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Nestlé ranked best F&B company in Sri Lanka

Nestlé was recognised as Sri Lanka’s number one F&B company at the recent Business Today TOP 30 awards. The company jumped nine places from its previous ranking to become one of the top 10 companies on the list, which featured Sri Lanka’s best-performing corporates across all industries.

The event awarded organisations that had achieved growth in challenging times during the 2018-2019 period, demonstrating resilience and ingenuity in serving consumers and supporting the country’s economy. This is the fifth consecutive year Nestlé has been recognised by Business Today.  

 “We are honoured to be recognised as one of Sri Lanka’s top 10 corporates by Business Today, in acknowledgement of the contribution we make every day to the country and its people. We have always placed Sri Lankan consumers’ needs first in everything we do - helping to nourish their families, develop their communities, and protect their environment” said Fabrice Cavallin, Nestlé Lanka’s Managing Director.   
nestle cover picManaging Director of Nestlé Lanka Fabrice Cavallin receiving the award from Prime Minister Mahinda Rajapaksa at the Business Top 30 awards.

As one of Sri Lanka’s oldest multinationals, Nestlé celebrates 114 years in the island this year. Its range of popular products serve Sri Lankans right from birth to old age, with recipes carefully tailored to ensure it meets local tastes and nutritional needs. Approximately 90% of the products sold by the company in Sri Lanka is made locally at its factory in Kurunegala.

In 2019, Nestlé provided its consumers with close to 1 billion micro-nutrient enriched servings through its products. Through its business, Nestlé also supports the livelihoods of almost 30,000 Sri Lankan families – from farmers and suppliers, to distributors and employees – by sharing expertise, and providing training, employment and business opportunities.

The company is currently one of Sri Lanka’s largest fresh milk collectors and one of the world’s largest exporters of coconut milk powder. The company is also aggressively driving its 2025 commitment to make all of its packaging 100% recyclable or reusable. It has made good progress, with more than 80% of its current packaging already recyclable. It will no longer offer plastic items in its promotions from April this year, and are working together with its stakeholders to launch Sri Lanka’s first UHT milk carton recycling facility by mid-2020. 

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Sri Lanka plantation stocks battered after wage decree

Plantation stock prices in Sri Lanka were hammered following the government’s decision to increase the minimum wage of estate sector workers by 200 rupees to 1,000 rupees, amid a fall in Colombo stocks, provisional data showed.

Amid thin trading, Maskeliya Plantations share fell 8 percent to 9.10 rupees, while Balangoda Plantations fell 3.48 percent to 11.10 rupees and Kotagala Plantations, which had fallen as much as 5.80 percent in early trading, pared off with a 1.45 percent fall to 6.80 rupees at end of the day’s trade.

Of 21 plantation stocks being traded, 11 fell while 4 gained. The wage increase would hit the tea industry firms the hardest.

Plantation industry officials were seeking clarity over the government’s order to hike the minimum wage to 1,000 rupees. Usually plantation companies and trade unions negotiate wage revisions every two years.

Estates have been struggling to move the wage model to reflect productivity, instead of the current attendence-based model, where if a worker shows up to work for 20 days, they are paid the minimum wage.

Co-Cabinet Spokesperson and Plantations Minister Ramesh Pathirana said that plantation firms will be provided with free fertilizer, tax cuts and credit support to balance out the wage increase. (Economy Next)

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Hayleys Group records 41% profit growth in Q3

Sri Lanka’s diversified conglomerate, the Hayleys Group, demonstrated strong resilience in the 3rd quarter of 2019/20 to achieve a 41 percent growth in profit-after-tax.

The robust performance during the quarter enabled the Group to offset the subdued performance of the previous quarters, with the Group’s profit-after-tax increasing by 18 percent on a cumulative basis during the 9 months up to December 2019.

Profitability was upheld by broad-based improvements in the operating performance of the Group’s export-oriented businesses.

Turnover declined marginally to Rs.160.6 billion in 9 months, mainly reflecting reductions in the Leisure, Transportation and Consumer & Retail segments while other sectors including Purification (+23%), Textiles (+15%), Hand Protection (+4%) and Industry Inputs (+18%) recorded top-line growth.

Improvements in the core performance of key sectors, particularly across export-oriented business lines is reflected in the 9 percent increase in Consolidated Earnings before interest, tax, depreciation, and amortization (EBITDA) to Rs.16.3 billion during the period.

