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GLX expands team of ‘Growth Alchemists’ to drive good innovation

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Within just 2 short years, GLX has effectively validated its proof of concept and re-established itself as an independent private entity

Good Life X (GLX), the cutting-edge catalyst for startups and SMEs in the food, agriculture, travel and wellness sectors, have announced new members joining their leadership team to drive a new phase of growth. GLX Founder/CEO Randhula De Silva and GLX Programme lead Shenali de Silva are welcoming on board Strategist and Investor Arj Wignaraja and Economist and International Development Consultant Anushka Wijesinha to share the leadership table in GLX’s ‘2.0’ iteration.

Within just 2 short years, GLX has effectively validated its proof of concept and re-established itself as an independent private entity – an innovation management company building the next generation of life-enhancing sustainable companies. With new members joining as GLX’s ‘Growth Alchemists for Good’, GLX stands ready to be a collaborator and co-creator to private and public sector partners looking to evolve, innovate and disrupt their organizations and industries, in anticipation and alignment with the future markets in Sri Lanka, Asia and the world.

Since launching in 2019 within the German development agency GIZ, GLX quickly grew from working with 6 startups to working deeply with 45 SMEs and startups under an umbrella of multiple concurrent programmes. Some of these are cyclical (e.g., GLX Accelerator and GLX Garage) and others were created in response to the COVID crisis (e.g., ‘Stay Good in Business for COVID Tourism Resilience’ and ‘Enterprise Evolver’). GLX Founder/CEO Randhula De Silva remarked, “As application numbers grew with each programme, it was obvious GLX had correctly identified a latent demand in the entrepreneurship and business sector. GLX also drew increased partnership offers from established individuals and organizations in Sri Lanka, Germany, Netherlands, Singapore, Thailand and the USA and others, signaling strongly that businesses, foundations and investors too were inspired by our vision of the future, with an Asia-led and impact-oriented outlook that GLX has”.



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Business

U.S. confident SL would ensure required facilitation for U.S. investors

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Sri Lankan government has pledged to address the pending policy issues and I am confident that once the pandemic subsides, concrete efforts will begin to improve ease of doing business and ensure the required facilitation for US investors, Martin Kelly, Charge d’ Affairs of the Embassy of the United States of America in Sri Lanka said recently speaking at the Sri Lanka Invest Forum 2021 held virtually through June 7-9, 2021

“Sri Lanka was among the first countries in the region to open its economy and offers the highest standards of living among other advanced indicators in South Asia. Over the last seventeen years, the country continued to transition from an agriculture commodity based economy to become world leader in textile and apparel, a major exporter of IT and communication related services and of course a world class destination for international tourists,” he said.

“Promoting trade and investment opportunities is one of the embassy’s top priorities, and a vital component of our efforts to encourage private sector led development and toward stronger ties between the two countries,” he said.

Kelly said that the government of Sri Lanka has promoted pro-business policies including tax benefits, to attract the U.S. and other foreign direct investments.

 

 

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ComBank donates ICU beds to Kegalle Teaching Hospital

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Commercial Bank Chairman Justice K. Sripavan and Managing Director S. Renganathan with representatives of the Bank and the Kegalle Hospital

The Commercial Bank of Ceylon has donated three Intensive Care Unit (ICU) beds to the Teaching Hospital Kegalle, which receives over 80,000 admissions and 350,000 clinic visits, annually. The donation was made following a request from the hospital and will help it to provide seamless healthcare services to prevent non-pandemic related morbidities and mortalities while also treating patients who are COVID-19 positive.

The CSR Trust of the Bank has already gifted medical equipment and gear including Personal Protection Equipment (PPE) kits, face masks, surgical masks, hand sanitisers, Slit lamps, pulse oximeters, multipara monitors and oxygen concentrators to over 16 government hospitals. Commercial Bank also made a monetary donation to the National COVID-19 Healthcare and Social Security Fund set up by the government last year.

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Trading activity gets slower among retail investors

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Lankem Ceylon Rights Issue undersubscribed.

By Hiran H.Senewiratne 

Stock trading at the Colombo Stock Exchange (CSE) was marginally positive yesterday and the number of retail investor participation was lower compared to previous trading days. Index heavy LOLC group which accounted for more than 30 percent of the turnover, contributed 20 points to the All Share Price Index, stock market analysts said.

Both indices moved upwards. All Share Price Index was up by 35.75 points and S&P SL20 up by 2.01 points. Turnover stood at Rs 1.74 billion sans a single crossing. In the retail market top six companies that mainly contributed to the turnover were LOLC Rs 510 million (1.28 million shares traded), Expolanka Holdings Rs 197 million (4.1 million shares traded), Melstacorp Rs 137 million (2.6 million shares traded), Browns Investments Rs 71.5 million (11.3 million shares traded), Windforce Rs 68.2 million (3.5 million shares traded) and Hayleys Holdings Rs 54.8 million (730,000 shares traded).

Index heavy LOLC, which contributed 20 points to the All Share Price Index, appreciated its share price by Rs 18.75 or 4.85 percent. Its share price started trading at Rs 386.25 and at the end of the day it moved up to Rs 405.

A pioneer in renewable energy, Vidullanka PLC has successfully completed raising additional capital of Rs. 253 million to fuel its expansion drive in the solar power sphere.

Lankem Ceylon Plc, Rs. 677 million worth Rights Issue has been undersubscribed. When the issue closed the Company managed to draw only subscriptions for 17.6 million shares worth Rs. 352.3 million. The original plan was to issue 33.85 million shares at Rs. 20 each aiming at raising Rs. 677 million. The basis was one new ordinary share for every one share held. Funds were to be raised to augment working capital requirements.

During the day 67.9 million share volumes changed hands in 17564 share transactions.

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