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Visa announces senior leadership changes in Asia Pacific

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Visa, the world’s leader in digital payments, announced two senior leadership changes in the Asia Pacific region, with Chris Clark elevated from Regional President to Chairman, Asia Pacific, and Stephen Karpin named as his successor as Regional President, Asia Pacific. Both changes are effective 1 April 2023.

Clark said: “Over the last ten years as Regional President for Visa Asia Pacific, I have been committed to expanding the reach of electronic payments and growing our business by forging strong client and partner relationships, driving digital innovation in the regional payments ecosystem and building new partnerships with established and start-up fintechs, all supported by an amazing team of great payments professionals. I am excited to step into this new role, and I know that Stephen is the right person to drive strong growth for the business of all our clients and partners.”

In the role of Chairman, Asia Pacific, Clark will support regional and global initiatives, including strategic engagements with government and industry stakeholders, drive Visa’s market expansion strategy and continue his role as a non-executive director of the Visa Europe Board.

Karpin said: “In his 20-year career at Visa, Chris has shown exemplary leadership, more than doubling the size of our Asia Pacific business.  In addition to his expansive business aptitude, Chris is known for his deep commitment to our clients and teams across our markets. I look forward to following the path he has set, continuing to work closely with our clients and partners, expanding our relationships and ensuring that Visa Asia Pacific remains among the best places to work and achieve.”

As Regional President, Karpin will be responsible for the full business operations, client management and go-to-market plans for the region, based in Visa’s Regional Headquarters in Singapore.

Karpin has a deep background in the payments industry and knowledge of Asia Pacific markets, beginning his career at Visa in 2014 as Group Country Manager Australia, New Zealand & South Pacific. In 2017 he was appointed as Group Country Manager, Regional Southeast Asia, and since 2019 he has served as Country Manager, Japan, Visa’s largest Asia Pacific market. Previously, he spent 17 years in senior roles at Commonwealth Bank and Westpac in Australia and at Citibank in Australia, Singapore and Japan.



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Sun directly overhead Nittambuwa, Algama, Malwana, Aranayake, Meegahakiula and Panamkadu about 12.09 noon today (04)

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The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.

The nearest places of Sri Lanka over which the sun is overhead today (04) are Nittambuwa, Algama, Malwana, Aranayake, Meegahakiula and Panamkadu about 12.09 noon.

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Norochcholai digs into dwindling coal stocks, two units slash generation

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Plant’s output cut from 270 MW to 140 MW amidst dwindling stocks; energy analysts warn system remains “at a razor’s edge”

By Ifham Nizam

The Norochcholai coal-fired power plant is now digging into the last dredges of its coal stock, with two operational units forced to slash generation from around 270 MW to just 140 MW on Sunday as the plant ran critically short of fuel, according to independent energy analysts and sources familiar with the National System Operator (NSO).

The sudden reduction of approximately 130 MW in coal generation has once again exposed the fragile state of the country’s power supply arrangements, with the plant understood to have coal stocks sufficient only until Friday night.

“This is not how a coal plant is expected to operate. They are digging up the last dredges of coal from the plant,” an independent energy analyst told The Island.

The analyst questioned why the units had been allowed to reach this stage without earlier intervention, arguing that at least one unit should have been deloaded around 10 days ago to conserve the remaining coal.

Had that been done, the analyst said, the country could also have reduced its dependence on more expensive diesel-fired generation during the period when

coal stocks were being conserved.

The latest NSO generation figures highlight the continuing pressure on the system.

Around 7 p.m. on Sunday, when the night peak was reached, total demand stood at 2,552.7 MW. Coal contributed only 282 MW, while major hydro accounted for 1,215.8 MW and thermal-oil generation for 791.9 MW.

The night peak of 2,552.7 MW was substantially higher than the daytime peak of 2,246 MW, according to the NSO Generation Summary for August 30.

The most immediate concern is the remaining coal stock at Norochcholai.

Sources said the plant has coal only to Friday night, making the timing of the next shipment critical.

The first shipment under the emergency arrangement is expected to arrive on Friday, September 4, but the coal unloading will have to begin on the same day if

the power plant is to continue operating without further significant deloading.

That creates another potential vulnerability, with rough sea conditions posing an additional challenge to unloading operations.

Energy sector sources said that even the arrival of the September 4 shipment would not completely eliminate the danger.

The next shipment under the new coal tender would need to commence unloading around September 15. Any significant delay beyond that could again force the Norochcholai units to operate at reduced output.

“We are still at a razor’s edge”

The independent energy analyst said the situation should not be viewed merely as a question of whether a particular vessel arrives on time.

The situation also means that any further reduction in coal generation could have a direct impact on the use of oil-fired power generation, potentially increasing the cost of electricity generation.

The latest NSO figures already show the important role being played by thermal-oil generation during the evening peak, when demand rises sharply.

The analyst questioned the rationale behind allowing the coal units to continue operating at higher loading until stocks reached critically low levels instead of taking measures earlier to stretch the available inventory.

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22A: BASL decides against making written submissions after SC refuses to grant it right of reply

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The Bar Association of Sri Lanka (BASL) has informed the Supreme Court that it would not tender written submissions in respect of the petitions challenging the 22nd Amendment to the Constitution, which were heard on September 1 and 2.

The BASL said it had initially decided not to make written submissions after being deprived of the right of reply when the Solicitor General, appearing for the State, made submissions and explained the rationale and justification for the Bill.

The BASL pointed out that the Solicitor General, who made submissions at the end of the second day of the hearing, had not made a policy document available to the petitioners.

It also said the petitioners had not been given an opportunity to respond orally to the Solicitor General’s submissions or to address the Court on certain questions raised by the judges during their exchanges with the Solicitor General. (SF)

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