Business
Sri Lanka National Aribitration Centre signs MOU with Bangladesh International Arbitration Centre
According to news reports in Bangladesh, a major development for the promotion of international dispute resolution services and cross border professional trade services was recorded through the collaboration, on the basis of an MOU, between the Sri Lanka National Arbitration Centre (SLNAC) and the Bangladesh International Arbitration Centre (BIAC), a press release said.
The release added: ‘This understanding will potentially lead to enhancing trade and investment relations between Bangladesh and Sri Lanka by facilitating the exchange of vital information and organization awareness of alternate dispute resolution amongst the business community.
‘Amongst the other activities planned includes the utilisation with other infrastructure facilities to conduct arbitration conciliatory proceedings, mediation and thereby optimizing resources and enhancing efficiency.
‘The presence of the chairman of the Board of Governors, Sri Lanka National Arbitration Centre Hiran de Alwis and the chairman of the Bangladesh International Arbitration Centre and president of the ICC Bangladesh Mahbubur Rahman underscores the importance of the possibilities. Mr Rahman detailed the existing scenario in Bangladesh and the long standing business ties in Sri Lanka and potential between the two countries to establish best practices within the region. He said that as a fast growing economy in South Asia new avenues for developing trade and investment should be promoted. He looked forward to visiting Colombo and meeting business and government leaders
‘The signing of the MOU would be a great impetus for new potential in bilateral relations between the two countries, underlining the promotion of international trade and services and through effective dispute resolution mechanisms.
‘Hiran de Alwis, the chairman of the Board of Governors, SLNAC, commended BIAC for its proactive role in promoting a Memorandum of Understanding and thereby promoting both countries and its peoples to work jointly for a more efficient and internationally recognized means for settlement of international trade and investment disputes under due process of law. He stated that Sri Lanka was the first to open the economy in 1977 in South Asia. He referred to the long established legal regimes in Sri Lanka and international treaties signed. He said this is the time for the South Asian economies to seize the moment and enhance trade and investment ties so that the business communities, professional services and the peoples of the region can enjoy the fruits of economic growth.
‘The Sri Lanka National Arbitration Centre established in 1985 is the prime institution in administering arbitration for the resolution of commercial disputes in the Country. Seedantha Kulathilake, Chief Executive of SLNAC, Muhammad (Rumee Ali), vice chairman of BIAC, signed the MOU on behalf of their respective organizations at the BIAC office in Dhaka, Bangladesh.
‘The respective chairmen and signatories were joined by Priyantha Gamage, Board Member and Johann Atapattu, Coordinator, SLNAC together with Priyanka Roy, Senior Counsel and Ms. Moyee Mina Haque on behalf of BIAC.’
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.”
