resumed its stride following the competition of the presidential and parliamentary elections,” he added. The Group recorded its highest ever consolidated revenue of Rs. 17.8 billion during 2019/2020, in comparison to the revenue of Rs. 15 billion reported the previous year. The Group Profit After tax declined to Rs. 1,168 million for the year 2019/20 which is a 63% decline compared to PAT of Rs. 3,202 million. However, after normalising for a deferred tax element in the previous year Group profit before tax increased by 33% from Rs. 1,033 million to Rs. 1,370 million. As at the end of the financial year under review, the Group recorded a total asset base of Rs. 50,036 million. This was in comparison to the total asset base of Rs. 42,028 million held at the end of the previous financial year. The total equity attributable to equity holders of the parent company stood at Rs. 5,438 million as at 31 March 2020. This indicated a net asset per share of Rs. 7.90 which was a 5% increase over the net assets per share of Rs. 7.52 as at end of the previous financial year. Only the insurance company generated a profit for the year to the Group amounting to Rs. 1,918 Million whereas the other companies faced challenges during the year.

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In an effort to bolster national fish production as well as to improve the livelihoods and food security initiatives of smallholder farmers in Sri Lanka, Oceanpick (Pvt) Ltd. -South Asia’s spearheading oceanic farming operator-, recently distributed free fingerlings to small-scale fish farmers across the island. The distribution was undertaken in the presence of officials from the National Aquaculture Development Authority of Sri Lanka (NAQDA), and served to attest to the sustainable aquaculture company’s commitment to supporting local start-ups of artisanal Seabass farming operations. A joint venture between Aberdeen Holding, Kames Fish Farming Ltd. of Scotland, and other investors-, Oceanpick was founded in 2011 with the aim to narrow the demand-supply gap of premium quality seafood without compromising on dwindling species numbers. Having started off as South Asia’s first ever commercial-scale offshore oceanic farm for finfish, and currently still the only offshore aquaculture operation in Sri Lanka, the BOI-approved company’s operations are highly sustainable, harnessing the strong currents and high quality of seawater off the northeast coast of the island to allow the fish to breed and thrive in its natural saltwater environment. Operating from its main Seabass and Barramundi hatchery and farming facility in the untouched waters of Trincomalee, Oceanpick is positioned with a geographical advantage, nestled amongst a major aquaculture hub alongside India and Bangladesh. However, the sustainable marine fish farm has taken the lead in Seabass and Barramundi culture, having recently being awarded the Global Aquaculture Alliance’s Best Aquaculture Practice (BAP) certification for Barramundi in South Asia; highlighting Sri Lanka on the map as having the first BAP-certified aquaculture facility in the region. Seabass farming has proven to be an effective and sustainable economic activity; one that has the capacity to increase the income of fishing communities owing to its low environmental and operational costs. At the Oceanpick facility, Seabass fingerlings are first allowed to hatch out and grow in the company’s on-shore nursery located close to the sea sites, and are then transferred to sea cages anchored to the ocean floor, where strict biosecurity standards are maintained and the waters consistently monitored for temperature and salinity. In 2019 alone Oceanpick facilitated the growth of over a million fingerlings, and as a result, were able to produce a surplus that is now able to benefit the growth of the fisheries sector in more ways than one. “Over the years our facility has played a significant role in responsible farming that produces all-natural, nutrient-rich, and superior quality seafood, underscoring the sustainability of our facility and overall operations,” said Dan Richardson, Head of Operations at Oceanpick. “However, smallholder fish farmers are as crucial for the future growth of the fisheries sector. We felt the need to step in to strengthen connections by combining our resources, with the aim to both boost production as well as help restore livelihoods.” Photo Caption: Dan Richardson, Head of Operations, Aslam Pathiri, Manager, Hatchery & Nursery Operations, and Fayas Buhary, Manager Special Projects present seabass fingerlings to a farmer

