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‘Give your parents a stress-free retirement with Money Plus from NDB Wealth’

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A growing concern and fear among most people today is the timely planning retirement for their elderly parents. Every child aspires to provide a parent with a comfortable life, appreciating the countless sacrifices that parents have made throughout their lifetime. A Money Plus account from expert financial planner NDB Wealth will help them spend their retirement stress-free and happy.

Planning for the retired parents’ future, is just a very small way of paying them back for all they have done for you. Knowing that they can live a full, comfortable and healthy life in their sunset years is a relief. Getting a retirement income from a Money Plus account from NDB Wealth will set aside most common financial fears and will help them to maintain the lifestyle which they have become accustomed to.

With the help of NDB Wealth’s expert Financial Advisors, setting up a regular monthly income has never been simpler. All you need to do is, deposit or save a lump sum in Money Plus account. This will provide a convenient and uncomplicated monthly cash flow or a regular monthly income for your parents.

“At NDB Wealth we understand the needs of our clients. Our financial advisors have the expert knowledge required to provide you with the best fit options that your elderly parents as well as you can benefit from in the long term. In the event of any emergency, we offer the added flexibility of allowing you to withdraw the money at any time without any penalty,” commented Nadun Pathirana, Head of Retail Sales.

Money Plus from NDB Wealth with the current yield of 7.10% per annum as at 17th September 2020, is ideal for busy children or guardians who are unable to keep track of the regular fund availability for their elders. The income is credited daily to the elder’s Money Plus account granting them the much needed financial freedom.

NDB Wealth is a fully owned subsidiary of the NDB Bank, one of the fastest growing financial services conglomerates in Sri Lanka, with the strategic mission to be the leader in the financial services sector. From its inception, the group which includes NDB Bank, NDB Investment Banking, NDB Wealth, NDB Securities, and NDB Capital has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy. The customers across all NDB Group companies have benefitted from the extensive product and service offerings of the NDB Bank and its affiliates.



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Rootcode wins Startup of the Year and People’s Choice Award at SAARC Startup Awards 2022

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Rootcode, one of Sri Lanka’s leading tech companies, recently took home the “People’s Choice Award” in addition to being bestowed with the “Startup of the Year” title at the SAARC Startup Awards 2022. This regional recognition marks a significant milestone for the Sri Lankan tech space and workforce. Rootcode’s mission to build great tech is well underway, and it is gaining traction faster than ever.

This is the first time a Sri Lankan tech company has made a name for itself in the regional competition, and it is a watershed moment that has focused the global spotlight on Rootcode’s distinct approach to fostering innovation in Sri Lanka. This is also the first time that a Sri Lankan company was able to take home two awards of those presented at the SAARC Startup Awards.

Global Startup Awards SAARC celebrates the spirit of entrepreneurship and promotes bridging boundaries through innovation in its regions, which include Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka, by recognizing them with its most prestigious awards program, attended by top-notch entrepreneurs, corporates, investors, and ecosystem builders from Nordic, Central Europe, SAARC, and ASEAN regions.

Every year, the SAARC Startup Awards bring together hundreds of South Asian startups, entrepreneurs, investors, co-working spaces, and accelerators to provide a platform to highlight trailblazers in the region’s startup world. Rootcode was chosen ahead of dozens of other regional tech startups in the competition.

Sri Lanka is a relative newcomer to the South Asian startup fraternity, and Rootcode’s ability to represent the country on the global stage not long after its inception is remarkable.

“We are extremely humbled and honored by the support shown to us at the SAARC Startup Awards 2022, and being recognized under two categories is a huge milestone for us,” said the CEO and Founder of Rootcode Labs, Alagan Mahalingam. “We have always been driven forward by excellence, collaboration, and integrity, which I believe is the reason why we have come so far and why Rootcode continues to grow every day.”

Rootcode is driven by its focus on helping businesses build great tech not just locally but globally, and its achievement at the SAARC awards stands as a testament to that. Despite the challenging times, this is a win for Sri Lanka.

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INSEE Cement felicitates Sri Lanka’s youngest Commonwealth medallist

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INSEE Cement awarded aspiring wrestler, Nethmi Ahimsa Fernando, who won a Bronze Medal for Sri Lanka at the recently concluded Commonwealth Games in Birmingham, LKR 1 million cash reward, to support her to pursue her passion. Suranga Kumara, her coach, also received LKR 250,000 cash reward, in appreciation of his contribution towards Nethmi’s recent achievements. INSEE Cement has also pledged to support Nethmi’s aspiration to represent Sri Lanka at the 2024 Olympic games, while also providing the entire cement requirement for the completion of her new house, which is presently under construction, in collaboration with the Manusath Derana initiative.

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Textile maker Teejay knits strong start to 2022-23

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Q1 revenue more than doubles to Rs 23.9 billion

Teejay Lanka PLC has made a positive start to 2022-23 posting Group revenue of Rs 23.9 billion for the three months ending 30th June 2022. The Group achieved nearly half its full-year revenue of 2021-22 in just the first quarter of the new financial year as a result of the low base of the previous financial year due to the impacts of COVID, the depreciation of the Rupee and the passing on of yarn price increases during the last quarter.

In a filing with the Colombo Stock Exchange (CSE), Sri Lanka’s largest textile manufacturer said it had also recorded significant growth in pre-tax and net profit at both Group and Company level in the quarter reviewed.According to interim financial statements, Group profit before tax for the three months grew by more than Rs 1 billion or 291% to Rs 1.5 billion, while Group net profit for the period was up 301% to Rs 1.2 billion.

At Company level, revenue improved by 108% in the quarter under review to Rs 12.9 billion, while profit before tax grew by 323% to Rs 1.5 billion, and net profit increased by 311% to Rs 1.3 billion.

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