Business
International Chamber of Commerce Sri Lanka third Arbitration and Mediation Conference
International Chamber of Commerce Sri Lanka (ICC Sri Lanka) hosted its third annual Arbitration Conference on August 3rd, 2023, at the Galadari Hotel in Colombo. The International Chamber of Commerce (ICC Paris) is celebrating 100 years of the ICC International Court of Arbitration this year. Since the inception of the ICC Court in 1923, they have remained at the forefront of supporting global trade and investment through dispute prevention and resolution. ICC Sri Lanka is part of the global ICC network, which is present in more than 170 countries. This year’s Arbitration Conference delved into many topics including the “Advantages & Disadvantages of Arbitration and commercial Mediation in Sri Lanka,” bringing together legal experts, practitioners, scholars, and business leaders to foster insightful discussions.
Speaking about the event, ICC Sri Lanka Chairman Anthony Shanil Fernando said, “This year the ICC Sri Lanka Arbitration Conference was a resounding success. We had over 180 participants with nine eminent local and internationals speakers from Singapore Malaysia and India including Hon Justice Priyantha Jayawardhane PC, who spoke to the audience on the ‘Enforcement Settings Aside from Arbitration Awards’. John Denton Secretary General of ICC Paris and Claudia Salomon President of ICC Court of Arbitration Paris addressed the gathering. Arbitration, an alternative dispute resolution mechanism, has gained prominence in Sri Lanka’s legal landscape. As the country seeks to strengthen its position as a regional hub for international business and investment, understanding the benefits and challenges of arbitration is crucial. One of the Panel discussions was on the Singapore Convention on mediation and the 1958 New York Convention that provides for the excursion of arbitral awards. The conference was a platform to provide a comprehensive analysis of the various facets of arbitration and shed light on its implications for businesses and the legal community.”
The focuses on topics such as the enforcement of arbitral awards, cost-effectiveness, confidentiality, procedural flexibility, and potential challenges. The conference was also a networking opportunity to network leading local and international legal practitioners, arbitrators, business leaders, and government officials, fostering collaborations and facilitating knowledge exchange. The ICC Sri Lanka Arbitration Conference aims to strengthen ties between the legal and business communities by facilitating a dynamic platform for discussion and interaction.
Further commenting on the event Fernando said, “Beyond its core role in trade facilitation, ICC Sri Lanka is actively engaged in matters concerning responsible business conduct, corporate social responsibility, and sustainable development. By championing ethical business practices, ICC emphasises the need for businesses to operate responsibly, considering the well-being of societies and the environment. Ease of international trade is very significant to the world economy as it not only results in increased efficiency but also allows countries to participate in a global economy, encouraging the opportunity for foreign direct investment (FDI). In theory, economies can thus grow more efficiently and become competitive economic participants more easily. Arbitration is a time-honoured method of resolving conflicts started by the ICC 100 years ago.”
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
