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CIPM inaugurates CIPD UK approved Center in Sri Lanka

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From left to right - CEO of CIPM - U.A.C Obeyesekere, President of CIPM – Jayantha Amarasinghe, Chairman, Professional and Academic Affairs Committee of CIPM – Dr. Neil Bogahalande, Director, Professional and Academic Affairs of CIPM – G Weerathunge at the ceremony

CIPM Sri Lanka – the Nation’s leader in human resource management, in another historic milestone in its journey to develop internationally competitive people leaders to take Sri Lanka to the next level, inaugurated Sri Lanka’s only approved Center for the Chartered Institute of Personnel Development (CIPD), UK recently with the signing and exchanging of the partnership agreements online. The signing ceremony was held in virtual mode at CIPM Sri Lanka Members’ Lounge in the presence of Jayantha Amarasinghe-President, CIPM Sri Lanka, Ken Vijayakumar-Vice President, CIPM, Dr. Neil Bogahalanda-Council Member and Chairman of the CIPM Professional and Academic Affairs Committee, U. A. C. Obeyesekere-Chief Executive Officer, CIPM, G. Weerathunge-Director, Professional and Academic Affairs, CIPM, and Heads of Departments of CIPM Sri Lanka and Victoria Winkler-Director Professional Development, and Charlotte Cope-Lead Center and Student Partnership Officer, of CIPD UK who joined online from London.

“This is a momentous occasion for the people management profession in Sri Lanka. Consequent to the accreditation of CIPM’s Chartered Qualification for Human Resource Management (CQHRM) by CIPD UK, the world recognized chartered HR body with over 160,000 members worldwide, we are pleased to announce that CIPM is now accredited and recognized as Sri Lanka’s only Approved Center for CIPD, UK. This collaboration between CIPM Sri Lanka and CIPD UK is global and offers a premier qualification to Sri Lanka’s people professionals. With this significant milestone, many avenues will be opened to capture the global HR market. I am happy and excited to see the results of this collaboration,” said Jayantha Amarasinghe-President CIPM Sri Lanka.

CIPM Sri Lanka and CIPD UK continuously work towards a common goal of developing the global people management profession by delivering eminent professional education while nurturing and producing prominent professionals through people development to create a community of universally trusted and valued fraternity of people professionals is exemplified by this strategic partnership

“We are delighted to establish this strategic partnership with CIPM Sri Lanka to add further value to the people professionals in Sri Lanka and the region. With the accreditation of CIPM Sri Lanka as an Approved Center of CIPD UK, the people managers in Sri Lanka and the region will be offered an additional avenue and opportunity to upgrade their skills to a higher level in line with global best practices,” said Victoria Winkler-Director Professional Development-CIPD UK.

At the end of the proceedings, the participants proceeded to the CIPM Business School Premises on the 2nd Floor of the HR House and ceremonially unveiled the CIPD Approved Centre.



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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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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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