Business
South Korean company together with local entity to launch Carbon Credit Exchange in Sri Lanka
Kiuda Digital Holdings, backed by direct international investments will be launching their state-of-the-art carbon exchange – KiudaEXin the near future.
The locally developed carbon exchange will primarily target the growing demand for carbon offset credits in South Korea, Japan, and other regions of Asia. With a multi-milliondollar valuation, the Kiuda Carbon Trading eco-system is backed by direct investments and endorsements from well-known and leading South Korean securities, financial firms and conglomerates.
KiudaEX will initiate the next generation of carbon trading by seamlessly connecting global carbon offset credit suppliers to conglomerates and businesses that are targeting to be carbon neutral through carbon offset credits. KiudaEX will be a fully automated carbon offset credit exchange with direct connectivity to well-known carbon registries. The system will solve many of the issues plaguing carbon trading, such as lack of transparency, fraud, double spending and long paperwork, through the innovative use of technologies such as blockchain, process automation, and security measures.
The KiudaEX carbon exchange and its associated Climate Finance software were fully developed in Sri Lanka using local tech talent and expertise. In addition, South Korean investors have set up the company, Kiuda Digital Holdings, in Sri Lanka which will be responsible for operating the Carbon Credit Exchange.
Richard Yoon, CEO of Kiuda Carbon Exchange, said, “The global carbon market is going to be a multi-billion industry in a couple of years. KiudaEX is using the latest technology and we are well-positioned to be a market leader in South Korea, Japan, and globally. We will solve a lot of current issues in the carbon markets. Our exchange will be at the forefront when the carbon markets pick up with mandatory regulatory enforcement.”
He further mentioned “I believe that Korean and Japanese companies and financial institutions will view Sri Lanka as a really good investment destination. We being able to attract direct investments from Korean financial organizations is a direct testament to it. We are very happy to have learnt about these advantages of Sri Lanka before anyone else. As you can see, if you have a solution based on blockchain technology, it doesn’t matter which country you do business in, but I think Sri Lanka is the best place to do business out of all the countries.”
Xeptagon, an innovation-driven local tech startup primarily focusing on Climate Finance Technologies is the local partner of Kiuda Digital Holdings. Dr Sapumal Ahangama, Co-Founder of Xeptagon mentioned “Kiuda Carbon Exchange will be a game changer in the carbon trading domain. It is developed using Xeptagon’s core Climate Finance technology framework. We already provide climate finance and carbon trading-related software development services to global inter-governmental organizations, governments and financial organizations in the USA, Hong Kong, the African Region and the Gulf Region among others.”
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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