Adaderana Biz English | Sri Lanka Business News

The Sri Lanka Institute of Marketing (SLIM) recently conducted a tailor-made workshop for the sales and medical delegates of Indoscan (Pvt) Limited, a leading importer and distributor of pharmaceutical products. The exclusive training programme was conducted by Dr. Pradeep Edward, an eminent Marketer who possesses extensive experience in the medical and pharmaceutical industry. This in-house training programme was focused on three key areas; closing sales, improving negotiation skills, and bringing out the potential of the participants. Determined to fuel the economy of the country affected by the COVID-19 pandemic, SLIM is shouldering the national responsibility of mentoring the local industries to take proactive measures in response to coronavirus, in order to become more resilient against future shocks and disruptions. SLIM has therefore implemented a special initiative named ‘Restart Sri Lanka’ to uplift the local corporates to the next level through streamlining their focus, attitudes, and orientate them on how to overcome such situations. The Restart Sri Lanka initiative was introduced under the auspices of the Honourable Prime Minister, Mahinda Rajapaksa. Accordingly, SLIM has conducted a series of tailor-made training programmes and workshops of this type to empower the corporates and local SMEs. Commenting on the workshop, Ananda Samarasinghe, Chairman/Chief Executive Officer, Indoscan (Pvt) Ltd said, “I would like to extend my gratitude to SLIM for conducting this special in-house training programme for our team members. Since SLIM is the national body for marketing, we always rely on the exceptional training programmes curated and carried out by SLIM, which have proven to be effective in igniting the true potential of the attendees. This programme imparted exceptional skills in selling to our employees and equipped them to employ those skills in a practical environment by thinking differently and being proactive. The staff were extremely satisfied with the training conducted by Dr Pradeep Edward”. “As the apex marketing body in Sri Lanka, SLIM is always focused on uplifting the local marketing fraternity. We aim to strengthen the sales and marketing teams of corporates by conducting tailor-made training programmes that fulfill their unique training needs. We have an edge in providing training programmes to the pharmaceutical industry as SLIM is also the conducting body of the Certificate in Pharmaceutical Marketing, which is the only professional course in Sri Lanka that covers Anatomy, Psychology, Marketing and Management”, stated Roshan Fernando, President, SLIM. Commenting on the programme SLIM Vice President Nuwan Gamage said, “The corporate solutions offered by SLIM have become much sought-after among corporates and they always send their employees to SLIM in order to sharpen their professional skills and enhance knowledge on sales and marketing. We offer a wide array of customised corporate solutions to address the needs of various professional groups. SLIM never compromises with the quality of its education. We hope more companies will join hands with SLIM to train their staff’’. Sharing his thoughts, Sanath Senanayake, Chief Executive Officer / Executive Director, SLIM said, “Although most trainings fail to connect its content to actual on-the-job application, SLIM is always focused on bridging the skills transfer gap. Corporate training is a critical part of any company’s ability to continuously transform and compete in today’s business environment. For 50 years, SLIM has been in the sphere of educating business executives — on new marketing trends, on new frameworks and on new skills which help marketers do their jobs and succeed in their respective industries.” SLIM conducts tailor-made corporate training programmes and workshops to help corporates groom their employees to face the present challenging business landscape. These timely and relevant training programmes are conducted by top-notch facilitators who have hands-on experience in various industries. SLIM has been promoting marketing excellence and elevating the status of marketing fraternity of the country since 1970, and was subsequently incorporated by the Act 41 of 1980 in the Parliament of the Democratic Socialist Republic of Sri Lanka. SLIM has received ISO 9001:2015 certification in recognition of its superior quality management system and ISO 2990:2010 for Learning Service Provider (LSP), providing non-formal education and training services. Photo Caption: Roshan Fernando, President, SLIM Image: Participants of the Training Programme

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Indocean Developers has informed buyers of Altair apartments that a recent Supreme Court decision relating to a management rights dispute involving two groups of shareholders was only a denial of a plea by one party to the dispute to dismiss a case filed by two purported directors on the grounds that the said directors had been fraudulently appointed. At the point of reaching its decision, the Supreme Court of Sri Lanka did not have the benefit of a sweeping order issued by the National Company Law Appellate Tribunal (NCLAT) in New Delhi, the highest commercial court in India, on Friday, 4^th September 2020, staying the appointment of three directors, Messrs Pradeep Sureka, Jugal Khetawat and Rajendra Bachhawat, and reinstating as a director the petitioner Jaideep Halwasiya, the Company explained. In making the order, the three-judge bench of the Indian Court took cognizance of several matters including the fact that the director removed despite being one of its shareholders and directors, had not been served with notice and therefore was not presented at a purported AGM held on 24^th September 2019 at which the directors whose appointments were challenged in the petition, were purportedly appointed to the Board of Directors. The Court observed that no resolution or minutes were presented to suggest that two directors of the company in question decided to hold the said AGM and no notice or agenda had been circulated in the prescribed manner in respect of the same. The Court also noted that the Annual Report of the Company falsely declared that the said AGM had been attended by Mr Halwasiya and also by another director Mr Man Mohan Bagree who by his own subsequent admission was in Sri Lanka at the material time. “This important judgement of the NCLAT will be submitted to the Courts in Sri Lanka, which will, no doubt, take due cognisance of the same,” Indocean Developers told buyers in a communiqué. “In the meanwhile, we are under the auspices of the Office of the Special Authorised Officer working tirelessly and with good result, to deliver on our pledge to H.E. the President and to Altair buyers that handover of apartments will commence in January 2021, and equally important, you will receive a qualitatively uncompromised product,” the communiqué said. Indocean Developers has also alleged that the South City Group, one of the parties to the management rights dispute, has perpetrated massive fraud, an unexplained cost overrun of over US$ 130 million, as established by investigative reports from two of the top four international accounting firms, and a project delay of over two years.