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Leading Sri Lankan insurer, Janashakthi Insurance PLC announced the appointment of Ravi Liyanage as the company’s Director / Chief Executive Officer with effect from 16th of November 2020. “It is my great pleasure to welcome Ravi Liyanage to Janashakthi Life as the Chief Executive Officer of Janashakthi Insurance PLC. I am confident that Ravi’s wide experience, skill sets and interests will further strengthen our business strategies to drive innovation and business growth” said Prakash Schaffter, Chairman of Janashakthi Insurance PLC. Ravi brings years of knowledge to the company with his experience in senior management roles across industries including Insurance, Finance, Retail, Manufacturing, Automotive and Lubricants. Further, he has held several Directorships in reputed Financial entities. He also served Janashakthi Insurance PLC from 2003 to 2011 where he played a key role in driving business growth in Marketing, Branch Operations, Sales and Distribution and as a Board Director of Janashakthi Finance from 2006 to 2009. He holds a Bachelor of Science degree from the University of Colombo and two Postgraduate degrees; Postgraduate Diploma in Marketing, from the Chartered Institute of Marketing – UK and Master of Business Administration in General Management from the University of Sri Jayewardenepura. He is also a Certified Management Accountant (CMA) from CMA (Australia) and a fellow of the Life Underwriting Training Council of USA. He has been awarded with many global and local accolades including Asian Brand Leadership Award from Brand Asia Congress, Marketer of the Year Award from the Chartered Institute of Marketing -UK, Global Brand Leadership Award from Global Brand Congress and Brand Champion Awards from the Sri Lanka Institute of Marketing.

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Addressing the 35^th Session of the FAO Regional Conference for Asia and the Pacific (APRC), Minister of Agriculture Mahindananda Aluthgamage underscored the importance of promoting sustainable agriculture through innovation including digital agriculture solutions. He reiterated that the access to and dissemination of latest technologies and innovations is imperative to improve the productivity of the agriculture sector. Building resilient food systems, and increasing the adaptation capacity in the agriculture sector towards climate change while promoting the wise use of natural resources are also essential, the Minister stated. Minister Aluthgamage who is heading the Sri Lankan delegation participating in the APRC welcomed the strong partnership between Sri Lanka and the Food and Agriculture Organization of the United Nations (FAO), ever since the country became a FAO member nation in 1948. He stated that FAO’s technical and advisory support has helped the country immensely, to transform the agriculture sector from a livelihood subsector to a dynamic income-earning production sector, a vital pillar of the national economy. The Sri Lankan delegation drew attention to the present concerns in the agriculture sector such as poor profit margin for smallholder farmers, non-availability of a proper insurance scheme for growers, the lack of improved agrochemical management and the inability to predict seasonal forecasts. FAO’s continuous technical, policy and programmatic assistance in these areas were anticipated. Addressing the APRC, FAO Director General Qu Dongyu stated that it is time to take full advantage of the digital age through innovative partnerships with national governments, farmers, the private sector, academia, NGOs and many others. Enabling these partnerships is the Hand-in-Hand Initiative implemented by FAO. This evidence-based, country-led and country-owned initiative aims to accelerate agricultural transformation and sustainable rural development to eradicate poverty and end hunger and all forms of malnutrition. “The initiative prioritizes countries where national capacities and international support are the most limited or where operational challenges, including natural or man-made crises are the greatest,” stated the FAO Director-General. The FAO Regional Conference for Asia and the Pacific (APRC) is a forum to discuss current country and regional priorities and pressing issues in the region such as the impact of COVID-19, the state of agriculture, natural resources management, food security and nutrition. It also provides an opportunity to highlight examples of partnerships, innovation and digital technologies that are helping to improve food security and nutrition across the region as well as regional and global policy and regulatory matters. This year Government representatives from 46 Member Nations joined the 4 day conference which commenced on September 1 through videoconferencing in light of the COVID-19 pandemic and associated public health concerns. More than 400 delegates participated in the virtual APRC meeting hosted by the Royal Government of Bhutan. Photo Caption: Minister of Agriculture, Mahindananda Aluthgamage addresses the 35^th Session of the FAO Asia-Pacific Regional Conference. (From L-R: Mr. P.N. Jayanetti – Director/Projects, Ministry of Agriculture, Mr. Mahindananda Aluthgamage – Minister of Agriculture, Dr Ajantha de Silva – Additional Secretary, Ministry of Agriculture)

