Business
SEC organizes first CPD for 2024
The Securities and Exchange Commission of Sri Lanka (SEC) successfully conducted its first Continuous Professional Development (CPD) Program for 2024, aimed at elevating the knowledge and skills of Investment Advisors in today’s dynamic market landscape of the capital market industry.
The session was focused on the new products launched by the SEC and Colombo Stock Exchange (CSE) to enhance market liquidity, attract investors, and diversify their offerings to meet the evolving needs of the industry. The CPD and was held on 15th February 2024 at the Sri Lanka Foundation Institute, Colombo 07 and ended on a positive note with the participation of over 280 Investment Advisors.
Eminent presenters from the CSE, including Renuke Wijayawardhane, Chief Regulatory Officer, Ms. Nilupa Perera, Senior Vice President and Ms. Dulani Warnakulasooriya, Vice President, Enterprise Risk Management and Post Trade Settlement, shared their knowledge on the innovative initiatives shaping the capital market landscape. Attendees had the privilege of learning from these presenters, gaining deep insights into the intricacies of the newly introduced products.
The program covered critical aspects of Regulated Short Selling (RSS) and Stock Borrowing & Lending (SBL) which is a groundbreaking development in the Sri Lankan stock market aiming to promote market efficiency, liquidity, and investor confidence while fostering economic growth, aligning with international standards and practices. It also covered the Regulatory Framework of Listed Corporate Bonds which included Plain Vanilla Debentures, BASEL III Debentures, Perpetual Bonds, Sustainable Bonds, Infrastructure Bonds and Shariah Compliant Debt Securities.
The CPD Program brought together key professionals from the capital market industry, providing them with a platform to delve into the latest developments and strategies in response to the challenges posed by today’s dynamic market environment.
As part of the ongoing commitment to uphold the highest standards in the industry, it is a stipulated requirement that holders of the Investment Advisor certification actively participate in CPD Programs. Accordingly, it is mandatory for the Investment Advisors to sit for 2 CPDs and obtain 4 CPD Credits to maintain and carry forward their license to the next financial year. Since the publication of this Directive, the SEC has been organizing 5 CPD sessions annually. Despite the challenges presented by the pandemic, the SEC has demonstrated remarkable resilience by seamlessly transitioning from in-person to online CPD Programs.
Even during these unprecedented times, Investment Advisors were able to fulfill their CPD obligations through virtual platforms, ensuring the uninterrupted maintenance of their licenses. In the beginning of 2024, a decision was taken after considering a few suggestions from the industry, to commence the in-person CPD Programs once again for better interaction and networking. In light of that, the first in-person CPD was conducted after five years.
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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