Meanwhile, Consolidated operating profit also recorded an increase of 9 percent to Rs.12.3 billion, driven by Purification (+81%), Textiles (+83%), Hand Protection (+45%) and Industry Inputs (4 fold increase) among others.

The Leisure, Retail, Construction Materials sectors continue to be adversely impacted by challenges stemming from the operating environment. The growth in Group operating expenses was contained at 4% reflecting ongoing investments in lean initiatives and process efficiencies.

Consolidated finance costs increased by 9 percent to Rs.8.4 billion during the period, although the quarter recorded a reduction of 1 percent reflecting the gradual decline in interest rates. The Group’s consolidated pre-tax profit increased by 11 percent to Rs.3.9 billion while profit after tax also grew to Rs.2.2 billion from 1.9 billion, a commendable achievement given the operating conditions. Meanwhile, total assets increased by 4 percent to Rs.242.2 billion by end-December 2019.

“The recently announced tax concessions are likely to result in improved consumer and investor sentiments presenting upside potential for the Group. Additionally, we are confident that the continued growth of our export businesses, coupled with the reduction in lending rates will support the Group’s earnings growth in the coming months” said Mohan Pandithage, Chairman and Chief Executive of Hayleys.
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Atlas wins 2019 Business Excellence Award

Atlas Axillia Co. (Private) Limited, Sri Lanka’s largest manufacturer and marketer of stationery and back-to-school supplies have been awarded the prestigious National Business Excellence Award 2019 in the “Manufacturing-Other Sector”. The award was presented at the National Business Excellence Awards 2019, which was held at the Grand Ballroom of the Hilton Colombo recently.

The event was graced by industry leaders from a variety of sectors along with other prominent personalities. The award was received on behalf of Atlas Axillia Co. (Private) Limited by Asitha Samaraweera, Managing Director, Viraj Jayasooriya, Director-Operations, and Lalani Weeraarachchi, Head of HR, respectively.

Speaking about the accolade, Asitha Samaraweera – Managing Director at Atlas Axillia Co. (Private) Limited said, “We are extremely proud and grateful to have received this very significant award at the National Business Excellence Awards 2019. The award is reflective of our excellence in corporate governance, capacity building, performance management, local and global market reach, corporate social responsibility, environmental responsibility and excellence in leadership, business and financial performance. The criteria, through which we have achieved excellence in these areas, were very critically evaluated in three stages by an expert panel of judges. Receiving this accolade positions our business and operational model as a benchmark for others to follow.”

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HCL Technologies to set up global delivery center in SL

HCL Technologies will set up its global delivery center in Colombo, Sri Lanka, the Noida-based IT major said on Monday (03).

The company, which has signed an agreement with the Board of Investment (BOI) of Sri Lanka, said its key business and development strategy in the island nation will be to generate local employment and provide skill programs.

HCL’s local entity, HCL Technologies Lanka (Private) Limited, will collaborate with the Sri Lanka board to implement its ‘Work Integrated Education Program’ to foster growth by cooperating with local information and communications technology and engineering institutions to develop and train the island’s talent pool.

The centre will provide global services in the field of applications & system integration, infrastructure services and digital process operations.

“...we are fully prepared and committed to bring in new opportunities for the local workforce and creating ever-lasting partnerships within the region. Our valuable partnership with the BOI will help us showcase the true essence of our culture of ‘Relationship Beyond the Contract’. By imbibing our ideapreneurship culture we will be aiming to provide best-in-class support to the global clients with the help of local talent pool," said corporate vice president of HCL Technologies, Srimathi Shivashankar, said in a statement.

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President of the world's largest media organisation stresses on the need for objective & impartial reporting

President of China Media Group, Shen Haixiong, delivering a New Year message to overseas audiences stressed that all media organisations should adhere to the principle of reporting on major events in a comprehensive, objective, and impartial way.

"Over the past year, I have talked with executives from over 150 international media organizations, including the Associated Press, Reuters, Agence France Presse, and the British Broadcasting Corporation. We have found more and more common ground, and expanded our circle of friends.

That said, I regret to see that some influential sections of the Western media have seemed to suffer from “selective blindness” when covering major events related to China. Some have even published hearsay and rumors as news, resulting in distortions and inaccuracies. Some of these stories are as fanciful as novels.

