“In today’s global economy, self-confidence is a must. And uniqueness a strategic advantage for any leader. With that in mind, I invite our forward-thinking leaders to wear LOVI’s refresh of the iconic Sri Lankan National”, said Asanka de Mel, CEO of LOVI Ceylon. “In fact, our national dress is a testament to Sri Lanka’s diversity and inclusion. With the sarong’s Indonesian origins and the kurta’s Indian origins, our national dress bears centuries of influences that have shaped Sri Lanka, harmonizing to give rise to a unique fashion identity.”
In 2016, de Mel returned to Colombo leaving behind a successful technology career in Silicon Valley, and fired with the mission of transforming the sarong into an innovatively designed style statement for the modern Sri Lankan. He has now taken yet another step further in his mission to reposition our national dress.
For each of the corporate leaders of the 289 Colombo Stock Exchange listed companies, the top 1,000 privately held companies, and the aspiring entrepreneurs LOVI urges you to include the national as board room and event wear.
LOVI’s take on the Sri Lankan national dress is based on de Mel’s desire to establish a visual identity for all Sri Lankans regardless of ethnicity, religion, gender, age or social standing. “If the whole of Sri Lanka is a team, what would our uniform look like?” asks de Mel. The new collection aptly titled ‘Reimagine’ does just that.
De Mel said that the new LOVI national for corporate wear focuses on creating an easy uniform which is both businesslike yet confidently anchored in our roots. A unique style statement, that can hold its own in any corporate board room and is naturally suited to our climate.
This collection also showcases a feminine version of the national dress for women, something hitherto unheard of. ” The traditional national does not take into account half of our people” said de Mel. “The Saree and Osariya involuntarily filled this void; however LOVI Nationals interpretation of the traditional National makes any woman feel feminine, powerful and chic. Even the Lama Saree (female child’s saree) gets a refresh, to create a timeless, elegant boardroom fashion statement.
All LOVI Ceylon garments are designed and made locally using Sri Lankan resources and craftsmanship to the fullest extent possible. The quality of finish that LOVI CEYLON demands is the same as that of any luxury design house. A similar quality garment would cost twice or thrice as much if made internationally. LOVI sources its fabrics and craftsmanship all from within our borders, keeping local communities, craftsmen and businesses thriving and earning through these difficult and uncertain times.
The new National by LOVI Ceylon aims to become standard office wear imbued of course with a style all of its own, simultaneously instilling in the wearer a sense of Confidence, National pride and a unique identity. LOVI Nationals could be custom made or purchased from any of their shops at the One Galle Face Mall, Kandy City Centre or at Lakpahana, or else online at lovisarongs.com
As de Mel is always at hand to ensure a personalized customer experience, his dream of the LOVI National soon becoming a boardroom fixture is bound to become a reality. “I hope that very soon every Corporate boardroom will have a fair representation of its forward-thinking directors clad in a LOVI National”.
Seylan Bank takes the lead to promote LANKA QR beyond Western Province
Seylan Bank, the Bank with a Heart, organized the ‘Seylan Pay QR Carnival’ in Kurunegala to promote the LANKAQR programme introduced by the Central Bank of Sri Lanka (CBSL) to strengthen digital transactions in Sri Lanka. The special programme, focusing on encouraging local merchants and SMEs to join the national QR transaction system, took place at the Vehera Sports Ground in Kurunegala recently. Officials from the Central bank of Sri Lanka, the Lanka QR Committee and partner banks were present at the event.
Organised as the 14th leg of the LankaQR national rollout campaign, the Seylan Pay QR Carnival set a firm footprint with the highest number of merchants at the event. Seylan Bank alone on boarded over 100 merchants for the SeylanPay payment solutions from the Kurunegala area. Over a thousand customers walked in during the event which benefitted many merchants accepting LankaQR, to process transactions on the day and generate great traction in the district since then.
As the key feature of the event, Seylan Bank educated their customers on the use of the Bank’s QR payment system, the SeylanPay Mobile App, and assisted customers in making payments to merchants. Over 50 stalls selling clothes and accessories, gift items, food, sweets, electronics and electrical equipment, plants, beauty care, cosmetic items and automobile parts were set up for the benefit of consumers, with attractive added discounts for customers using QR payment systems to purchase items, thereby encouraging and familiarizing the use of it among them. This marked a record high number of merchants participating among many LankaQR nationwide rollout campaigns that were organised to date. A Seylan Bank Mobile ATM was deployed at the premises, ensuring that customers had easy access to carry out cash withdrawals if required and check their account balances at any given time. In addition, a special fun zone was set up for children at the event premises, whilst a musical evening entertained the adults present at the Seylan Pay QR Carnival.
