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Samsung Electronics ranks fourth place in WBA’s 2021 digital inclusion benchmark

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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.



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Berendina bags Silver at the CA Sri Lanka 56th Annual Report Awards

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From left: Sarath Chandra Fernando - Director-BMIC, Charith Fernando - Deputy Managing Director-BMIC, Saman Manatunga - Acting Head of Finance-BMIC, Dilhara Jayasinghe - Assistant Manager Compliance & Corporate Relationship-BMIC, Ranel T Wijesinha - Past President CA Sri Lanka, Jagath Godakanda – Chairman-BMIC, Chaaminda Kumarasiri – Chairman-Annual Report Awards Committee 2021 and Chamila Cooray - Alternate Chairperson-Annual Report Awards Committee 2021

Berendina Micro Investments Company Limited, better known as BMIC among its microfinance clientele and partners, won the Silver award at the 56th Annual Report Awards organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), under the category of Finance Companies and Leasing Companies (total assets up to Rs. 20 Billion). Over 70 companies, ranging from conglomerates, multinationals to non-profit organisations, and SMEs, were honoured at this year’s competition for their excellence in financial reporting. The gala event of this year held on 09th December 2021 at BMICH. Being the first Microfinance Company licensed by the Central Bank of Sri Lanka, BMIC is no stranger to this annual competition having won a prestigious Gold Award in 2017 and Merit Award in 2018.

The award from CA Sri Lanka is the fourth award to be won by BMIC during the financial year 2021, having won 3 international awards, namely, ‘The Best Microfinance Company in Sri Lanka’ and ‘The Best Agricultural Lending Company in Sri Lanka’ awards from the UK based Global Banking and Finance Review magazine as well as ‘Donor’s Choice Award’ at the international competition conducted by SCALE Green Creative Adaptation Awards in USA in 2021. Focused on poverty alleviation, BMIC as a Microfinance Institution (MFI) extends micro-credit facilities and enterprise development services that ensure long term sustainability and growth of business ventures of its clients, providing loans at the lowest interest rate compared to other MFIs in Sri Lanka. At present, BMIC manages a loan portfolio of over Rs. 3.1 billion and an annual turnover exceeding Rs. 900 million. It supports well over 70,000 microfinance clients through its 30 Branches in 11 districts. The CA award bestowed on BMIC is another testament to its commitment in continuously supporting its clients to overcome the obstacles during difficult times, while preserving its transparency in reporting, corporate governance, sustainability and social responsibility.

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SLIC repositions Business Club insurance with more focus on SMEs

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Sri Lanka Insurance last week announced repositioning of its Business Club insurance, a trade insurance policy which provides a comprehensive business insurance solution to fit for the diverse insurance need of small and Medium enterprises (SME).

“According to the Export Development Board of Sri Lanka SMEs are considered to be the backbone of the economy with a contribution up to 52% of the GDP. SMEs play a crucial role to battle the poverty in the country providing employment opportunities for the youth as the SMEs does not require capital than large firms. Further SMEs increase tax bases much quickly when compared to large firms,” an SLIC news release explained.

“Recognizing the importance and vital contribution made to the economy by SMEs, Sri Lanka Insurance went back to the drawing board to refine the “Business Club” comprehensive insurance solution to cater to the unique requirements of the businesses,” it said.”

“Therefor the insurance solution was developed to reinforce the success and safety of the businesses.”

The insurance plan will provide protection for any businesses be it retail, grocery store, supermarket, pharmacy or any other covering many perils inclusive of environmental dangers such as floods, cyclone, fire, lightning as well as other factors such as breaking and burglary, SLIC explained.

The release further said an array of main covers are available for businesses inclusive of fire and/or lightening, explosion, malicious damage, aircraft damage, earthquakes along with the free covers such as cost of removal of debris, loss of rental, architect, surveyors, consulting engineering fees, cost of alternative accommodation etc..

A range of additional covers are also available at an additional premium for businesses to choose. Money insurance during transit and while at premises, accidental breakage of glass cover, sign board cover, electronic equipment all risk cover are among the many additional covers offered.

Interested parties who’d like SLIC to assist in developing an insurance solution that covers the business risks can contact SLIC call center on 011 2 357 357.

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German fruit and tea importers stresses importance of packaging

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Jan Paul Bethke, a leading German importer of Sri Lankan fruits and tea, at a recent

EDB-organized event, urged Sri Lankan agri-product exporters to practice effective and superior packaging if they are to be successful in terms of capturing markets in Europe.

“If you package your product well, include a QR code (incorporating extensive details such as the farmer who grew products), and convey a personalized story, customers in advanced markets such as Germany and Europe would develop an affinity with your products”, Bethke noted.

He made these remarks at a Jan. 12 forum forum organized by the Sri Lanka Export Development Board (EDB) on packaging and value addition strategies to enhance Sri Lanka’s agri-product exports to Germany, an EDB news release said.

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