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Singer Sri Lanka PLC has been commended for its exceptional sales performances, best sales improvement and their contribution for VRF Inverter Multi-system Air Conditioning Solutions of Mitsubishi Heavy Industries. Singer Sri Lanka has been a partner of Mitsubishi Heavy Industries Air Conditioner sales in Sri Lanka since 2015. The global integrated business enterprise Mitsubishi is a reputed multinational, headquartered in Japan and is present in 90 countries. Mitsubishi Heavy Industries – is a leader in the global air conditioning industry. Presently, Mitsubishi Heavy Industries manufactures superior quality air conditioners with a capacity of more than 20 million units since its launch. With the rise of construction projects (especially condominiums and office buildings), demand for air-conditioners in Sri Lanka is on a steady rise. Interestingly, Sri Lankan air conditioner buyers demand more and more highly efficient ‘inverter’ equipped AC units. In this background, Mitsubishi Air Conditioner units distributed by Singer Lanka have been successfully meeting the consumer needs leading to a substantial growth in overall Mitsubishi Heavy Industries Air Conditioner sales in Sri Lanka. This includes VRF inverter multi-system Air Conditioners (KX) 2019, for which the Mitsubishi Heavy Industries was pleased, and praised Singer Sri Lanka for its exceptional performance. Singer’s contribution for Mitsubishi Heavy Industries Air Conditioners was commended under the ‘Best Sales Improvement for KX’ category in Y2019. Mahesh Wijewardene, Group Chief Executive Officer of Singer Sri Lanka PLC stated, “As a leading solutions provider in the air conditioning business, Singer’s ability to collaboratively serve the Sri Lankan market, together with the reputed global brand Mitsubishi Heavy Industries, highlights our commitment and ability to fulfill the vision of our partners. Singer Sri Lanka PLC pays particular attention on the brands that we work with and their product quality. The stringent quality standard and environmentally-safe technology are reasons for higher consumer interests towards the brand. Backed with Singer’s trusted service pledge and well known technical assistance, customers are provided with an ultimate benefit of owning a high quality air conditioner and after sales service support”. Throughout the Mitsubishi partnership, Singer Sri Lanka has been marketing and servicing Mitsubishi Heavy Industries Industrial/Commercial and Residential use air conditioners, including Single and Multi-Split Inverter/Non-inverter types of residential air conditioners, Single and Multi-Split Inverter/Non-inverter types of Industrial/Commercial air conditioners, and all inverter type commercial use solutions of VRF (Variable Refrigerant Flow). Singer (Sri Lanka) is at the forefront of retail segment with a portfolio of over 600 electronic items, 1200 home appliances and boasts more than 50 internationally renowned brands. With over 430 retail outlets, Singer has propelled into become a dominant player offering best in class in after sales services. It is renowned for offering consumers a wide range of top-quality international brands, engaging with its consumer base through the largest distribution network in Sri Lanka consisting of retail stores and dealers. The company was adjudged as the premier People’s Brand in Sri Lanka for thirteen consecutive years.

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The National Body for Marketing of Sri Lanka, the Sri Lanka Institute of Marketing (SLIM) recently conducted yet another insightful knowledge sharing session as part of its “IGNITE” series. The webinar themed “COVID Curve in Grocery Retailing: The Seychelles Perspective”, featured Veronique Laporte, Chairperson, Seychelles Maritime Safety Authority and Former Chief Executive Officer, Seychelles Trading Company Ltd. Hosted by retail expert Charaka Perera, Executive Director Fuchsia Retail (S.A) Pte Ltd. Singapore, and EXCO member of SLIM, the webinar was held to provide the local community with a holistic and comprehensive understanding of the impact COVID-19 had on the retail sector. Sharing her ideas, Veronique Laporte stated, “As a country that imports the majority of its consumer goods, Seychelles is facing a drastic change in its retail landscape. The longer the pandemic remains, the more challenges and the greater impact it will have on retailers of all sizes. COVID-19 has acted as an accelerant to shifting business models and consumer priorities. Although most of the retailers in Seychelles were not set-up with solid e-commerce facilities, they started to reach consumers and take orders through social media platforms. For instance, most of the small-scale retailers have started using WhatsApp as a virtual platform to sell their goods. Both big and small players in the retail industry have seen the massive shift to home delivery and in-store pickup. I think in many ways the future of retail has arrived sooner than we thought. Today, online grocery shopping is in the spotlight. In order to survive in the market, retailers should identify what customers need and deliver it because this crisis leaves them with no choice but to act.” She also highlighted that the availability of resources is the key determinant of the retail sector of Seychelles. Since the retailers import most of the goods, the ones who have enough stocks make profits while the ones who aren’t able to restock their inventory are facing issues in meeting the consumer demand. In Seychelles, the crisis situation has caused a significant change in supply chain as well. Instead of purchasing from a middleman, customers are now given the option to cut out the middleman and directly purchase from the seller. Further discussing the grocery retail sector of Seychelles and its transformation during these unprecedented times, Veronique Laporte added that it is equally important to make sure that the retailers follow an ethical approach in doing their business. Although there are ample opportunities to exploit the consumer, conducting business in an ethical way is a moral responsibility of retailers. Moreover, it was discussed how the consumers are trying to be self-sufficient by growing crops in their home gardens in a sustained effort towards alleviating the impact of COVID-19 on essential food security. Customers now tend to purchase essential goods in bulk as they try to avoid the frequency of physical contact as much as possible. Obtaining goods without stepping foot into a brick and mortar store is one of the most important factors for today’s consumers. She believes that these new consumer habits formed during the pandemic will become innate behaviour of consumers across the world. Since Seychelles is mainly dependent on the tourism industry, the current situation has dealt a major blow to retailers whose target customers are tourists. Unlike essential goods sellers, they have no way to market their products. They share an overriding fear about the future as the revival of the tourism industry may take time. Veronique Laporte ended the discussion mentioning that although these are challenging times, if retailers can react with focus and purpose, they can bounce back stronger with better business models and forge a greater relationship with their customers. Roshan Fernando, President SLIM stated, “As the National Body for Marketing SLIM has always been in the forefront to promote and nurture future Sri Lankan marketers through education, recognition, motivation and appreciation. By conducting the Ignite video series SLIM was able to introduce eloquent and informed speakers who discussed the effects and the ways to overcome the adversities of COVID-19. The grocery retailing business was one of the important topics reviewed with strategies to comply with the new normal behaviour of consumers. The thought-provoking speech and the pragmatic strategies advocated by Veronique Laporte truly inspired marketers and business heads to take novel steps to restart their retail sales fields”. SLIM is the National body for Marketing in Sri Lanka and has been promoting marketing excellence and elevating the status of marketing since 1970. SLIM also has received ISO 9001:2015 certification in recognition of its superior quality management system and ISO 29990:2010 for Learning Service Provider (LSP), providing non-formal education and training services.

