Business

vivo Rewind 2021 – Another Blockbuster Year For The Global Smartphone Brand

Published

5 years ago

2022/01/1

With a variety of product launches, improved customer service, a global footprint, successful events, and increased sales, vivo, has emerged as a global leading smartphone maker, and has had another successful year in Sri Lanka. According to Canalys, vivo ranked fourth in the global smartphone market.

Let’s look back at all of vivo’s accomplishments this year, as we look forward to a much bigger and successful 2022.

Expanded the Product Portfolio

This year vivo expanded its portfolio at an astounding level. It introduced two smartphones in the V series – the V21 5G with a 44MP OIS Night Selfie System and the V21e with a 44MP Eye Autofocus Technology. In addition to this, the brand also launched the Y1s, Y12s, Y51 and Y53s with stellar features at great price points, as part of the Y series portfolio.

Self-Designed Imaging chipset V1

V1, a fully customized integrated circuit chip dedicated to imaging and video applications with leading edge visual quality, was unveiled by vivo. The Imaging Chip V1 meets user needs by optimizing smartphone application scenarios such as viewfinder look and video recording, in accordance with vivo’s imaging system design.

Second Fastest Growing 5G Smartphone Brand

In Q1 2021, vivo became the second-fastest growing 5G smartphone brand in the world, with 19 million units shipped, up by 62 percent from the previous quarter. vivo continues to focus on innovations and breakthroughs in the 5G mobile experience.

CSR Activities under the initiative #vivocares

vivo also undertook two community benefit activities in Sri Lanka under the initiative #vivocares. The first one involved distributing a smartboard to Olcott Maha Vidyalaya in Galle to ensure that 1200 children get an equal digitalised learning opportunity during the ongoing pandemic. For the second activity, vivo provided special donations including bags and stationary items to 150 underprivileged children in Getaheththa Tamil Vidyalaya of Rathnapura district.

EURO Partnership – “To Beautiful Moments” Campaign

vivo became one of the presenting sponsors at EURO and debuted its “To Beautiful Moments” campaign – a platform that encourages and enables fans to be in the moment with friends and family.

Innovation in 5G Technology

vivo is navigating towards large-scale 5G adoption making 5G devices ever more accessible and affordable and has released over 20 models of 5G devices globally. vivo submitted over 5,000 5G proposals to the 3GPP, leading to 15 technical features and getting three technical projects approved. Vivo holds over 3,000 patents for 5G inventions and ranks top 8 in terms of the company’s impact within 3GPP.

Partnership with National Geography – VISION+ Mobile Photo Awards

vivo teamed with National Geography for the second time and launched the VISION+ Mobile Photo Awards. vivo has worked actively to inspire more people to embrace the joys of creation and to accelerate the development of mobile imaging.

Avurudu Festive Campaign

vivo launched a special campaign “Avurudhu Wasi” during the Sinhala and Tamil New Year in Sri Lanka. During this campaign, vivo offered its customers a chance to win special prices like vivo gift boxes and other exciting items on the purchase of exclusive vivo smartphones.

Daraz Consumer Promotions

vivo partnered with Daraz.lk, Sri Lanka’s no. 1 and largest online marketplace to shower their customers with rewards and special gifts and became one of its Diamond partners. Customers were able to win exciting prizes on the purchase of an exclusive vivo smartphone and the V and Y series.

vivo’s 4th Anniversary

vivo recently celebrated its 4th Anniversary in Sri Lanka and thanked all partners, employees, suppliers, distributors and consumers for their constant support and love. In this constant quest towards technology, vivo has made some spectacular achievements this year by becoming one of the top selling smartphone brands in the country, while expanding to 2000+ robust retail store network and 2 exclusive service centers that offer premium after care service.

The brand also made solid partnerships with some key industry players including Abans, Singhagiri, Dialog Axiata PLC and SLT-Mobitel with an aim to serve the Sri Lankan consumers to its full potential.

After another successful year, vivo is all set to push the limits and achieve greater heights in 2022. We’re excited to see what vivo has in store for us next year!

