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LAUGFS Supermarkets celebrates 20 years of ‘revolutionizing’ supermarket culture

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LAUGFS Supermarkets (Pvt.) Ltd. began operations on the October, 31 2000, with its first outlet opening in Havelock Town and they celebrate 20th year anniversary this October 2020. Today the supermarket chain has expanded to 38 outlets with 36 of them located in the Western Province and two outlets located in Kurunegala and Chilaw.

The chain which was initially named ‘Sun-Up’, was rebranded as ‘LAUGFS Supermarkets’ in 2011. The re-branding follows a two-tier model with LAUGFS Super and LAUGFS SuperMart being the flagship brands. LAUGFS Super offers a larger scale store with an even wider range of products for customers to choose from and LAUGFS SuperMart provides customers with a compact, convenient and easily accessible selection of daily necessities.

From its inception, the organisation operated with innovation at its core; the Havelock Town outlet was the first supermarket in Sri Lanka to introduce the 24 hour retailing concept which has now extended to 7 additional outlets located in Wellawatte, Rajagiriya, Maharagama, Kandana, Negombo 2, Kolonnawa and Pelawatte.

Furthermore, LAUGFS Supermarkets was also the first supermarket brand in Sri Lanka to operate alongside their own LAUGFS brand of fuel stations, providing customers with additional shopping convenience. Years of relentless dedication in pursuit of driving innovation in retail and providing customers with an expedient shopping experience has enabled the chain to serve over 1,000,000 shoppers monthly.

Adding to its long list of milestones, the organization began operations of Medz pharmacy, its very own pharmacy chain, across 19 outlets. At present it caters to over 35,000 monthly customers with a wide range of over 2,500 products. LAUGFS Supermarkets also owns and operates Crimson Bakeries, its own brand of bakeries producing fresh baked goods. Crimson products are featured across all 38 outlets, with two standalone Crimson bakery outlets located in Bellanthara and Nedimala. In addition to fresh produce, groceries and everyday necessities, the supermarkets also facilitate the payment of utility bills such as water, electricity, e-channelling, insurance and mobile bills. LAUGFS Supermarkets has its own loyalty card programme; the “LAUGFS One” loyalty card, which allows shoppers to earn rewards for their purchases and enjoy exclusive offers.

Commenting on the occasion of its 20th anniversary, Chief Executive Officer of LAUGFS Supermarkets (Pvt.) Ltd., Mrs. Lilanthi Herath, said, “We began operations with the goal of bringing our shoppers, a fresh and friendly experience with every visit they make to a LAUGFS Supermarket. We have continued to consistently enhance this objective over the last 20 years. In light of this milestone, we celebrate our loyal customers who place their trust in us every day. They continue to be the central focus of our pursuit for constant improvement. As we look back at 20 years of growth, we would like to sincerely thank our customers and we are highly optimistic of the prospects of LAUGFS Supermarkets in the future of Sri Lankan retailing. We plan to continue expanding for years to come as we bring innovation, convenience and superior service to the increasing number of Sri Lankan households.”

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realme dares to leap into Sri Lankan youth market with cutting edge devices

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realme, the world’s fastest-growing smartphone brand, launched its products in Sri Lanka on the November 23. The virtual launch event took place with the participation of Chanux bro and realme Sri Lanka team where benchmark, trendsetting realme products were introduced to the Sri Lankan market.

The launch expands the reach of the fastest smartphone brand to reach 50 million product sales worldwide, to a brand new market with young users looking for the very best in technology and smart devices. Ranked among the Top 5 brands in over 13 markets globally in just two years of operation, realme is ranked seventh globally. Proclaiming it will ‘dare to leap’, realme identifies with young people who are willing to take a risk, and has launched four cutting edge products to the Sri Lanka market, set to exceed expectations.

realme 7 – sharper captures and cooler gaming with faster charges

realme 7 grabs the imagination of the youth with a 64MP Quad Camera with Sony IMX682 sensor for sharper captures, the World’s First MediaTek Helio G95 Gaming Processor for cool gaming and a 30W Dart Charge, taking just 26 mins to get 5000mAh battery 50% Charged. The sleek smartphone comes with a 6.5-inch 90Hz Ultra Smooth Display with a 16MP In-display Selfie Camera and Starry Mode.