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A new experience themed on environment, wellness and literary interactions A new normal environment calls for a new normal experience, Colombo Fashion Week (CFW) curates a first-of-its-kind experiential retail interaction through knowledge in a responsible way. Titled CFW Retail Week, the three-week program is set to take place from 11^th September to 4^th October 2020 and focuses on weekly themes such as Fashion and Wellness Week, Environment and Conservation Week and Literary Week. This program is based on creative collaborations which brings about interesting retail interactions for guests and patrons; and it will be launched in association with One Galle Face and HSBC Sri Lanka. The month-long event program is a knowledge and engagement-based experience which includes expert talks on relevant themes and subjects, book readings and workshops, value added retail experiences, movie screenings, junior chef program, art workshop for kids, and special events like wine tasting and F&B demos. “To us the dynamic inside a contemporary mall environment is interesting and fascinating, we wanted to enhance the dynamics by bringing interesting creative collaborations so that knowledge is stimulated for patrons and adds value beyond just monetary. OGF is an iconic mall in Colombo and we could experiment this new concept because of their openness to collaborate on something new. Knowledge, entertainment and interactions is the basis of this experiential concept. I feel coming from a creative industry like fashion, experiential retail is a logical next step, and we are excited that OGF is partnering with us in this new concept. I am glad that our long-term partner HSBC continues our journey with Retail Week and will be introducing a new product,” said Mr. Ajai Vir Singh, Managing Director of CFW Holdings. One Galle Face is the venue and partner for this new retail experience. It is Colombo’s first internationally developed and managed mixed-use development project. At 480,000 square feet, the equivalent of eight football pitches, the One Galle Face Mall is the largest international mall in Sri Lanka. The seven-storey mall is home to more than 200 tenants and offer visitors an unparalleled shopping experience catering to their every need from in terms of dining, entertainment, beauty, technology and shopping. HSBC Premier Cards will be the main currency of CFW Retail Week’s especially curated shopping experience. “HSBC, the title partner of CFW for the 13^th year, which is the most sought-after fashion event in Colombo, is delighted to partner with its latest extension – CFW Retail Week. As our Premier customers are internationally minded and live international lives our endeavour is to make our refreshed HSBC Premier proposition truly a family affair and allow them to have an international experience right here in Sri Lanka which ties in well with the 3 weeks of activities planned during CFW Retail Week from 10^th September to 4^th October. We Invite our Premier customers to participate in the wide array of activities planned by the CFW team and encourage them to make a trip to One Galle Face Mall with their families and experience CFW Retail week which is packed with thought leadership sessions on Fashion, Environment and Literature whilst supporting the local designers who will also be part of the event,” said Tharanga Gunasekera, Head of Marketing and Communications, HSBC Sri Lanka. CFW Retail Week will craft knowledge and engagement-based retail experiences which incorporate talks and other events categorized into weekly themes. In today’s context, it’s important that all are sensitised towards the importance of our environment, and hence a week-long program has been created to build knowledge and awareness through workshops and talks to engage the audience. It is called Environment and Conservation Week, with key topics open to all, covering the impact of plastic by Dr. Anush Amarasinghe, Managing Director of BPPL Holdings PLC; marine conservation by Dr. Asha De Vos, Founder & Executive Director of Oceanswell; the leopard as an umbrella species for landscape-level conservation in Sri Lanka by Anjali Watson and Dr. Andrew Kittle, Co-Founding Trustees for The Wilderness & Wildlife Conservation Trust (WWCT) in Sri Lanka; and threats faced by sharks and rays in the Indian Ocean by Daniel Fernando, Co-Founder of Blue Resources Trust. In addition to this engaging retail experience, CFW will launch The Edit, an exclusive store space on Level 2 of the One Galle Face Mall where all participating CFW designers will retail their latest collections which were showcased on the runway in August. The Edit will be a dedicated store space for CFW designers to connect with a wider audience and retail their collections for a limited time at One Galle Face. Fashion & Wellness Week will include talks on fashion grooming by Fouzul Hameed, a well-known name in menswear fashion solutions; the role of batik in contemporary design by Darshi Keerthisena, Creative Director of Buddhi Batiks; Professional Etiquette by renowned Corporate Trainer Kumar De Silva; and Responsible Fashion & the Journey Towards Circularity by Ajai Vir Singh, Managing Director of Colombo Fashion Week. A Literary Week has also been curated with exciting book readings by celebrated Sri Lankan authors Ashok Ferrey, Shehan Karunatilaka, and Aartika Aurora Bakshi. Each author will read an excerpt of some of their fan favourite works, while Ashok Ferrey will unveil an excerpt from his upcoming new novel, “An Unmarriageable Man.” For more information on CFW Retail Week visit the official website www.colombofashionweek.com. Follow Colombo Fashion week on Instagram (@colombofashionweek) and Facebook (@colombofashionweek) for the latest updates, photos, videos and more.

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The Cabinet of Ministers has approved the proposal for compulsorily advertising the publicity programmes, to the value of 25% of the advertising and publicity budget of all government and semi- Government institutions from Sri Lanka Rupavahini Corporation, Sri Lanka Broadcasting Corporation, Independent Television Network of Sri Lanka, and the Associated Newspapers company Limited which are government media establishments; so that the state media institutions can be operated without any burden to the national budget. The relevant proposal was tabled in the cabinet meeting by the Minister of Mass Media, Keheliya Rambukwella.

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Sri Lanka’s only awards that recognize brands, the SLIM Brand Excellence Awards closed its entry submissions on 11 September. The deadline was extended by two weeks in response to the high demand of entry participants. The judging process will begin soon, and the final Award Ceremony will be in November 2020. Themed ‘Survive the Odds’, this year calls on brands to highlight their stories of resilience at the face of adversity. The awards will be given under 13 main categories, inclusive of 6 Main Awards and 7 Special Awards. The Brand Excellence Awards is one of the national level awards conducted by SLIM, the National Institute for Marketing in Sri Lanka, and it is the only local event that has continued to be the benchmark for brand performance. This year the event is held for the 19^th consecutive year.

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The Government has planned to issue legal documents to those who have occupied state lands without any formal documents. The Extraordinary Gazette in this regard was issued by the Land Commissioner General’s Department today (10). “In terms of the “Visions of prosperity and Splendour” policy statement, managing state lands at its optimum level to enhance investment opportunities, to promote local dairy production and to cultivate local food crops is one of the main objectives of the government. Accordingly, as an initiative to reach that goal, it has been planned to issue a legal document immediately in a transparent manner, to the persons who have develop the state land without a formal document aiming to ensure the clear title of the land to Sri Lankan citizens. There, duly identifying to persons who unauthorizedly occupy the state lands and confirming their eligibility, this program will be implemented to grant them a legal document to confirm their ownership,” it said.