We all believe that facts are the lifeblood of journalism, and that relying on imagination to produce news does serious harm to the media’s credibility with the public. Every executive of the news industry should be vigilant in adhering to the ethics of our profession," he said.
Full statement by Mr. Shen Haixiong is found below:

2020 is an auspicious and happy number. This is because its Chinese pronunciation has the same ring as “Ai Ni Ai Ni,” meaning “love you love you.” On this New Year’s Day, I would like to extend to you my best wishes from Beijing on behalf of China Media Group.
The history of humanity is a record of one significant moment after another. 2019 had many such moments, which have become our indelible memories.
On October 1st, we celebrated the 70th anniversary of the founding of the People’s Republic of China. Together, we enjoyed audio-visual feasts that charted the extraordinary journey of the People’s Republic over the past 70 years, through works produced by China Media Group such as the multilingual documentary “Historic Journey”, and the 4K ultra-high definition film, “When China Wows the World: The 2019 Grand Military Parade”, made from our live broadcasts.

I have also received many sincere wishes sent by you, our friends around the world. I remember getting an email from Italian China expert, Francesco Maringio, in which he said, “I would like to applaud the brilliant achievements made in the 70 years since the founding of the People’s Republic of China. I think the Chinese people have every reason to be proud.”
Over the past year, we have tried hard to capture each of China’s marvelous moments as it made its way forward. We’ve strived to present a true, multi-dimensional, and panoramic view of China in this new era.
Using the latest broadcasting technology, such as 5G networks, 4K and 8K video, and artificial intelligence, we brought you coverage of major events such as the second Belt and Road Forum for International Cooperation, the Conference on Dialogue of Asian Civilizations, and the celebration of the 20th anniversary of Macao’s return to China.
Our multilingual video series, including “Classics Quoted by Xi” and “Every Treasure Tells a Story”, opened one window after another for you to gain an in-depth understanding of China’s long history and its rich culture, as well as its modern-day values and ideas. We also hosted innovative interactive events to mark the 70th anniversary of the founding of the People’s Republic and 70 years of diplomatic ties between China and Russia, and we introduced you to our new livestreaming stars. By reaching out to our audience in this way, we have gained even more overseas friends who are interested in China.
Although China Media Group was established only two years ago, we are fully aware that in the Internet age, it’s not enough to just make progress. If you don’t move quickly, you’ll soon fall behind.

Bearing in mind President Xi Jinping’s mandate to innovate and to make good use of the opportunities provided by new media, we are speeding up our efforts to become a new kind of world-class mainstream media organization, one that is driven by innovation.

In 2019, we opened China’s only national key laboratory for ultra-high definition video and audio. We launched a user-friendly 5G audio-visual new media platform called “Yangshipin”. And we began to air more than 200 new high-quality programs, as we strived to provide you with bright, exciting, and inspiring productions.
We have always adhered to the principle of reporting on major events in a comprehensive, objective, and impartial way. As the world’s largest international media organization, we conduct exchanges with our counterparts at home and abroad on the basis of equality and with an open-minded and cooperative attitude.
Over the past year, I have talked with executives from over 150 international media organizations, including the Associated Press, Reuters, Agence France Presse, and the British Broadcasting Corporation. We have found more and more common ground, and expanded our circle of friends.
That said, I regret to see that some influential sections of the Western media have seemed to suffer from “selective blindness” when covering major events related to China. Some have even published hearsay and rumors as news, resulting in distortions and inaccuracies. Some of these stories are as fanciful as novels.
We all believe that facts are the lifeblood of journalism, and that relying on imagination to produce news does serious harm to the media’s credibility with the public. Every executive of the news industry should be vigilant in adhering to the ethics of our profession.
As the 18th century British essayist William Hazlitt once said, “Prejudice is the child of ignorance.” In our complex and fast-changing world, pursuing truth and eliminating prejudice is commendable work. China Media Group will continue to take an objective and impartial stand to report the truth to the international community, and to be a voice of justice in the world.
More than 1,200 years ago, the Tang Dynasty poet, Zhang Jiuling, wrote, “Distance cannot separate true friends who feel close even though they are thousands of leagues apart.”

We’re lucky to be able to meet and to know each other on this planet. When I visited Brazil and Argentina, I was delighted to see that the jacaranda and bougainvillea they have there are the same as the ones I saw when I worked in Guangdong Province, and our catbirds have the same call. In Italy and Spain, I tried rice wine and ham that taste similar to what you can find in my hometown in Zhejiang Province. In these moments, the idea of the “global village” feels so concrete and real. There’s no reason why the residents of our global village shouldn’t communicate and mingle.

I’ve always believed that exchanges between members of the media can remove misunderstandings and prejudice, and turn strangers into friends. 2020 marks the end of the decisive phase of the work to build China into a moderately prosperous society in all respects.