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Emirates Airline is #BackIntheGame. As the Official Airline of the 2020 US Open Tennis Championships, Emirates returns to the Grand Slam® tennis tournament for the ninth year in a row with online experiences to connect fans to the game. As Emirates resumes service in six U.S. gateways – with the health and safety of travelers at the forefront of all operations – the US Open represents a turning point toward the skies and renewed vigor for the promise to #FlyBetter. “The US Open is one of the most important sporting events in the world and we are thrilled to be back,” said Andrew Bunn, VP Sales, North America. “We are #BackInTheGame and committed to offering our U.S. customers the best experience both in flight and from wherever they will be watching the tournament.” Emirates will stand out at the US Open through a variety of activities including:

‘Emirates Serves for Good’: After each match in Arthur Ashe Stadium, the winning player will hit three balls at Emirates branded targets located in the upper tier sections of the stands. Each time a player hits the target a donation of $1,000 will be made to the USTA Foundation, the charitable arm of the USTA, “Rally to Rebuild” program. The Rally to Rebuild program has been set up by the USTA Foundation to help reignite programs for under-served youth throughout the U.S., furthering the Foundation’s mission to bring tennis and education together to change lives.
The donation will support the National Junior Tennis & Learning (NJTL) network, which features more than 250 chapters that reach over 160,000 youth on an annual basis, providing free or low-cost tennis and education programming to the 50 largest markets in the U.S. – nurturing future leaders and enabling kids in need to succeed on the court, in the classroom and in life.
‘US Open Winner’s Walk’ presented by Emirates: Emirates will give audiences the exclusive chance to watch match winners talk about their experiences immediately after the match which will be shared on the US Open twitter channel, including the hashtags, #EmiratesFlyBetter and #BackIntheGame

‘US Open Play of the Day’ presented by Emirates: Exclusive video content presenting the ‘Play of the Day’ will be shared on the US Open’s Facebook page, including the hashtag, #EmiratesFlyBetter and #BackIntheGame

Broadcast Commercial on ESPN: Emirates’ new commercial, Emirates Crew Reassurance, will run across ESPN’s broadcast and digital platforms.

With more than 50 percent of its pre-pandemic destination network back in service, Emirates looks forward to getting back in the game and back in the skies. As borders continue to open, the airline is committed to keeping passengers safe and protected at every step of the journey. To date, Emirates has resumed service from Los Angeles International Airport (LAX), Boston Logan International Airport (BOS), New York’s John F. Kennedy International Airport (JFK), O’Hare International Airport (ORD), Houston’s George Bush Intercontinental Airport (IAH) and Washington D.C.’s Dulles International Airport (IAD). Free, global cover for COVID-19 related costs: Customers can now travel with confidence, as Emirates has committed to cover COVID-19 related medical expenses, free of cost, should they be diagnosed with COVID-19 during their travel while they are away from home. This cover is immediately effective for customers flying on Emirates until 31 October 2020 (first flight to be completed on or before 31 October 2020), and is valid for 31 days from the moment they fly the first sector of their journey. This means Emirates customers can continue to benefit from the added assurance of this cover, even if they travel onwards to another city after arriving at their Emirates destination. For more details: www.emirates.com/COVID19assistance. Dubai is Open: Customers from Emirates’ network can travel to Dubai as the city is open for business and leisure visitors since 7 July, with new air travel protocols that facilitate travel for UAE citizens, residents, and tourists while safeguarding the health and safety of visitors and communities. Visitors to Dubai should hold an international health insurance policy covering illness from Covid-19 for the duration of their stay. For more information on entry requirements for international visitors to Dubai, please visit www.emirates.com/flytoDubai. Health and safety first: Emirates has implemented a comprehensive set of measures at every step of the customer journey to ensure the safety of its customers and employees. All passengers also receive complimentary hygiene kits containing masks, gloves, hand sanitizer, and antibacterial wipes. For more information on these measures and the services available on each flight, visit www.emirates.com/yoursafety Travel restrictions: Customers are reminded that travel restrictions remain in place, and travelers will only be accepted on flights if they comply with the eligibility and entry criteria requirements of their destination countries. For additional information, visit www.emirates.com/wherewefly DXB Entry Restrictions: All passengers boarding Emirates flights, whose travel originates in the below U.S. gateway markets, cannot be accepted onboard unless they hold a COVID-19 negative certificate issued by a local government-approved laboratory. A certificate from a UAE Government designated laboratory (where specified) in the country is also acceptable. Certificates cannot be issued more than 96 hours before commencing travel. The gateways include:

Dallas / Fort Worth (DFW)
Houston (IAH)
Los Angeles (LAX)
San Francisco (SFO)
Fort Lauderdale (FLL)
Orlando (MCO)
All passengers originating in California, Florida, and Texas, and connecting onto an Emirates flight to DXB

Photo Caption: Emirates Gets #BackInTheGame at the 2020 US Open

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United States Imposes Restrictions on Certain PRC State-Owned Enterprises and Executives for Malign Activities in the South China Sea The U.S. Department of State imposed visa restrictions on People’s Republic of China (PRC) individuals responsible for, or complicit in, either the large-scale reclamation, construction, or militarization of disputed outposts in the South China Sea, or the PRC’s use of coercion against Southeast Asian claimants to inhibit their access to offshore resources, the US embassy in Colombo said in a statement today (04). “These individuals will now be inadmissible into the United States, and their immediate family members may be subject to these visa restrictions as well,” the statement added. “In addition, the Department of Commerce has added 24 PRC state-owned enterprises to the Entity List, including several subsidiaries of China Communications Construction Company (CCCC). Under these sanctions, certain U.S.-origin items may require a license subject to Export Administration Regulations (EAR) before they can be provided to companies on the Entity List,” it said. “Since 2013, the PRC has used its state-owned enterprises to dredge and unlawfully reclaim more than 3,000 acres in the South China Sea, destabilizing the region, trampling on the sovereign rights of its neighbors, and causing untold environmental devastation.” “CCCC led the destructive dredging of the PRC’s South China Sea outposts and is also one of the leading contractors used by Beijing in its global Belt and Road Initiative (BRI) strategy. CCCC and its subsidiaries have engaged in corruption, predatory financing, environmental destruction, and other abuses across the world,” the statement said. “These sanctions are targeted at PRC entities and the United States further encourages countries to manage risk when dealing with CCCC and its subsidiaries. CCCC has done untold environmental damage, been involved with malign actions around the world, and caused instability in the Indo-Pacific.” “The United State hopes countries will examine their dealings with CCCC to guard against the company’s abuses, and to protect their own sovereignty and interests,” it added.

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To avoid a possible foreign exchange crisis due to the economic hit caused by Covid-19, the Sri Lankan Government restricted imports, providing exceptions only for raw materials, pharmaceuticals, and oil. Meanwhile, addressing an event in Colombo today (04), State Minister for Finance, Capital Market, and State Enterprise Reforms, Ajith Nivard Cabraal also expressed his views in this regard. Cabraal made these remarks whilst responding to a query on Government’s vehicle import ban, during the question hour session. “When we made the assessment about imports, we did get the information from the customs department as well as the other departments, that we had a stock within Sri Lanka, which was sufficient for about two years. So, that is one of the reasons why this restriction was prompted. I’m not saying that we should have that forever. At the same time when you take a decision to make certain restrictions, you take that decision based on the available data and that data was the key factor in making that decision. Whether that is 100% correct or otherwise, I’m not sure. You got to take a decision at that time, like what will you do in your own business, depending on how much less pain you are causing in the situation.” “We do have a plan where we would like to see some assembly of vehicle, which is certainly on the cards and that ‘COVID or no COVID’, we would like to see that happening and we would encourage companies to look at that positively and to see whether they can develop that as another industry in Sri Lanka. At the same time with regard to the importation, we do recognize that not everything can be done in Sri Lanka. We need to have good vehicles, but at the same time, we need to have the resources to do that. So, currently what we are experiencing is a resource constrain, particularly foreign exchange, because we have to conserve some of those for our loan repayments as well. So, in that context there would be this element of difficulty that you are undergoing, but, again we can tell you that it is not going to be a permanent feature. The moment we are in a position to lift that we would lift that, but then we have to look at the priorities that the country is now facing and once that is easing with other new revenue flows and as well as new foreign exchange flows coming in we are also going to do a new feature where the investment in treasury bills and treasury bonds from outside are going to be supported.” “At the end of 2014, we had something like $3.5 billion investment in Sri Lankan bonds. Today it had come down to too much less than that. By the end of 2019, it has come down to less than 500 million. So there was a gap of about $ 3 billion. We have to get that back. In order to get it back, we may need to do certain incentives, which we are now hoping to provide in the next few weeks. So, once those happen and when we see a steady inflow coming in, we would probably see some of those restrictions easing, but until such time you would find that our hands are also tight. Some things you like to do but unfortunately you have to find the time to do that and this time around we believe that it is on the cards but it would take some time and then we want you to bear with us during that time and hopefully we can make that shorter than longer.”