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Business

Oil prices hit $100 for the first time since May

Published

12 hours ago

2026/07/24

Priyan

Oil prices hit $100 a barrel for the first time since May as the escalating conflict in the Middle East reignited fears over global energy supplies.

Brent crude – the global benchmark for oil prices – rose more than 6% on Thursday following several days of increases as the US stepped up military strikes against Iran.

Prices spiked after Houthi militia in Yemen attacked oil tankers in the Red Sea, threatening a key export route that Saudi Arabia has used to bypass the Strait of Hormuz.

Gas prices have also risen steadily over the past month, with the benchmark UK gas price currently at around 150 per therm, up from around 98p at the end of June.

Oil prices had been falling following a temporary ceasefire between the US and Iran.

They dropped back to levels last seen before the US and Israel began military action against Iran on 28 February.

However, the ceasefire has failed and this week US Secretary of State Marco Rubio said the people in charge in Iran were “not ready to make a deal”.

The ongoing conflict risks pushing up inflation for many countries, including UK and the US leading to higher prices for consumers.

Higher oil prices typically lead to petrol and diesel becoming more expensive.

While drivers are affected directly, households could also see prices of other goods, such as food, increase due to businesses passing on higher transportation costs to customers.

Inflation has fallen both in the UK – down to 2.6% in the year to June helped by slowing diesel and petrol prices – and in the US to 3.5%.

But questions remain whether the slow down will prove short lived due to the renewed conflict in the Middle East.

New data released on Thursday showed that UK petrol prices have risen by 5p a litre since the beginning of July, hitting reaching almost £1.56.

Diesel is at £1.72 a litre, on average, according to the RAC.

Average gasoline prices in the US have surpassed $4 a gallon once more, up from $3.92 a month ago, according to motorist advocacy group AAA.

“More expensive fuel and energy can ripple through the wider economy, increasing costs for businesses and ultimately feeding through into the price of food and other goods,” said Jonathan Raymond, investment manager at Quilter Cheviot.

“This creates another headache for central banks as they continue their battle against inflation.

“If energy prices remain elevated, policymakers may come under pressure to keep interest rates higher for longer or even raise them. This would come as a blow to mortgage holders and borrowers already feeling the strain.”

The Bank of England, which sets UK interest rates, has held them at 3.75% in its last four meetings.

Paul Dales, chief UK economist at Capital Economics, said he believed the Bank will “almost certainly” hold them again. But he said analysts still expected that interest rates could be cut next year if energy price rises ease.

Kevin Warsh, the newly-appointed chair of the US Federal Reserve, last week told Congress that the central bank had “no tolerance to persistently elevated inflation”.

US President Donald Trump had pushed Warsh’s predecessor, Jerome Powell, to cut interest rates.

Trump has made it clear he expects Warsh to fulfil his demand for reductions in borrowing costs for Americans.

But the Fed held US interest rates between 3.5% and 3.75% at Warsh’s first meeting last month. He also told Congress that he was committed to “restoring price stability” in the wake of the Middle East conflict impacting prices.

[BBC]

Business

SEC, CSE and CA Sri Lanka sign MOU to advance XBRL-based digital reporting for listed companies

Published

19 hours ago

2026/07/24

Thilina Walpola

The signing ceremony at SEC from Left to right: Ms. Manuri Weerasinghe| Director Corporate Affairs, SEC, Tushara Jayaratne | Acting Director General, SEC, Ms. Nilupa Perera | Chief Regulatory Officer, CSE, Rajeeva Bandaranaike | Chief Executive Officer CSE, Senior Prof. D.B.P.H. Dissabandara,| Chairman, SEC, Tishan Subasinghe | President, CA Sri Lanka, Ms. Anoji de Silva | Vice President, CA Sri Lanka, Neranjith Gamage | Commission Member, SEC, Ms. Lakmali Priyangika | Chief Executive Officer, CA Sri Lanka, Ms. Rishdha Zarook Ishaq | Director Legal and Enforcement, SEC , Ms. Kumuduni Maduwanthi |Senior Manager Legal, CA Sri Lanka.

