Business
Increased footfall signals quick uptick in consumer spending: fashion retailer
by Sanath Nanayakkare
Fashion conscious consumers who had to remain indoors for most of the past year due to the pandemic, are emerging as the major group influencing sales of clothing items and accessories in the run up to Aluth Avurudu season, Dinesh Ekanayake, an assistant general manager at Fashion Bug told The Island Financial Review on Saturday.
He said he could already see a full year of pent-up fashion consciousness and desire waiting to be unleashed, driving a higher footfall to their stores spurring a notable rebound in consumer spending.
“We also notice that the consumer behaviour when choosing products has become more discerning and sophisticated. So we have focused on how consumer requirements can be satisfied and we drew our attention to the development of more products and brands according to consumer needs and attitudes,” he said.
When asked about the differences between men’s and women’s shopping habits. Dinesh said,”Women tend to spend more time in the store while men are more likely settle for the first feasible item meeting their needs. And women buy more items than men do.”
Asked which gender spends more on clothes, he said,” That’s an easy question. Women spend more on clothes. But let me say this too. Women are more likely to walk around and compare the prices unlike men perhaps because they buy clothes more frequently.”
Responding to another question he said, “Yes, we are aware that consumers have to bear price pressure in the food market, so we have made a good arrangement at our stores to balance it out and make them feel at ease. We have done it by focusing on ‘value for money’ for our consumers, after considering the broader economics they have to deal with on a daily basis. With the new expansion and other measures, we are ready to cater to all segments of our consumers without leaving anyone behind.”
Dinesh made these comments when Fashion Bug introduced a new look to their Maharagama branch, opening the refurbished branch to the public in the area.
Dr. Anil Jasinghe, Secretary to the Ministry of Environment was the chief guest at the event.
Dr. Jasinghe said,” My association with Fashion Bug goes back to 2001 when I used to take my daughter to Fashion Bug near British Council to do some shopping. Later we formed an official bond where Fashion Bug wanted to engage in corporate social responsibility activities in healthcare settings. They agreed to a proposal forwarded by me to make their CSR work more formal and sustainable over a period of five years at least. They accepted that concept and they have been adopting the model for maintaining the particular clinical ward at the Colombo South Teaching Hospital and a number of other hospital wards in the country today. We are glad to see that other companies also have embraced this model in their CSR work in the health sector to help out the patients”.
Shabier Subian – CEO of Fashion Bug said, “It’s no secret that due to unprecedented events, many of our clients seek something to add a little brightness and colour in their lives. Let Fashion Bug be your ‘silver lining’ with something new for everyone.”
Business
Steps leading to the achievement of SL’s national interest in IOR
Sri Lanka needs to build awareness, effective policies and encourage regional multilateral frameworks to develop a multi-pronged approach to secure its national interest and safeguard regional stability in the Indian Ocean Region (IOR), as the region together with its seabed have become an area of strategic competition, former Assistant Chief Cabinet Secretary to former Japanese Prime Minister Shinzo Abe, Prof Nobukatsu Kanehara said.
“The Indian Ocean has been a maritime highway for millennia, with Sri Lanka being a midway point of the flow of trade, culture, technology and intellectual progress, Prof Kanehara said at the 4th Pathfinder Foundation Sri Lanka Indian Ocean Security Council Conference held recently at the Cinnamon Grand Hotel. The forum was presided over by Pathfinder Foundation Sri Lanka Chairman Ambassador (retd.) Dr. Bernard Goonetilleke.
The forum’s purpose was to obtain expert commentary regarding the need for Sri Lanka to ‘up its game’ in the IOR.
Abe said that from the 1870s onwards, the Indian Ocean had become the global communications highway, with the British Empire laying submarine cables from Aden to Mumbai, linking Europe to South Asia.
‘Since then, with the passage of time, Ceylon, and later Sri Lanka, has seen the bulk of the global digital communications umbilical laid through its maritime domain of influence, with over a dozen such cables laid over the island’s Exclusive Economic Zone (EEZ) thus far, he said.
Prof. Kanehera added: ” With the rise of Artificial Intelligence (AI) and increasing digitisation, such submarine cables have become critical strategic infrastructure for the island nation as well as the region.
‘This timely conference came as world powers rushed to secure critical minerals needed to maintain a technology edge over rivals, both militarily and economically, disrupting the longstanding rules-based order, especially at sea and in trade.
