Business
Govt to distance itself from funding loss-making entities
Signals additional funding for education, health and social security
By Sanath Nanayakkare
The government will continue to fund health, education, social welfare and housing, and we are looking to dedicate government funding to these sectors while the government will have to distance itself from funding loss-making state owned enterprises (SOEs), President Ranil Wickremesinghe said on May 12.He made this remark at the opening ceremony of ‘Skills Expo 2023’ held at the BMICH, Colombo.
“When I looked back at the investments of our country made in the past 10 years, I noticed that we had invested a lot of money in state corporations and boards and not enough on education. Had we channeled the money used for funding Sri Lankan Airlines, Electricity Board, and Petroleum Corporation towards education, we would have been in a position to compete with the countries that have the best education systems in Asia. Unfortunately, we did not do that, and now we have to pay the debts accumulated by funding the loss-making entities. We must grow the economy and pay off these debts while taking steps to build a knowledge-based economy within the next 10 years. I want to continue to fund education, health, social security and housing with additional resources instead of funding government entities,” he said.
Further speaking he said, “We must empower our youth with knowledge. Then only their future will be secure and sustainable. We need to train the youth and equip them to join the construction industry. There are many other sectors where youth skills and participation are lacking. In most industrial cases, that knowledge lies outside of the government. So we have to collaborate with institutions that can provide that training. If foreign institutions have that knowledge, then their contribution needs to be incorporated. That is why we have begun the modernization of education. Even until recently we didn’t know what was evolving in education and technology. This means we have to create an education system foreseeing the evolving trends. We need to empower our youth with the knowledge the future demands. That’s how we can help them to progress in their own lives and equip them to take the country into the future.”
This year, I consolidated the Ministry of Education under one minister to ensure appropriate implementation of this task. He must monitor the entire system and make appropriate mechanisms. I have formed a special cabinet committee to oversee education. We will start modernization of education from this point onwards because we are entering a new world and our youth must be a part of it,” the President said.
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
