Business
Top Sri Lankan companies pledge to increase women’s representation in corporate leadership
International Women’s Day
The Colombo Stock Exchange (CSE) and the International Finance Corporation (IFC) in association with the World Federation of Exchanges, the Sustainable Stock Exchanges (SSE) Initiative, UN Global Compact Network, the Department of Foreign Affairs and Trade (DFAT) of the Australian Government, UN Entity for Gender Equality and the Empowerment of Women (UN Women), and the Sri Lanka Institute of Directors (SLID) rang the market opening bell for gender equality, in line with the International Women’s Day 2023, for the eighth consecutive year, with several top Sri Lankan Companies, pledging to increase women representation in corporate leadership.
At the event 14 companies signed onto a commitment to boost female representation at the board level and in management to a minimum of 20% by 2025.
The annual global initiative highlights how greater participation of women in the economy can spur sustainable and inclusive growth, shaping a more equal future.
“The Colombo Stock Exchange joined this initiative in 2016, as one of the initial stock exchanges, and we believe this is the platform to convene business leaders, investors, and other key parties at the national level to highlight the growing business and economic case for gender equality, said CSE Chairman Mr. Dilshan Wirasekera delivering the opening remarks.”
“If we look at the progress that the Exchanges have made, specifically with regard to listed companies, we relatively had success; if we look at the numbers way back in 2018, we had 8% of women representation in our boards and that has increased to 10 % today. We have global statistics that show, women representing management in organizations even at board level have contributed for better financial results,” he added.
“The event today is used as a ‘call to action’ for businesses to advance women’s empowerment and gender equality. We wanted to invite initially the 20 S&P companies today to pledge their commitment towards increasing female representation at the board level and in management to a minimum of 20% by 2025.”
The Global Gender Gap Report of 2022 indicates the share of women hired into leadership roles has seen a steady increase, from over 33 percent in 2016 to nearly 37 percent in 2022. However, amid multiple global crises, sparked initially by the COVID-19 pandemic, there are concerns that women’s workforce participation has dropped, risking further backsliding on gender parity. IFC’s commitment to the initiative is part of its strong focus on gender equality, which includes leveraging relationships with financial institutions to expand access to finance for female entrepreneurs and increase the number of women in leadership roles.
“Better gender balance in business leadership is inextricably linked with achieving sustainable, inclusive growth. We know that making even small inroads in closing the gender gap can yield clear and positive results for businesses especially in financial performance and better decision-making processes,” said Sarah Twigg, Manager, Women in Work Program, IFC. “The commitment of the 13 top Sri Lankan companies is a significant step towards accelerating the progress we have made so far. This is also the time that Sri Lanka needs more women corporate and business leaders to help ensure an inclusive and resilient recovery in the country.”
Ms. Lalita Kapur, Australian Deputy High Commissioner to Sri Lanka and Maldives sharing her valuable insights on the initiative, stated, “The global ‘Ring the Bell’ event helps raise awareness of the essential contribution women make to our economies – and reinforces the undeniable business case for women’s labour force participation. As Sri Lanka navigates significant economic challenges, it is critical now more than ever, that we find new ways to advance gender equality.”
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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