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HNB partners with Gammadda to develop Yaya 6 village in Anuradhapura

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HNB PLC recently signed a Memorandum of Understanding with The Capital Maharaja Group’s initiative Gammadda Sri Lanka, the country’s largest rural development movement to develop infrastructure facilities of the Yaya 6 village Mahawilachchiya, in the Anuradhapura District.

The project is powered by HNB’s exclusive private banking proposition, The Club HNB, with the goal of engaging members and in opportunities for focused, impactful philanthropy.

A special event was hosted at The Club HNB premises on Greenpath which was attended by special guests from Yaya 6, Gammadda News 1st team and exclusive invitees of The Club HNB, during which HNB Managing Director/ CEO Jonathan Alles and Capital Maharaja Group Director Chevaan Daniel inaugurated the partnership with the signing of a Memorandum of Understanding.

“Rural communities form the backbone of this nation, therefore, HNB is proud to partner with the Capital Maharaja Group to support their ambitious and vital work under the Gammadda initiative. We are also grateful to The Club HNB membership and our branch network for once again stepping forward and contributing generously towards the upliftment of rural communities across Sri Lanka,” Alles said.

Providing access to clean drinking water is the 1st step in the agenda and a RO plant will be installed under the first phase of the development project. This will not only save lives but also prevent Chronic Kidney Disease (CKDu) prevalent in the region.

A new fully furnished library and computer lab will be just two other infrastructural additions to the village school Saliyamala Vidyalaya Pemaduwa, in addition to new washrooms which are to be constructed for the students and staff members. The project also entails renovation and refurbishment of the main road, the village temple, cleaning of the agrarian tank and construction of a new community hall under the initiative.

“It has been amazing working with HNB to achieve our mutual goal of providing Yaya 6 with much-needed infrastructure facilities. This project would not have been possible if not for the HNB customers, who came forward with their generous contributions to help this village in need. Therefore, I would like to take this opportunity to thank everyone of you who made this possible,” Capital Maharaja Group Director Chevaan Daniel said.

Notably, acclaimed Sri Lankan pianist and music director Soundarie David’s composition of ‘Stand up and be the change’, that was created to help raise funds and create awareness about the project was performed at the event by Soul Sounds with music provided by Ranga Dasanayake at the event.

Editor-in-chief and founder of ARTRA magazine Azara Jaleel, who was also present at the event, auctioned off a painting from the ARTRA Canvas collection to The Club HNB members in aid of the project.

“I am happy to be here today, where two great institutions have come together for this great cause. We are fortunate as customers to be able to contribute in any way possible, and we hope to join you in visiting Yaya 6 soon,” a valued Club customer,Mrs Niloo Jayatilleke said.

Those who wish to make a contribution to the initiative can make a payment via HNB SOLO, through a direct payment on the payment app or deposit funds to the account titled ‘We are the change’, account number: 005010173025.

With 252 customer centres across the country, HNB is one of Sri Lanka’s largest, most technologically innovative banks, having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. Over the recent past, the bank was ranked among the World Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine. HNB has a national rating of AA- (lka) by Fitch Ratings (Lanka) Ltd.

HNB was also declared Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020, in addition to winning the coveted Best Retail Bank in Sri Lanka Award for the 11th time at the Asian Banker Awards 2020, in recognition of its sustainable growth and continuous improvements in processes, products and services amidst a challenging macroeconomic environment.



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Rupee devaluation, high shipping rates hurt tea prices at Colombo auctions

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by Steve A. Morrell

The Sri Lankan rupee weakening against the US dollar coupled with surging shipping rates reflected adversely on tea prices at the Colombo auctions.

This contributed to regressive price trends in Colombo, Forbes & Walker (F&W) said in its weekly Tea Market report.

The average for April 2021 was Rs. 627. 41 in comparison to Rs. 689.18 the corresponding month in 2020, indicating a minus variant Rs. 61. 77.

Brokering sources collectively said such price trends could result in negative market conditions seriously affecting profits at producer levels.

The depreciation of currencies in importer countries also contributed to depleting prices in Colombo apart from other allied trading disruptions, they said.

Commenting on the National auction average for April 2021, JKH Tea Brokers warned that the declining trend caused by the fall of the rupee against the dollar would trigger further minuses that could be foreseen at future auctions as well.

