Business
Govt urged to fix issues and go ahead with Adani wind power project in Mannar
By Sanath Nanayakkare
A group of sustainable energy activists convened a press conference in Colombo last week and called for resolving any issues with the Adani wind power project in Mannar and find pragmatic and sustainable ways to implement it without dragging on it.
“Sri Lanka is blessed with plenty of wind — a renewable energy resource with which cheaper electricity can be provided to consumers without spending millions of dollars on fossil fuel, but it is still an enigma why the government of Sri Lanka is dragging on finalizing the Adani wind power project in Mannar,” they said.
Indunil Bandara, Convener of the Youth for Renewable Energy Organization voiced concerns over the issue of increasing electricity unit tariffs faced by Sri Lankans. Bandara highlighted that nearly 25% of the average income is allocated to electricity consumption, posing significant challenges to households and businesses alike.
He questioned the country’s reluctance to embrace this particular project that could foster national development and progress.
“The surge in electricity bills is adversely impacting businesses and entrepreneurs, hindering economic growth and innovation. So, we can’t comprehend why the government is dragging its feet on regulatory approvals for green energy projects even when the advantages are clear,” he said.
Meanwhile, Rajitha Abeygunasekera, General Secretary of Sri Lanka Blue Green Alliance said, “Oil and coal claim more than 60% of the country’s electricity generation input mix, despite the country not lacking in Renewable Energy potentials, which impacts on national energy security heavily and is a major strain on the country’s trade budget with negative economic impact. The fact that only 4% of power needs are met by Renewable Energy, viewed along with the declared goal of achieving a 50% renewable electricity supply by 2030 under Long Term Generation Expansion Plan (clause 31 in “Environment” section) calls for major initiatives in Renewable Energy generation”, he said.
National Organizer of the Alliance, Vinshada Yasasmini said, “Renewable energy projects have gained greater importance especially after Sri Lanka policymakers decided that we need to be using 100 percent renewable energy by 2050. The 2016 “Blue Green Era” programme of Sri Lanka upholds our commitment to adopt climate smart strategies and low carbon footprint based on the Paris Agreement on Climate Change and Sustainable Development Goals. These policies call for significant levels of renewable energy projects for the country. So, the government needs to declare its position on Adani wind power project in Mannar without any vacillation.”
Mannar Socio and Economic Development Organization (MSEDO) has raised its concerns with the Central Environment Authority over the impacts of wind turbines on the bird population in Mannar coastal area.
India’s Adani Group, the developer of the $386 million, 250MW renewable energy project in Mannar, in a statement said recently that the company has underscored its commitment to environmental and avian population stewardship. They said their proposal includes the utilization of high-capacity turbines designed to minimize the project’s overall impact area.
Business
ComBank tops banking sector in LMD’s first Corporate Happiness Index
The Commercial Bank of Ceylon has been ranked No 1 among Sri Lankan banks in the inaugural Corporate Happiness Index (CHI) just released by LMD magazine.The Bank has also been ranked one of Sri Lanka’s “happiest second homes” taking fifth place overall in the ranking, following the high positions it achieved in the 16 attributes that made up the survey conducted by PepperCube Consultants for this pioneering initiative.
Remarkably, Commercial Bank was the highest-ranked bank in 14 of the 16 attributes, leading the banking sector in several fundamentally-important aspects related to employees, such as ‘Remuneration scales,’ ‘Rewards & Perks,’ ‘Career progression,’ ‘Work environment,’ ‘Gender balance,’ ‘Health & wellbeing,’ ‘Work-life balance,’ ‘Workplace diversity,’ and ‘Workplace flexibility.’
Commercial Bank was also ranked No 1 in the banking sector for ‘Financial stability,’ ‘Corporate leadership,’ ‘Workplace camaraderie,’ ‘Open culture’ and ‘Recreational facilities.’
Besides its emphatic leadership in the banking sector, the LMD Corporate Happiness Index ranked Commercial Bank among the top five corporate entities in Sri Lanka across all sectors, in 10 of the 16 attribute rankings, and among the top ten overall, in 15 of the attribute rankings.
