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Lenovo launches ThinkPad X1 Fold

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Lenovo, the global technology leader, today announced the launch of the ThinkPad X1 Fold in Sri Lanka. The ThinkPad X1 Fold is the first of its kind in a new personal computing category that will push boundaries and redefine how we engage with technology and eliminate security threats while working and learning from home.

This latest addition in the ThinkPad family adapts to the new remote, office, and hybrid working models, enabling trailblazers to embrace ground-breaking innovation that will empower creativity, collaboration, and entertainment as it seamlessly transforms to their specific needs.

The X1 Fold offers a revolutionary mix of portability and versatility that defines a new computing category enabled by Intel® Core™ processors, with Intel® Hybrid Technology and Intel’s Project Athena innovation program. These processors are engineering innovations, that provide a hybrid CPU architecture for power and performance in a US dime-sized ultra-mobile form factor.



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Ceylinco Life raises bar with ‘Future Saver’ – a wealth accumulation product with life cover

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A new paradigm life insurance product that offers protection as well as wealth accumulation with an emphasis on the latter has been launched by Ceylinco Life, raising the bar for investment options in Sri Lanka’s financial services sector.

Positioned as the best wealth accumulation product in the market, ‘Ceylinco Life Future Saver’ is designed to enable policyholders to plan for long-term goals by passionately saving for a short period during which their financial stability is at its peak.

This unique concept of long-term protection for a short-term commitment makes Ceylinco Life Future Saver a standout product, offering protection for up to 25 years or more, for premium payments over five or 10 years, based on the policyholder’s capacity and wealth accumulation aspirations.

“Life insurance products must adapt in response to changing socio-economic dynamics,” Ceylinco Life General Manager Marketing Samitha Hemachandra commented. “Future Saver is an excellent example of a product that meets the aspirations of key demographics of the present, especially millennials, young adults aged 25 – 45 years, customers segmented as SEC A, executives and managers in the private and public sectors, professionals, businessmen and self-entrepreneurs. It also advances the Ceylinco Life credo of de-risking the ambitions of its customers with financial security that goes beyond life cover.”

Ceylinco Life Future Saver creates a Wealth Accumulation Fund built on monthly dividend rates declared by the Company for the Basic Premium paid by the policyholder, part of which funds a life insurance policy, while the balance accumulates in the Fund. The Wealth Fund component is carefully managed by professional investment managers who will ensure that it grows each month, enabling policyholders to develop an attractive saving at maturity to achieve future goals such as retirement or children’s education, while enjoying the protection offered by the life policy.

A noteworthy feature of the new product is a Premium Assurance Benefit that guarantees that Ceylinco Life will continue the payment of the basic premium for a policyholder’s Wealth Fund until the end of the premium paying term in the event of the premature death of the policyholder, and will build the Fund for his or her loved ones. In the event of total and permanent disability, the Company will continue the payment of basic premium as well as the premium for life cover until the end of the premium paying term.

This feature ensures that in the event of the death of the policyholder during the term of the policy, the beneficiaries would receive not just the life cover but the Premium Assurance Benefit and the accumulated sum in the Wealth Fund at the maturity date.

Furthermore, Loyalty Rewards will be provided as additional credits at specified internals only to the Wealth Funds of policyholders who have paid their premiums on time, increasing the balance further. This is the most attractive feature of the Future Saver plan which ensures a rewarding maturity value b.

at the end, the Company said.

Adding to the attraction of the Future Saver policy, policyholders are entitled to withdraw up to 10 per cent of the accumulated Wealth Fund twice during the policy term after the third policy year, in case of an emergency.

It also offers a provision to maintain an emergency fund for future needs such as medical expenses, or expenses during retirement, by continuing the Wealth Fund for up to 20 years after the policy matures, by choosing the Lifeline Payout benefit without obtaining the maturity value. In such instances, Ceylinco Life will allow unlimited withdrawals during the extended period, but will continue to credit the dividends to the Fund.

Providing all the benefits available with Ceylinco Life’s standard life insurance products, Future Saver also offers the option of adding supplementary benefits such as Accidental Death Benefit, Total and Permanent Disability Benefit, Critical Illness Benefit and cover for the policyholder’s spouse and children.

Additionally, Future Saver policyholders are entitled to the special rewards exclusive to Ceylinco Life policyholders, such as ‘Pranama’ scholarships for their children and participation in the ‘Family Savari’ mega promotion annually.

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‘A large number of export orders ‘ in September for textile and wearing apparel sector products– cbsl

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Manufacturing PMI bounced back to 54.3 in September 2021, increasing by 9.2 index points compared to August 2021. This increase was mainly attributable to the significant improvements observed in New Orders and Employment sub-indices.