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Huawei, the leading global technology solutions provider, recently hosted the “Huawei Golf Tournament 2020” in Sri Lanka, ushering a monumental partnership with the country’s golf game. In its latest foray into sports inclusion in Sri Lanka, Huawei ran the two-day Golf Tournament at Sri Lanka’s historic golf venue-the Royal Colombo Golf Club. Commenting on the recent successful Huawei Golf Tournament, Peter Liu, Country Head of Huawei Devices Sri Lanka, said: “We are highly delighted to partner with the tradition of Sri Lanka’s golf game that spans almost 140 years in the country. Golf is one of the most fascinating sports in the world and we are pleased to note that the Huawei golf exposition was an event filled with fun, entertainment and great sportsmanship. As a socially responsible brand, we aim to support the emerging sports talent and help them to gain due recognition. We will continue to support Sri Lanka’s Golf as part of our shared vision in enhancing the country’s sports engagement and our community outreach.” Attended by over 300 participants, the path-breaking Huawei Golf Tournament featured categories as Masters, Handicap, Senior and Ladies. Sachin De Silva led the Tournament leaderboard emerging as the overall Gross winner within all A, B, C divisions while Holiang Jiang was the overall NETT winner within all A, B, C divisions. The NETT winner of the 0-9 Handicap event in division A was A. A Mahinda (71 NETT B/B 9) while Kushal Johnpillai (71 NETT) was the runner-up. Sachin De Silva (72 Gross) won the Handicap 0-9 Gross in division A. Gerard Fernando (66 NETT) won the Handicap 10-18 NETT in division B and also 10-18 Gross in division B while Reshan Algama (67 NETT B/B 9) was the runner-up in the same category. Houliang Jiang (64 NETT) won the handicap 19-28 NETT event under division C while Ehantha Sirisena (65 NETT) was the runner-up. He also emerged victorious in the Handicap 19-28 Gross in division C with 84 Gross scores. Prasanna Goonatileke (68 NETT) was the winner of Senior NETT category while Ranjit Perera (71 NETT B/B 9) was the runner-up and Sarath Wickramaratne (84 Gross B/B 9) won the Senior Gross event. In the Masters category, Lal Dias (66 NETT) was the winner of both Masters NETT and Masters Gross events while B.M.R Preena (67 NETT) was the runner-up in the Masters NETT. In the Ladies category, Yun Jeong Choi was the winner of both NETT and Gross events while Jin Park was the runner-up in Ladies Gross event. The golf spectators who arrived in numbers for the Tournament were treated to a surprise-a stunning display of Huawei’s latest hand-held devices. Among them, the recently launched Huawei P40 Pro, Huawei MateBook X Pro and Huawei MatePad Pro were top attractions. In addition, Huawei’s latest range of Smartphones, laptops, wearables and many other products were on display. The spectators who strolled through the excitement filled display zone were provided with technical consultancy services on Huawei devices as well. The leading global provider of information and communications technology (ICT) infrastructure and smart devices Huawei is committed to bring new technology to every person, home and organisation for a fully connected, intelligent world. As a global tech giant, Huawei has been duly recognized at renowned awards ceremonies and been constantly featured in global brand rankings. Huawei was ranked 45^th on BrandZ Top 100 list of Most Valuable Global Brands, 79^th on Forbes World’s Most Valuable Brands while the company featured among top 10 most valuable brands in the latest Brand Finance Global 500 Most Valuable Brands list. Huawei has also achieved the 68^th position on Interbrand’s Best Global Brands and was also featured in Fortune’s Global 500. Photo Caption: Huawei Golf Tournament teed off in Sri Lanka

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The airline will re-start passenger services to Moscow starting 11 September, taking its global network to 85 cities Emirates will re-start passenger services to Moscow Domodedovo Airport (DME) with two flights a week, starting 11 September. The resumption of flights to Moscow will take the airline’s expanding network in Europe to 26 cities – offering Emirates’ global customers with more travel options to Europe, and customers in Russia with renewed connections to the Middle East, Asia Pacific and Africa via Dubai. Emirates has been gradually restoring its network connectivity, working closely with international and local authorities to responsibly resume passenger operations to meet travel demand, while always prioritising the health and safety of its customers, crew and communities. The addition of Moscow will take Emirates’ global network to 85 cities in September. Flights to Moscow will operate twice a week – on Fridays and Saturdays. On Fridays, Emirates flight EK 133 will depart Dubai at 10:10hrs and arrive in Moscow at 14:25hrs local time. The return flight, EK 134 will depart Moscow at 17:35hrs and arrive in Dubai at 23:35hrs local time. On Saturdays, Emirates flight EK 131 will depart Dubai at 16:15hrs and arrive in Moscow at 20:30hrs local time. The return flight, EK 132 will depart Moscow at 23:20hrs and arrive in Dubai at 05:30hrs local time, the following day. The flights will operate with the Emirates Boeing 777-300ER and can be booked on emirates.com or via travel agents. Travelers can also enjoy enhanced connectivity via Emirates’ codeshare partner in Russia, S7 Airlines – providing greater access to a range of regional destinations. Customers can stop over or travel to Dubai as the city has re-opened for international business and leisure visitors. Ensuring the safety of travellers, visitors, and the community, COVID-19 PCR tests are mandatory for all inbound and transit passengers arriving to Dubai (and the UAE), including UAE citizens, residents and tourists, irrespective of the country they are coming from. Destination Dubai: From sun-soaked beaches and heritage activities to world class hospitality and leisure facilities, Dubai is one of the most popular global destinations. In 2019, the city welcomed 16.7 million visitors and hosted over hundreds of global meetings and exhibitions, as well as sports and entertainment events. Dubai was one of the world’s first cities to obtain Safe Travels stamp from the World Travel and Tourism Council (WTTC) – which endorses Dubai’s comprehensive and effective measures to ensure guest health and safety. Flexibility and assurance: Emirates’ booking policies offer customers flexibility and confidence to plan their travel. Customers who purchase an Emirates ticket by 30 September 2020 for travel on or before 30 November 2020, can enjoy generous rebooking terms and options, if they have to change their travel plans due to unexpected flight or travel restrictions relating to COVID-19, or when they book a Flex or Flex plus fare. More information here. 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. Health and safety: Emirates has implemented a comprehensive set of measures at every step of the customer journey to ensure the safety of its customers and employees on the ground and in the air, including the distribution of complimentary hygiene kits containing masks, gloves, hand sanitiser and antibacterial wipes to all customers. For more information on these measures and the services available on each flight, visit: www.emirates.com/yoursafety. Tourist entry requirements: For more information on entry requirements for international visitors to Dubai visit: www.emirates.com/flytoDubai. Dubai residents can check the latest travel requirements at: www.emirates.com/returntoDubai.

