Roshen Silva gets raw deal
Susal and Sachini clinch national titles
Savinaka, Ranithma win singles titles
Vishmi shines as Rathnavali Balika clinch Under 19 girls’ cricket title
Juventus set for Champions League thanks to Bonucci double against Venezia
Sri Lanka’s petro-chemicals to be introduced to Indian market through Tamil Nadu start-up
Raigam Tele’es celebrates Sri Lankan TV artistes with support from Sampath Bank
‘SL’s banking sector suffering from a lack of forex liquidity’
Dialog Fibre set to power Capital Heights with the latest in fibre optic technology
DFCC Bank partners with USAID to support Sri Lanka’s MSMEs, with a focus on women-led enterprises
Axiata Digital Labs, a leading provider of innovative software services, has announced today that founding team member, Namal Jayathilake, has been chosen as its new Chief Technology Officer. Namal has been with the Axiata Group for over 18 years, in various capacities, and joined ADL in January 2019, as VP of the Emerging Technology business unit.
In his new role, Namal will provide leadership to the entire Engineering Organization at ADL. He will primarily focus on engineering delivery and rigour, people growth and development, R&D, and business sustainability.
“We are all thrilled to have Namal lead the entire engineering team at ADL,” said Thushera Kawdawatta, CEO of ADL. “His leadership and experience in the technology space along with his significant effort, contribution, and dedication over the years were critical in accomplishing our organizational goals and continuous growth I am delighted about our company’s enormous potential for development and innovation, and I am convinced that Namal will propel ADL to new heights.”
“I am honoured to step into my new role as Chief Technology Officer of ADL,” said Namal Jayathilake. “Thanks to our world-class engineering team and culture of innovation, ADL is strategically placed to redefine how industries and enterprises transform digitally and expand business boundaries. I’m excited to spearhead the use of Technology to drive innovation, efficient solution delivery, and make a positive impact on the wider industry.”
Namal has deep experience in core telecom functions, Digital Transformation, Software development and delivery, and product R&D and delivery. His extensive experience in working with global industry leaders makes him uniquely suited to lead the recently reorganised engineering group and oversee all engineering practices at ADL in order to optimize synergy.
Namal holds an MBA (PIM) from the University of Sri Jayewardenepura, PG Dip in telecommunication, and his B.Sc. Eng. (Hons) in Electronics and Telecommunication from University of Moratuwa.
PMI for manufacturing and services activities expands in March
SLT-MOBITEL clinches Infrastructure and Utilities accolade at National Business Excellence Awards 2021
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By Hiran H.Senewiratne
For the first time, an Indian e-commerce wholesale startup for emerging brands and distributors in Sivagangai, Tamil Nadu, will introduce Sri Lankan petro- chemicals to the Indian market, CEO of Tamil Nadu’s Vinayagam Associates T. Vinayaga Murugesan said.
” We are now in the process of connecting leading and emerging brands in India to reach and expand their customer, dealer and distributor network across India successfully. When I met Sri Lanka’s Deputy High Commissioner in Chennai, Dr. D. Venkateshwaran, he requested me to explore the possibility of marketing some top Sri Lankan brands in Tamil Nadu and all over India through our ‘DigiRiver.in’, an e-commerce platform, Murugesan told The Island Financial Review.
Murugesan added: ‘Lubricants, such as, engine oils, hydraulic fluids, gear oils, transmission oils, greases and other such lubricants are used in various applications in the agriculture sector to protect them from wear and tear caused due to continuous usage and also in the motor segment and specially for three- wheelers.
‘After a tour of Sri Lanka, I found that Sri Lanka has a vibrant lubricant market and the products are economical and are of high quality.
‘The Sri Lankan lubricant market is expected to grow at more than 3 per cent each year after it suffered a setback due to the pandemic lockdowns in the country.
‘Leading companies, such as, Chevron Ceylon Ltd., IOC and Laugfs Holdings Ltd., have assembly plants and blending plants in Sri Lanka that offer products for both the automobile and industrial sectors, with export capabilities to other regions.
‘Most recently Ideal First Choice (Pvt.) Ltd, a wholly-owned subsidiary of the Ideal Group, has teamed up with Gulf Oil Lubricants, India to bring lubricants to the Sri Lankan market.
‘India is one of the leading countries in the world in terms of vehicle production. In 2021 the total production volume of vehicles in India was around 22.7 million units, which includes around 400,000 three-wheelers.
‘Despite the manufacture of lubricants for these, India still imports around 40% and in Tamil Nadu alone over 25 per cent of lubricants are imported. I plan to take a sizable share of these exports from Sri Lanka as it would be cheaper for the end user. This is because we could get benefits under several bilateral agreements with Sri Lanka.
‘I intend to commence lubricant imports from Sri Lanka to India soon and distribute them all over India via our e-commerce portal. We also have a strong transport system to back up this distribution all over Sri Lanka and this process will also help Sri Lanka to add a new item to its export basket and gain much needed dollars for the country.’
The star-studded 17th Raigam Tele’es, the premier primetime television awards event of Sri Lanka, raised the curtain on a gala night at the Shangri-La Hotel, Colombo. A distinguished gathering was in attendance. The Grand Awards Ceremony rewarded the accomplishments of talented artistes, and recognized noteworthy contributions made to Sri Lanka’s teledrama programming, to the local television industry, and to the media sector in the past year.
One of several sponsors, Sampath Bank once again signaled its support for Sri Lanka’s entertainment industry by resuming its role as the main corporate sponsor for this event. The move spotlighted the strong, decade-long partnership between Sampath Bank and the Raigam Tele’es.
The glittering night celebrated teledramas that had captivated audiences and the artistes who had starred in them in 2020 and 2021. The nominees for 111 awards in seven categories were announced at a function prior to the main event.
Screen stars Ravindra Randeniya and Sriyani Amarasena were the chief guests. A large gathering of notable personalities–including artistes, producers, directors and journalists–graced the occasion.
By Hiran H.Senewiratne
The banking sector in Sri Lanka suffers from a lack of forex liquidity in spite of being a stable sector in the country, Central Bank Governor Dr Nandalal Weerasinghe said.
” Our banking sector is quite stable but a lack of forex liquidity, both in private and state banks, is an issue. But we will make every possible attempt to increase the inflow of dollars to the system, Weerasinghe told a media conference recently.
“We have plans to remove a forced conversion rule for services exports as part of plans to gradually relax controls imposed in recent months, he said.
“In the case of services exports, like IT and tourism, we will remove the mandatory conversion requirement, the Governor said.
Weerasinghe added: “Goods imports are made through the Customs. We have no way to track these services. We have been told that some people are not bringing these moneys in at all because of the forced conversion rule.”
Meanwhile, the Department of Census and Statistics last Friday releasing its data said that Sri Lanka’s inflation, as measured by the change in the Colombo Consumers’ Price Index (CCPI), increased to 29.8 per cent in April 2022 from 18.7 per cent in March 2022.
Year- on -Year inflation for the Food Group increased to 46.6 per cent in April 2022 from 30.2 per cent in March 2022 and Year- on- Year inflation for the Non- Food Group increased to 22.0 per cent in April 2022 from 13.4 per cent the previous month.
For the month of April 2022, on a year‐to‐year basis, contribution to inflation by food commodities was 14.69 per cent and the contribution of No Food items was 15.10 per cent.
The moving average inflation rate for the month of April 2022 is 11.3 per cent. The corresponding rate for the month of March 2022 was 9.1 percent.
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