It’s also the year when our country, with its population of 1.4 billion, will eliminate absolute poverty, an achievement that will be unprecedented in human history. By upholding a professional standard defined by constant improvement and the pursuit of perfection, China Media Group will continue to record the significant moments of our time, as it brings you the stories that matter from China and the rest of the world, and provides more positive energy for building a community with a shared future for humanity.

May there be love everywhere in the world in 2020!
I give my best wishes to China, to the world, and to all of you!

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Uber Eats to launch operations in Negombo

Uber Eats, one of the world’s leading food delivery networks, will soon launch its operations in its third Sri Lankan city – Negombo. With a global presence in more than 500 cities across the world, UberEats has grown and expanded to be a market leader in Sri Lanka, where it collaborates with many delivery and restaurant partners to provide fast, affordable and convenient food delivery.

By looking to partner with the best and most loved restaurants in Negombo, UberEats provides hungry customers with a tasty selection of dishes at the simple touch of a button. Combining convenience, efficiency and delivery of delicious meals, UberEats continues to redefine traditional methods of food delivery. Customers in Negombo will soon have the opportunity to fulfill their food ordering needs at their convenience, within the comfort of their own homes.

Commenting on the upcoming launch, Bhavna Dadlani – Lead, UberEats Sri Lanka stated: “It has been very encouraging to see the response from restaurant partners in Negombo in the pilot phase. A number of restaurant owners have reached out to partner with us. We continue to receive a lot of love in Colombo and Kandy and are optimistic about Negombo. We look forward to becoming an integral part of the food culture of the city.”

As an app-based food delivery pioneer in a predominantly call-based food delivery market, Uber Eats Sri Lanka has seen immense support and popularity from its range of consumers. With evident success in Colombo and Kandy, Uber Eats Sri Lanka aims to offer reliable delivery options in Negombo, while simultaneously helping restaurants expand their capacity and customer base. (Press Release)

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Alibaba’s Daraz and Dialog Axiata sign a strategic partnership to grow digital commerce in SL

Dialog Axiata Group and Daraz Sri Lanka have entered into a strategic partnership to collaborate on digital commerce.

As the first step in this partnership, Daraz Sri Lanka is to integrate the management and business operations of wOw.lk, the online retail platform owned by Dialog Axiata Group. The integration will help Daraz to further expand and improve its e-commerce presence in Sri Lanka. Effective December 1st, visitors to wOw.lk will be re-directed to Daraz.lk enabling greater access to products and services through the fast-growing online retail platform, Daraz.lk. That said, existing wOw.lk customers who had purchased products from its platform will continue to enjoy the warranty structure offered to them during their point of purchase.

Over the past 7 years wOw.lk has been instrumental in establishing Sri Lanka’s e-commerce presence  and  with this new partnership in the making, Dialog customers will benefit from Daraz as an exclusive online shopping destination.

“The integration of Dialog’s e-commerce operation gives Daraz a strong position in the market and allows us to drive growth more aggressively while giving our customers nothing but the best in online shopping. wOw.lk is one of the pioneers of e-commerce in Sri Lanka, and we plan to build on that legacy through Daraz.lk” said Rakhil Fernando, Managing Director of Daraz.

The marketplace model adopted by Daraz has proven to be successful for both shoppers and seller partners, providing greater visibility for brands and a wider range of products to shop from. Daraz’s affiliation with the global e-commerce success, Alibaba, has ensured that timely and proven technology is passed down to an online market as young as Sri Lanka. Over the 3 years of operations in the island, Daraz.lk has created a leveling ground for international brands as well as SME’s to be part of their journey in extending the online retail market. The latest development will result in an amalgamation of more brands, thus adding to the present 800,000 plus product assortment available on Daraz.

Commenting on the partnership Dr Nushad Perera, Chief Digital Services Officer of Dialog Axiata PLC stated, “Both our organizations are strongly committed to building our country’s digital infrastructure and this partnership will further enhance access to affordable digital commerce for every Sri Lankan”.

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Apparel industry leaders meet EDB chairman, reiterate need to make SL a global hub

Prabhash Subasinghe, the newly appointed Chairman of the Sri Lanka Export Development Board (EDB), met with the nation’s leading apparel exporters last Friday (17) at the board premises.

At the outset, Subasinghe expressed his gratitude to the Sri Lankan apparel exporter community for their yeoman contribution and commitment towards the country’s economic development and shared his satisfaction with on the noteworthy performance of the sector during 2019 in spite of the challenges faced.

