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Business


ABC Group introduces Islamic financial services

The Sri Lanka Market is gathering momentum in its movement towards the ‘Islamic Concept’ of investments and financing. Under the new Banking Act, all Commercial Banks and designated banks are permitted to have ‘Windows’ for operation under the Islamic Concept.
The trend shifting towards ‘Profit Sharing’ instead of ‘Interest’ bearing concept, opens out new dimension in trade and finance. This has encouraged investment companies to open out operations operating under the Islamic Shareeah without being restricted to only ‘Window Type’ operations.
ABC Group of Companies, a truly Sri Lankan Company founded in 1982 opened out another new dimension with the birth of ABC Investments Ltd. ABC Investments serves the people purely on a “Profit Sharing Basis” under the Islamic Shareeah Concept under the theme ‘BARAKAR ISLAMIC FINANCIAL SERVICES’.
ABC Group Chairman Mr. Shiran Dissanayake an innovative Business magnet had another of his vision materialized when the Board of Directors together with some leading Muslims extended their support to establish this new Independent Company different from those of the other Companies within the ABC Group under the noble “Profit Sharing” concept regulated by rules and guidelines of the Islamic Faith.
The launching of the Company took place on July 18, 2007 at Galaderi Hotel amidst a large cross section of people and Scholars in the Islamic Financial field both within Sri Lanka and outside graced the occasion. The keynote address was delivered by Hon. Minister Mr. Rauf Hakeem, Minister - Post & Telecommunication. Acting Governor of the Central Bank of Sudan and Secretary General of Al Zubair Charity Fund of Sudan were among the participants.
A tri-party MOD was signed at the launch between ABC Investments, Central Bank of Sudan and AI Zubair Charity Foundation of Sudan. Sudan was one of the first countries to start Islamic Banking. Several benefits to Sri Lanka through ABC Investments in the Financing field were included in the MOD, among which were Technical Support, Shareeah documentations, training of Staff, Manuals and Banking documentations in-addition to funding arrangements for projects both in Sri Lanka and Sudan.

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Singer appoints Malinga as Brand Ambassador for Samsung

By Quintus Perera
Sri Lanka has produced world-class cricketers in Muttiah Muralitheran and Chaminda Vaz and now, another exceptional world-class fast bowler in Lasith Malinga has emerged.
Singer Sri Lanka, has also emerged world-class in their marketing and distribution network and recently, another world-class brand Samsung has entrusted its distribution in Sri Lanka, to Singer.
At a function held at Singer Sri Lanka, Colombo Head Office, Singer entrusted Lasith Malinga as Brand Ambassador for Samsung brand when an MoU was signed by Lasith Malinga and Chairman, Singer Sri Lanka, Hemaka Amarasuriya. Singer also renewed the Brand Ambassadorship of Bhathia and Santhush, the popular singing duo.
Announcing the choice of Lasith Malinga as their Brand Ambassador for Samsung in Sri Lanka, Amarasuriya stated that both Samsung and Malinga are world-class brands renowned for superior performance and are number one in their category.
He said that the internationally renowned Business Week ranked Samsung as the number one electronics company among the world’s top 100 companies for the second consecutive year in 2007. This achievement is a reflection of Samsung’s constant innovation and research, resulting in the manufacture of technologically advanced world-class products.
Amarasuriya said that Malinga embodies these values and will make a natural fit in the minds of the consumer. The iconic fast bowler’s unorthodox bowling action made him one of the top attractions at the 2007 Cricket World Cup who made a great impact within a short span. His record-breaking feat of four wickets in a row made him a superstar in the cricketing world.
As a sport, cricket has the widest appeal and interest islandwide. Singer’s support has helped new talents emerge from the unknown to gain national and international recognition. Singer continues to be proud to have sponsored the World Cup Winning Cricket Team of 1996 and will always be in the forefront of sports sponsorship in Sri Lanka. This enhances the social bond with the community and builds equity for the brand. It is a perfect blend of passion for sports and rewards of business.
Thus, when Samsung had to choose a distributor for Sri Lanka, it, naturally, turned to Singer, Sri Lanka’s number one retailer, with 350 outlets, 175 Service Points and over 2,500 Service Personnel, serving more than 3 million customers, annually.
For Samsung, joining hands with Singer becomes a strategic partnership to enhance its footprint and notch a prominent position within the Sri Lankan market.

