Business
Hasini Gunasekara recognized as one of South Asia’s Outstanding Contributors to Women’s Empowerment
India, August 2022 – Hasini Gunasekara, entrepreneur, Director of Naturals salon chain in Sri Lanka, and Managing Director of International Academy of Beauticians was recognized as an outstanding contributor towards women’s empowerment and was awarded the Woman Influencer Award at the recent South India Miss & Mrs – 2002 Award Show organized by the All India Hair and Beauty Association. This recognition was awarded for her exemplary efforts in providing a platform for women to pursue a profession and be economically independent through Naturals Lanka Grooming (Pvt) Ltd. She was instrumental in taking Naturals, India’s No. 1 salon chain, international.
“The journey of an entrepreneur can be difficult with most of the motivation being self-driven. In an environment of uncertainty, receiving this recognition and to be on the same platform alongside professionals of another country was an amazing experience,” Hasini shared, “I feel proud knowing that the community in India recognized my efforts and it is a great encouragement for me to know that I have reached beyond the boundaries of my country.”
Naturals Lanka Grooming (Pvt) Ltd is the chain of franchisee salons based in Sri Lanka, operating with 100% local ownership. “Franchising was a novel concept in the Sri Lankan business world at the time we decided to launch Naturals Sri Lanka. However, it proved to be a successful concept. With the support of my team, I have been able to expand and today we are seven salons strong,” she said.
Established in 2017 in Boralesgamuwa, Naturals salons have since expanded to Nugegoda, Thalawathugoda, Kiribathgoda, Kotahena, Wattala, Kandana and have empowered women by providing opportunities for financial independence through direct employment, beauty education and encouraged entrepreneurship through franchise opportunities.
Groom Sri Lanka is Hasini’s key vision for her customers. “I want everyone to take care of themselves and have that personal confidence for themselves. One of my biggest dreams is for all Sri Lankans to have access to affordable, comfortable luxury services for personal grooming.”
The International Academy of Beauticians was established by Hasini to provide high quality hairdressing and beauty education, in a safe space for all students and supply employable skills to the industry.
“There is a lack in harnessing good talent in the industry. I want to popularize the concept of intrapreneurship where stylists can progress in their careers without financially investing into a business, improve their skills, earning capacity, and for the beauty industry to be a sought-after industry to be employed in. My academy aims to provide education on par with international standards ensuring qualified stylists can find employment in any part of the world,” she explained her plans for the growth of the industry.
Business
Affairs of Sri Lankan Airlines could be turned around using local expertise – former CAA chair
The financial affairs of national carrier Sri Lankan Airlines could be turned around along with the fortunes of Mattala Airport, using local management expertise without divesting these assets, former chairman CAA and veteran travel and tourism expert Upul Dharmadasa said.
“Sri Lanka has experts and knowledgeable persons to develop Sri Lankan Airlines into a viable entity. But when it comes to the debt restructuring process the government should absorb the losses to salvage our national carrier, former chairman Civil Aviation Authority Upul Dharmadasa told The Island Financial Review.
Speaking on Mattala Airport Dharmadasa said that during the Covid 19 pandemic he spearhead the airlines’ operations to bring more than 138,000 Sri Lankans back into the country. “At that time Mattala Airport functioned as a second international airport and it assisted the government in managing Covid patients in a more systematic way, he said.
Dharmadasa added: ‘Further, Mattala Airport’s 12 anniversary falls today. It falls on the government to develop it as the second international airport. It could attract large aircraft.
“We need to deploy proper and qualified persons to streamline the entire process.
“I have been in the airline industry for more than four decades. The number of airline arrivals in the country and departures from it have come down considerably after Covid 19 pandemic.
“In this scenario, Sri Lankan Airlines should focus on launching new flights to US and Canada. Together they account for more than 1.4 million Sri Lankan diaspora members who fly to Sri Lanka.
“Sri Lankan Airlines should resume Rome flights as well, which is a lucrative market. Apart from that Sri Lankan Airlines should focus on new destinations, wherein they could sell tickets and attract huge revenue to the airline.
“The airline should have 25 aircraft to offer uninterrupted services to air travelers but at present it has only 23 aircraft.”
By Hiran H Senewiratne
LOLC Al-Falaah, Sri Lanka’s leading provider of alternate financial solutions, proudly announces the launch of ‘Al-Falaah Wakalah Future-Cash’, a pioneering Shariah-compliant alternative for Factoring, Invoice & Cheques discounting facility, designed to transform business financing. This ground-breaking financial solution empowers businesses to elevate and realize future cash flows in real-time, while maintaining adherence to ethical financial principles. Setting a new benchmark in Sri Lanka’s Islamic financial services sector, this initiative strengthens LOLC Al-Falaah’s commitment to innovation and excellence in the alternate finance arena.
Unlike conventional Factoring, which relies on interest-based returns against receivables, LOLC Al-Falaah’s ‘Wakalah Future-Cash Today’ product is structured under the ‘Wakalah-Bil-Istithmar’ concept, ensuring full compliance with Islamic economic jurisprudence. Through this model, LOLC Al-Falaah provides capital infusion into business operations in exchange for a pre-determined Anticipated Profit Return (APR), eliminating interest-based transactions. Businesses are appointed as agents to deploy these funds within their operations, with surplus earnings allocated as a performance incentive. This structure enhances financial discipline, promotes transparency, and encourages ethical business practices.
The introduction of this pioneering facility is particularly timely as Sri Lanka transitions towards economic recovery and long-term stability. Shiraz Refai, Head of Alternate Financial Services at LOLC Al-Falaah, emphasized the significance of this initiative: “As Sri Lanka embarks on a path of economic resurgence, businesses require the right financial instruments to capitalize on emerging opportunities. As a trailblazer in the alternate financial services sector, LOLC Al-Falaah has identified a critical gap in the bills-discounting and factoring industry. The launch of LOLC Al-Falaah’s ‘Wakalah Future-Cash Today’ product presents a strategic solution that enhances liquidity and working capital efficiencies while adhering to Islamic financial principles.
City Cycle Industries Manufacturing (Pvt) Ltd, a leading provider of sustainable mobility solutions and renowned for its household brand Lumala, has been honored with the Best National Industry Brand award under the Large-Scale Other Industry Sector at the recent National Industry Brand Excellence Awards 2024.
Organized by the Sri Lanka Technical Development Board under the Ministry of Industry and Entrepreneurship Development, the award ceremony was held on 21 February at Eagle Lakeside and saw the participation of distinguished leaders from diverse industry sectors. The vent was graced by Prime Minister Harini Amarasuriya as the Chief Guest.
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