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Welcoming a newborn baby to your family is one of life’s greatest pleasures. All parents want nothing but the best for their children and bringing a newborn in to the world brings with it a significant responsibility of ensuring protection and wellbeing for them, for years to come. As a company devoted to helping people live healthier, longer, better lives, AIA appreciates this monumental moment of joy intertwined with a vast sense of responsibility. And while we can’t help in the many things that new parents have to deal with as they plan out a safe and fulfilling life for their babies, there is one thing we can help with. Being in the business of life insurance, we can offer new parents the peace of mind in knowing that they are financially protected in the event they need it. In doing so, AIA has partnered Ninewells to provide financial protection and security to families that step into parenthood by way of providing an LKR 1 Million worth of Worldwide Personal Accidental Life Insurance cover free of charge. AIA’s Chief Executive Officer Nikhil Advani commented, “As a parent, I know, having a baby is the most amazing moment for a couple, bringing great joy and a lifetime of happiness. We want these new parents to know that they can count on AIA to be there for them throughout their life journey together. We are happy to partner Ninewells which is one of the country’s best maternity hospitals to add value to their customers by giving them free insurance coverage at a time when it becomes most meaningful to them. AIA’s role surpasses that of an insurance payer to a life partner and that is why we want to be there for people in life’s most wonderful times, just like we are there for them when things get tough.” Ninewells Chief Operating Officer and Medical Director Dr. Vibash Wijeratne said, “Adding a new member to the family is the most joyful experience but it comes with it a huge responsibility and while we do our best to ensure the best medical attention and care, it is great to have a partner such as AIA on board to offer financial peace of mind and protection.” The Director Marketing Nilantha Rathnayake added “Ninewells is the market leader in women and childcare in Sri Lanka and provides a wide spectrum of treatments for women and children. As a hospital committed to adding value to our customers, we are delighted to have AIA onboard to offer our new parents a gift that will truly make a difference to their lives while guiding them towards financial protection at this significant milestone of their lives.” Photo Caption: AIA CEO Nikhil Advani and Ninewells Chief Operating Officer and Medical Director Dr. Vibash Wijeratne hand over the first complimentary AIA Life Cover to a new parent at Ninewells.

