Business
President advocates legalising reforms in IMF framework
by Sanath Nanayakkare
President Ranil Wickremesinghe has stressed on the importance of legalising the economic, social and governance agreements Sri Lanka has entered into with the IMF.
He has said so addressing a group of lawyers at the Mahaweli Reach Hotel in Kandy on April 7.
He has pointed out that such a move would pave the way for all the people of the country to benefit from the ongoing IMF programme as it contains critical economic reforms, vital social inclusion measures and governance diagnostics which would help attract substantial external support for Sri Lanka.
“While we are pursuing the IMF programme to achieve fiscal consolidation, we need to moderrnise the legal system to effectively implement the government’s programme aimed at fostering rapid economic growth in the country,” he has said.
Addressing the lawyers, he has sought their support for these initiatives, emphasising the significance of their involvement in advancing these efforts.
” There are two options for us. Are we going to continue with the current economic system or are we going to bolster the country’s economy by prioritising a competitive export-driven approach? What should we do to avoid an economic crisis in the future? What strategic economic policies and initiatives should we follow in the long term to achieve resilience and sustainability in our economic system?”
“Sri Lankan entrepreneurs are doing well in tea and apparel sectors and we need to replicate that success in new sectors. For this, we need significant reforms in our commercial laws, including the updating of outdated laws and the implementation of modern legal frameworks accepted globally.”
“It is important to enact new environmental laws and climate change laws, along with new financial and commercial laws. Efforts are underway to draft new banking laws. These initiatives are part of a broader plan to establish a new legal system within the country over the next decade for long-term development in Sri Lanka.”
“The envisaged Women Empowerment Act and Gender Equality Act will empower Sri Lankan women to become dynamic stakeholders of the society and economy. These legislative efforts are envisioned to create a proper legal environment for economic growth and social advancement.”
“I will be presenting the relevant bills to parliament for debate in a couple of months to achieve these goals, whose implementation will lead to desirable outcomes for the people in the next two decades. I myself and some others here may not live to see the fruition of such initiatives, therefore, I urge young lawyers to take the lead in pushing forward the legal reforms necessary to realise the full potential of Sri Lanka,” the President has 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.”
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