“Seylan Bank’s commitment to develop the banking and finance network together with the industry led to us hosting the 14th leg of the Lanka QR national rollout campaign. We also realize the potential this system brings to the SME sector in the country, in terms of transaction efficiency and savings. As a bank that has continued to support SMEs in the country in a wide spectrum, the alliance with Lanka QR helps in developing the entire transaction ecosystem of the country,” commented Chaminda Senewiratne, Head of Digital Banking Channels, Seylan Bank.
The Central Bank of Sri Lanka introduced the LANKAQR service in October 2020 with the aim of moving towards a cash-less society while increasing financial inclusion in Sri Lanka, and was supported in this endeavour by Banks, licensed financial institutions and Lanka Clear (Pvt.) Ltd. It has already stood out as an attractive option with notable benefits for small and medium enterprises.
Stylish Garments unveils its latest export-oriented BOI factory in Ambalangoda
With the Board of Investment (BOI) widening its projects, Stylish Garments (Pvt) Ltd, unveiled its sixth BOI approved factory in Ambalangoda which manufactures children’s wear, jerseys including school uniforms exclusively targeting the international market. The Stylish Garments is a renowned a garment manufacturer and exporter of jersey knit and lighter woven apparel products.
The latest project, which is a USD 3.5 million investment, is to generate 500 employment opportunities for people living in the south and other parts of the country. Moreover, the products are slated to be exported to the UK and Europe. The agreement in this regard was signed recently at the BOI Head Office in the presence of BOI Director General Renuka M Weerakone.
The Director General said “A project of this nature should be recognized owing to the fact that it depicts the vibrant and vivid expansion of BOI projects, which has now started to reach the rural areas, The new venture will uplift the livelihood of the people living in the Ambalangoda area plus become a crucial source of bringing dollars to the country in a situation where the country isin dire need of dollars,” she underscored.
Founder and incumbent Chairman of the Stylish Garments (Pvt) Ltd Leelaratne Hattanarachchi said,” we were determined to launch the project irrespective of current challenges because such new projects would bring dollars to the country. That’s the very reason why I ventured to start operations at this new factory by turning the advantage of this crisis to ourselves. At the same time, we do appreciate the support rendered by the BOI at this critical juncture and look forward their support in future too.”
Browns Investments solar power plant deal dominates CSE trading
By Hiran H. Senewiratne
CSE’s leading listed company, Browns Investments, disposed of 50.1 per cent of its stake in Sagasolar Power Power (Private) Limited to another leading company, Aitken Spence Pvt. Ltd. yesterday, market sources said.
The total value of the company was Rs 1.4 billion and under this deal Browns Investments sold the stake for Rs 700 million. The capacity of the solar power plant is 10 megawatts, stock market analysts said.
Sagasolar Power built the solar PV facility on 45 acres (18.2 ha) of land within a dedicated energy development area in Baruthankanda, Hambantota district, Southern province. The country’s previous largest solar plant is a 1.3-MW facility also located in Hambantota.
Amid those developments, the trading activities in the stock market turned negative due to macro and micro economic uncertainties. Accordingly, stocks slipped over 1 per cent at mid-day trade yesterday for the third consecutive day, market analysis said.
The All- Share Price Index fell by 121 points and S and P SL20 went down by 50.8 points. Turnover stood at Rs 982 million without any crossings. Top seven companies that that contributed to the turnover were, Lanka IOC Rs 274 million (3.5 million shares traded), Expolanka Holdings Rs 185 million (1.2 million shares traded), JKH Rs 77 million (626,000 shares traded), LOLC Finance Rs 59.8 million (9.9 million shares traded), Browns Investments Rs 58.9 million (8.9 million shares traded), LOLC Holdings Rs 32.6 million (89,000 shares traded) and Commercial Bank Rs 15.4 million (309,000 shares traded). During the day 51.5 million share volumes changed hands in 14000 share transactions.
Yesterday the Central Bank announced US dollar buying rate was Rs 356.04 and the selling price Rs 367.33.
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