Business
Nestlé Lanka partners with Commercial Bank to drive sustainable dairy farming
Nestlé Lanka and the Commercial Bank of Ceylon partnered to launch an initiative to support dairy farmers with concessionary finance to expand their operations and increase milk yield, in line with the purpose of implementing regenerative agricultural practices to reduce greenhouse gas emissions in the dairy value chain.
To support Sri Lankan dairy farmers facilitate the necessary conditions and equipment in their farms to increase yield per cow, Nestlé Lanka formed a partnership with Commercial Bank to put together a value chain financing programme aimed at providing farmers with tailor-made financial solutions at a nominal interest rate. As part of the financing programme, Commercial Bank will also cover community development initiatives such as improving financial literacy and technical awareness of dairy farmers to support in uplifting their livelihoods. Nestlé aims at reaching 300 farmers through the financing programme by year end, from which 25 farmers are selected to benefit from the rollout of the first phase.
“In line with our steadfast commitment towards developing Sri Lanka’s dairy industry, we consistently help our farmer network to build a livelihood that is both profitable and sustainable. We are excited to work closely with the Commercial Bank of Ceylon on this financing programme, to not only support in uplifting the livelihoods of our dairy farmers, but also have a positive impact on the planet. Staying true to our purpose of ‘Unlocking the power of food to enhance quality of life for everyone, today and for generations to come’ we will work together with our partners and dairy farmers as we progress in our ambition of achieving net zero emissions by 2050”, said Bernie Stefan, Managing Director of Nestlé Lanka.
“As the largest private bank in Sri Lanka, Commercial Bank has always recognised the importance of providing inclusive financing solutions to rural communities of Sri Lanka that are mainly engaged in agriculture, livestock and micro businesses. We have set up special Agriculture and Microfinance Units (AMFU) to exclusively cater to this segment. The Bank is in the process of further expanding its AMFU operation to stimulate economic growth and to promote self-sufficiency in agri produce. A supply chain financing programme of this nature involving two highly reputed companies is the best response to the financial exploitation that is prevalent in underbanked and unbanked communities. It can enable these communities to access the formal financial system and be exposed to an environment that is catalytic in building their competitiveness”, said Sanath Manatunge, Managing Director / CEO of the Commercial Bank of Ceylon.
Having operated in Sri Lanka over 115 years, Nestlé supports the livelihoods of over 12,000 dairy farmers through the procurement of milk, contributing significantly to the local milk industry. With a vision of reaching net zero emissions by 2050, the company is committed towards adopting greener practices across the value chain, from farm to table. Driven by its purpose of ‘unlocking the power of food to enhance quality of life for everyone, today and for generations to come’, Nestlé has nourished generations of Sri Lankan families with high quality food and beverages from early childhood to old age.
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
