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‘All the good in the world’ this season

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Premier hospitality chain, Aitken Spence Hotels, celebrates this festive season with a unique campaign aimed at paying tribute to “All the good in the world”. This year’s theme is inspired by the silver linings that have truly made a difference in the world today, amidst the disruptive events that unravelled since March 2020.

Curated around the ethos of ‘giving back’ and ‘sharing’ – two essential components that illustrates the heart of the festive season – the hospitality arm of the Group has created a range of activities that reiterates the spirit of Christmas, across its hotels and resorts in Sri Lanka, Maldives, India and Oman.

Close to home, Closer to heart

Under this overarching theme, the domestic campaign “Close to home, Closer to heart” reaches out to those travelling with a purpose. Encouraging guests to spend their holidays in a space that feels like home – close to their own residences, and closer yet to the heart at Aitken Spence Hotels, Sri Lanka. Belonging to the chain of Hotels; Heritance Kandalama, Heritance Negombo, Heritance Ahungalla, Heritance Tea Factory, Turyaa Kalutara, Amethyst Resort Passikudah, Bandarawela Hotel and, Earl’s Regency and Earl’s Regent in Kandy – promises a rewarding experience, welcoming all to partake in a holiday that goes beyond just another vacation.

Taking on ‘a season of giving’, Aitken Spence Hotels Sri Lanka has pledged 1% of their turnover between 1 Dec 2020 and 15 January 2021 to purchase school supplies for children in and around the locality of the resorts in Sri Lanka. The Group also encourages guests to partake in this endeavor by choosing Aitken Spence Hotels as their home away from home this December and further contribute to the cause by donating to Spence Evoluzione Charitable Trust, which will further facilitate the cause.

Celebrating the brave hearts

In appreciation of the hard work and dedication of the local military and healthcare professionals, the hospitality group has also extended special discounts up to 58% under its ‘brave heart’ celebratory drive. Bookable during the month of December, the national heroes can enjoy a relaxing holiday at its resorts –– from January to March 2021.

Love from Yonder

Not forgetting the families who are kept apart from their loved ones due to the pandemic, the group has also made available bespoke and pre-made hampers as well as share meal platters that can be ordered online and delivered to the doors of their near and dear. With a range of sweet and savory treats, unique hampers including local sweetmeat hampers ideal for the new year and an array of pre-planned meals for families of six to eight, the Group’s Heritance Hotels and Resorts are going all out in promoting a season of sharing, carefully crafted by their team of award-winning chefs.

Tying in with the overall domestic campaign of “Close to home, Closer to heart” the lineup of treats include those closer to our palettes with new and innovative twists – such as billing chutney, rhubarb jam and a localised hamper with traditional favourites. Made in line with the Group’s sustainable and community development, ingredients are also largely, locally sourced.

A season like no other

Speaking of this incredible spin on the season of festivities, Stasshani Jayawardena, Aitken Spence PLC Director, Head of Tourism and Leisure, and Chairperson of Aitken Spence Hotel Managements, noted that the theme came naturally given its longstanding commitment to empower and inspire. “From the inception, Aitken Spence Hotels is known to have led the way for greater things within the industry. From sustainability to F&B to community engagement, we have always been at the forefront.

The values and traditions that envelope us as a company is based on a premise of appreciation. Whilst it is easy to delve on the negative connotations based on the black swan event that has interrupted our lives as we knew it, we take this as an opportunity to appreciate and provide for those in need.”

She added; “We are grateful to all our patrons and partners who chose to stay, dine, celebrate and work with us in the past months. This is our way of paying it forward.”

Trendsetters in the industry, Aitken Spence Hotels hold a special place in the hearts of many, built on trust and loyalty over the years. With seasonal activities planned at all their properties to create a relaxing and stress-free holiday, they also maintain heightened health and safety practices, in line with local and international healthcare standards.

To be a part of a unique season and for more information, log on to www.aitkenspence.com or www.heritancehotelsandresorts.com

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Unlimited music streaming platform in Sri Lanka

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SLT-Mobitel, the nation’s ICT and Telecommunications Service Provider recently partnered with Spotify, to mark their launch in Sri Lanka. Spotify is a paid premium music streaming app which allows subscribers to listen to music to their hearts content. Both, SLT-Mobitel Post-Paid and Pre-Paid customers will now be able to enjoy Spotify by activating a monthly recurring subscription or one-time subscription plan and access unlimited music streaming and downloading facilities.

The subscription charges will get added to the user’s customary billing, where payment will be deducted in real time. Starting from the payment date, the user will be able to access Spotify and download their favourite songs, for the next 30 days. Users who sign up for their first monthly subscription will receive an additional one month, courtesy of Spotify. The one-month subscription plan is not applicable with one-time subscription plans. SLT-Mobitel data rates, depending on the user’s respective broadband charges, will apply.

Spotify also has some exciting features that will provide SLT-Mobitel customers with the opportunity to listen to ad-free music, access millions of uninterrupted music under one platform, play any song they like, anywhere they go, and also be able to enjoy their music offline.

