Business
British Council scholarships continue to support women in STEM
The British Council is pleased to announce the scholarships for women in STEM are back for a second year. The scholarships will support over 100 women from around the world in continuing their STEM studies at a university in the United Kingdom (UK).
The British Council Scholarships for Women in STEM support women wishing to pursue postgraduate study in science, technology, engineering or maths at a university in the UK.
This prestigious scholarship will allow over 100 women from selected countries including from South Asia, East Asia and the Americas to obtain a Master’s degree or an Early Academic Fellowship from a university in the UK, giving them the opportunity to further develop their careers in STEM subjects.
In partnership with 26 universities across the UK, this scholarship scheme includes tuition fees, a monthly stipend, travel costs, visa and health coverage fees. The scholarship is also open to women with dependents to apply, with extra support available.
During his visit to Sri Lanka, Lord (Tariq) Ahmad of Wimbledon, Minister of State for South and Central Asia, United Nations and the Commonwealth, in discussion with British Council along with four outstanding women scholars in various fields of STEM study and representing the British Council Commonwealth Futures climate research cohort, stated, ‘The UK Government is clear, that the underrepresentation of women in STEM fields not only denies talented women opportunities, it holds back societies, and the sum total of human understanding. For the second year running, the British Council has launched a Master’s Scholarship Programme in partnership with 26 UK universities. Our scholarships build on our belief, that giving opportunities to committed and talented individuals benefit us all. By supporting education, particularly of underrepresented groups, we strengthen links and understanding between us, and build a brighter future for us all.’
According to data from the UN Scientific Education and Cultural Organization (UNESCO), fewer than 30 percent of researchers worldwide are women and only 30 percent of female students select STEM-related fields in higher education. As a typical STEM worker earns two thirds more than non-STEM workers, giving women equal opportunities to pursue STEM careers helps narrow the gender pay gap and would be a major contribution to the achievement of Sustainable Development Goal 5: achieve gender equality and empower all women and girls.
Dr Iroja Caldera, senior lecturer and attorney at law, commented on the opportunities created through her journey in STEM higher education,’ Firstly, you get the opportunity to study at a globally high ranked university and thereby have access to state of the art expertise and resources. Secondly, you are able to enhance your personal and professional skills, this skill set is valuable as you start out your career. The exposure received by studying abroad, will help you to move out of your comfort zone and this greatly contributes to one’s personal growth. Finally, the opportunity to network and build lasting personal and professional connections is instrumental to inculcate fruitful collaborations and opportunities in later years.’
Business
Affairs of Sri Lankan Airlines could be turned around using local expertise – former CAA chair
The financial affairs of national carrier Sri Lankan Airlines could be turned around along with the fortunes of Mattala Airport, using local management expertise without divesting these assets, former chairman CAA and veteran travel and tourism expert Upul Dharmadasa said.
“Sri Lanka has experts and knowledgeable persons to develop Sri Lankan Airlines into a viable entity. But when it comes to the debt restructuring process the government should absorb the losses to salvage our national carrier, former chairman Civil Aviation Authority Upul Dharmadasa told The Island Financial Review.
Speaking on Mattala Airport Dharmadasa said that during the Covid 19 pandemic he spearhead the airlines’ operations to bring more than 138,000 Sri Lankans back into the country. “At that time Mattala Airport functioned as a second international airport and it assisted the government in managing Covid patients in a more systematic way, he said.
Dharmadasa added: ‘Further, Mattala Airport’s 12 anniversary falls today. It falls on the government to develop it as the second international airport. It could attract large aircraft.
“We need to deploy proper and qualified persons to streamline the entire process.
“I have been in the airline industry for more than four decades. The number of airline arrivals in the country and departures from it have come down considerably after Covid 19 pandemic.
“In this scenario, Sri Lankan Airlines should focus on launching new flights to US and Canada. Together they account for more than 1.4 million Sri Lankan diaspora members who fly to Sri Lanka.
“Sri Lankan Airlines should resume Rome flights as well, which is a lucrative market. Apart from that Sri Lankan Airlines should focus on new destinations, wherein they could sell tickets and attract huge revenue to the airline.
“The airline should have 25 aircraft to offer uninterrupted services to air travelers but at present it has only 23 aircraft.”
By Hiran H Senewiratne
LOLC Al-Falaah, Sri Lanka’s leading provider of alternate financial solutions, proudly announces the launch of ‘Al-Falaah Wakalah Future-Cash’, a pioneering Shariah-compliant alternative for Factoring, Invoice & Cheques discounting facility, designed to transform business financing. This ground-breaking financial solution empowers businesses to elevate and realize future cash flows in real-time, while maintaining adherence to ethical financial principles. Setting a new benchmark in Sri Lanka’s Islamic financial services sector, this initiative strengthens LOLC Al-Falaah’s commitment to innovation and excellence in the alternate finance arena.
Unlike conventional Factoring, which relies on interest-based returns against receivables, LOLC Al-Falaah’s ‘Wakalah Future-Cash Today’ product is structured under the ‘Wakalah-Bil-Istithmar’ concept, ensuring full compliance with Islamic economic jurisprudence. Through this model, LOLC Al-Falaah provides capital infusion into business operations in exchange for a pre-determined Anticipated Profit Return (APR), eliminating interest-based transactions. Businesses are appointed as agents to deploy these funds within their operations, with surplus earnings allocated as a performance incentive. This structure enhances financial discipline, promotes transparency, and encourages ethical business practices.
The introduction of this pioneering facility is particularly timely as Sri Lanka transitions towards economic recovery and long-term stability. Shiraz Refai, Head of Alternate Financial Services at LOLC Al-Falaah, emphasized the significance of this initiative: “As Sri Lanka embarks on a path of economic resurgence, businesses require the right financial instruments to capitalize on emerging opportunities. As a trailblazer in the alternate financial services sector, LOLC Al-Falaah has identified a critical gap in the bills-discounting and factoring industry. The launch of LOLC Al-Falaah’s ‘Wakalah Future-Cash Today’ product presents a strategic solution that enhances liquidity and working capital efficiencies while adhering to Islamic financial principles.
City Cycle Industries Manufacturing (Pvt) Ltd, a leading provider of sustainable mobility solutions and renowned for its household brand Lumala, has been honored with the Best National Industry Brand award under the Large-Scale Other Industry Sector at the recent National Industry Brand Excellence Awards 2024.
Organized by the Sri Lanka Technical Development Board under the Ministry of Industry and Entrepreneurship Development, the award ceremony was held on 21 February at Eagle Lakeside and saw the participation of distinguished leaders from diverse industry sectors. The vent was graced by Prime Minister Harini Amarasuriya as the Chief Guest.
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