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NDB Wealth calls for social and financial responsibility

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A financially stable and secure society can help its younger generation to achieve greater heights

Expert financial planner NDB Wealth Management encourages individuals and businesses to focus on how being socially responsible is equally important as being financially responsible.

Given that the nation and world at large are facing turbulent and challenging times due to the pandemic situation, as a responsible corporate citizen NDB Wealth Management is specially focusing on the safety and well-being of their valuable investors.

“It is our duty and moral obligation to conduct ourselves in a socially responsible manner especially due to the current pandemic situation. Each one of us has a role to play to support and advocate for social responsibility by which we can encourage those near and dear as well as our communities to follow proper health guidelines bearing in mind not only our best interests but those of society as a whole,” commented Prabodha Samarasekera, CEO of NDB Wealth Management.

Through united efforts, society can combat the COVID virus and prevent it from spreading exponentially through the best practices of washing hands and proper sanitization, maintaining social distancing at all times, strictly adhering to the guidelines stipulated by the health officials and restricting our movements and avoiding large group gatherings unnecessarily.

Whilst working towards being socially responsible, each one has to also work towards being financially responsible. Financial responsibility is an essential and core area requiring attention by many. Being able to financially support oneself without burdening others or reducing dependency on society including governing institutions and other authorities should be a key focus and aim among individuals and businesses alike. NDB Wealth Management through their expertise and experience can help individuals and businesses plan and prepare for financial growth despite unexpected situations.

Outlining a few techniques on financial responsibility, Prabodha stated, “Stabilizing your income through employment and business ventures, setting achievable financial goals and educating yourself on financial matters are a few topics worthy of consideration. Especially for the younger generations, the aspiration to be financially stable and secure can propel them to achieve greater heights.”

“However not everyone is financially savvy and added efforts should be taken to be updated on the financial schemes available. A good budgeting practice will also help to maintain the income and expenditure while enabling individuals to initiate savings and avoiding unnecessary, expensive debt. It’s important to understand the importance of financial planning and to have a good idea on how you can allow your earnings to bring benefits for you in the future. At NDB Wealth we offer an array of plans to help one prepare for the future. The Growth & Income Fund, Money Plus Fund, and Retirement savings plans are such options that are readily available,” elaborated Prabodha.



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Business

U.S. confident SL would ensure required facilitation for U.S. investors

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Sri Lankan government has pledged to address the pending policy issues and I am confident that once the pandemic subsides, concrete efforts will begin to improve ease of doing business and ensure the required facilitation for US investors, Martin Kelly, Charge d’ Affairs of the Embassy of the United States of America in Sri Lanka said recently speaking at the Sri Lanka Invest Forum 2021 held virtually through June 7-9, 2021

“Sri Lanka was among the first countries in the region to open its economy and offers the highest standards of living among other advanced indicators in South Asia. Over the last seventeen years, the country continued to transition from an agriculture commodity based economy to become world leader in textile and apparel, a major exporter of IT and communication related services and of course a world class destination for international tourists,” he said.

“Promoting trade and investment opportunities is one of the embassy’s top priorities, and a vital component of our efforts to encourage private sector led development and toward stronger ties between the two countries,” he said.

Kelly said that the government of Sri Lanka has promoted pro-business policies including tax benefits, to attract the U.S. and other foreign direct investments.

 

 

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ComBank donates ICU beds to Kegalle Teaching Hospital

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Commercial Bank Chairman Justice K. Sripavan and Managing Director S. Renganathan with representatives of the Bank and the Kegalle Hospital

The Commercial Bank of Ceylon has donated three Intensive Care Unit (ICU) beds to the Teaching Hospital Kegalle, which receives over 80,000 admissions and 350,000 clinic visits, annually. The donation was made following a request from the hospital and will help it to provide seamless healthcare services to prevent non-pandemic related morbidities and mortalities while also treating patients who are COVID-19 positive.

The CSR Trust of the Bank has already gifted medical equipment and gear including Personal Protection Equipment (PPE) kits, face masks, surgical masks, hand sanitisers, Slit lamps, pulse oximeters, multipara monitors and oxygen concentrators to over 16 government hospitals. Commercial Bank also made a monetary donation to the National COVID-19 Healthcare and Social Security Fund set up by the government last year.

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Trading activity gets slower among retail investors

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Lankem Ceylon Rights Issue undersubscribed.

By Hiran H.Senewiratne 

Stock trading at the Colombo Stock Exchange (CSE) was marginally positive yesterday and the number of retail investor participation was lower compared to previous trading days. Index heavy LOLC group which accounted for more than 30 percent of the turnover, contributed 20 points to the All Share Price Index, stock market analysts said.

Both indices moved upwards. All Share Price Index was up by 35.75 points and S&P SL20 up by 2.01 points. Turnover stood at Rs 1.74 billion sans a single crossing. In the retail market top six companies that mainly contributed to the turnover were LOLC Rs 510 million (1.28 million shares traded), Expolanka Holdings Rs 197 million (4.1 million shares traded), Melstacorp Rs 137 million (2.6 million shares traded), Browns Investments Rs 71.5 million (11.3 million shares traded), Windforce Rs 68.2 million (3.5 million shares traded) and Hayleys Holdings Rs 54.8 million (730,000 shares traded).

Index heavy LOLC, which contributed 20 points to the All Share Price Index, appreciated its share price by Rs 18.75 or 4.85 percent. Its share price started trading at Rs 386.25 and at the end of the day it moved up to Rs 405.

A pioneer in renewable energy, Vidullanka PLC has successfully completed raising additional capital of Rs. 253 million to fuel its expansion drive in the solar power sphere.

Lankem Ceylon Plc, Rs. 677 million worth Rights Issue has been undersubscribed. When the issue closed the Company managed to draw only subscriptions for 17.6 million shares worth Rs. 352.3 million. The original plan was to issue 33.85 million shares at Rs. 20 each aiming at raising Rs. 677 million. The basis was one new ordinary share for every one share held. Funds were to be raised to augment working capital requirements.

During the day 67.9 million share volumes changed hands in 17564 share transactions.

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