Business
Sri Lankan entrepreneur devices process to put shredded currency notes to productive use
By Hiran H.Senewiratne
At a time when the world is encountering the major environmental issue of disposing of shredded currency notes, which are accumulating in the tens of thousands of tons on a daily basis, a Sri Lankan entrepreneur has devised a chemical-free method of putting such old currency notes to productive use by recycling them and using as a catalyst in the process disposable local fruits and vegetables, instead of burning or burying the latter.
“I invented this new disposable shredded currency note system by using local vegetables and fruits. The process is 100 percent environment- friendly. Out of the process a hard timber material could be manufactured as a by- product, Managing Director, Ceylon Eco Friendly Products (Pvt) Ltd Udaya Gunarathne told The Island Financial Review.
Gunarathne said that the hard timber which is manufactured is termite- resistant and out of it numerous utility items could be manufactured. Stationery items, packaging material, for example, could be turned out. The timber could be also used as a substitute for wooden planks.
Gunarathne added: ‘Currently worldwide, discarded currency is destroyed either by burning or dumping in the sea or by burying. Whatever option used, such material is harmful to the environment. Central Banks worldwide, including that in Sri Lanka, spend a lot of money to destroy shredded currency notes at the expense of the environment.
‘Our company, being a responsible company, has invested and patented the technology which could be used for the benefit of the country and mother nature. Our recycling process is chemical- free and we use only local vegetables and fruits or agricultural products in this process.
‘I have already informed the Cuban ambassador in Sri Lanka about this new invention, targeting the G-77 summit, which will be held in Havana, Cuba this month. At the event the environmental issue is going to be one of the hot topics and Sri Lankan President Ranil Wickremesinghe has already confirmed his participation in the event.
‘I could generate US $ 10 million per month as foreign currency for Sri Lanka. It is also said that in Europe such notes are heavily accumulating in high volumes, which has become a glaring environmental hazard. We could provide a service to the country by way of earning foreign reserves.
‘If this project kicks off it could overtake export revenue that comes from tourism, apparel and foreign remittances.
‘At present the Central Bank of Sri Lanka is responding positively to this project while the Export Development Board chairman Dr Kingsley Bernard is also enthusiastic to promote this concept in other countries.
‘If the government approves this project I need 2000 acres of land in the Kankesanturai area since it is close to a shipping port that could bring shredded currency notes from other countries for recycling. I could also cultivate fruits and vegetables that are exclusively use for this recycling process, which in turn could provide employment opportunities for thousands of farmers in the country.
‘If things move in the proper way, I am going to support my Alma Mater, S.Thomas’ College, Mount Lavinia, via the project, as a mark of gratitude.’
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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