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‘Aitken Spence Hotels – your home for the holidays’

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Premier hospitality chain, Aitken Spence Hotels, celebrates this festive season with a campaign welcoming guests to their home away from home, where the familiar warmth and safe security reign supreme.

With the world easing its travel restrictions, Aitken Spence Hotels opens their homes to guests and embraces the spirit of ‘Your Home for the Holidays’. Under this theme, Aitken Spence Hotels across Sri Lanka, Maldives, India and Oman have curated an array of festivities to celebrate the season in the familiarity of what one would consider ‘home’.

For each destination, there will be a domestic campaign. For Sri Lanka – ‘There is no place like home’; for Maldives – ‘Our Island, Your Home’, for India – ‘Home is where memories are made’; and for Oman – ‘Home is wherever your loved ones are’.

There is no place like home

The domestic campaign ‘There is no place like home’ is an ode to celebrate the resilient spirit of those near and dear, especially those who are returning back home this year to spend time with their loved ones.

If travelling back home is not possible, Aitken Spence Hotels Sri Lanka promises spectacular hospitality at their wide range of hotels – Heritance Kandalama, Heritance Negombo, Heritance Ahungalla, Heritance Tea Factory, Turyaa Kalutara, Amethyst Resort Passikudah, Bandarawela Hotel, Earl’s Regency and Earl’s Regent in Kandy.

With special packages and activities planned at each of the hotels and resorts across the season, the hospitality company invites you to experience a truly memorable vacation this season.

For those who wish to give the gift of inspired travel, www.aitkenspencehotels.com has also made available, fantastic vouchers for stays and excursions.

Honoring the deserving

In appreciation of the hard work and dedication of the local military and healthcare professionals, the hospitality group has also extended special discounts up to 58%. The special discount is available for bookings during the month of December, for the country’s national heroes to enjoy a relaxing holiday at our resorts.

Further honoring the deserving, Aitken Spence Hotels, through their premier brand Heritance Hotels and Resorts will conduct a special social media campaign to recognise deserving community members who have gone above and beyond to help the needy this year. The programme will launch on 15 December through facebook.com/HeritanceHotelsandResorts.

Taste of Home

Not forgetting the families who are miles away from their loved ones due to the pandemic, bespoke and pre-made hampers are also made available to share meal platters that can be ordered online and delivered to their homes. With a range of sweet and savory treats, unique hampers including local sweetmeat hampers ideal for the new year and an array of pre-planned meals for families are carefully crafted by award-winning chefs of the Group’s Heritance Hotels and Resorts.

Tying in with the overall domestic campaign of ‘There is no place like home’, the lineup of treats includes those closer to our palettes with new and innovative twists – such as billing chutney, rhubarb jam and a localized hamper with traditional favourites. Moreover, supports Aitken Spence Group’s sustainable and community development whilst incorporating ingredients that are mostly locally sourced.

As trendsetters in the industry, Aitken Spence Hotels holds a special place in the hearts of many numerous patrons that have continuously placed their trust in the brand across the years. Seasonal activities are planned at all properties to create a relaxing and stress-free holiday whilst maintaining heightened health and safety practices, in line with local and international healthcare standards.



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Business

Seven factors of concern at upcoming Monetary Policy Review

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by Sanath Nanayakkare

The Central Bank of Sri Lanka (CBSL) is scheduled to announce its latest monetary policy review on 20th January 2022, with all eyes on dwindling foreign reserves and foreign currency exchange in the country.

In this context, First Capital Research has named 7 factors of concern that could be taken into account at the upcoming monetary policy review. They are as follows.

* Foreign Reserves USD 3.1 billion – Dec 2021

* Inflation CCPI 12.1% – Dec 2021

* GDP Growth -1.5% – 3Q2021

* Private Credit LKR 60.5 billion – Nov 2021

* 03M T-Bill rate 8.38% as at 12.01.22

Liquidity and CBSL Holdings LKR -364.0 billion and LKR 1.42 trillion

Balance of Trade (BOT) and Balance of Payment (BOP) USD -6.5 billion and USD -3.3 billion for Jan-Oct 21

First Capital Research’s Policy Rate Forecast – Jan 2022-Apr 2022 notes that they believe the CBSL may highly consider tightening the monetary policy rates in this policy review but given the concerns over economic growth, there is a probability of 40% for CBSL to maintain its policy stance at current levels.

“With high frequent indicators improving in line with expectations, we have eliminated any probability of a rate cut. We expect a continued increase in probability for a rate hike in order to prevent overheating of the economy amidst the given fiscal and monetary stimulus,” they said.

As per First Capital’s view, CBSL either can choose to hike policy rates by 50bps or 100bps or hold policy rates steady, while a rate cut is off the table due to the high debt repayment and the high domestic borrowing requirement.

First Capital believes that there is a 60% probability for a rate hike due to the remedial actions required in achieving external stability.

However, there is also a 40% probability to maintain the policy rates at its current level in order to further improve the high frequency indicators.30%, they noted.

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Business

Sri Lanka’s dash brand enters international markets

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Multichemi International Ltd, which manufactures and distributes a wide range of products under dash, one of Sri Lanka’s leading detergent and household care brands, has begun exporting its products to several international markets in Asia and Oceania, with plans also to enter Africa. The dash brand includes a wide range of products in car care, household care, home fragrances and laundry care sectors. Multichemi International Ltd, which has been awarded ISO 9001:2015 certification, is a Sri Lankan pioneer in environment-friendly cleaning products, having launched the country’s first biodegradable, safe cleaning products over 28 years ago.

Amila Wijesinghe, General Manager of the Company said,”Having conquered the domestic market, we are now ready to capture the international market. We are confident that our products which are of high quality will receive a good demand overseas as well. The feedback we have received so far from our overseas customers is extremely encouraging. We are dedicated to taking our products to the international market, to bring in foreign currency to the country and help uplift the economy”,

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Business

Janaka Abeysinghe appointed SLT CEO

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Sri Lanka Telecom PLC has announced the appointment of Janaka Abeysinghe as its Chief Executive Officer (CEO) with effect from February 1, 2022.

The incumbent CEO Kiththi Perera will be overseas on leave for a period of two years to pursue higher studies, according to a stock market filing by the company.

Abeysinghe joined SLT in 1991. In his present role, he leads the enterprise and wholesale business of SLT that provides integrated voice and data solutions to enterprises, government institutions, domestic telco operators and global wholesale carriers.

In his career at SLT spanning 29 years, he has held a number of senior positions, including general manager Enterprise and International Sales and has extensive experience in the areas of Enterprise Digital Services, Enterprise Communications Solutions, Data Communications, Business Development, Domestic and International Switching Operations and Global Wholesale Voice & Data Business.

He holds a Master’s Degree in Electrical and Computer Engineering from the University of Kansas, USA and a BSc degree in Electronics and Telecommunications Engineering with a First Class Honours from the University of Moratuwa.

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