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Invest in your future at ICBT Kandy Campus

International College of Business and Technology (ICBT) is one of the fastest growing private sector educational institutions in Sri Lanka providing quality higher education of international standards in collaboration with some of the best Universities and educational service providers in Australia, United Kingdom, India and Thailand.
ICBT Kandy Campus which was established in July 2006 is the leading higher educational institute with state -of- art lecture halls, leading edge technology with computer labs, broad band Internet, audio visual facilities and library facilities to provide students with a unique learning experience.
Undergraduate Education
ICBT offers a unique opportunity for the students who aspire to get qualified in the areas of busiess and technology with world wide recognition. The undergraduate degree programs are comprised of Higher National Diploma (HND) in Computing, HND in International Business Management and HND in Quantity Surveying. The courses are designed to achieve a balance between depth of knowledge acquired through specialization and breadth of knowledge gained through exploration. Currently ICBT Kandy Campus carries12 undergraduate batches of different programmes with nearly 200 students.
Postgraduate Education
ICBT Kandy Campus also offers valuable opportunities for life long learning by introducing the Manipal MBA programme. ICBT is proud to be the one and only private educational institution in Kandy to offer a MBA to the prospective students from different fields of studies and experience. It is an integrated programme designed to provide an advanced course on management for developing knowledge and skills in fundamental management discipline and career enhancement specially for those who are currently employed. At present there are 3 batches of MBA with around 50 students, exposed to an interactive learning through lectures, discussions, group work, presentations and business research.
Language Programmes
ICBT Kandy Campus offers a variety of courses in English ; Diploma in English , Practical English and International English Language Testing System (IELTS) for the individuals aspire to be more confident and effective in using English language skills. The main objective of English Language Programmes conducted by ICBT Kandy campus is to immerse the students in a learning environment which provides each student with the skills and language needed for a smooth transition into academic study and professional life. Currently there are more than 400 students who got the benefit from language programmes conducted by ICBT Kandy Campus. Since language programmes are very popular among the students campus has made arrangements to expand the Language Unit to meet the new demand.
Faculty
The faculty of ICBT Kandy campus is comprised of well qualified, experienced and dedicated panel of lecturers. They ensure the programmes offered by ICBT Kandy Campus are of excellent quality and fit in to the international standards.

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Sri Lankan delegates meet UN Secretary General

SUNFO Director General Dr. Deshapriya S. Wijetunga and Millenium Development Ambassador Deshamanya Dr. A.S.P. Liyanage as Sri Lanka delegates at the United Nations headquarters in Geneva Switzerland. Photograph shows the Secretary General of the United Nations Ban Ki Moon with Dr. Wijetunga and Dr. A.S.P. Liyanage.

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Orange Electric’s goes for Silver and Gold