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Mahiyanganaya, (a Pali word when translated means flatland) is an ancient city steeped with natural beauty, coupled with great historical and cultural significance, unknown to many travellers. The city features large open spaces of land, lush grasslands, arable land, picturesque lakes and manmade reservoirs against the backdrop of large mountainous terrains of the central hills. Supporting the region’s agricultural economy, the longest river in Sri Lanka, the Mahaweli flows through this beautiful city, replenishing and nourishing its abundant plant, animal and human life. Steeped in historical significance Historic chronicles of ancient Sri Lanka in the Mahawansa reveal that Lord Buddha visited the Mahiyanganaya Raja Maha Viharaya on his first visit to the island on a Duruthu (January) full moon Poya day to resolve a dispute between pre-historic inhabitants belonging to the Yaksha, Naga and Deva tribes. Today, this temple is regarded as one of the 16 most sacred temples in the country and is declared as an archaeological site. Rich in culture Located about 19 km off Mahiyanganaya, in Dambana bordering the Maduru Oya sanctuary lies one of the world’s oldest aboriginal tribes, known as the ‘Vedda’ community. A minority population of about 1000 individuals at present reside enjoying the natural habitat, seclusion and protection of the forests. Peek into the unique culture and traditions of these indigenous people and observe how they hunt and gather, cook in open-air fires, collect bees-honey, engage in traditional song and dance – a few of the rare opportunities to be witnessed whilst in Mahiyanganaya. An abundance of nature and wildlife Situated within a short 30min drive lies Rathna Ella waterfall, a truly mind-blowing experience accompanied by a scenic hike of about 3km both ways. The hike is about 1.5hours in duration and takes one through lush paddy fields, forests and streams leading up to the awe-inspiring waterfall that gushes in drapes of water, a truly serenely experience worth the effort. Moreover, the Wasgamuwa and the Maduru Oya National Parks are located within an hour’s drive from Mahiyanganaya. Both national parks are home to numerous wildlife species from over 100 species of birds to herds of elephants, the purple-faced langur monkeys, wild boar, sambar, spotted deer, buffalo including leopards and sloth bears on rare occasions. Take a boat safari over Sri Lanka’s largest lake, at the Gal Oya National Park and discover elephants swimming between islands and exceptional birdlife including migratory birds that swell their ranks from December to April. A spectacular drive Situated approximately 5 hours (about 245km) from the capital city of Colombo, the drive to Mahiyanganaya is yet another spectacular experience. The popular Mahiyanganaya- Kandy road can be accessed through the historical city of Kandy. Commonly referred to as the ‘road that needs both your hands on the wheel all the time’ or the ‘daha ata vanguwa’ in Sinhala is a winding road with 18 arduous hairpin bends leading up to Mahiyanganaya. A 41km stretch through the 18 bends, is a challenging yet scenic drive with a couple of lookout points on top of the mountains gazing down to the beautiful valley of Mahiyanganaya. During a road redevelopment conducted in 2011, the number of hairpin bends was reduced to 16 from 18, yet it continues to be a very popular drive among tourists and local travellers alike. The base for an adventurous road trip Another interesting aspect about Mahiyanganaya is that it is a central location that connects a traveller to many other tourist destinations of interest within a drive of 2-3hours from Mahiyanganaya, making it an ideal base for an adventurous road trip of Sri Lanka. Mahiyanganaya is situated within 1.5hours from Ella, 2hours from Kandy, Nuwara Eliya, Polonnaruwa, Sigiriya and Dambulla and within 2-2.5 hours from Yala and Arugambay. Experience the best of Mahiyanganaya with Mapakada Village Situated just 15mins away from the Mahiyanganaya town lies the secluded getaway – Mapakada Village, a sprawling property overlooking the serene Mapakada Lake with an abundance of natural beauty and wildlife. Mapakada Village is a four-star contemporary resort with tasteful elements that pay homage to its locale. The resort has a large garden with numerous flora and fauna including an infinity pool overlooking the lake. It comprises of 14 well-appointed rooms with views of the garden, infinity pool, wildlife and the lake. It is an ideal retreat for individuals, couples, families and friends seeking to have a memorable holiday away from the busy city life amidst the solitude of nature and an array of unique experiences. “Mahiyanganaya is truly a spectacular city that is not widely spoken of. It is a locale that has something for everyone. If you’re looking for adventure, nature, wildlife, history, culture or simply a relaxing holiday – Mahiyanganaya has got it all. At Mapakada Village we carefully curate our guest experiences to allow guests to immerse in what Mahiyanganaya truly is. Our ‘wewa addara’ lake fish restaurant is a speciality restaurant that serves traditional Sri Lankan style dishes on a Banana leaf that enhances the flavour of the food, for example. We also offer the guest the flexibility to dine anywhere they like, at the restaurant, lunch by the lake, on a treetop, high tea and picnic by the lake, sunset cocktails, barbeque under the stars, breakfast in bed or on a boat –anywhere and in any setting, they prefer. The resort is designed to give guests the privacy and seclusion they seek whilst being attentive to their individual needs. We also arrange for excursions to many places of interests from the magnificent Rathna Ella waterfall, village tours to game safaris and more. Our staff is ready to welcome you to experience Mahiyanganaya with Mapakada Village” Said Mr Kumudula De Silva, Managing Director, Mapakada Village. To find out more about how to book your next holiday at Mapakada Village, call our reservations team on +94 777 926 790 or email reservations@mapakadavillage.lk and avail yourself of a special discount with the offer code ‘MVPR20’.

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The Cabinet of Ministers has approved the proposal tabled by Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance, to award the contract of supplying LPG empty metal gas cylinders to Litro Gas Lanka Limited to two Thai companies. Accordingly, the supply of 22,000 cylinders under the category of 2.3 kilograms, 105,056 cylinders under the category of 12.5 kilograms, and 1.260 cylinders under the category of 37.5 kilograms for an amount of US $2.18 million have been awarded to M/s. Metal Mate Co. Ltd and the supply of 117,040 cylinders under the category of 5 kilograms for an amount of US $ 1.58 million has been awarded to Sahamitr Pressure containers Public Co.Ltd.

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The Government has taken a policy decision to recommence oil and gas exploration, Co-Cabinet Spokesperson Udaya Gammanpila stated. “The Government has taken a policy decision to restart oil and gas exploration. This had been abandoned for many years. Accordingly, a policy on natural gas has been formulated. It is an essential factor in attracting investors. At this week cabinet’s meeting, it was decided to appoint Mr. Surath Ovitigama, as the Director-General of the Petroleum Resources Development Secretariat and Mr. Saliya Wickramasuriya as an advisor.” he stated. In 2016, a joint study agreement (JSA) was signed with the French energy major Total SA, the third-largest oil importer in Europe, to explore two blocks off the country’s east coast and also it was decided to award an exploration block to Bona Vista Energy, a Singapore based firm. Earlier, Cairn Energy, which struck gas in North Western Sri Lanka in the deep sea however did not develop the field.

