Samsung Electronics ranks fourth place in WBA’s 2021 digital inclusion benchmark
Samsung Electronics recently announced that the company ranked fourth out of 150 companies in the World Benchmarking Alliance (WBA)’s Digital Inclusion Benchmark in 2021. Samsung’s consistent, multifaceted efforts to be digitally responsible have earned the achievement from global tenth place in 2020 to fourth in this year.
The WBA represents an alliance forged among more than 200 global, regional and local organizations to shape the private sector’s contributions to achieve the UN’s Sustainable Development Goals. The WBA examines companies with a focus on seven key categories, including human rights, the environment and digital inclusion. The WBA launched its very first Digital Inclusion Benchmark last year, which evaluated companies’ progress in improving access to technology, enhancing digital skills, fostering trustworthy use and innovating both openly and ethically.
Samsung was recognized for its efforts on digital responsibility as the company had established its artificial intelligence (AI) ethics principles. Having recognized the importance of emphasizing social and ethical responsibility in technology development, Samsung established a set of AI ethics principles to put into practice.
Samsung strives for accessibility in its products, enhancing them with technologies that make it easier for all users to utilize them. WBA recognized Samsung’s SeeColors app1 that makes color adjustments to aid those with color vision deficiency (CVD) and helps them enjoy a better viewing experience with optimized colors on Samsung TVs.
The company’s C-lab Outside program in Korea that is designed to foster the startup ecosystem was singled out for its social contribution activities, while Samsung’s devotion to support digital education also garnered recognition. With its vision of ‘Together for Tomorrow! Enabling People’, Samsung has been and will continue to operate social contribution activities focusing on youth education and growth for their sustainable development. Samsung operates its global Corporate Citizenship Program, the Samsung Innovation Campus (SIC) to provide support in the form of job opportunities in future technology fields.
As a company that develops products and technologies that enhance users’ lives, Samsung is committed to promoting digital responsibility. Going forward, the company will continue to explore ways to make it easier for people to access and utilize a wide range of convenient and meaningful digital technologies.
Always at your Service, wherever, whenever. Enjoy peace of mind when you choose to buy a Samsung Galaxy smartphone. The interactive diagnostics and optimization on the Samsung Members app make it easy to tune up the performance of your devices, while our helpline lets you troubleshoot problems when you need the extra support.
In Sri Lanka, Samsung has been recognized as the ‘Most Loved Electronics Brand’ for three consecutive years by Brand Finance Lanka’s review of the country’s most valuable brands. As Sri Lanka’s No.1 smartphone brand, Samsung’s customer base in the country spans across all age groups, particularly the Gen Z and Millennial segments.
CSE expected to maintain growth momentum in the wake of brighter IMF bailout hopes
By Hiran H.Senewiratne
The CSE will be able to maintain its growth momentum with IMF bailout prospects brightening this week. Consequently, foreign inflows to the CSE will improve in the future, Head-Market Development, CSE, Niroshan Wijesundara said.
“To date the CSE has been able to register a 14 per cent growth and with the IMF bailout approval we could expect more foreign inflows into the market, Wijesundera told the Island Financial Review.
Amidst these developments the market ended on a positive note at the end of yesterday. Initially there were mild profit- takings but this did not negatively impact the overall performance of the market.
Accordingly, shares edged up in mid-day trade yesterday while investors adopted a wait- and -see approach as the country looked forward to IMF approval on the Extended Fund Facility towards the end of this week.
“Investors are on a wait- and- see approach as the IMF is likely to approve the US$ 2.9 billion dollar loan, market analysts said.
“Selling pressures have eased and now buying sentiments are improving, analysts said.
The ASPI went up by 29.54 points, while the most liquid S&P SL20 index rose by 15.7 points. Turnover stood at Rs 1.8 billion with three crossings. Those crossings were reported in Hemas Holdings, which crossed three million shares to the tune of Rs 199 million, its shares were quoted at Rs 65, Hayleys 738,000 shares crossed for Rs 59.8 million, its shares traded at Rs 31 and JKH 290,000 shares crossed for Rs 42 million, and its shares fetched Rs 141.