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Allianz Lanka joined hands with BIMA Lanka Insurance Brokers (Pvt) Limited (BIMA) to introduce BIMA Health, a simple and affordable health insurance solution with convenient monthly premiums and a host of valuable benefits. BIMA, headquartered in London & Singapore, is a leading global insurance and health organisation, operating in emerging markets and serving over 35 million customers across 9 countries in Asia & Africa. BIMA uses digital technology to bring simple, affordable insurance and health services to people who have never had them before. Building on Allianz’s longstanding global relationship with BIMA, where the insurer is one of the early, strategic investors, this partnership seeks to make health insurance accessible to more Sri Lankans around the island. BIMA Health policies will be underwritten by Allianz Lanka. Offered under two tiers, it provides policyholders fixed daily cash benefits in the event of hospitalization due to an accident, illness, or surgery. It also provides extended protection to cover loss of income during the post hospitalization recovery period. BIMA Health Tier 1 comes with a daily benefit of Rs.2,000/- and a daily accidental benefit of Rs.4,000/-, up to Rs.60,000/- per year, for an ultra-low monthly premium of Rs.299/- plus taxes. BIMA Health Tier 2 includes a daily benefit and daily accidental benefit of Rs.5,000/ and Rs.10,000/-, respectively, with an annual limit of Rs.150,000/- for a monthly premium of Rs.899/- plus taxes. “In Sri Lanka and around the world, we at Allianz have remained committed to helping secure people’s lives and to give courage to our customers for what’s ahead. Taking our world-class insurance solutions to underserved segments of the market is one of the key elements of this mission. Hence, we are delighted to extend our global partnership with BIMA to the Sri Lankan market and roll out a simple, cost-effective health insurance solution through BIMA Health,” said Anura Perera, Head of Commercial, Allianz Insurance Lanka Ltd. “The low premiums and suite of benefits on offer are sure to encourage more Sri Lankans to utilize the protection of health insurance. We look forward to working with BIMA on rolling out similar economical insurance solutions.” “We are incredibly excited to partner with Allianz in Sri Lanka to launch BIMA Health. Allianz is a valuable partner to BIMA, having invested $96 million in our company in 2017, to support our global business expansion, and serving as an underwriter in a number of key markets. We’re looking forward to strengthening our relationship here in Sri Lanka and also plan to launch some new products in near future. The partnership gives us an opportunity to reach millions of people in Sri Lanka with trustworthy, simple and affordable insurance services.” said Apoorv Kansal, General Manager of BIMA. Prospective policyholders can learn more about these policies and enrol themselves online on www.bima.lk. They can also set up hassle free automated recurring premium collections online using their Visa or Mastercard cards. Photo Caption: Standing from left – Malinda Mendis, Senior Cluster Manager, Allianz Insurance Lanka Limited; Rakshana Buhardeen, Assistant Manager – Operations, BIMA; Apoorv Kansal, General Manager, BIMA; Ajith Alexander, Country Manager, BIMA; Gany Subramaniam, Director / Chief Executive Officer, Allianz Insurance Lanka Limited; Ranga Dias, Chief Sales Officer – Corporate, Allianz Insurance Lanka Limited; Thimira Manamendra, Head of Affinity , Allianz Insurance Lanka Limited; Mangala Bandara, Chief Marketing Officer, Allianz Insurance Lanka Limited; Anura Perera, Head of Commercial, Allianz Insurance Lanka Limited; and Nirosha Perera, Assistant General Manager – Legal, Allianz Insurance Lanka Limited.

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New initiative to provide seamless 24/7 customer engagement across all access platforms The Commercial Bank of Ceylon has launched a one-stop trilingual Integrated Contact Centre to serve its customers and stakeholders 24/7 and enabling customers to reach the Bank via multiple channels for inquiries and assistance. The dedicated team behind the Centre consists of customer service representatives to handle calls, written communications, customer requests and customer feedbacks routed through social media, team leaders and trainers for better supervision and monitoring to ensure customers receive a positive experience in each and every interaction with the Bank. The Integrated Contact Center is a much-needed platform to seamlessly serve customers who contact the Bank through many channels and to simultaneously provide them with speedy and professional responses, the Bank said. Commenting on the launch, Commercial Bank’s Deputy General Manager – Marketing, Mr Hasrath Munasinghe said: “The Integrated Contact Centre was launched to offer a new dimension in customer-centricity and engagement while handling all inquiries in an efficient and pleasing manner with a view to making it a benchmark for service excellence.” He said the Centre is especially useful in times like the present when social distancing and contactless service are essential safety measures. The launch of this facility ensures quality service for Commercial Bank customers round the clock and calendar, in the language of their preference. The Centre will also be instrumental in utilising customer feedback to improve the quality of services offered by the Bank, Mr Munasinghe said. 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. Photo caption: Commercial Bank’s Chief Operating Officer Mr Sanath Manatunge (3^rd from left) declares open the Integrated Contact Centre in the presence of the Bank’s (from left) Senior Manager – Contact Centre Mrs Beatrice Starling, Head of Card Centre Mr Thusitha Suraweera, Deputy General Manager – Marketing Mr Hasrath Munasinghe, Deputy General Manager – Human Resource Management Mr Isuru Tillakawardana, Deputy General Manager – Personal Banking Ms Sandra Walgama.