He mentioned that the EDB always stands committed towards the growth of the Sri Lankan apparel industry which is the main contributor to the export earnings of the country.

During the discussion, exporters sought the assistance of the EDB to enhance the access for the Sri Lankan apparel products to the Indian market by lobbying for the removal of Indo-Sri Lanka Free Trade Agreement’s quota restrictions on Sri Lankan-made garments. Subasinghe stated that he has already discussed this with the Department of Commerce and EDB will follow up with them on the future cause of action.

The industry stressed the importance of creating an enabling environment to make Sri Lanka the hub for Global apparel industry by managing front office operations as the apparel industry in Sri Lanka has more or less reached its full capacity.

Furthermore, they pointed out the significance of developing a local fabric base for the apparel industry, and in that regard highlighted the importance in expediting the proposed dedicated manufacturing zone in Eravur, which intends to attract manufacturers of textiles. The delegation also praised the efforts of the EDB in supporting the country’s SME apparel exporters in respect of compliance improvement and market penetration.
The industry representatives elaborated on their plans to project Sri Lanka as a sustainable manufacturing destination for apparel by highlighting the industry’s excellent labour practices and carbon-neutrality in order to strengthen the competitiveness of the Sri Lankan apparel industry in the global marketplace. They sought the support of the EDB in this regard.

The delegation included Chairman & Secretary General of the Joint Apparel Association Forum (JAAF), MAS, Brandix, Hirdaramani, EAM Maliban Textiles, and Star Garments, Original Apparel.

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New Hyundai motor vehicle agency creates a stir

Confusion has taken center stage in the local vehicle market over reports that Hyundai Motors Company Korea is appointing a new agent for the Sri Lanka market.

The issue has come to public attention when the popular brand’s models have started to appear in shopping malls with so-called exciting prices.

Unknown to the wider Hyundai vehicle owners, Hyundai Motors regional office based in Malaysia, had reportedly forged links with a local conglomerate and had appointed them as an agent.

Accordingly, Abans Automotive have written to the Registrar of Motor Vehicles (RMV) informing of their new status as agent of Hyundai Motors. This was during the currency of the agent of nearly 20 years, Hyundai Motors Lanka Limited.

The RMV has also been in receipt of yet another letter in which it is purported to be from Hyundai Motors stating that Hyundai Motors Lanka was not the agent and therefore should not be permitted to directly register vehicles, which is a system available to registered agents.

Hyundai Lanka who has enjoyed their agency status in the country for nearly 20 years had immediately contacted the RMV as they believed that the two letters to the RMV even though it was purported to be from the same person had allegedly carried two distinctly different signatures.

The RMV have since then written to Hyundai Motors seeking clarification and were sent by email the body of the letter this time without a verifiable signature.

These events on its own have suggested a sense of unfair and perhaps sharp business practices deepening the unhappiness of an agent who has served the Hyundai customers in Sri Lanka rather well for almost 20 years.

The current agent in Sri Lanka has represented the brand for approximately 20 years and has dedicated showrooms, but importantly, Hyundai Lanka have dedicated and experienced workshop staff trained to be familiar with the full range of Hyundai vehicles. This has become especially more important as vehicles in this day and age are heavily dependent on electrical work including the Hybrid versions.

However, the latest developments have created a sense of uncertainty, especially when it comes to warranty issues and as to who would honour the manufacturer’s warranties.

In comparative terms Hyundai is a cheaper vehicle than any other premium brand - meaning that a typical user of Hyundai vehicles will have just the one vehicle rather than the typical owner of a premium brand vehicle who is likely to have more than one vehicle at their disposal. The reasoning being that with a lower end of the spectrum vehicles like the Hyundai, the owner is likely to have just the one car and therefore dependent on timely service and repairs.

It is now being stated that the authorities need to look at setting up a Monopolies Commissioner in Sri Lanka due to the rationale that the Monopolies Commission would be able to rule that agents of specialist items like vehicles for example must be forced to ensure that certified workshops are in place staffed with knowledgeable staff in order that consumers do not get caught out when commercial disagreements occur between principles.

Abans has meanwhile denied that the letters were questionable and has suggested that the issue was more about bruised egos than any other.

However, as of 7th November it has been revealed that the Korean named in the letters has made a personal visit to the RMV (Registrar of Motor Vehicles) and signed letters in front of the Registrar.

Nevertheless, the real question in the whole drama is on the existing warranty honouring, service issues etc that appear to have been left in abeyance.