‘The lack of cognition regarding how to understand and navigate the return to a near Cold War era strategic competition in the Indian Ocean, and increasingly in the sub-surface domain and the seabed, among Sri Lanka’s policy making community, bureaucrats and public leaves the economically weakened island nation more vulnerable to geopolitical coercion, shocks and tug-o-war, which will likely increase in the coming decade.’
By Hiran H Senewiratne
Business
Automobile Association of Ceylon donates towards Disaster Relief Support Fund
Automobile Association of Ceylon (AAC) donated Rs. 25 Million towards the Disaster Relief Support Fund to assist the Ditwah Cyclone victims.
A donation was handed over to Dr. S N Kumanayake, Secretary to the President of Democratic Socialistic Republic of Sri Lanka by Dhammika Attygalle, President – AAC at the Presidential Secretariat on the 19th February 2026 in the presence of Executive Committee members.
Dhammika Attygalle President AAC (third from Left) handing over the cheque to Dr S N Kumanayake, Secretary to the President of Democratic Socialistic Republic of Sri Lanka.
In the picture L-R Lasitha Gunaratne- EXCO Member – AAC, Devapriya Hettiarachchi – Secretary -AAC, P H Liyanage, P B Kulatunga & Indunil Udaya – Members of the EXCO – AAC
Business
‘Sri Lanka’s first AI-powered digital trainer for Banca partners’
HNB Assurance PLC recently introduced NAVI, The Digital Trainer, a new AI-powered training companion designed to support its banca staff with instant, reliable access to knowledge, whenever they need it. The solution was unveiled at Partnership Life, the company’s annual forum dedicated to celebrating the performance of its Partnership Channel.
Built to make learning simpler and more accessible, NAVI is a voice-enabled AI chatbot that helps banca staff quickly find product information, policy details, and process-related guidance by drawing from a centralized knowledge bank. Whether on the go or at the point of customer interaction, NAVI ensures that answers are never out of reach.
Sharing his thoughts, Sanesh Fernando, Chief Business Officer / GM – Partnership Channel at HNB Assurance, opined, “With NAVI, our intention is to make learning a part of everyday conversations. By combining chat and voice capabilities, we are making it easier for our officers to learn on demand and perform with greater confidence.” He further noted that it is this continuous focus on meaningful innovation that has consistently set HNB Assurance apart within the bancassurance space. “Solutions like NAVI reflect the way we think and operate as a Partnership Channel. This commitment to enabling our partners and bancassurance officers through practical, forward-thinking initiatives has been a key driver in our journey, one that has seen us being recognized as the Best Life Bancassurance Provider for five consecutive years, while also delivering strong and sustained growth year after year.”
Commenting on the launch, Suneth Jayamanne, Chief Information Officer / GM of HNB Assurance, said, “We see NAVI as a support system rather than a piece of technology. Our Bancassurance officers operate in fast-paced environments and having instant access to the right information can make all the difference. NAVI is about helping our people feel more prepared, more confident, and more connected to the knowledge they need to serve customers better.”
The launch of NAVI was marked by an engaging reveal featuring an AI-generated avatar that introduced the digital trainer and its capabilities, symbolizing a shift towards a more intuitive and people-friendly approach to learning.
As HNB Assurance continues to expand its Partnership Channel, innovations such as NAVI highlights the company’s focus on building strong, well-supported partnerships, blending technology with a deep understanding of how people learn, and work.
HNB Assurance PLC (HNBA) is one of the fastest growing Insurance Companies in Sri Lanka with a network of 79 branches. HNBA is a Life Insurance company with a rating of ‘A’ (lka) by Fitch Ratings Lanka for ‘National Insurer Financial Strength Rating’. Following the introduction of the segregation rules by the Insurance Regulator, HNB General Insurance Limited (HNBGI) was created and commenced its operations in January 2015; HNBGI continues to specialize in motor, non-motor and Takaful insurance solutions and is a fully owned subsidiary of HNB Assurance PLC. HNB General Insurance has been assigned a ‘National Insurer Financial Strength Rating’ of ‘A’ (lka) by Fitch Ratings Lanka Limited. HNBA is rated within the Top 100 brands and Top 100 companies in Sri Lanka by LMD and HNB Assurance has won international awards for Brand Excellence, Digital Marketing and HR Excellence including the Great Place To Work® Certification, and won many awards for its Annual Reports at award ceremonies organized by the Institute of Chartered Accountants of Sri Lanka.
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