X 7 range of switches and sockets that complement modern interiors

Orange Electric recently introduced a new generation of switches and sockets that are already making their mark as a much sought after electrical accessory, among Sri Lankan architects, interior decorators and discerning buyers.
Bringing in the elegance of gold and the charm of silver to the home and workplace, Orange Electric’s exciting new X7 range of contemporary Ran Ridee switches with gold and silver surrounds, lend themselves to old world charm as well as the minimalist cubism of the modern architecture. Today’s interiors accentuate simplicity and offer an aura of calm and serenity as a backdrop to a hectic lifestyle. Straight lines, simple uncluttered designs and earth toned interiors are the sought after look in contemporary homes and offices, to which the muted shades of pale silver and champagne gold of Orange switches and sockets are the ideal complement.
Charm and elegance have long been the hallmarks of great civilizations throughout the ages. From the breath taking artifacts of the Indus, Mesopotamian, Greek and Roman periods to the accessories of the more recent French and Elizabethan periods, man has sought beauty to adorn his home. This quest for beauty has today, extended to building accessories as well, as today’s discerning buyers also seek out beauty in terms of sanitary ware, floors, tiles, roofing and lighting. Whereas just a few years earlier, switches and sockets served mainly a functional purpose, the new concept of creating one’s living space to reflect one’s individualistic personality has seen the advent of aesthetically designed interiors, and the mundane designs and colours have become a thing of the past
”It is now a challenge, to make the client happy,” explained Romaine Ferdinands Marketing Manager Orange Electric, “People who have been overseas are exposed to designs abroad and so are very specific about what they want. They would even shop overseas and pay extra for what they perceive as being upmarket accessories. In turn, we need to be updated to meet these current trends.”
This realisation drove the vision of Orange Electric, and inspired meticulous research and creative insights that created aesthetically pleasing electrical accessories to blend with current architectural styles and the use of contemporary materials of chrome, steel, wood and cement. Orange Electric’s switches and sockets are also tested among target consumers; tests for acceptability were carried out successfully in Sri Lanka as well.
Orange Electric’s X 7 range of switches and sockets offer safety and durability in addition to providing the finer finishes to the home and work place and are very competitively priced. They are available at all leading hardware stores and electrical outlets.
ORANGE Electric is ISO 9001-2000 certified. The Company’s switches and sockets comply with British standards of quality and are backed by a life time guarantee that stakes their claim as a “One-Life switch”.
ORANGE electric is a fully owned Sri Lankan company that operates across the boundaries of 15 countries, having made its mark in a non traditional value added export that showcases the engineering acumen of our country. More information on the Orange range of switches and accessories is available at the Orange Electric Jinaratne office on tel. no 4792100.

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State Mortgage Bank extends Housing Loan Clinic

The first ever Housing Loan Clinic organized by the State Mortgage and Investment Bank was held on July 7, 2007 from 7.00 am to 7.00 pm at it’s Head Office very satisfactorily. Hundreds of customers attended this credit clinic and obtained instant solutions for their problems with regard to obtaining new housing loans and also for repayment issues of their existing loans.
Existence of property Valuers, Legal Officers, credit officers and the recovery officers in one platform was of immense value to obtain quick solutions to the customers’ issues and it was very happy to see customers retuning to their homes with smiles in their faces, a spokesperson for the bank said.
The management of SMIB has decided to continue with their Credit Clinic on first Saturday of every month because of the extended popular demand of the customers. Thus the public who are engaged in employment will get the benefit of attending to their housing loan issues on a holiday without disturbing their day to day activities.
As such the State Mortgage Bank invites public to attend this once a month housing loan clinic which will be held on first Saturday of every month from 9.00 am to 3.00 p.m. at its head office and obtain the maximum benefits to get housing dream a reality.

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BoC launches ‘Ran Kekulu’a weekly TV talk-show

‘Ran Kekulu’ is an innovative weekly TV talk-show series that addresses important issues of practical relevance to teenagers who are striving for success in diverse fields. It also helps their parents and teachers to obtain insights into typical problems faced by modern-day teenagers. Each episode provides an animated forum for discussing and debating a key topic that directly influences the ability of teenagers to achieve their goals, and the guidance they would require from their elders.
‘Ran Kekulu’ makes teenagers and their elders aware of the multidimensional aspects of concepts teenagers will have to assimilate in order to overcome the complex challenges they will face as they grow up. By debating and resolving conflicting viewpoints of teenagers and their elders in many important areas, ‘Ran Kekulu’ will help teenagers to develop their personalities and succeed in their personal and working lives.
Each episode of ‘Ran Kekulu’ provides practical insights into a key topic such as creativity, leadership, education, discipline, health, diet, sports, assertiveness, etc. The series covers a wide conceptual foundation that ‘will help teenagers to acquire the attitudes necessary for success, and provides insights their elders will need to help them achieve their goals. Important concepts such as emotional intelligence and strategic thinking are embedded in each episode.
“A major dimension of our Corporate Social Responsibility (CSR) programme focuses on the key role children will play as they grow up and contribute to national development in the challenging decades ahead. This TV talk show series will give teenagers all over Sri Lanka practical insights into topics that will directly impact their attitudes and behaviour,” said Mr. B. A. C. Fernando, the General Manager of Bank of Ceylon, explaining the rationale behind the Bank’s decision to sponsor this innovative weekly TV series.
“Children are our future leaders. This TV talk-show series will influence not only teenagers but also their parents, elders and teachers who have a great responsibility to help them succeed an increasingly volatile and competitive world,” he added.
‘Ran Kekulu’ uses an informal but animated talk-show format and features an anchor, together with teenagers who have a direct relevance to the topic under discussion, some parents, teachers and opinion leaders. ‘Ran Kekulu’ will be telecast on the ITN channel every Saturday from 4:30 to 5:00 p.m., starting from July 28, 2007. The first episode will discuss the complex issues involved in nurturing creativity among teenagers.
The ‘Ran Kekulu’ TV talk-show series is conceived and directed by Dr. Ashoka Jinadasa, Corporate Communication Officer of Bank of Ceylon. Explaining the thinking behind this innovative TV talk-show series, he said. “We have chosen controversial topics that are of great practical relevance to teenagers, where the conventional wisdom of elders often clash with the attitudes of modern-day teenagers. We use an unusual studio set and dynamic visual techniques to match the youthful exuberance and mindset of teenagers”.