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Fitch believes Pakistan will start to lower its public debt-to-GDP ratio in 2022 under its IMF-supported programme, but projects a sustained increase for Sri Lanka throughout 2020-2022. Economic growth will turn positive for Asia in 2H20, but the process of fiscal consolidation is set to be more protracted for the region, says Fitch Ratings. The majority of rated sovereigns in the Asia Pacific (APAC) will see a sustained increase in general government (GG) debt as a share of GDP in 2020-2022. This is in line with our expectations for many other parts of the world, reflecting the lingering fiscal impact of the coronavirus pandemic and the efforts to counter it. Many Asian economies entered 2020 with fiscal policy space (relative to rating peers) to counter an unexpected downturn, such as Indonesia (BBB/Stable), Korea (AA-/Stable) and New Zealand (AA/Positive). We have also indicated that rating decisions centred on the fiscal outlook will be guided in part by sovereigns’ record of fiscal consolidation in more favourable economic conditions. In some cases, failure to lower public debt-to-GDP ratios as the health crisis subsides could add pressure on ratings. The economic recovery will lift fiscal revenues and gradually reduce the need for crisis-related spending. Nevertheless, we expect public debt to continue to rise as a share of GDP for more than half of our rated APAC sovereigns in both 2021 and 2022. This group includes some of the region’s biggest economies: China (A+/Stable), Japan (A/Negative), Korea, Australia (AAA/Negative) and Indonesia. “Within South Asia, we currently forecast that India’s (BBB-/Negative) ratio of GG debt-to-GDP will stabilise in the fiscal year ending March 2022 at just above 85%, from around 70% before the coronavirus shock, as its economy recovers from a steep downturn. There is uncertainty about the outlook, however, relating to India’s post-pandemic growth potential and fiscal policies. Both Pakistan (B-/Stable) and Sri Lanka (B-/Negative) have GG debt-to-GDP levels above the median for their rating peer group. We believe Pakistan will start to lower its public debt-to-GDP ratio in 2022 under its IMF-supported programme, but we project a sustained increase for Sri Lanka throughout 2020-2022,” Fitch stated. “In contrast, we expect Malaysia (A-/Negative) to make progress on fiscal consolidation throughout 2021-2022, as oil prices rebound and an economic recovery facilitates the roll-off of temporary stimulus measures implemented to cushion the pandemic’s effects. Mongolia (B/Stable) will also cut public debt as a share of GDP, from an estimated 69.9% in 2020 to 61.5% in 2022, with economic growth and government revenues underpinned by rising mineral exports.” it added. “The medium-term fiscal outlook will be an important consideration in our rating assessments and in some cases, a lack of progress on fiscal consolidation after the sharp deterioration in public finances in 2020 could affect creditworthiness. That said, our economic forecasts for Asia, as elsewhere, remain subject to a high degree of uncertainty, due to the evolution of the pandemic. Geopolitical risks, in particular trade tensions between the US and China, could also affect regional supply chains,” Fitch further stated. Nearly all of the eight APAC sovereigns on Negative Outlook could be vulnerable to downgrades if their public debt-to-GDP levels were to deteriorate further over the medium term. The exception is Macao (AA/Negative), which has no public debt and whose Negative Outlook reflects the territory’s increasing economic and socio-political linkages with lower-rated mainland China.

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Innovative virtual and custom testing platform allows central banks to evaluate use cases and test roll-out strategies for CBDCs by simulating a CBDC ecosystem
Central banks, commercial banks, and tech and advisory firms invited to partner with Mastercard to evaluate the suitability of CBDCs in a country or region

With the global economy racing to embrace digital payments, central banks also are looking to the future and investigating how to support innovation while maintaining monetary policy and financial stability as they issue and distribute currency. In fact, 80 percent of central banks surveyed are engaging in some form of Central Bank Digital Currencies (CBDCs) work, and about 40 percent of central banks have progressed from conceptual research to experimenting with concept and design, according to a recent survey by the Bank for International Settlements. Recently, Mastercard announced a proprietary virtual testing environment for central banks to evaluate CBDC use cases. The platform enables the simulation of issuance, distribution and exchange of CBDCs between banks, financial service providers and consumers. Central banks, commercial banks, and tech and advisory firms are invited to partner with Mastercard to assess CBDC tech designs, validate use cases and evaluate interoperability with existing payment rails available for consumers and businesses today. Mastercard is a leader in operating multiple payment rails and convening partners to ensure a level playing field for everyone – from banks to businesses to mobile network operators – in order to bring the most people possible into the digital economy. Mastercard wants to harness its expertise to enable the practical, safe and secure development of digital currencies. “Central banks have accelerated their exploration of digital currencies with a variety of objectives, from fostering financial inclusion to modernizing the payments ecosystem,” said Raj Dhamodharan, Executive Vice President, Digital Asset and Blockchain Products and Partnerships, Mastercard. “Mastercard is driving innovation with the public sector, banks, fintechs, and advisory firms in the exploration of CBDCs, working with partners that are aligned to our core values and principles. This new platform supports central banks as they make decisions now and in the future about the path forward for local and regional economies,” Dhamodharan added. Sheila Warren, Head of Blockchain, Digital Assets and Data Policy at the World Economic Forum, said: “Collaborations between the public and private sectors in the exploration of Central Bank Digital Currencies can help central banks better understand the range of technology possibilities and capabilities available with respect to CBDCs. Central banks can benefit from support in exploring the option set available to them with respect to CBDCs, as well as gaining insight into what opportunities may be forthcoming.” CBDCs are designed to be equivalent in value to a nation’s paper currency and subject to the same government-backed guarantees. In addition to printing money, central banks can issue CBDCs as a digital representation of a country’s fiat currency. Driving Scalable Innovation While a variety of potential operating models exist, the primary approach sees central banks issuing and distributing currency, including digital currencies, through commercial banks and other licensed payments providers. Mastercard understands every central bank differs in its exploration of CBDCs, and the platform stands ready to explore whether CBDCs fit with the needs of a region or country. The virtual platform can be individually customized to the environment in which the central bank operates, allowing them to:

Simulate a CBDC issuance, distribution and exchange ecosystem with banks and consumers, including how a CBDC can interface with existing payment networks and infrastructures – e.g., cards and real time payments.
Demonstrate how a CBDC can be used by a consumer to pay for goods and services anywhere Mastercard is accepted around the world.
Examine various CBDC technology designs and use cases to more quickly determine value and feasibility in a market.
Evaluate CBDC development efforts including the technical build, security and early testing of the design and operations.

Central Bank Digital Currencies of the Future Mastercard is committed to supporting central banks in their chosen path to modernize payments as they look for solutions that seamlessly integrate with existing ways to pay. The company is committed to forging partnerships between public and private sectors to together transform the way people and businesses transact.

