Business
calls on President, PM to bow out; ‘expresses fullest support for people’s movement’
Central Bank Executive Officers’ Union expressed its fullest support to the people’s movement held on 09 July 2022 against the futile regime, which should be directly responsible for destroying the Sri Lankan economy, and as promised, we emphasize that the failed President and Prime Minister must bow down to the people’s verdict and vacate their offices.
Today, we as a country are experiencing the adverse consequences of mismanagement of the economy mainly based on narrow political agendas, aside from the professional and technical advice of Central Bank officials. Due to lack of progressive political vision, weak political leadership and political instability, Sri Lanka has found it difficult to get any kind of financial support from the international community and as a result, the present and future of the entire country is faced with tragic consequences. Even under such a situation, we believe that the Central Bank of Sri Lanka has taken all possible efforts that are within its scope to prevent the economy from collapsing and will take the necessary policy measures in accordance with the future developments in the economy. Nevertheless, it must be emphasized that the Central Bank of Sri Lanka alone cannot get the country out of this economic crisis.
In particular, the Central Bank of Sri Lanka cannot find sustainable solutions to the existing economic crisis through monetary policy in isolation, and for that the government must make necessary structural changes in the fiscal policy and especially when the economy is in the verge of a severe collapse, all relevant economic policies should be implemented with a strong coordination between the monetary and fiscal policy.
Several rounds of technical discussions have been held with the International Monetary Fund (IMF) thus far, and a staff-level agreement is close to being reached. Also, necessary activities are underway for debt restructuring, which is a prerequisite for an Extended Fund Facility that to be obtained from the IMF. Therefore, we strongly believe that any party that comes to power in the future will not hinder this process of reaching an agreement with the IMF, which is the primary way to save the economy from this calamity.
Furthermore, the IMF has already emphasized that in order to continue the program, political stability must be established in the country very soon. Therefore, we request all the political parties representing the Parliament to act promptly within the existing constitutional provisions and ensure that there is no anarchy in the country. Aside from prioritizing their party or personal political agendas, they should work in due urgence to create the political and social stability that must prevail in the country.
We believe that the President and the Prime Minister, who have expressed their agreement to relinquish power, will not undermine the aforementioned constitutional procedure in any way and the Central Bank Executive Officers’ Union will closely monitor the developments and respond accordingly. (
CBEOU)
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
