Business
Emirates empowering SMEs to turn their travel budgets into rewards

With countries easing their entry restrictions, business travel has begun accelerating, and small and medium size enterprises have become key drivers of demand with the flexibility to make travel plans quickly as new opportunities emerge.
To mark UN Micro, Small and Medium Enterprises Day and the vital role that they play in post-pandemic recovery , Emirates is empowering small and medium sized enterprises to get back into the skies and turn their travel budgets into rewards by debuting a Business Rewards incentive for new members who sign up for the programme. Small and medium sized businesses who sign up for an account to Emirates’ Business Rewards corporate loyalty programme from 27 June to 27 July 2021 will receive a bonus of 10,000 Business Reward Points, the equivalent of one Economy Class return ticket to selected destinations in Europe.
Emirates currently has over 20,000 small and medium sized businesses enrolled in its Business Rewards programme, and is providing a gamut of benefits including simplified enrolment, easier earning and redemptions, greater flexibility on retaining and using points as well as upgrade opportunities, even on last minute bookings.
Emirates has been supporting small and medium sized business hit by the pandemic. Emirates Business Rewards programme members are taking advantage of the airline’s flexible booking policies, which are among the most generous in the industry for stress-free travel planning, in addition to its multi-risk insurance cover. Since the outset of the pandemic, Business Rewards programme members were provided additional reassurance with extensions on their points validity if travel plans needed to be adjusted.
Knowing their travel plans are protected, top destinations for Business Rewards programme members have been frequenting during the pandemic include London, Manila, Paris, Cairo, Milan and Beirut. Dubai also continues to be a key destination regularly visited by Business Rewards members, mainly due to its open business environment throughout the pandemic, world-class infrastructure and thriving start-up ecosystem.
Business
National Trade Facilitation Committee Secretariat to be established

In an effort to accelerate trade facilitation commitments and bolster the business landscape in Sri Lanka, a high-level review of the National Trade Facilitation Committee (NTFC) was conducted at the Presidential Secretariat on Wednesday (7).
The review focused on assessing the progress of trade facilitation commitments and scrutinizing the performance of the NTFC Secretariat. The private sector also voiced their views on expediting actions to ensure the completion of measures ahead of the projected timeline of 2025-2030.
In order to streamline compliance and optimize performance, several directives were issued during the meeting. Firstly, it was decided to establish the NTFC Secretariat under the supervision of the Ministry of Finance. Secondly, immediate measures to be taken to address the staffing requirements of the Secretariat and lastly, the budget allocated for the NTFC Secretariat in 2023, currently under the Department of Customs, was to be transferred to the Ministry of Finance to prioritize pending actions such as the development of the NTFC website and progress reporting system.
During the meeting, deliberations took place concerning the proposed National Single Window, a system aimed at simplifying and expediting trade processes. The participants agreed to expedite the submission of the proposal in a sequential manner to ensure its swift implementation.
Business
PM discusses ADB future projects in Sri Lanka with ADB DG and new Country Director

Asian Development Bank’s (ADB) Director General for South Asia Kenichi Yokoyama and newly appointed Country Director Takafumi Kadono held discussions with Prime Minister Dinesh Gunawardena on Thursday (June 8) at the Temple Trees in Colombo.
The Prime Minister, while welcoming the new Director General thanked the outgoing DG, Chen Chen for the support extended to Sri Lanka during the height of Covid pandemic and the economic crisis. He thanked the ADB for extending short term, immediate contingency support which has helped Sri Lankan economy to recover from the unprecedented crisis within a short period of time. ADB loan funds amounting to USD 380 mn were targeted for enhancing fiscal space and efficient public financial management system as well as strengthening the SME sector with access to finance. Further USD 250 mn was obtained as budgetary support to develop Capital Market.
The Prime Minister made a special mention about ADB’s US$ 333 million emergency assistance to support import of essential items such as fertilizer, medicines and chemicals for water treatment, working capital support to SMEs, and cash transfer to most poor and vulnerable to mitigate the impact of economic crisis.
ADB Director General for South Asia Keinichi Yokohoma, praised the recovery made by Sri Lankan economy and briefed the Prime Minister about the ADB’s mid-term and long-term projects for economic progress and infrastructure development.
Business
ADB provides Sri Lanka access to concessional financing to facilitate sustained and inclusive recovery

Low interest -rate financing broadens country’s options to bridge urgent development financing needs
ADB support now comes in concessional and market-based financing, technical assistance, policy advice, and knowledge solutions
The Asian Development Bank (ADB) has approved the eligibility of Sri Lanka to access concessional financing. The availability of concessional assistance, offered at low interest rates, broadens Sri Lanka’s options to bridge its urgent development financing needs to restore economic stability and deliver essential services, particularly to the poor and vulnerable.
Eligibility for concessional resources among the developing member countries of ADB is based on gross national income per capita and creditworthiness. ADB’s decision was considered based on a request from the Government of Sri Lanka in view of the severe and unprecedented economic crisis that has reversed hard-won development gains.
“ADB is committed to further enhancing its support for the people of Sri Lanka as the country responds to this deep crisis that has severely undermined their livelihoods and well-being,” said ADB Director General for South Asia Kenichi Yokoyama. “The availability of concessional assistance will help Sri Lanka to lay the foundation for economic recovery and sustained, inclusive growth.”
Sri Lanka is now eligible for ADB support including concessional and market-based financing, technical assistance, policy advice, and knowledge solutions that together comprise a comprehensive suite of options to address the crisis. Access to concessional financing will also ease debt servicing pressures through more favorable lending terms.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
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