Finance in Brief
Six mobile technology teams to pitch startups
August 3 will be the culmination of an intensive six-week startup
incubator run by the Massachusetts Institute of Technology’s
Accelerating Information Technology Innovation Initiative (MIT AITI) in
collaboration with the University of Moratuwa (UoM).
Six teams of young entrepreneurs from UoM are to pitch their mobile
software startups before an audience from industry, academia and
government to attract seed funding and ultimately build sustainable and
profitable enterprises. The potential of these startups is so great that
all three of Sri Lanka’s major mobile operators - Dialog, Mobitel, and
Etisalat are co-sponsoring the event to serve as a catalyst for
technology entrepreneurship in Sri Lanka.
Our program, said Lead Entrepreneurship Instructor with MIT AITI
Samidh Chakrabarti, is meant not only to produce companies, but also to
increase innovator and investor confidence in a market whose time has
NDB Bank opens branch in Wariyapola
Senior Minister S.B. Navinna opened
NDB Bank’s Wariyapola branch. NDB Bank’s Regional Manager,
Indika Thennakoon, Vice President - SME and Retail Banking
Raj Aboobucker, Chief Operating Officer Indrajit
Wickramasinghe, and Manager - Wariyapola Branch Pulasthi
Akalanka were also present.
AGM of SLINTGL
President SLAITO, Nilmin Nanayakkara
addresses the SLINTGL AGM.
The Sri Lanka Institute of National Tourist Guide Lecturers (SLINTGL)
has rendered a yeomen service in creating a positive and indelible image
among visitors to the country, said President Sri Lanka Association of
Inbound Tour Operators (SLAITO), Nilmin Nanayakkara was addressing the
43 Annual General Meeting of the SLINTGL recently.
He said the institution has proved its value as a great force to
attract tourists and has stood the test of time. SLINTGL’s contribution
to tourism is noteworthy.
Lankan firm to supply plant tissue culture to Qatar
Director of Qatar Biotechnology Centre
Masoud al Marri and Director of Serendib Horticulture
Technologies Co. Dilip de Silva shake hands after signing
Serendib Horticulture Technologies Co. signed a $ 150,000 agreement
recently with Qatar Biotechnology Centre (QBC) under the Ministry of
Environment (MoE) for a project of plant tissue culture of 17 species in
The agreement was signed by the Director of the Centre Masoud Al
Marri and the Director of Serendib Horticulture, Dilip de Silva.
According to the agreement, the Sri Lankan firm will develop tissue
culture of 17 species of fruits, vegetables and wild plants, in an
Qatar is working on an agricultural strategy so that it can produce
sufficient agricultural products for local and international markets.
HP E club loyalty program launched
Country Business Manager Personal
Systems Group-Asia Emerging Countries Lackshmindra Fernando
hands over the first card to Brand Ambassador Angelo
Mathews. Pic: Kavindra Perera.
Hewlett-Packard extended its ‘Everybody On’ campaign with a customer
loyalty program to enhance service delivery standards. The program
launched by HP Sri Lanka Personal Systems Group enables existing HP
users and potential new users to experience HP service islandwide.
Customers are assured that they have purchased genuine HP notebooks and
will be eligible for future promotions and rebates.
Tomahawk rides strong
Since Tomahawk’s inception in 1997, the Sri Lanka bicycle market has
been offered stylish designs, durability and safety through the wide
range of models offered. The choices offered ensures that there is a
bike for every member of the family. Enthusiasts as well as beginners,
women and men can enjoy cycling like never before due to the exciting
quality afforded to them by Tamahawk cycles.
The bicycle manufacturer also has children’s bicycles in its
SriLankan focuses on Business Class
SriLankan Airlines is focusing on
enhancing luxuries enjoyed by high-end passengers as demand
for its Business Class cabins are on the rise. Chairman
SriLankan Airlines, Nishantha Wickremasinghe said, “Sri
Lanka is being positioned as a destination of choice among
global tourists and SriLankan Airlines is attracting many
more passengers who prefer to pay the premium rate for the
luxury of Business Class. We are therefore increasing our
focus on Business Class to provide our passengers with the
best value for money.”
