Business
Softlogic powers up a secure software defined data center at LankaPay
LankaPay was established in 2002, under the guidance and supervision of the Central Bank of Sri Lanka as the national payment network. Owned by the Central Bank and all licensed commercial banks in the country, LankaPay is regarded as one of the most successful Public Private Partnerships (PPP) in the region.
With the ever increasing demand for digital payments, LankaPay continues to upgrade its infrastructure as a part of the company’s ongoing technology transformation journey.
Speaking of the upgrade and migration to a hyper convergent infrastructure, Dilantha Samarasinghe, AGM – IT of LankaPay stated “upgrading the Common Card and Payment System (CCAPS) to cater to the growing demand and capacity building is high on our agenda. As the operator of the national payment switch, we wish to lead the industry in adopting the latest technologies and the recent infrastructure modernization where we transferred data center infrastructure to a modern Software Defined Data Center (SDDC) architecture to ensure that the data center infrastructure provides the agility and scalability is one such noteworthy initiative. The new environment provides us with greater agility with few significant exceptions to the traditional data centers, most notably through the use of virtualization, abstraction, resource pooling, and automation. Softlogic Information Technologies delivered a flawless upgrade and data migration from traditional Virtualized infrastructure to a Hyperconverged infrastructure at our Disaster Recovery Site with a minimum downtime which is indeed commendable. The new VM ware infrastructure has offered us with unprecedented scalability and much needed agility to cater to the growing demands and smoother migration enabled us to minimize interruptions to our services which is critical to our operations.”
Roshan Rassool – Director/ CEO of Softlogic Information Technologies, shared his thoughts: “Architecting and implementing a highly Agile and secure data center is central to LankaPay’s strategy in expanding the digital economy of Sri Lanka.
The successful development of the LankPay software defined data centre (SDDC) is a monumental achievement for us. SDDC is the next generation of technology in data centers’ and provides key benefits where you can dramatically reduce the time to provision new resources and be vendor independent. It no longer takes days or weeks to set up a new physical server, provide more storage capacity to an application or modify physical networking. We are truly amazed in the way LankaPay has embraced the new technology and we thank them for providing us the opportunity to be part of their digital journey”
Sri Lanka has reached a staff-level agreement with the International Monetary Fund to secure the next tranche of funding under its ongoing bailout programme, marking a key step in the country’s fragile economic recovery.
The agreement, announced this week, will enable Sri Lanka to access approximately USD 700 million, subject to approval by the IMF Executive Board. The funds form part of the USD 2.9 billion Extended Fund Facility (EFF) programme agreed following the 2022 economic crisis.
The latest development covers the combined fifth and sixth reviews of Sri Lanka’s reform programme, indicating that the country has made sufficient progress to move forward, while highlighting the need to sustain reform efforts.
Sri Lanka’s economy has shown signs of stabilisation in recent months, supported by improved revenue collection, easing inflation, and a gradual buildup of foreign reserves. However, the recovery remains vulnerable to both domestic and external pressures.
By Ifham Nizam
Initially CSE trading was somewhat volatile despite the ceasefire in West Asia but it experienced further volatility after Israel attacked Lebanon yesterday.
However, the IMF delegation which is now in Sri Lanka to release two tranches of its relief package created some positive sentiments for the market, analysts said.
The All Share Price Index went down by 73.06 points, while the S and P SL20 rose by 10.57 points.
Turnover stood at Rs 2.96 billion with six crossings. Those crossings were: JKH 5.5 million shares crossed to the tune of Rs 807.6 million and its shares traded at Rs 19.70, CIC Holdings two million shares crossed for Rs 54 million; its shares traded at Rs 32, Access Engineering 600,000 shares crossed for Rs 44.4 million; its shares traded at Rs 74, Central Finance 116,000 shares crossed to the tune of Rs 27.5 million ; its shares sold at Rs 237, LMF 250,000 shares crossed for Rs 22.8 million; its shares fetched Rs 91.10 and Kelani Cables 200,000 shares crossed for Rs 21 million and its shares traded at Rs 105.
In the retail market seven companies that mainly contributed to the turnover were; Dialog Rs237 million (7.5 million shares traded), LMF Rs 203 million (22 million shares traded), Colombo Dockyard Rs 199.7 million (1.1 million shares traded), HBA Foods Rs 163 million (18.5 million shares traded), JKH Rs 156 million (7.8 million shares traded), JKH Rs 156 million (7.8 million shares traded), Softlogic Holdings Rs 117 million (9.6 million shares traded) and Acme Printers Rs 107 million (15.6 million shares traded). During the day 133.3 million share volumes changed hands in 23666 transactions.
It is said that manufacturing sector counters, like JKH, performed well, while food sector counters, especially LMF and HBA Foods, performed well. Other sectors too performed somewhat well during the day.
Yesterday the rupee was quoted a Rs 315.42/48 to the US dollar in the spot market from 315.30/40 the previous day, dealers said, while bond yields were quoted higher.
By Hiran H. Senewiratne
Marking 25 years of trust, growth, and service excellence, HNB Assurance PLC has unveiled its new corporate identity, transitioning to HNB Life PLC a strategic evolution that reflects the company’s forward-looking vision and commitment to empowering lives with protection and the freedom to thrive, no matter where life takes them.
This milestone signifies more than a change in name or visual identity. It represents a deliberate transformation shaped by strong performance over the past few years, during which the company has achieved remarkable growth, strengthened its market position and enhanced its customer-centric capabilities.
The newly introduced logo, inspired by the form of a wing, symbolises HNB Life’s role as a proactive enabler. It reflects the organisation’s commitment to supporting individuals in navigating life’s journey with confidence, empowering them to pursue their aspirations and live life on their own terms.
The official unveiling took place at a launch event attended by key stakeholders, strategic business partners, well-wishers and employees.
Addressing the gathering, Chairman, Stuart Chapman highlighted the significance of this transformation, stating, “As we mark 25 years of progress, the transition to HNB Life reflects our strategic intent to evolve with the changing needs of our customers and the broader market. This new identity embodies our purpose, to enable and empower individuals to achieve what they truly aspire to in life, with confidence and security. As a company we are extremely excited on what the future holds for as, as we build on an incredible foundation laid over the past two and a half decades.”
The new Vision of the Company is “To be the leader in empowering lives with protection and freedom to thrive, no matter where life takes them”.
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