New People's Bank chief
Chief of Presidential Staff, Gamini Senerath was appointed as the new
Chairman of the state owned People’s Bank on February 14.
President Mahinda Rajapaksa as the Minister of Finance made this
appointment following the demise of W. Karunajeewa recently. Senarath
also serves as the Chairman of Sri Lanka Insurance Corporation,
state-owned Litro Gas and Sinolanka Hotels and Spa Ltd. He is a senior
officer of Sri Lanka Administrative Service.
Sri Lanka should freeze policy rates -
The International Monetary Fund (IMF) last week said that Sri Lanka
should freeze policy rates until inflation begins to fall. IMF mission
chief John Nelmes said that monetary policy should remain on hold during
the coming months till inflation starts to decline.
The IMF estimates 6.0 percent GDP growth in 2012 and 6.25 percent in
2013. There are two competing factors, slow growth and high inflation
and in cases like this the balancing act with regard to monetary policy
is a challenging one, Nelmes said.
New chairman at Estate Control Board
Former Western Provincial Councillor, H.A. Wimalasuriya has been
appointed Chairman of the Tea, Rubber and Coconut Estate Control Board
by Plantation Industries Minister Mahinda Samarasinghe.
He was private secretary to the Plantation Industries
Minister.Wimalasuriya was also a working director of the Foreign
Employment Bureau. He is also a director of the Coconut Cultivation
Board. H.A. Wimalasuriya who has worked as a journalist has also
authored several books. He is also a renowned poet in the area.
Obtains record marks at CA Sri Lanka exam
Charith Ranganath Gunathilaka of Colombo obtained 93 marks out of 100
at the case study examination of the Institute of Chartered Accountants
of Sri Lanka (CA Sri Lanka). A former student of Royal College, Colombo,
Gunathilaka attributes his diverse knowledge gained in accounts, tax,
financial management, risk management and on international financial
reporting standards for his success at the 2012 case study examination
of the CA Sri Lanka.
ACCA Sustainability Reporting Awards on Feb 20
The concept that businesses perform better by using sustainability
reporting as a tool to measure, monitor and report entities’ actions and
the impacts those actions have on stakeholders has gained momentum each
year with the ACCA Sri Lanka Sustainability Awards. On February 20, over
fifty companies from small to medium to large and extra large will, as a
means of being more transparent and accountable in economic, social and
environmental spheres, vie for awards at the annual awards ceremony
organised by ACCA Sri Lanka.
The chief guest will be the Country Director of the Asian Development
Bank, Rita O'Sullivan, while the guest of honour will be ACCA's
Executive Director, Markets, Stephen Heathcote.
Pay hike for security guards
Industrial Security Foundation (Sri Lanka) Inc said that the wages of
private security personnel has been increased by 30 percent by the Wages
It has been approved by the Minister of Labour Relations and
Manpower. This decision came into effect from January 1, 2013.
The wage increase will benefit over 100,000 security personnel
employed in private security firms.
Record price for Ampittiakande tea
Ampittiakande Group in the Bandarawela region in the Uva province,
owned by the Richard Pieris Group and managed by Maskeliya Plantations
PLC, secured a price of Rs. 630 per kilo for a good liquoring FBOP Grade
at the weekly Public Tea Auction on January 22.
The tea was sold by Eastern Brokers Limited. The buyer was Stassen
Azbow wins gold award
Azbow (Pvt) Ltd. headed by its Managing Director, PCJT Software
Engineer, Sanjaya Samaratunga won the Gold Medal in the Young
Entrepreneurs Software Company Award (YesCom Award). The awards ceremony
organised by the Java I nstitute Sri Lanka was held at the Mount Lavinia
Hotel recently to honour young Software Engineering Entrepreneurs of Sri
Lanka. Here chief guest Deputy Speaker Chandima Weerakkody presents the
award to Sanjaya Samaratunga and the Board of Directors of Azbow (Pvt)
eMarketingEye turns six
eMarketingEye completes six years this month as one of Sri Lanka's
largest digital marketing agencies.
“eMarketingEye which specialises in travel and hospitality, serves
some of the well-known hospitality brands in the world including
Millennium and Copthorne Hotels, Taj Hotels, Resorts and Palaces,
Anantara Hotels, Resorts, and Spas and COMO Hotels. It serves over 35
hotels in Sri Lanka including Jetwing Hotels, Aitken Spence Hotels, John
Keells Hotels and Serendib Leisure,” a spokesman for the company said.
Amana Bank branch in Nintavur
Amana Bank opened its 16th branch at Nintavur in the Ampara district
recently. Here Managing Director and Chief Executive Officer Faizal
Salih accepts the first deposit from a customer. Operations Manager
Mohamed Azmeer and Registrar of the South Eastern University of Sri
Lanka H. Abdul Sathar look on.
PAB goes for 365 days banking
Pan Asia Bank launched 24 /7, 365 days banking at its Kollupitiya
branch recently. With this initiative the Kollupitiya branch will be
open all the time. Pan Asia Bank will offer an unparalleled level of
accessibility and convenience to bank's customers right in the heart of
Colombo.Chief Executive Officer, Pan Asia Bank, Claude Peiris who was
the chief guest opened the 24/7, 365 days banking while the senior
management, customers in the area, other guests were present. Here CEO
Claude Peiris opens '24 hours every day' banking services. DGM, Retail
Banking, Irishad Ally, Area Manager, Takura Abhayasinghe, Senior
Manager, Kollupitya Branch, Thushara Suraweera and customers look on.
Kandurata Kuda, SSC's clothing sponsor
Sinhalese Sports Club's (SSC) appointed Kandurata Umbrella Industries
(KUI) as the official clothing sponsor at a ceremony at the club
premises. Chairman of KUI, M.T.M. Naushad, General Manager Sales and
Marketing Riza Thahir, SSC president W. Ellawala, Cricket Committee
president, Samantha Dodanwela, Sri Lanka Captain, Mahela Jayawardene,
SSC coach, Avishka Gunawardene, SSC Captain, Thilina Kandambi and other
members of the team were present.
Naushad said that it was a pleasure to become the official clothing
sponsor of the SSC which has a long history in producing cricketers of