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Appoints Frontier Capital lead Nishan Sumanadeera as legal and financial consultant to restructure and to restore confidence among foreign investors Amidst ongoing negotiations between key Japanese and Malaysian investors of Sri Lanka’s one of the pioneering investment bank – Asia Capital PLC (ACAP), the company has recently stepped into appoint a legal and financial consultant to restore confidence among the investors to undergo a prudent restructuring process of the group’s assets in order to create more value for investors. Further the move is anticipated to position Asia Capital group’s future direction. Accordingly in an official letter Asia Capital PLC has appointed Frontier Capital Partners, a firm headed by renowned Investment Banker Nishan Sumanadeera as the legal and financial consultant to head restructuring and to restore confidence among foreign investors of Asia Capital PLC. “We have appointed Mr. Sumanadeera to relook at our assets portfolio and we are confident that he will guide the future direction of the Asia Capital group to add value and to drive innovation to the original investments made by the foreign investors in the company” Executive Director of Asia Capital PLC, Stefan Abeyesinhe said. “We will also look at further diversification going forward as a group into new sectors. Financial services would be a main focus along with shipping, logistics and imported substitution related industries” Abeyesinhe added. Speaking on the appointment of Frontier Capital Partners, Nishan Sumanadeera went on to say that he will relook at Asia Capital’s best assets and financially re-engineer them to be the key revenue generating assets to sustain the balance sheet and will make sure the foreign investor confidence will remain strong, robust and certain in Sri Lanka and especially in Asia Capital PLC. Sumanadeera had already previously worked for Asia Capital PLC prior to his retirement from the Sri Lanka’s pioneering investment banking group in 2009 before the current senior management was appointed. “The investors of this company has entrusted their confidence in me and Frontier Capital team’s financial and legal guidance to make sure Asia Capital will be positioned back to the place it had during the golden days of Investment Banking in Sri Lanka, when Asia Capital was the House that raised the Financial Whiz-Kids of this country” Nishan Sumanadeera assured. “As a progressive, visionary corporate entity, at Asia Capital we focus our every effort on creating exceptional value for our stakeholders, ensuring the foreign investment in Sri Lanka remain for the robust growth of our economy in these turbulent times to press ahead with confidence, and move into the future” Sumanadeerras said adding that their longstanding expertise, industry knowledge, diverse portfolio and unmatched skills ensure ACAP remain relevant and competitive, enabling them to champion wealth creation for shareholders and customers through unmatched investment opportunities in leisure, project management, investment banking, advisory services, property management, real estate, asset management and information technology. “We are always ready to add to our ever expanding tapestry of spheres, aligned to our business strategies” Sumanadeera added. Meanwhile in an official letter released to Colombo Stock Exchange (CSE) earlier Asia Capital PLC’s Executive Director Stefan Abeyesinhe has clarified the contents of a media report published recently. In the letter Abeyesinhe points out that “While certain investors have expressed their concerns with respect to Asia Leisure Sector, no details or particulars of any ‘malpractices by senior management (which are denied) were proved or substantiated”. He further notes that in fact two Japanese nationals representing the Japanese investors were and are in the boards of directors of ACAP and that currently there are discussions carried on an amicable manner with respect to some of the subsidiaries and associated companies of Asia Capital PLC. Nishan Sumanadeera is renowned in Sri Lanka as the post war era emerging investment banker turned Attorney and Double Qualified Accountant and his company Frontier Capital Partners has transferred some of the country’s prominent group companies to conglomeration in the post war era from 2009 to 2019, in a decade. Sumanadeera is a multifaceted professional with over 20 years of experience in investment banking, corporate law and accounting whilst he and his investment bank Frontier Capital Partners had been instrumental and facilitated the conglomeration conversion of three major companies – Lankem Group, LOLC Group and Softlogic Group – in post-war Sri Lanka from 2009-2013. Frontier Capital Partners led by Sumanadeera and team in 2009 facilitated the C.W. Mackie sale for Lankem Group worth over Rs. 1.4 billion, in 2010 Confifi Hotel Group sale for LOLC and Browns group worth Rs. 2.5 billion and in 2011 Softlogic Holdings’ proposed acquisition of Asian Alliance Insurance worth over Rs. 3.3 billion and in 2013 a placement of 10% shareholdings of National Development Bank (NDB) for a consortium of investors including the Softlogic Group. Asia Capital PLC, started as a Securities trading company in the early 1990s, specializing in stock brokering, the and later expanded its business portfolio to encompass the larger share of the investment banking market in Sri Lanka. As Asia Capital PLC (ACAP), company ventured into diverse industries and sectors to fulfil the vision and become a powerhouse providing value-added investment opportunities and unmatched wealth creation services. Currently, operations consist of leisure, project management, investment banking, and advisory services. Asia Capital also have a presence in property management, real estate, asset management and information technology services. Asia Capital PLC’s 76% is owned by Malaysians whilst 16% is owned the Japanese investors.

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Sri Lanka’s rubber sector needs more investments, private and public, foreign and local, and thereby common industry infrastructure facilities will improve, Samson International PLC (SIL), one of the largest rubber product manufacturers in Sri Lanka stated. “Sri Lanka’s natural rubber has a high-demand in the world market due to its unique properties. The country now has a premium quality natural rubber type known as Lankaprene which is odour free to a certain extent, light coloured, and clean which is ideally suited for medical equipment and upmarket value added products. The competent workforce with right attitudes and training will be more productive resulting enhanced earnings and lower turnover making the rubber industry more attractive for employment. The rubber sector needs more investments, private and public, foreign and local, and thereby common industry infrastructure facilities will improve. Collaboration among industry players in precompetitive areas will lead to synergistic effects in industry operations,” Samson International PLC told its shareholders in its annual report 2019/2020. Sri Lanka’s rubber industry is positioned as the fourth largest source of foreign exchange for the country accounting for approximately 8% of export income. Samson International PLC, which is a subsidiary of the DSI Samson Group (Pvt) Ltd earns more than Rs. 600 million per year from exports of rubber- related products such as sealing rings, hot water bottles and mats & floorings etc. Sri Lanka exports almost all types of natural rubber available in the market including ribbed smoked sheet rubber, latex crepe rubber, scrap crepe, all grades of technically specified rubber, centrifuged latex and specialty rubbers. Presently, Sri Lanka produces around 81,000 metric tons of natural rubber annually. Sri Lanka prides itself in manufacturing a number of value added rubber products by processing raw rubber. These products include extrusion products like rubber bands, beadings, rubber latex products such as medical, industrial and household gloves, industrial products like hose, auto parts, industrial components, tyres, tubes, automotive and aviation tyres and general rubber products like rubber flooring, floor mats, carpets, sports goods, footwear, hot water bottles and related components. “Around 60% of the total raw material cost of our products come from rubber. Therefore we always monitor rubber prices. There are fluctuations in rubber prices due to the changes in crude oil prices which pushup the synthetic rubber. If the crude oil prices goes up, the demand for natural rubber is expected to grow as China and other major consuming countries are expected to begin limiting synthetic rubber imports and instead opt to source natural rubber for their end products,” the company stated. However, the company believes that during the next six months the situation might change due to the disruption from the coronavirus in China and the price could also change from time to time depending on the weather pattern in Sri Lanka and other competing countries. In the 38th week ( Mid of October ) of 2019, the rubber price started increasing above the rubber prices of 2018. The pale crepe price at the end of March in 2018 and 2019 are Rs. 253 and Rs. 344 respectively. This is an increase of Rs. 91 or USD 0.5 per Kg.

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Sri Lanka will introduce PayPal online payment solution, once some national security issues are resolved, Co-Cabinet Spokesman Udaya Gammanpila stated. Speaking at the cabinet media briefing yesterday (10), Gammanpila stated that as a Computer Engineer in profession, he strongly supports the establishment of this payment giant in Sri Lanka. But currently, there are two main reasons affecting this decision; terrorism funding and money laundering. “Our Defense Secretary assured that terrorism which rose again during the previous government is being completely crushed.” “Most of the black money comes from illegal drug businesses. Sri Lanka has become a drug hub during the past years. But, since the government is eradicating the illegal drug businesses in a speedy manner, once it is done we will be able to provide this facility. The drug business is done within the country through Ez cash, so if they have PayPal they can do business on an international level.” “As a Computer Engineer in profession I strongly support the establishment of this payment giant in Sri Lanka. But, national security is the number one priority. We will introduce this online payment solution, once some national security issues are resolved,” he stressed. Meanwhile, joining Ada Derana ‘Big Focus’ programme yesterday (10) Director of the Payments and Settlements Department of the Central Bank, D Kumaratunga also expressed the following. “The Central Bank is continuing communication with regional PayPal officials to obtain the PayPal facility to Sri Lanka. They have informed us that once the COVID-19 Pandemic ends they will come to Sri Lanka to discuss this matter further,” he said.

