[BIZ - BRIEFS]

Asian Alliance unveils US$ 1 m health cover

Asian Alliance Insurance PLC launched a health insurance cover of up to US $ 1 million that can be purchased locally. The newly-launched standalone Life Max Global Plan is available in three packages Silver, Gold and Platinum.

The Silver package entitles customers to obtain medical cover in Sri Lanka, India, Singapore and Malaysia while the Gold and Platinum packages entitles them to obtain medical care worldwide excluding USA and Canada.

Asian Alliance Insurance has entered into agreements with some of the world’s reputed medical establishments to provide special benefits and to facilitate the best possible healthcare locally and internationally.

OECD cuts economic forecasts

The Organisation for Economic Co-operation and Development (OECD) is calling for urgent action by world leaders to tackle slowing growth. The call came as the think tank cut its global economic forecasts for 2016.

Last year, it forecast a growth of 3.3% for 2016. It now says that will be only 3%. Trade, investment and wage growth were all too weak, adding that cutting interest rates and other monetary policy fixes were not sufficient to reflate growth, it said.

Interest rates in many parts of the world have been cut to stimulate borrowing and investment. Rates in many countries, including the UK, are at record lows. - BBC

HNB opens Islamic banking unit in Pettah

Hatton National Bank (HNB) has opened its second Islamic Banking Unit at Pettah.

Managing Director and CEO, HNB, Jonathan Alles, members of corporate management and invitees were present.

The new unit reinforces HNB’s standing as an inclusive bank which touches the lives of all communities, and will cater to the entire retail, SME and corporate customer segments of HNB. Islamic Banking under the Al Najah brand is an alternative banking system which is available to all customers, irrespective of their faith.

HNB Al Najah was set up in February 2012 to take Islamic banking in Sri Lanka to new heights.

ComBank to raise Rs. 5 b via debenture

The Commercial Bank of Ceylon PLC hopes to raise Rs 5 billion via a debenture issue with an option to increase it by a further Rs. 2 billion, for the growth of the Bank’s lending portfolio and to further strengthen its balance sheet.

The listed, rated, unsecured, subordinated, redeemable debenture issue opens on February 29, but applications are now being accepted, a bank official said.

The Bank will offer two types of debentures, Type A with a five year tenure and Type B with a 10-year tenure.

The investors’ return is enhanced by the tax concessions applicable to listed debentures.

Paramount Packing receives ISO certification

Paramount Packing, a sachet producer in Sri Lanka since 1992, was awarded the ISO 22000:2005 Certification recently.

Paramount Packing which caters to a large number of five star hotels and international restaurant chains in Sri Lanka and the Maldives is equipped with the latest machinery and all its products such as sugar, milk powder, creamer, pepper, salt, tea, coffee, chocolate, malt, chilli flakes, oregano, toothpicks and straws are hygienically machine packed to international standards. Managing Director Priyanga Perera said, “Our products are designed and printed with logos by our mother company, Paramount Print Pack (Pvt) Ltd. which prints menus, brochures and annual reports for many leading hotels in Sri Lanka.”

“Our products are hygienically machine packed in food grade paper and the printing of logos on sachets is carried out with vegetable oil based ink on a par with international food standards,” he said.

“All our food items are purchased only from leading certified suppliers and with our automated state-of-the-art machinery we are in a position to supply over 500 clients spread throughout the country,” Perera said.

SLT to empower highest GCE A/L achievers

Sri Lanka Telecom (SLT) held the Sisu Abhiman Awards at the Presidential Secretariat recently to empower learning using ultra-high speed broadband connection packages.

Working in partnership with the Ministry of Education, SLT identified the top 21 students who achieved the highest results at the GCE Advanced Level examination from schools across the island. The top three students of each of the seven Advanced Level streams were felicitated by President Maithripala Sirisena and received SLT’s ultra-high speed broadband connection package with all devices to facilitate their undergraduate studies and empower their academic life. This service provided will be free during the entire period of their undergraduate studies. Students were given the choice of selecting wired or 4G LTE fixed wireless connections.

Altair to help elders’ home

Director of Indocean Developers, Pradeep Moraes, presents Altair’s donation to the Superior of the Home, Rev. Mother Rose. From left: Sisters Irene and Margret of the Little Sisters of the Poor, Administrator Samney Seneviratne and Sales Administration Officer, Indocean Developers, Velani Mendis look on.

Indocean Developers, the promoter of the Altair luxury condominium in Colombo, has enhanced its support to an elders’ home in the city.

The company has undertaken to provide 150 meals a day for an entire year for the 100 resident senior citizens, the 17 nuns of the Little Sisters of the Poor and the 33 staff of St. Mary’s Home for the Aged at T. B. Jayah Mawatha, (Darley Road), Colombo 10.

Altair has also funded the purchase of an Oxygenator, a life support device which will benefit the elderly and infirm residents of the home.

NCCSL tax seminar

The National Chamber of Commerce of Sri Lanka (NCCSL) and the Department of Inland Revenue (IRD) will conduct an awareness program on the benefits of ‘RAMIS’ (Revenue Administration Management Information System) on Thursday, February 25 from 9.30 a.m. to 12.30 p.m. at the Chamber auditorium.

The new tax administration System, RAMIS, will enable stakeholders to transact online with IRD, and offer benefits such as e-services, simpler forms, hassle-free procedures, and monitoring tax status online at any time from anywhere.

Commissioner General of Inland Revenue, Mrs Kalyani Dahanayake will deliver the keynote address and the presentation on RAMIS will be by Deputy Commissioner of Inland Revenue, E. P. R. A. Jayasekera. This will be a great opportunity for participants to clarify any doubts directly from the Commissioner General and the officials of the Dept of Inland Revenue at the panel discussion.

Etel iPC mini computer launched

Brantel Lanka (Pvt) Ltd which introduced Etel mobile phones to Sri Lanka has launched the multi-tasked Etel iPC mini computer to the market.

The Etel iPC mini computer with an elegant design is powered by an Intel Celeron 1037U dual core1.8 HGz processor. Due to its compact stature (18.25 x 17.7 x 2.8 cm) the mini computer could be used in a small space and comfortably moved around. Another specialty of the Etel iPC when compared with other mini computers is its relatively low price. It also has a two-year warranty.

A 19.5 inch LED multimedia monitor will be provided with the Etel iPC computer. Due to the availability of WiFi feature in the Etel iPC mini computer, users can access internet directly sans dongles and other accessories. The Etel iPC consist of a 32 GB SSD Hard Disk.

The Etel iPC mini computer consist of a Com port, eight USB ports, VGA Port, Embedded 3G card slot, HDMI dual display and a dual WiFi antenna slot. The Etel iPC mini can be used for TV viewing as well due to the availability of a HDMI port. The Etel iPC comprises a 4GB RAM which can be upgraded to 8GB. Another feature of the Etel iPC is the low power consumption.

The Etel iPC computer comes with Windows 8.1 Operating System and is also Linux compatible.

Prestige Automobile introduces new BMWs

Prestige Automobile, the sole representative of BMW cars in Sri Lanka, recently introduced the BMW i3, an electric car and the BMWi8, a plug-in hybrid sports car to the local market.

The company also introduced the 360 degree Ele ctric program, a portfolio of services comprising four pillars.