The increase in New Orders, particularly in the manufacture of textile & wearing apparel and food & beverages sectors, have contributed considerably to the overall improvement in the PMI. Some respondents in the textile & wearing apparel sector mentioned that they received a large number of export orders in September with the normalisation of the economies in the major export destinations. Employment has also increased, especially in the manufacture of textile & wearing apparel sector, where new recruitments resumed with the tapering off of the pandemic situation.

However, Production and Stock of Purchases have remained closer to the neutral level with a marginal contraction during September 2021. Some respondents in the manufacture of food & beverages sector highlighted that they had to slow down the factory operations due to the lower availability of raw materials. Further, the continuous increase in the cost of imported raw materials, particularly due to rising global commodity prices, has also been highlighted as a major concern. Meanwhile, Suppliers’ Delivery Time lengthened in September 2021.

In the next three months, expectations for manufacturing activities remain at elevated levels anticipating further improvements in economic condition locally and globally.

Services PMI entered the growth territory reporting an index value of 52.2 in September 2021 following the dip observed in August 2021. This was underpinned by the increases in New Businesses, Backlogs of Work and Expectations for Activity sub-indices.

New Businesses increased in September compared to the previous month mainly with the improvements observed in transportation, solely related to freight forwarding, financial services, education and telecommunication sub-sectors.

Business activities in transportation, solely driven by freight forwarding, education and insurance sub-sectors showed improvements during September. However, business activities in other personal activities, wholesale and retail trade, human health activities and accommodation, food and beverage sub-sectors were largely affected due to the quarantine curfew imposed throughout the month. As such, Business Activity sub-index edged up in September, yet continued to remain below the threshold level.

Employment sub-index continued to remain in the negative territory with retirements and voluntary resignations amid comparatively low level of new recruitments. Meanwhile, Backlogs of Work continued to increase in September since a limited staff reported to work amid prolonged travel restrictions and COVID-19 infections among staff members.

Expectations for Business Activities for the next three months increased in September following the lift in travel restrictions and fall in domestic COVID-19 cases. Nevertheless, some respondents continued to express their concerns with regard to adverse effects on business operations from import restrictions and increase in input costs.

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Over 100,000 customers aboard Q+ Payment app

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The Q+ Payment App, Sri Lanka’s first QR-based payment application to be launched under LANKAQR, has surpassed the 100,000 registered customers milestone, doubling its customer base in just five months, the app’s owner the Commercial Bank of Ceylon has announced.

The fastest growing QR app in the country, Q+ Payment App has an easy self-registration process, and is well received by customers owing to the convenience and security it offers them in cashless payment processing when they pay for purchases by scanning QR codes via mobile phones or via the in-app bill payment facility, the Bank said.

Designed as a hassle-free payment alternative for cardholders and vendors, the app gained popularity via a series of Bank-driven promotions in collaboration with popular local retailers and due to its participation in a number of Central Bank of Sri Lanka (CBSL) led ‘රටපුරාම LANKAQR’ programs held across the country.

Positioned as the next dimension of payment options, the Q+ Payment App enables cardholders to pay for purchases via their mobile phones simply by scanning the merchant’s QR code. Since the launch, the app underwent several functionality-enhancing upgrades including biometric authentication login for both the consumer and merchant applications, an ‘In-App Bill Payments’ feature that allows customers connected to the Bank’s Debit, Credit or Prepaid cards to pay bills instantly, the facility to promptly settle Credit Card outstanding and top-up Pre-paid Cards, and most recently, the addition of an ‘Online Pay’ feature which enables customers to pay for online purchases by entering their mobile numbers in merchant websites and apps that have ‘Q+ Payment App’ as a payment option.

The ‘In-App Payments’ feature enables Q+ Payment App customers to make payments in many categories such as data reloads, prepaid and post-paid mobiles, fixed telephone lines, water and electricity (CEB and LECO) and pay-TV bills.

The dynamic and interactive customer experience and convenience the app offers are the driving forces behind its popularity, the Bank said. By binding their cards to the Q+ Payment App, ComBank cardholders avoid pulling out the card from their wallets which prevents card losses and card theft. This also encourages the use of environment friendly, paperless-banking features such as Digital receipts and in-App alerts. Payments done using Q+ Payment App require authentication using a static PIN which ensures the safety and security of transactions, making the Q+ Payment App more secure than a normal card.

Customers can add their ComBank Visa, Mastercard and UnionPay cards to the Q+ Payment App, enabling them to perform LankaQR, mVisa, and Mastercard QR transactions. A maximum of five cards can be added to the app. Q+ Payment App is the only payment app in Sri Lanka that supports LankaQR, mVisa, and Mastercard QR transactions. Moreover, the Q+ Payment App is certified for use at overseas QR merchants through the Visa and MasterCard networks.

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