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Mobilizing key pillars of the community for a worthy cause, and engaging with people from all walks of life to embrace a commitment to PET plastic recycling, Coca-Cola, along with implementing partner SEVANATHA Urban Resource Center and its official recycling partner Eco-Spindles Pvt. Ltd (subsidiary of BPPL Holdings PLC) launched the first-ever PET plastic recycling programme in temples across Sri Lanka. Temples were selected as a strategic location for this initiative because these are spiritual centers and popular community hubs, where local communities gather often. The project was launched on 1 September 2020 at the sacred Gangaramaya Temple, with the blessing of Ven. Kirinde Assajii Thero. The priests who graced the occasion also provided blessings for the project to prosper, and conveyed the benefits of Coca-Cola’s ‘Give Back Life’ PET plastic recycling project to the distinguished audience. Coca-Cola will distribute 120 PET plastic collection bins of 50 Kg capacity each amongst 40 prominent temples across 5 provinces so that religious leaders, devotees, students of Dhamma schools, and the general public can all join in this PET plastic recycling movement. The programme also entails a large-scale awareness program targeted at these groups to disseminate information on the benefits of PET recycling as a sustainable solution. “This project is immensely important for SEVANATHA, as it gives us an opportunity to make people aware of the proper disposal of PET plastic waste that would lead to a change in behaviour. Society’s development is dependent on these changes and we cannot expect progress unless communities come together to change their usual way of life’– K.A. Jayaratne – President – Sevanatha Urban Resource Center A large amount of PET plastic is generated in popular temples which witnesses high footfalls daily, during the Full Moon Poya Day monthly and during functions organised by the temple. This recycling initiative is expected to have a deep impact by encouraging temples to segregate plastic waste appropriately and prevent PET plastic from being burnt or buried at the temple premises or polluting nearby lands creating serious environmental damage. SEVANATHA will work closely with Temple Management Committees to ensure the long term sustainability of the programme through the appointment of bin caretakers and coordination with waste collectors who will transport the PET to the recycler Eco-Spindles Pvt. Ltd who will then transform the PET plastic into value added products such as polyester yarn for apparel and monofilaments for brush manufactures worldwide. “We are happy to partner with Coca-Cola again on an innovative recycling initiative in temples in Sri Lanka. Not only will this program significantly increase public awareness on responsible disposal of PET packaging, collection and recycling into value added products by us, it will also give rise to new industries, employment opportunities and cleaner cities. – Dr. Anush Amarasinghe – CEO/MD – BPPL Holdings PLC/Eco Spindles By partnering various sections of society, Coca-Cola is moving closer to fulfilling the goals of its overarching signature waste management programme – “Give Back Life”. “The Coca-Cola Give Back Life Program is committed to finding new and improved ways to recover and recycle PET bottles. We are excited to partner with SEVANATHA, and our trusted long-term recycling partner Eco-Spindles Pvt. Ltd. for this brand new initiative that targets the most common place of gathering for communities in Sri Lanka. Give Back Life’s PET recovery and recycling efforts is a real sustainable solution to fill infrastructure gaps in waste management in Sri Lanka. ” – Lakshan Madurasinghe – Director – Public Affairs, Communications and Sustainability- Coca-Cola Beverages Sri Lanka Ltd. Coca-Cola strongly advocates that post-consumed PET plastic has inherent ‘value’ and cannot be categorized as ‘waste’, as it is a 100% recyclable and can create value-added products. Give Back Life also contributes to creating a circular economy, increasing export earnings, and expanding livelihood opportunities for local communities. Around the world, Coca-Cola is committed towards helping create a ‘World Without Waste’ by collecting and recycling the equivalent of 100% of its packaging sales by 2030. Photo Caption: Priest at the Gangarama temple, ceremoniously launches the PET collection and recycling initiative in temples, following his blessing for the initiative

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Spacious, Flexible and Affordable Private Offices; ideal for Startups and Small Enterprises GrandSpace will be extending their services to Astoria-Colombo, located at the heart of the city center by providing best of services and better accessibility to their wide variety of clients at a prominent location in the center of Colombo. This will be the second venture of GrandSpace in providing extensively serviced office spaces; including virtual offices, meeting rooms and fully facilitated day offices to co-working spaces. The first project in Kohuwala continues to accommodate numerous small enterprises and entrepreneurs mastering in varying fields of commerce with a range of affordable and flexible options. The latest locale at Colombo 03 will make the new centre one of the most sought after locations in the city hub, offering upgraded facilities worthy of the dynamic business lifestyle one craves for. GrandSpace – Astoria accommodates a total number of 40 exclusive private office spaces, consisting of 120 stations and 80 co-working seats in complete. A standard office space can easily house from a single person to a team of 06 in total. These offices are fully furnished and lodge all essential infrastructure to run work efficiently and smoothly; such as direct telephone connections and Wi-Fi, as well as personalised reception service. The virtual offices too, provide clients with the primary official address of Colombo 03 locality for mailing purposes as well as other business criteria. Clients are provided with a dedicated phone line as well, thus opening an opportunity for the client to maintain their private office, without the hassle of managing a physical office space. The dynamic co-working spaces designed in this stark upgraded environment ensures that the young entrepreneur, an emerging startup or casual employee is given the privilege to network and multitask and work in freedom when the need arises. All these serviced solutions are provided with 24/7 electricity, comfortable air-conditioned spaces, a grand lobby area, efficient reception service as well as basic facilities such as call operator facility, in-house tea/coffee service, housekeeping, 24/7 CCTV surveillance, ample parking, a dining area and Resting bays for a quick power-nap or midday quiet time, along with other services at an affordable rate. For small businesses, the flexibility in office spaces provides the deciding factor for a new venture and a professional venue; budget friendly with no hassle for furnishing or infrastructure, which is already provided by GrandSpace. Startups and entrepreneurs can pick their space according to their number of employees, as well as duration of the occupancy period, which ranges from a day office to a monthly or annual agreement as per the client’s wish. “Our key offering is the fact that our space solutions can be flexible according to our client’s need. With the downsizing of large offices and off-site working that is currently taking place in many companies, the serviced offices at GrandSpace are an ideal solution where small teams can be housed in a flexible manner. GrandSpace is the answer for those who are uncomfortable with crowded offices and ones who are working from home due to health safety reasons. Anyone can opt for a seat here, where you are entitled to your own office space which is professional, yet private and safe,” stated Samila Maddumage, Director of GrandSpace. Furthermore, he adds,“Serviced office spaces are now high on demand due to their capability of making life much more easier for companies than early days, whereas they will be taking large areas on rent or lease or will have to invest on new infrastructure to expand their business or for the beginning of a new venture. At GrandSpace all these come ready at hand and all you have to do is ‘plug and play’.” GrandSpace in Astoria Colombo is now open for business, and further details can be obtained via https://www.grandspace.xyz

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