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Union Assurance extends partnership with NTB to continue Bancassurance leadership

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Sri Lanka’s premier life insurer Union Assurance (UA) extended their long-term partnership with Nations Trust Bank (NTB) for five more years, in a strategic move to enhance portfolio value and pave the way for sustainable business growth.

 The signing took place on April 9th between Union Assurance Chief Executive Officer Jude Gomes, and Nations Trust Bank Chief Executive Officer/ Director Priyantha Talwatte.

 ” We believe that Union Assurance’s partnership with Nations Trust Bank has been an example of how two towering organizations can come together and collaborate to satisfy the multiple needs of clients,” stated Union Assurance Chief Executive Officer Jude Gomes.

“The signing of this partnership signifies the largest bancassurance strategic alliance in the financial industry and is indeed a true milestone for both Nations Trust Bank and Union Assurance. As the leader in the bancassurance offering, this is a natural next step for us at Nations Trust Bank in offering our valued customers holistic financial solutions with industry-leading customer service standards, and we look forward to working with Union Assurance in continuing to provide the same quality services,” said Priyantha Talwatte, Director/Chief Executive Officer, Nations Trust Bank.

 

 



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INSEE Ecocycle to provide waste management solutions for Galle Analytical Lab

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Signatories to the agreement were Mrs. Dharshani Lahandapura, Chairperson and Dr. P.B. Terney Pradeep Kumara, General Manager, MEPA and Sanjeewa Chulakumara, Director of INSEE Ecocycle Lanka (Private) Limited together with senior officials from both organisations

INSEE Ecocycle, the nation’s pioneer in sustainable waste management has joined hands with the Marine Environment Protection Authority (MEPA), the apex body established to prevent, control and manage pollution in Sri Lanka’s marine environment, to provide Sustainable Integrated Waste Management Solution for the MEPA’s Galle analytical laboratory recently.

Prior to the agreement, no sustainable solution for analytical laboratory waste and chemical waste existed in the country. This hazardous waste was accumulated at laboratory premises or due to misconduct, was discharged into the open environment such as drains, soil or natural water streams etc. As a result, possible environmental impacts such as soil acidification or soil alkalization, eradication of aquatic plants and animals, possible ground water contamination, acid rains and ozone depletion could have taken place.

Similarly devastating human health impact such as skin cancers, liver damage, blindness, neurological disorders, adverse pregnancy outcomes and bioaccumulation were also a possibility.

Commenting on the agreement Sanjeewa Chulakumara noted, “INSEE Ecocycle is proud to partner with MEPA for analytical laboratory waste management and we highly appreciate the commitment and the passion of the senior management of MEPA for this collaborative sustainable initiative, which is a great example to other government institutions in the country as well.”

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94% of consumers in APAC considering the use of emerging payment methods: study

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As a result of the pandemic, enthusiasm for a broader range of payment technologies has accelerated in the Asia Pacific region as 94% of people say they will consider using at least one emerging payment method, such as QR codes, digital or mobile wallets, installment plans, cryptocurrencies, biometrics and others, in the coming year. This is according to the Mastercard New Payments Index conducted across 18 markets globally, including India, Australia and Thailand, which reveals that 84% of consumers in APAC already have access to more ways to pay compared to one year ago. Of note for entrepreneurs, 74% of respondents said that they would shop at small businesses with greater frequency if they offered additional payment options.

“Mastercard’s study finds that people in the Asia Pacific region haven’t just adopted new payment technologies—they’ve made deliberate shifts based partly on necessity, but also on considerations around personal safety, security and convenience, at a time when these concerns were paramount,” said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard. “Consumers in Asia Pacific have already gained recognition globally for their openness to new technologies and innovation, and these findings confirm that this trend is only set to continue as more digital payment options rapidly become mainstream in this part of the world.”

About Mastercard (NYSE: MA), www.mastercard.comMastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

 

 

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ASPI skyrockets to reach 3 ½ weeks high

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Turnover recorded at a healthy level at Rs. 2.7bn

Bourse premiered the week shooting the index remarkably high to reach a 3 ½ weeks top. ASPI displayed a stepped upward trend and surged in the first hour of trading followed by a sideways movement during mid-day and ended with a gradual uptrend to close at 7,350 gaining 122 points.

Turnover was recorded at a healthy level at LKR 2.7Bn powered by the active retail participation. Food, Beverage & Tobacco sector dominated the turnover closely followed by the Capital Goods sector to generate a joint contribution of 50%. Foreign investors remained net sellers while recording low participation.

-First Capital Research

 

 

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