Business
A revolution in the ComBank annual report reading experience
March 5, 2024, will go down as a red-letter day for the world’s investor relations community. On this day, Commercial Bank of Ceylon PLC, headquartered in Sri Lanka, integrated an AI-powered Annual Report Assistant (AIPARA) to their Annual Report 2023. It is probably the first of its kind.
This innovation addresses a perennial issue and makes reading annual reports a true joy. Gone will be the days when readers had to wade through pages to find information of interest and significance to them. Readers can now simply ask questions from AIPARA and obtain answers.
Commenting on Commercial Bank’s annual report journey, Mr. Sanath Manatunge, Managing Director/Chief Executive Officer of the Bank said that integrating AIPARA to the Bank’s Annual Report aligns perfectly with their ongoing investments in digital transformation, technological innovation, and data-driven decision-making. “We commenced our digital annual reporting journey more than 15 years ago when we started presenting our annual report as an end-to-end HTML so that both human and machine readers could better discover, access and interact with our annual report”, he added.
Chairman of Smart Media The Annual Report Company, Dr. Vijith Kannangara elaborated on the Bank’s digital annual reporting journey. “Our three-decade-long relationship with the Bank and the resultant perfect understanding of our client helped us make this quantum leap in our superior value proposition to the Bank. AIPARA will also help balance the disparate imperatives of conciseness, comprehensiveness, and accessibility in disclosure practices. We also believe that this development will compel corporates to give due attention to providing quality content in their annual reports.
Questions to AIPARA need not necessarily be in perfect sentences. They can range from words like “Profit?” or “Chairman?” to phrases such as “SME initiatives” or “Top 10 shareholders?”, and even to elaborate questions prompting analytical answers. “Is the Bank’s capital under stress?” or “Is the impairment policy of the Bank prudent?”.
AIPARA of Commercial Bank can be accessed through the HTML annual report of the Bank at https://combank2023.annualreports.lk/
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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