The Bank was ranked second overall for the attributes of ‘Financial stability’ and ‘Workplace camaraderie,’ third for ‘Career progression’ and fourth in Sri Lanka for ‘Workplace diversity’as well as ‘Workplace flexibility.’
“The importance of workplace happiness cannot be over-emphasised in today’s fast-paced corporate environments, and we welcome this groundbreaking effort by LMD magazine to redefine understanding of workplace wellbeing and to rank companies on their progress in this sphere,” Commercial Bank Managing Director/CEO Sanath Manatunge said. “At Commercial Bank, a lot of attention is devoted to creating a workplace culture that ensures that employees can achieve their full potential as they build their careers. Our biggest strength is our people, and there is intense focus on their wellbeing, including minimising work-related stress which can negatively affect the health of employees as well as the productivity of the organisation.”
Commercial Bank also has the distinction of being in the Top 10 of the LMD 100 ranking of Sri Lanka’s leading listed companies, which is primarily based on turnover, every year since the ranking was first published 31 years ago.
Business
Ceylinco Life closes 2024 with 13 awards for financial reporting and brand excellence
Sri Lanka’s life insurance market leader Ceylinco Life has brought 2024 to a close on a victorious note, winning a total of 13 awards, 11 for distinction in financial reporting and two for brand excellence.
The company’s annual report for 2023 received accolades from four prestigious local and international bodies – CMA Sri Lanka, CA Sri Lanka, the South Asian Federation of Accountants (SAFA) and MerComm Inc., the presenter of the prized ARC Awards.
Titled ‘The Core of Trust,’ Ceylinco Life’s integrated annual report for 2023 was recognised as one of the ‘Top 10 Excellent Integrated Reports’ in Sri Lanka at the CMA Excellence in Integrated Reporting Awards 2024, and was adjudged the first runner-up in the Insurance category. CMA Sri Lanka is the national professional management accounting body.
The Annual Report also won the Silver award in the Insurance sector, the Bronze for Corporate Governance Disclosure, and three Certificates of Recognition for Sustainability Reporting, Integrated Reporting and Digitally Transformative Reporting respectively, at the 2024 edition of the CA Sri Lanka Annual Report Awards, now branded the ‘TAGS’ Awards.
Business
Queen’s Hospital Medical Centre Opens in Ratmalana, Offering Affordable and Advanced Healthcare
The newly opened Queen’s Hospital Medical Centre in Ratmalana is revolutionizing private healthcare with state-of-the-art facilities and compassionate services. Equipped with advanced medical technologies, including ultrasound, echo, and X-ray machines, the hospital ensures accurate and timely diagnoses for patients. A team of experienced medical officers, nurses, and healthcare professionals is dedicated to providing exceptional care, said a release.
Patients can access OPD treatments for just Rs. 550, and until 31 January 2025, enjoy a 50% discount on X-rays and hospital charges for ultrasound or echo tests. On 29 January, the hospital will host a special medical camp offering free screenings for cholesterol, diabetes, and heart conditions. Pre-registration is required to secure a spot.
Queen’s Hospital also introduces a daycare service for elderly parents, allowing families to attend to their commitments while ensuring their loved ones are cared for in a safe, professional environment. Serving Ratmalana and surrounding areas like Kalutara, Dehiwala-Mount Lavinia, Moratuwa, and Maharagama, the hospital eliminates the need to travel to Colombo for quality care. Convenient e-channeling services enable patients to choose their preferred doctor and save time and money.
-
Features6 days ago
The recovery has begun
-
Business7 days ago
Sri Lanka budget deficit decreased by Rs. 487 bn in first 10 months of 2024
-
News7 days ago
Sita Ratwatte passes away
-
Business7 days ago
Digital marketing in high gear to increase tourist arrivals to Sri Lanka
-
Editorial7 days ago
Flashbacks to war
-
Features5 days ago
AKD faces challenging year ahead
-
Editorial6 days ago
Bashing bureaucrats
-
News6 days ago
FM circular violated, Rs. 4 bn paid to CPC workers