ProMate for Papua New Guinea
PrintXcel Pvt. Ltd., manufacturers of
high quality ProMate office and school stationery made their
first shipment to Papua New Guinea recently. Hambantota MP
Namal Rajapaksa, Chief of Staff to the President Gamini
Senarath, Chairperson of Rathna Group Malkanthi Gunaratne,
the Board of Directors and staff were present at a function
held at Athurugiriya factory premises. PrintXcel Pvt. Ltd.
is a subsidiary of Rathna Publishers & Printers Pvt. Ltd.
Harris introduces new brushes
UK paint brush manufacturer L.G. Harris is continuing to strengthen
its global presence by launching a further two ranges of brushes into
the Sri Lankan market.
Harris Ceylon Private Limited, Sri Lanka’s only distributor, enjoys
approximately 85 percent of the market share in the paint brush market
and these numbers are continuing to improve, said Sales and Marketing
Director, Stuart Hobbs.
“Our No-Loss Evolution range of brushes have a revolutionary design
which guarantees they will never lose a bristle.
They are a household favourite in the UK markets and we’re confident
that this new range as well as the eco-friendly Down to Earth range will
complement the existing range of products already sold in the country.”
Abans charts strategic direction with MTI
From left, Director and Alternate to
the Chairperson - AFSL, Rusi Pestonjee, Managing Director -
AFSL Mano Alles, Executive Director - AFSL Kithsiri
Wanigasekara, Business Analyst - MTI Consulting Kapila
Liyanage, and CEO - MTI Consulting Hilmy Cader at the
signing of the agreement.
The diversified conglomerates Abans has signed up MTI Consulting to
research and develop their Strategic Plan for the Group’s Financial
Services business. Abans Financial Services (AFS), which is a Registered
Finance Company is a recent entry to the highly competitive financial
services market. AFS has its own network of 10 branches and access to
over 400 Abans Group retail outlets.
Azmaara Spa wins Best Host Hotel Spa Award
The Azmaara Spa won the Sri Lanka
Tourism Award in the Best Host Hotel Spa category. It is a
great achievement since the Azmaara Spa has been in
operation only from November 2009. Here Chairman Azmaara Spa
Peter Arendtsz, receives the award from Deputy Minister of
Tourism Lakshman Yapa Abeywardena.
Saatchi creative director joins Saatchi Sri Lanka
Saatchi International Creative Director Eric Frank was appointed
Saatchi and Saatchi Sri Lanka Creative Director recently. Frank, a South
African by birth, has a wealth of experience in advertising
“We are extremely excited that Eric is now part of our team,” said
Managing Director Saatchchi and Saatchi Sri Lanka Dushantha Ahangama.
Walkers Tours introduces SUV’s to fleet
Walkers Tours launched its third project by introducing 16 new
Hyundai Santa Fe SUV’s (Sport Utility Vehicles) to their fleet.
In early 2004, Walkers Tours and Whittalls Travels, the Destination
Management Companies (DMCs) of the John Keells Group launched a
trend-setting initiative to introduce a self-financed model for tour
drivers to purchase their own vehicles. The success of the initial
scheme led to an introduction of 106 brand new Nissan Bluebird Sylphy
vehicles into the tour operations of the John Keells Leisure sector
early this year.
“This is an incredible opportunity for chauffeur guides to pay for
their own SUVs within five years”, said CEO Walkers Tours, Michael
AMW-Yamaha celebrate 30-year bond
Associated Motorways Ltd (AMW)
recently celebrated its 30-year association with Japan’s
Yamaha Company. Ranging from the YB 100 that was introduced
to the market at the inception in 1981, to the present day
SZ and YBR 125, all makes of Yamaha have been embraced by
motor cycle lovers of this country. The Yamaha-AMW
combination has been instrumental in creating a new motor
cycle culture in Sri Lanka.
SLI vehicle breakdown service at Kataragama
Sri Lanka Insurance’s (SLI)
vehicle breakdown and recovery service was held in
Kataragama providing assistance to over 50 vehicle
breakdowns during the Kataragama perahera season.