They said all elevations showed minus variances with low growns recording a higher minus variance of Rs. 93.43 per kilo.

Nevertheless, commenting on positive results for flowery grades at last week’s auctions, they said these grades fetched prices ranging from Rs. 2,300 to Rs. 3,000. per kilo. Quantities, although relatively small, impacted on the overall prices for the week.

The better known garden marks in the Uva High catalogue showed quality trends setting in with prices of Rs. 800 or more. Some Nuwara Eliya garden marks as well were in the Rs. 950 range of the price table.

Comparing production in most tea producing countries, China, India and Kenya were among the first three in production position in the world. Sri Lanka, producing 278.7 million kilos, was fourth in line.

Tip world producers include Indonesia, Bangladesh, Vietnam, Malawi, Uganda, and Tanzania, apart from Argentina supplying Tea to the US market.

Sri Lanka also exports to the US market but in irregular quantities.

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Mobiglotech Blockchain Corp seeks investment for EXIP Project

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To become a billion dollar company by 2025

The EXIP project, Mobiglotech Blockchain Corp’s flagship initiative in partnership with Dev Ceylon Holdings and Niftron, is looking for a US$ one million investment to become a billion dollar company by 2025.

The EXIP project, themed as ‘By Community for Community’, is expected to create independence on the internet and ensure it remains neutral of any political affiliations.

‘’EXIP ecosystem is custom built to the needs of any individual, private or government institution where they can have the ownership of their domain or TLD other than rent it from present service providers. In future, depending on the way the world is moving with blockchains and decentralizations, all aspects of the project will be decentralized and the community will control it without any monopoly”, says Shashi Meghawarna, the founder and CEO of Mobiglotech, the world’s first decentralized domain and TLD name service.

“We will build this project in such a way that all users have equal rights to access and anyone will be able to create domains and top-level domains whose ownership will be identified through Non fungible tokens’’, he added.

The internet transformed the way we carry out transactions, communicate, share information, promote business, entertain, study and so forth. Nevertheless, the internet was never properly designed for such a global role, he noted.

On the other hand, some organizations have the power to seize, revoke, dismiss, and permanently erase any domain from existence. Once the EXIP project is completed, the community would be able to decide all the major actions in the system based on their voting such as removing or banning a domain or a user, he further said.

EXIP is specially designed to decentralize the internet and overcome the monopolistic control over domains and TLDs. While providing the connectivity of an internet, it assures full security similar to an intranet.

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Contactless payments from Sri Lanka Insurance

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Sri Lanka Insurance the national insurer has facilitated an array of payment channels at this hour of need honouring customer needs while ensuring their safety and wellbeing.

Sri Lanka Insurance customers can enjoy uninterrupted service through an array of online service platforms without having physical contact during the current pandemic situation

SLIC policy holders can renew their insurance policies and make premium payments via Sri Lanka Insurance Customer Portal www.srilankainsurance.net and SLIC mobile App is available to download on Apple App Store and Google Playstore to fulfill various insurance needs.

Keeping in line mobile payment facilities including Genie, FriMi, mCash and eZ cash are available and further direct bank payments facilities are also available through Sampath Bank (Life – 092960000104 / General – 002960001543 ) , Commercial Bank (Life – 1484444444/ General- 1480020022), People’s Bank ( Life -014100120112337/General – 014100160112335), Bank of Ceylon ( Life -0000164657/General-0000000464), Hatton National Bank (Life -003010313831/General 003010011166 ),National Savings Bank (Life -100011141139) Nations Trust Bank ( Life -011106000275 ), Seylan Bank ( General -086433464695001) for the premium payments.

Established in 1962, Sri Lanka Insurance Corporation is the largest government-owned insurance company in Sri Lanka, with a managed asset base of over Rs.212 billion and a Life fund of Rs. 117 billion, the largest in the local insurance industry. The company is also the first and only local insurer to secure Fitch Ratings AA (lka) rating for its long-term financial stability and sustainability and also Sri Lanka Insurance ranked as the ‘Most Valuable General Insurance Brand’, and ‘Most Loved Insurance Brand’ and the 3rd Most Loved Consumer Brand in the country by Brand Finance. The national insurer is on a mission of being a customer focused company which constantly innovates in providing insurance services to customers and is now serves customers through an extensive network of 158 branches.

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