Business
CB Governor offers ray of hope for small business people going through a tough phase
Covid-19 pandemic’s repeated assaults
by Sanath Nanayakkare
The Road Map to be unveiled by the Central Bank of Sri Lanka on October 1, 2021 would contain a mechanism to resurrect micro, medium and small industries (MSMEs) hit hard by the Covid-19 pandemic, Central Bank Governor Ajith Nivard Cabraal said at the ‘Salakuna’ chat programme telecast by Hiru TV recently.
“The Central Bank would have the small guys in mind who are in great difficulty as they have been going through three moratoriums in view of the Covid-19 pandemic’s repeated assaults on them, especially as the latest moratorium given to them would expire on December 31,” he stressed.
He made this comment when Hiru TV presenter Chamuditha Samarawickrame asked if the Central Bank would forget about the struggling small business people over the blue chip companies in the Colombo Stock Exchange (CSE), when launching its ambitious Road map.
Responding to the question, the Governor said, “No, we won’t. You will see when we unveil the Road Map that we have taken their troubles into account. Small entrepreneurs have always taken a risk. They are not as secure as monthly salary earners. Micro, small and medium entrepreneurs are the backbone of the economy and we will come up with a programme to keep them afloat and safeguard them,”, he said.
According to him, small tourism businesses, the passenger transport industry (bus service) and other struggling small entrepreneurs that are in trouble as Covid- 19 hit them, would be considered in their best interests as the country is slowly but steadily coming out of the Covid-19 crisis.
He also said that six finance companies whose licences have been cancelled by the Central Bank should also be brought back into business and that a mechanism would be developed for it.
“I know that some individuals are on the CRIB for not being able to pay their small and medium sized loans on time. We expect to issue banks with fresh instruction to be more lenient towards those have taken loans below Rs. 500,000 and are unable to pay as their livelihoods have come to a halt.”
When the Hiru presenters pointed out that banks wouldn’t adhere to such instructions issued by the Central Bank, Cabraal said,” Yes, I know that this has happened in many instances. So we intend to talk to the banks to get it done without inflicting any suffering on the parries that are in dire need of help at this crucial juncture.”
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