The Securities and Exchange Commission of Sri Lanka (SEC), Colombo Stock Exchange (CSE), and the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) signed a Memorandum of Understanding (MoU) to collaborate on the implementation of eXtensible Business Reporting Language (XBRL) based reporting for companies listed on the CSE.

The agreement marks a significant milestone in Sri Lanka’s efforts to modernise corporate reporting and strengthen the digital infrastructure of the capital market. The initiative aims to streamline the submission of both financial and non-financial information by listed entities, enhancing transparency, accessibility and investor confidence.

The MoU formalises the partnership, following the establishment of a joint SEC-CSE committee tasked with driving the initiative. With the in-principle approval of the SEC, the committee has been working closely with CA Sri Lanka to develop the framework required for the successful rollout.

XBRL is the internationally recognised standard for digital business reporting, developed and maintained by XBRL International, a global non-profit consortium. The standard enables financial and business information to be reported in a structured, machine-readable format, facilitating more efficient analysis, comparison and interpretation of corporate disclosures by regulators, investors, analysts and other stakeholders.

The introduction of XBRL reporting is expected to deliver several key benefits for both listed companies and users of financial information. These include reducing reliance on manual data processing, improving the accuracy and consistency of reported information, supporting more advanced data analysis, and lowering long-term reporting costs. The flexibility of the XBRL framework also allows organisations to tailor taxonomies to meet specific reporting requirements. In addition, XBRL adoption will enhance market transparency and efficiency by enabling quicker access to comparable corporate information. It will also align Sri Lanka’s reporting framework with global standards, making the country’s capital market more accessible and attractive to international investors familiar with XBRL-based financial reporting.

Business

LOLC Insurance and Seylan Bank celebrate Bancassurance Excellence through “League of Greatness” 2025

Published

19 hours ago

2026/07/24

Thilina Walpola

The Achievers of the Night

LOLC Insurance recently hosted the “LOLC Insurance – Seylan Bancassurance Felicitation Night 2025” under the theme “League of Greatness,” celebrating the success of its longstanding bancassurance partnership with Seylan Bank. The event marked another milestone in a strategic collaboration that has continued to grow since 2013.

The felicitation ceremony brought together senior management, sales leadership, branch representatives, and top-performing teams from both organisations to recognise excellence, appreciate contributions, and reaffirm the enduring partnership between LOLC Insurance and Seylan Bank. The collaboration currently spans 104 Seylan Bank branches across Sri Lanka, delivering accessible life and general insurance solutions islandwide.

Speaking at the event, Ramesh Jayasekara, Director/Chief Executive Officer, Seylan Bank PLC, stated, “Our partnership with LOLC Insurance continues to create meaningful value for customers while further strengthening the bancassurance proposition within the banking sector. The dedication and collaborative spirit demonstrated by both teams have been instrumental in achieving these milestones and sustaining the growth of this partnership. We look forward to enhancing our collaboration and delivering greater value to customers in the years ahead.”

Sharing insights during the event, Eugene Seneviratne, Deputy General Manager – Retail Banking, Seylan Bank, added, “The professionalism and operational efficiency demonstrated by the bancassurance teams have been instrumental in consolidating this partnership. Our branch teams continue to seamlessly manage day-to-day bancassurance functions with minimal operational escalations, reflecting the strength of a well-structured and highly efficient framework. This has contributed to a smooth and mutually beneficial working relationship, enabling the partnership to enhance coordination, execution, and overall performance.”

Addressing the gathering, Kithsiri Gunawardena, Chairman/Principal Officer of LOLC General Insurance and Director of LOLC Life Assurance, stated, “Successful partnerships are built on trust, shared values, and a common vision. The strength and longevity of this collaboration reflect the commitment of both organisations to delivering meaningful impact to customers while advancing the country’s bancassurance sector. The positive feedback and appreciation consistently received from Seylan Bank regarding the quality of service delivered and the steadfast support extended by the teams stand as a testament to the professionalism and service excellence upheld throughout the partnership.”