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Citizens Development Business Finance PLC (CDB), one of the largest and most successful NBFI’s in the country and strengthened by its commitment towards empowering a smarter and sustainable Sri Lanka, celebrates 25 years of success on 7th September 2020. Striving towards the goal of transforming Sri Lanka’s financial landscape, CDB’s journey over the past two and a half decades has been truly remarkable. Today CDB has grown into one of the largest NBFI’s in Sri Lanka with an asset base of nearly Rs. 100 billion, serving customers of all social strata across the country. The organization has spread its wings with 71 branches across the island and employs over 1,700 inspired individuals. The company claimed its place in the prestigious Business Today Top 30 in 2019, establishing its commitment towards success. Speaking about the journey of 25 years, CDB’s Managing Director/Chief Executive Officer Mahesh Nanayakkara said, “I am truly and humbly proud of this moment today, as CDB celebrates a journey of 25 years. Over the past two and a half decades, despite the many challenges, team CDB forged ahead with great motivation and strength which helped us claim our position as one of the best. Reassuring our courageous efforts, the organization continues to grow from strength to strength driven with a single-minded focus on providing the best financial solutions to empower aspirations of all Sri Lankans. “CDB believes in its people, and over the years the organization has invested in transforming ordinary people to work towards achieving extraordinary results. As an outcome of our faith in who we employ, today CDB is one of the Top Five NBFI’s in the country with many accolades under its name. Despite a global pandemic, CDB was able to report exceptional financial results in 2020 by adopting and transforming its products and services to suit the financial needs of the moment. As we celebrate this triumphant milestone our goal for the next decade is to build a smarter and sustainable Sri Lanka. We are ready to face any obstacle ahead of us and are committed to continuing on our winning streak,” he further said. Sustainability is one of the key pillars of growth within the organization, and over the years CDB has embraced sustainability to enhance Child Health & Education, Social Empowerment and Environmental integration with multiple initiatives. At CDB, sustainability goes beyond mere donations and transcends into transforming its business model from the grass-root level to support the cause. As a result of the organization’s dedication and commitment towards the cause, CDB was the first-ever ISO 14064 -1 carbon verified financial institution in South Asia. The ongoing efforts have earned the organization many accolades, including being recognized as one of the top ten Best Corporate Citizens in Sri Lanka at the Corporate Citizen Sustainability Awards by the Ceylon Chamber of Commerce in 2019.

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The Asian unit of trading house Vitol is set to supply liquefied natural gas (LNG) to Bangladesh as the country seeks its first spot cargo to capitalise on lower prices for the super-chilled fuel, two energy officials with direct knowledge of the matter said. Four traders competed for the tender by the state-run Rupantarita Prakritik Gas Company, which last month invited offers from 14 shortlisted companies. The company sought 138,000 cubic meters of lean LNG for delivery from Sept. 30 to Oct. 8. “Vital is likely to win the tender as it placed the lowest offer,” said one of the officials of the Petrobangla, in charge of LNG imports into the South Asian country. Lower Asian spot prices LNG-AS compared with previous years are attracting some countries to import more spot cargoes rather than sign long-term contracts. “We have got much lower prices in the tender comparing to the long-term deals,” another Petrobangla official said, without disclosing the prices on offer. Bangladesh, with a population of about 160 million people, is expected to become a major LNG importer in Asia, along with Pakistan and India, as domestic gas supplies fall. The country currently has two floating storage and regasification units (FSRUs) with a total regasification capacity of 1 billion cubic feet per day – equal to about 7.5 million tonnes a year. Bangladesh imported 3.89 million tonnes of LNG in 2019 – through two long-term contracts with Oman and Qatar. It has a 10-year LNG import deal with Oman Trading International. That LNG is priced at 11.9% of the three-month average price of Brent crude oil plus a constant price of 40 cents per million British thermal units (mmBtu). Under its 15-year deal with Qatar, Bangladesh pays 12.65% of the three-month average price of Brent oil plus a constant of 50 cents per mmBtu. Last year, Bangladesh shortlisted 17 companies for spot LNG and among them 14 have signed sales and purchase agreement with Rupantarito Prakritik Gas Company. Source-Reuters

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