SLT-Mobitel customers can select their preferred premium package under four categories; Individual, Duo, Family, Student. Each category has recurring and non-recurring plans. After one month of free streaming, the package will activate once the offer period terminates. While both, the Individual and Student premiums are limited to one account user, the Duo package offers two accounts and the Family premium is accessible through six accounts. To view Spotify plans, users can log on to https://spoti.fi/3aLWvce

 

 

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Sri Lanka using ‘sovereign power’ over economy: CB Governor

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by Sanath Nanayakkare

Anyone conversant with the elements of a political economy would know that Sri Lanka is using its ‘sovereign power’ to manage the different dynamics of the economy in a sustainable manner, Professor W. D Lakshman Governor of the Central Bank said on Wednesday.

“Some critics are saying that we adopt a so-called modern monetary theory. That’s not the case. In fact, Sri Lanka is using its sovereign power in a number of economic aspects to honour its external debt repayment commitments as well as to reduce its debt burden in the medium term as well as achieve resilient growth in the medium to long term, he said.

“We make policy decisions to boost our gross foreign reserves, meet our external debt servicing, to facilitate monetary expansion, to boost our GDP growth, to strengthen our current account balance and manage our domestic and external economic variables in a sustainable manner. This is not a modern monetary theory. This is an age-old tool used by central banks around the world when the circumstances demand it, he said.

“Certain trade-offs will be necessary when dealing with an economy which has a big fiscal gap to bridge. There are efforts to push Sri Lanka towards the IMF again which would in turn have influence on our policymaking. We have taken policy measures to stabilize the economy and we have adequate reserve levels to meet our debt repayments. Meanwhile, we are in negotiations with overseas central banks and multilateral agencies to further boost our reserve level and it would materialise within a matter of weeks,” he noted.

“One of the tools the Central Bank has introduced is in respect of repatriation of export proceeds into Sri Lanka and conversion of such proceeds into Sri Lankan rupees in order to strengthen the foreign exchange situation of the country,” he said.

The Governor made these remarks while delivering the keynote speech at a webinar organised by the Veemansa Initiative led by its Managing Director Luxman Siriwardene – the former Executive Director of Pathfinder Foundation.

The webinar revolved round the topic ‘External debt situation in Sri Lanka: Are we heading for a resolution or crisis?’

Professor Sirimal Abeyratne, Prof. Sumanasiri Liyanage, Dr. Nishan de Mel and Dr. Ravi Liyanage were the other speakers on the panel.

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CSE on the rebound; indices close positive

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By Hiran H.Senewiratne 

CSE produced signs of a rebound yesterday with both indices closing positive, though turnover remained low. Central Bank Governor W.D Lakshman’s recent statement on managing foreign reserves gave some boost to the market yesterday, stock market analysts said.

 The index experienced a zigzag movement within the early hours of trading; thereafter, it recorded a slight up-trend as it reached its intraday high of 7,439. Later, the market witnessed a down-trend at mid-day, followed by a sideways movement and closed at 7,372, gaining 43 points during the month of February, market sources said. 

It is said the banking sector dominated turnover with a contribution of considerable  parcel trades in Sampath Bank, Commercial Bank  and HNB.

Further, the Commercial Bank’s impressive quarterly results during the recent turbulent period also built investor  confidence. Commercial Bank was able to register a18 percent net interest income when other banks were reporting a decline. Its share price increased by Rs. 3 or 3.5 percent. On the previous day, its shares started trading at Rs. 85 and at the end of the day they moved up to Rs. 88. Due to the positive growth results, the bank announced a Rs. 4.40 dividend per share, plus a Rs. 2 script divergent for every share.

Further,  Sampath Bank shares also appreciated in both crossing and retail. In crossings its shares appreciated by Rs. 1.At the end of the day they moved up to Rs. 154.50. In the retail market, its shares moved up by Rs. 2 or 1.3 percent. Previously, its shares fetched Rs. 154 and at the end of yesterday they moved up to Rs. 156.  

Amid those developments, both indices moved upwards. The All Share Price Index went up by 104.48 points and S and P SL20 rose by 67.78 points. Turnover stood at Rs. 3 billion with four crossings. Those crossings were reported in Sampath Bank, where 3.9 million shares crossed for Rs. 602.2 million, its share price being Rs. 154.50, HNB 375,000 shares crossed for Rs. 39.4 million, its shares traded at Rs. 105, Pan Asia Power 9.5 million shares crossed for Rs. 33.2 million, its shares traded at Rs. 3.50 and Access Engineering 1.2 million shares crossed for Rs. 28.2 million; its shares traded at Rs. 24.

In the retail market top five companies that mainly contributed to the turnover were, Expolanka Rs. 450 million (10 million shares traded), JKH Rs. 205 million (1.3 million shares traded), Browns Investments Rs. 199 million (34.9 million shares traded), Sampath Bank Rs. 191 million (1.2 million shares traded) and Dipped Products Rs. 137.7 million (2.8 million shares traded). During the day 101 million share volumes changed hands in 18046 transactions. 

During the day, Expolanka, the biggest contributor to the turnover, saw its share price appreciating by Rs. 6.20 or 15 percent. Its share price quoted on the previous day was Rs. 41 and at the end of trading yesterday it moved up to Rs. 47.

Sri Lanka’s rupee quoted wider at 193.50/195.50 levels to the US dollar in the spot next market on Thursday while bond yields remained unchanged, dealers said. The rupee last closed in the spot market at 194.50/195.00 to the dollar on Wednesday.

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