Biz Briefs

Union Bank joins CEFTS

Union Bank (UBC) is one of the first private banks to be certified to the Common Electronic Fund Transfer Switch (CEFTS) creating greater banking convenience.

As a Bank synonymous for technological firsts in the banking industry, this move supports the bank's real-time payment revolution.

Vice President, Information Technology, Union Bank, Rajeev Munasinghe said, "The system enhances the customer payment process, creating an efficient payment gateway with limitless possibilities that engages ultimate banking convenience."

'Connect To Learn'

Ericsson Sri Lanka with Mobitel and the Open University of Sri Lanka (OUSL) launched 'Connect To Learn' in Polonnaruwa with the opening of a lab at the OUSL campus, to mark its 20th anniversary.

The initiative, which aims at enhancing the computer literacy of young girls across Sri Lanka, empowers them by providing learning and employment opportunities.

Female students from underprivileged communities usually find it difficult to go for higher education due to lack of resources.

Chinese tourists on the rise

The number of tourist arrivals rose 18 percent to 157,051 in March 2015 compared to a year earlier with a surge in the number of arrivals from China.

Sri Lanka has set a target of 22,500 rooms in the next five years when the number of tourist arrivals would reach 2.5 million and hopes to turn the entire country into a tourism development zone.

With 75 hotels under construction, there will be 5,306 more rooms by 2016.

One sector that featured prominently during the post-war rapid growth phase was tourism. The arrival of tourists increased rapidly and passed the elusive one million mark in 2012 and increased further in 2013.

CMI award scheme

The Chartered Management Institute (CMI) Sri Lanka branch will conduct a Management Excellence award scheme to recognise and reward best management practices among Sri Lankan managers and companies.

CIM, Sri Lanka branch, in enhancing professional standards of managers conducts evening presentations and panel discussions on timely and relevant management related topics on a periodic basis for members and other professionals.

CIM has an average of 150 members and works purely on a voluntary basis to promote the concept of good management and leadership skills.

New SEC D-G

Vajira Wijegunawardane has been appointed as Director General of the Securities and Exchange Commission of Sri Lanka (SEC), sources at the Commission said on Friday evening.

He has been on the staff of the commission for several years and his last position was Director, Capital Market Development.

CA Sri Lanka inaugurates overseas Chapter

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) launched its overseas chapter in the United Arab Emirates (UAE) at the Emirates Ballroom of the JW Marriott Marquis Hotel in Dubai.

Vice President of CA Sri Lanka, Lasantha Wickremasinghe, and Charge d Affaires of the Sri Lankan Embassy in Abu Dhabi and Consul General of Sri Lankan Consulate in Dubai and Northern Emirates were also present.