Business
Call for urgent tax reform and state sector restructuring
COYLE annual diplomats’ evening:
The Chamber of Young Lankan Entrepreneurs (COYLE), consisting of a membership of over 120 entrepreneurs and highly recognized business entities, hosted their annual evening of open discussion and networking with the diplomatic community in Sri Lanka.
Foreign Minister, Ali Sabry was invited as the chief guest who delivered an impassioned and clear message on the importance of international cooperation amongst the global community in supporting the economic recovery of Sri Lanka. The foreign minister thanked COYLE for being the strength of the Sri Lankan economy, given that the COYLE member organizations contribute billions of rupees annually to the Sri Lankan GDP. Most of the COYLE members are exporters that bring in vital dollars back to the country and have investments, joint ventures and collaborations globally that play an important role in the continued progress of the nation’s economy and now economic recovery.
Chairman of COYLE, Dimuth Chankama Silva, welcomed the delegates and the COYLE membership to a Sri Lankan cultural extravaganza that enhanced the warm reception and helped to renew and strengthen relationships with the diplomatic community. The Chairman acknowledged the sustainable and ethical businesses that COYLE represents and their intent to continue exporting and investing internationally, for which the support of the invitees that evening, was vital. Senior Vice Chairman, Rasith Wickramasingha, invited the distinguished guests who included, ambassadors, high commissioners, representatives of foreign diplomatic missions and global funding agencies to work with COYLE to make rewarding connections.
He expressed that COYLE was ‘open for business’ and that while Sri Lanka is at a crossroad, the members of COYLE have embraced the changes thrust upon their companies, despite the economic hardships and have been able to successfully weather the storm. On behalf of the COYLE community, he further praised President, Ranil Wickremesinghe, the government of Sri Lanka and the Central Bank Governor, Dr. Nandalal Weerasinghe, for taking bold and decisive actions that prevented further economic collapse. COYLE urged the government to prioritise restructuring of the public sector so as to reduce the burden on taxpayers and add value that is essential for the recovery of the Sri Lankan economy. COYLE is confident that hikes in taxation and interest rates were stop gap solutions at the time and that necessary tax reforms are underway to make it more equitable and that measures will be implemented to widen the tax net and reduce tax evasion. Subcommittee Chairman of the event, Dan de Silva, commented that the event was a roaring success and had been well received by the diplomatic attendees.
(COYLE)
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.”
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