Business and Economics
The Beijing Swift – Expressway to development along the Belt and Road

There is discussion on the Millennium Challenges Cooperation (MCC) agreement once again in Sri Lanka. One feature in the MCC is developing transportation facilities to improve connectivity in Sri Lanka. Laos sometimes referred to as the land of million elephants is bordering the Peoples Republic of China. Transport facilities in Laos need development but there is no sound of MCC. Laos is connected with PRC for centuries and it is becoming much closer with the Belt and Road Initiative (BRI). Kunming-Vientiane railway constructed to link China and Laos is on schedule. According the engineers more than 90% of the bridges, 96% of the tunnels within Chinese territory is completed by end August 2020 with an investment of more than USD 01 billion. Since inception in 2016 on any given day on average more than 25,000 humans are engaged in the construction and it is expected to be completed by December 2021. The only set back was COVID 19 but work is progressing. The PRC - Laos Railway comes through the mountains in northern Laos along the border and will run more than 400 km from the border in the north to Vientiane, capital of Laos. Trains are expected to travel at a speed of 160 km per hour. The Mekong River starts in China and runs through six countries (approx 4350 km) before reaching the ocean.

CIMA launches ‘Hundred & 10%’ – first ever ‘Virtual Career Festival’

CIMA, the world’s leading and largest professional accountancy body launched ‘Hundred & 10%’, CIMA Sri Lanka’s first-ever Virtual Career Festival. The festival is a weeklong event to be held from the 13th – 19th September 2020, featuring global and local industry leaders coming together for a one- of a kind career festival. Sharing her thoughts on the initiative, Zahara Ansary, ACMA, CGMA, Country Manager for CIMA Sri Lanka said, “The environment has dramatically changed since COVID-19 hit the world and has forced many companies to speed up their digital innovation and transformation. Therefore, especially during times like this, the youth and professionals of today need to build relevant skills that will help them assure their employability. ‘Hundred & 10%’ is the first-ever Virtual Career Festival organised by CIMA, and through this weeklong festival, we want to inspire the next generation of Sri Lankan professionals to go above and beyond in their careers.

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People’s Bank ties up with GMOA for special loan scheme

A ceremony to sign the MoU with  People’s Bank Chairman Sujeewa Rajapakse, Chief Executive Officer / General Manager Ranjith Kodituwakku, Deputy General Manager (Retail  Banking and Process Management) Renuka Jayasinghe, Chief Manager (Retail  Banking) Champa Gamage, Colombo South Regional Manager N.K. Wimalasiri,  Manager (Retail Banking) Ravi Perera, Union Place Branch Manager Amali  Isiwari and other officials together with several GMOA members including  President Dr. P.S.M.A.B. Padeniya, Asst. President Dr. Chandana  Dharmaratne, Welfare Coordinator/General Committee Member Dr. Prabath  Sugathadasa, Secretary Dr. M.A.J. Fernando and General Committee Member  Dr. Nishantha Sugunapala. 

People’s Bank has entered into a Memorandum of Understating (MOU) with the Government Medical Officers’ Association (GMOA), one of the premier professional body in the country, with a view to granting personal loan facilities for its membership base comprising over 18,000 members island wide. In the light of their prominent and utmost professionalism to uplift the health sector in the country, the Bank has taken necessary steps to introduce this special loan scheme under more relaxed terms and conditions.

Through this special loan scheme, all GMOA members will be entitled to obtain personal loans up to Rs. 15 million without the need for guarantors. A fixed concessionary interest rate will be applicable along with an extending repayment period of 10 years with no early settlement charges. Moreover, having considered the busy schedules of Medical Officers, People’s Bank has been prepared to render an efficient customer service as well.

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