In the retail market top seven companies that mainly contributed to the turnover were; Browns Investments Rs 209 million (30.8 million shares traded), JKH Rs 84.6 million (584,000 shares traded), Access Engineering Rs 79.5 million (4.9 million shares traded), LOLC Finance Rs 75.4 million (10.9 million shares traded), Union Bank Rs 62.9 million (6.7 million shares traded), Expolanka Holdings Rs 60 million (420,000 shares traded) and SLT Rs 57.5 million (687,000 shares traded). During the day 98.7 million share volumes changed hands in 20000 transactions.
Top gainers during mid- hours were Commercial Bank, Browns Investment and Access Engineering. Access Engineering is an unusual top contributor and this is because interest had been generated in it after assurances had been given on the IMF deal and there is an assumption that multilateral projects are likely to begin with the IMF restructuring process coming to a close, market analysts said.
Sri Lanka’s growth will be contained at a negative 3 per cent in 2023 after a 12.4 per cent shrinkage in the fourth quarter of 2022 and is expected to turn positive from next year, State Minister of Finance Ranjith Siyambalapitiya said. Siyambalapitiya told reporters on March 18 that Sri Lanka can expect a “positive economy” in 2024.
Yesterday the rupee opened stronger and was quoted at around Rs 330/338 to the US dollar, stronger from Friday’s close of Rs 337/345 to the US dollar, dealers said.
“Surfing Through the Crisis”
EY Sri Lanka, is scheduled to host a discussion ‘Debt Restructuring Implications to the Financial Services Sector’, on March 22, from 08:45 am to 12:30 pm at The Kingsbury Colombo. The session branching under the theme, ‘Surfing through the Crisis’, is designed specifically for CEOs, CFOs, and CRO of the financial sector, as well as the chairpersons of the Audit Committee and the Board Integrated Risk Management Committee. The event hopes to create value for Sri Lanka’s financial sector amidst the prevailing economic challenges. As the largest service providers to the financial sector in terms of audits, tax, consultancy, and strategy & transaction, EY Sri Lanka feels compelled to assist the financial sector as they navigate the challenges of the economic crisis.
Despite the expected positive outcomes of debt restructuring, the process itself can be painful for the country, financial institutions, debtors and creditors. To the financial services sector specifically it could bring several challenges to capital management, financial reporting, Credit Risk and Liquidity Risk management strategies.
This session will explore these implications, under two technical segments, from Risk Management and Accounting lenses, and the mechanisms required for an effective transition. From a Risk Management perspective there will be several simulations on how it affects the financial institution’s capital and profitability whilst the accounting perspective will include discussions relating to how the debt restructuring process shall be accounted for in line with SLFRS 9 Financial Instruments.
The event will be conducted by Manil Jayesinghe, Country Managing Partner of EY Sri Lanka and Maldives, and Rajith Perera, Partner Financial Accounting Advisory Services EY Sri Lanka. To register for the session, or for further inquiries please contact Nurani Rajapaksha (Nurani.Rajapaksha@lk.ey.com)
Participants of Raid Amazones 2023 arrive from Paris on SriLankan Airlines
The participants of the adventure trail ‘Raid Amazones 2023’ arrived at Bandaranaike International Airport on SriLankan Airlines’ flight UL 564 from Paris. SriLankan Airlines is the Presenting Partner of Raid Amazones and extended a warm welcome with a traditional flare to the arriving group.
The group boarded the Udarata Menike train from the Gampaha Railway Station shortly thereafter for a scenic journey to Kandy, where the trail will unfold from 22 – 28 March.
Raid Amazones is the world’s only itinerant women’s adventure race. Nearly 250 female athletes will be participating in the 21st edition of the trail in Kandy.
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