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Hemas Academy of Healthcare introduces the ‘Suwa Shiksha’ scholarship scheme to empower young Sri Lankans

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In a concerted effort to empower and support young Sri Lankans to launch careers in the healthcare services industry, Hemas Academy of Healthcare by the Hemas Hospitals Group recently introduced an exceptional scholarship scheme for students looking to pursue a career in nursing and related disciplines. The scheme is aimed at the many Sri Lankans who are passionate about a career in healthcare but are not able to afford such an education due to numerous financial constraints.

“Financial hardships keep many young Sri Lankans back from exploring and leveraging their full potential through a solid education. These setbacks discourage most from pursuing their ambitions, leaving a large pool of talent in Sri Lanka untapped. Therefore, after much research, the Hemas Academy of Healthcare by Hemas Hospitals Group launched the Suwa Shiksha scheme to empower this talent and enable them to become a force for good in their communities while also investing in their future without worrying about financial limitations. This not only helps to bridge the growing gap in skilled healthcare professionals in the country, but also supports and fortifies the Sri Lankan economy. Further, by endowing the country with groups of trained professionals, we aim to reduce the high scores of rural unemployment among youth, and empower them and raise their standards of living by opening a world of lucrative and fulfilling local and foreign employment opportunities,” remarked Dr. Lakith Peiris, Managing Director, Hemas Hospitals and Laboratories Group.

Hemas Academy of Healthcare offers these scholarships for three courses taught at the academy, where recipients are selected based on their GCE A/L and O/L results along with the marks they obtain on an initial aptitude test. For those preferring to join the 3-year Nursing Diploma, which is equivalent to a NVQ level 6 programme, students need to have achieved three passes at their GCE Advanced Level examinations, while those looking to enroll for a 1-year diploma in Nursing Assistant or a Care Giver require the completion of GCE Ordinary Level examinations.

These scholarships enable students to complete their education at no cost, while also benefiting from a monthly financial allowance to manage their expenses.



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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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