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| Sunday, 4 January 2004 |
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| News Business Features Editorial
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CSE introduces Total Return Indices The Colombo Stock Exchange (CSE) will launch a Total Return Index (TRI) series in addition to the Price Indices (PIs) calculated presently. The present price indices are: ASPI - Reflects the price movements of the equity of all listed companies, MPI - Reflects the price movements of the equity of 25 selected companies based on their market capitalisation and liquidity, and Sector Indices - Reflects the price movements of stocks in each sector. The existing price indices reflect price movements of the underlying shares, whereas the TRI reflects returns due to both price changes and dividend income. The TRI is hence a better measure of returns from an investor's perspective.The CSE, from January 2, is publishing the ASPI, MPI and Sector Indices daily, using both price and total returns basis. The ASPI computed on total returns is known as ASTRI and the MPI computed on total returns is known as MTRI. ####### Dr. Liyanage on CIM Int'l Board Dr. Uditha Liyanage has been appointed to the International Board of Trustees (IBT), the key policy and strategy formulating body of the Chartered Institute of Marketing (CIM). He will hold this prestigious position in 2004 and 2005. The IBT has 12 board members. Dr. Liyanage was Chairman of CIM Sri Lanka Branch in 1999 and 2000 and recently received the CIM Recognition Award for his outstanding contribution to the marketing profession in the country. He is the only CIM member in Sri Lanka and one of the few in the region to obtain a Ph.D in Marketing. He is presently a member of the Senior Faculty of the Postgraduate Institute of Management and has published extensively in both local and foreign journals. He is also a reputed consultant, trainer and is on the Director Boards of several companies. ######## CTC Social Report 2003 Ceylon Tobacco Company launched its 2nd Social Report recently. The company which embraced the rigorous process of listening and responding to stakeholder expectations (met over 250 stakeholders during the second cycle of the process in 2002/2003). Last year's Social Reporting process enabled the Company to have dialogue sessions with 54 stakeholders and over 200 issues were raised. There were 18 deliverables which emanated from these issues and CTC has delivered on all during the timelines promised. These ranged from the removal of the branch name "Buddy" to producing a corporate video of "seed to smoke". In its endeavour "To be the most progressive world class company in Sri Lanka" CTC formalised the process of dialogue with stakeholders and also extended its scope during 2003. This process as done in 2002 was independently verified by Bureau Veritas, following the AA 1000 standard. During 2003 CTC held 17 dialogue sessions with 256 stakeholders and 142 issues were raised. All 142 issues were responded to whilst 9 deliverables derived from cycle 2 of the process. ######## UAL holds residential seminars Union Assurance (UAL) held three residential seminars for the high achievers among its life and general insurance sales team, at Browns Beach Hotel, Negombo, as part of the company's commitment to encourage and reward the achievements of its people. A total of 225 high achievers from UAL's islandwide branch network and Colombo head office met to discuss and exchange ideas for pursuing professionalism and achieving business and personal goals. The high achievers included regional sales managers, sales managers, sales executives, development officers and insurance representatives who were presented with certificates of commendation by UAL's senior management. ######### Austrian Airlines unveils new brand - Austrian Austrian Airlines unveiled its new brand with effect from October 1, 2003. Now known as Austrian, the group comprises of three airlines, namely Austrian which serves international destinations, Austrian arrows serving intra-Europe sectors and Lauda, serving its leisure traffic. Austrian serves 120 destinations in over 64 countries on all five continents. Vienna which serves as its hub is the fastest transfer point in all of Europe with a minimum connecting time of only 30 minutes for each transfer. A special feature is that Austrian flies to over 35 destinations in 21 countries in Central and Eastern European states alone.Sri Lanka, is served by a twice weekly operation to Colombo and the only direct flight between Colombo and Vienna. The flights operate during daylight hours with convenient departures at noon, with the attractive opportunity of landing at most European cities the same day. M/s Browns Tours Ltd are the General Sales Agents in Colombo. ####### Study trip to UK 'Real UK', a British Council initiative, is giving young people aged between 16 and 18 the opportunity to win an all expenses paid study trip to the UK this March. The two-week trip will enable the winners to learn more about educational opportunitiers, visit leading companies and enjoy some of the best cultural attractions in the UK. This is the first time Sri Lanka has been selected for the event. The programme, now in its second year, will be run in 16 other countries. The British Council had invited 45 schools in Colombo and Kandy to take part. Students had to submit a video about themselves for the programme. The two winners will be selected on January 17th at a fun-filled programme sponsored by Yes FM, MTV and SriLankan Airlines. The guests will include Yasodha Wimaladharma, Bathiya and Santhush. |
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