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Mobitel & ‘CareerMe’ takes on the mantle of career guidance for students, teachers and parents

Reiterating its pledge in leading Sri Lanka towards an info com and knowledge rich society, Mobitel, Sri Lanka’s National Mobile Service provider, has partnered with CareerMe, a fully-fledged career guidance app and web platform developed by a local company in partnership with an Australian body, to aid students, teachers, parents and other industry professionals alike to obtain career guidance.

The free career guidance mobile app is a first of its kind in Sri Lanka and hosts free, interactive online career tools that help identify the best career and education paths with personalised career guidance at the touch of a fingertip. As technology partner for CareerMe and other such innovative startups, Mobitel has taken on the mantle of a mentor - nurturing tech entrepreneurs and innovative startups to succeed as successful businesses.

Since its launch in August 2019, CareerMe App is witnessing rapid adoption and was awarded the ‘Winner in the Learning and Education category’ at the ‘e-Swabhimani Digital Social Impact Awards 2018’, organized by the Information and Communication Technology Agency (ICTA) of Sri Lanka. Through this collaboration, Mobitel hopes to enhance employability by guiding students in the right direction, so that they can pursue their aspirations and become a vital asset to the country.  

Nalin Perera – CEO, Mobitel explains, “As the National Mobile Service Provider, Mobitel, is playing a strategic role in driving a spirit of technology-backed entrepreneurship to encourage business ideas that will enhance people’s lives and make a national contribution. Mobitel has been active in expanding nascent IoT and IIoT technologies in Sri Lanka, investing heavily in bringing the advanced technologies to benefit Sri Lankans.  Our aim is to empower people from both rural and urban areas with the ability and knowhow to access enterprise solutions that would help them increase their efficiency, productivity and re-engineer processes. We have partnered some startups which are thriving today and will continue to seek out innovative idea and concepts and put them on the path to prosperity. The growth and expansion of home-grown startups have the power to drive economic growth.”

With CareerMe, the future generation of the country can obtain career guidance coupled with advisory support to successfully achieve their ambitions thus become a vital force in fulfilling the future employment demands and help move the nation’s engine of growth forward.

In the past, Mobitel has nurtured THURU as technology partner, providing technical consultation mainly in the domains of NBIoT (Narrow Band Internet-of-Things), Blockchain and Artificial Intelligence to make the system futuristic and intelligent. THURU was one of the 10 finalists of the Season 2 of Kotiyak Vatina Adahasak, Sri Lanka’s first-ever innovation and entrepreneurship-based tech reality TV show powered by Mobitel.

About CareerMe

CareerMe® is Sri Lanka’s award-winning career guidance company, founded by a young Sri Lankan woman entrepreneur and operates in technical collaboration with Grow Careers Australia. Believing the power and potential of career guidance to develop and realize aspirations of young people for sustainable national growth and development, CareerMe provides nationwide, impartial career guidance services in all three national languages for youth to explore education and career options that match their personality, skills, strengths and interests. As a pioneer technology driven hybrid career guidance company in Sri Lanka, we serve clients such as schools, corporations, education providers, youth services, government bodies, charities, professional organizations and provide personalized career guidance for private clients.

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Daraz brings online sale for local shoppers

Daraz platform, a subsidiary of Ali Baba will be launching its biggest sales pitch in Sri Lanka on 11th November providing an opportunity for online shoppers to participate in the world's largest online sale for the second time, Managing Director of Daraz, Rakhil Fernando said at a media conference in Colombo.

Alibaba which acquired Daraz in 2018 has recorded US$ 30 billion at its last sale in Alibaba group of which Sri Lanka's contribution was around LKR 400 million.

Daraz Sri Lanka has over 700 employees where they process over 15,000 packages every single day.

There are over seven hundred thousand (700,000) different items stockpiled for the Daraz launch on November 11 with discounted prices up to 80-85 percent on certain items to bank credit card holders, he disclosed.

2018 saw Daraz.lk introduce the largest online sale in the world to Sri Lanka, and they are ready to host it again this year. 11.11 campaign, one of the most anticipated online sales in the world will take place on the 11th of November, as the name suggests, on the Daraz platform.

Over the course of its three years in Sri Lanka, Daraz has grown its network of sellers resulting in one of the biggest assortments available online.

Compared to last year, the seller community has grown from 8,000 to almost 26,000 and with around a thousand joining every month.

This community is capable of providing 1 million products live on Daraz today, promising one of the largest 11.11. campaign experiences for online shoppers in Sri Lanka this year, he added.

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