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SL needs to increase GDP growth: Hans Timmer

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World Bank Chief Economist for South Asia Hans Timmer says it is imperative for Sri Lanka to maximize debt service, with least resources possible.

Timmer said so at a webinar organised by the Central Bank of Sri Lanka recently under the theme, ‘Impact of the Pandemic on South Asian Economies and How Digitisation And Services Led Growth Can Help Sri Lanka to Rebound’.

“Sri Lanka at the moment is in a difficult situation due to accumulation of problems. Sri Lanka’s economy has been hard hit during the pandemic, as a result there are several problems that the government has to address; and that’s not easy. And probably the biggest problem is the high debt to GDP ratio. Hence the problem is to make sure that debt service is easily possible in the future,” he said.

“Moreover the government is taking immediate actions such as imposing import bans for price control and utilizing reserves for debt service.” When the government is facing an extraordinary situation Timmer said it is essential to adopt extraordinary policies to address those issues.”

“Nevertheless those policies are only for the short run and they won’t last.” Ultimately for a long- term sustainable growth strategy Timmer noted that Sri Lanka needs to increase GDP growth perhaps beyond the 4 % growth on the cards now.”

“This requires serious consideration of what growth potential Sri Lanka would be in the decade ahead. This is incredibly important because I think you can only overcome current problems created by debt when you unleash more growth potential,” Timmer said.



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Dr Asanka Senanayake named most popular dentist at BWIO Awards

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Founder of Shine Dental Care Dr. Asanka Senanayake receiving the award

Dr. Asanka Senanayake, founder of Shine Dental Care centres—which provide dental services across multiple locations—was recently honoured as the Most Popular Dental Doctor of the Year at the Business World International Awards 2025.

The awards, organised by the US-based Business World International Organisation (BWIO), recognised outstanding business ventures and professionals across various industries. The ceremony was held recently at the Mount Lavinia Hotel in Colombo.

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Another 43 Ceylinco Life sales officers graduate with diplomas in Financial Sales Management

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Ceylinco Life’s latest batch of graduates in Financial Sales Management with Directors of the company and representatives of SLIM.

A group of 43 sales officers of Ceylinco Life recently graduated with diplomas in Financial Sales Management, under a programme tailor-made for the life insurance market leader by the Sri Lanka Institute of Marketing (SLIM).

Covering subjects such as Financial Planning, Communication, Analytical Skills Development, Time Management, Financial Markets, and Taxation among others, the bespoke diploma programme was introduced by Ceylinco Life to enhance the skills, knowledge, and competencies of its sales personnel, and to nurture a highly proficient sales force capable of tapping into premier markets and delivering exceptional services to customers.

The nine-month course programme includes contemporary coursework, examinations and assignments to ensure a well-rounded education for the candidates.

Speaking at the graduation ceremony, Ceylinco Life Executive Director/Chief Operating Officer Samitha Hemachandra said the company had from its inception, placed special emphasis on developing and rewarding professionalism among the members of its sales force. “We led the way in equipping our sales professionals with digital tools, pushed them to obtain professional qualifications from leading international bodies relating to life insurance, to qualify for Million Dollar Round Table membership, and to improve their knowledge in finance,” he said. “As a result, they have earned the respect of the community and their peers, and built stable and lucrative careers with Ceylinco Life.”

SLIM President Prof. Jayantha N. Dewasiri said: “Promoting professional competence as a contributor to the economic growth of our country is one of the objectives of SLIM. In furtherance of this, we provide professional education to thousands of Sri Lankans every year, and are happy to support Ceylinco Life’s efforts to advance the careers of its sales officers though professional development. This is an example to other corporate entities.”

Ceylinco Life’s senior directors Messrs. Devaan Cooray and Palitha Jayawardena, Director/Deputy CEO Ranga Abeynayake, SLIM Vice President – Education & Research Dr Dilhan Sampath Jayatilleke, CEO Chamil Wickremasinghe other distinguished guests attended the graduation ceremony at the Ceylinco Life Auditorium.

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ComBank and Senok unveil special offers on construction machinery and equipment

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Commercial Bank Deputy General Manager – Personal Banking S. Ganeshan and the Deputy Managing Director of Senok Trade Combine Mr Ranjan Dahanayake exchange the MoU in the presence of representatives of the two companies.

Companies in the construction sector have been provided an opportunity to acquire new equipment through affordable leasing options created via a collaboration between the Commercial Bank of Ceylon and Senok Trade Combine (Pvt) Ltd., which represents global brands in construction machinery and equipment.

A memorandum of understanding signed by the two organisations provides for a series of special benefits to be provided to customers who purchase JCB and Kobelco branded construction equipment from Senok under a customised leasing package provided by Commercial Bank.

The benefits include special prices and lower interest rates, customised payment plans with attractive and affordable rentals, and the first three services at 50, 250 and 500 hours, free of charge.

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