The first smartphone to have passed TÜV Rheinland Smartphone Reliability, realme 7 is the first in segment smartphone with the Sony 64MP Quad Camera.

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President to inaugurate CCC Sri Lanka Economic Summit

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Sri Lanka’s foremost economic summit will be inaugurated by Chief Guest Gotabaya Rajapaksa, President of the Democratic Socialist Republic of Sri Lanka on December 1. The summit is themed “Roadmap for Take-off: Driving a People Centric Economic Revival”. The President will also deliver the inaugural address.

Mahinda Rajapaksa, Prime Minister of the Democratic Socialist Republic of Sri Lanka, will launch the second phase of the summit on December 2 and participate in the VVIP session focused on “Empowering Take-off: Efficient Government and Progressive State Enterprises.”

The Inaugural session on December 1, commencing at 8.30am will feature addresses by keynote speaker Nirmala Sitharaman, Minister of Finance and Corporate Affairs of the Republic of India and Guest of Honour Ajith Nivard Cabraal, State Minister of Money and Capital Markets and State Enterprise Reforms. Dr. Hans Wijayasuriya – chairman of the Ceylon Chamber of Commerce will deliver the welcome address.

The flagship summit will be held on a virtual format in compliance with health guidelines and will bring together key policymakers, business leaders as well as the input of top international thought leaders will come together to identify the steps in developing the pathway towards the accelerated and people centric revival of the country’s economy.

Participants may register for the entire two-day virtual summit, or pick the sessions of their choice, an opportunity offered for the first time. Registrations for the event are now open. For further information, please contact Niroshini on niroshini@chamber.lk or 0115588852; or Alikie on alikie@chamber.lk or 0115588805. (CCC)

 

 

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Central Bank’s policy rates decision to be driven by two options

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by Sanath Nanayakkare

The Central Bank will be reviewing its monetary policy stance on November 26. In this context, First Capital Research has put forward strong arguments both for and against an interest rate cut, in its Pre-Policy Analysis.

Making their argument against further relaxation in monetary policy First Capital said, “As a response to the measures taken by the government, private sector credit has improved to Rs. 87.4Bn in September while market liquidity reached Rs. 140 bn by 13th Nov indicating that there is surplus liquidity in the system. Moreover, the unemployment rate, which was at 5.7% in the 1Q2020 has declined to 5.4% in the second quarter. These indicators suggest that economic activity has remained steady without much deterioration in the 2Q. Except the GDP growth numbers, where the 2Q2020 figures are yet to be seen, other indicators are signifying a recovery, inquiring the need of further policy easing at the upcoming review”.

“In response to previous monetary easing measures implemented by CBSL, to bring down costs of borrowing of businesses and households, both market deposit and lending rates adjusted notably so far during the year. AWPR declined to historic lows in recent weeks, while banks’ lending rates also witnessed a downward adjustment in line with CBSL’s expectations. We believe that considering the recovery in the private credit and historic low levels in AWPR, there is no vital requirement for CBSL to provide a rate cut and to further bring down the market lending rates drastically”.

Their arguments for further relaxation in monetary policy was: “A thrust for development is the need of the current government. We estimate that Sri Lanka’s GDP would see its steepest contraction in history of -5.8% in 2020 following the unexpected contraction in 1Q GDP growth of -1.6% while 2Q GDP figures are yet to be seen. However, the government’s key drive is the development oriented economic growth which was spelt out through the budget 2021 as well. Accordingly, the government plans to reach 6% and above GDP growth during the next 5 years commencing from 2021. As we believe, a development-oriented budget coupled with further low interest rate environment can support the government’s medium-term goals. Therefore, the need to accelerate the GDP growth can be considered as a major factor favouring further policy easing at the upcoming review.”

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