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UNT Trading launches Enspa range

UTN Trading Company Pvt. Ltd. launched a new range of cosmetics under the brand name of Enspa recently. Company’s Managing Director said that Enspa is a range of cosmetics manufactured according to a researched formula to suite the tropical climatic conditions. Each product is made using natural extracts hence is “one-of a kind”.
All Enspa products are manufactured in Sri Lanka and the products have established markets in China, Singapore, Hong-Kong, Japan, and South Africa. Enspa range consists of Face Wash, Facial Scrub, Fairness creams and Cleansing milk.
He further stated that the company is planning to introduce suitable and quality cosmetics products to the market place and expect them to become household names particularly among the educated consumers.
UTN Trading Company is the marketers of Enchanteur range of cosmetics, “Mint” tissue products, “Leeds” baby care products “easy care” sanitary napkins & “kodomo” kids toothpaste and all these products are freely available in all the super markets, pharmacies and other outlets.

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Union Assurance Revolutionise the insurance industry

Union Assurance PLC has revolutionized the general and life insurance industries by launching two new products catering to all segments of the market. The new products, which offer unparalleled benefits and convenience to customers compliments Union Assurance expansion strategies and further consolidates their position as a premier insurer in the country.
Union Motor “Call & Go” is an innovative and flexible motor insurance policy, which aims to provide an unparalleled level of convenience in the event of an accident. For the first time in Sri Lanka, customers don’t need to stay at the accident site until an assessor inspects the vehicle. All they have to do is call the Union Assurance 24 hour call center on 011-2428444, obtain a reference number, and proceed on their journey.
Union Assurance has tied up with a number of “elite” garages across the island to ensure that customers receive a hassle free service. Union “Call & Go” customers could drive into any one of these garages, and they will take care of the rest.
If customers prefer to repair the vehicle at a garage of his/her choice an assessor will visit the customer at a time and place convenient to them to assess the damage
The above options are in addition to arranging an assessor to visit the accident site to provide an on-the-scene assessment.
The company also launched Union Life Advantage to cater to a need in the life market for an insurance solution offering enhanced returns combined with guaranteed protection and greater flexibility. It is the only product in the market to guarantee an annual dividend at the start of each year. For 2007, policyholders will be entitled to a minimum guaranteed dividend of 12%. This is in addition to the host of protection benefits tailored to enhance the financial security of our customers and their dependants.
Union Assurance PLC is powered by the combined strengths of John Keels Holdings PLC and Carson Cumberbatch.

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A blood donation campaign by Atlas Company

Ceylon Pencil Company Ltd. the producers of Atlas brand of school stationery and office equipment recently held a blood donation campaign as a part of their corporate social responsibility. The campaign was held at their company premises at Parakrama Road, Peliyagoda.
The Management and the employees of ‘Atlas’ company together with the residents of Parakrama Road participated in this campaign. Altogether over
150 people donated their blood at this campaign which according to the company was a success.
This was the first blood donation campaign organized by Atlas Company and they intend holding such campaigns every year in the future.

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