GSK ranked No 1 on first ‘Access to Medicine’ Index
The first Access to Medicine (ATM) Index developed by the Access to Medicine Foundation, an independent international non-profit organization, has ranked GlaxoSmithKline (GSK) as the current industry leader when it comes to improving access to drugs and accines in low income countries, GSK’s local office said in a press release.

The index unveiled in the Netherlands on June 16, evaluates the top 20 companies' contribution to improving access to medicines against criteria in eight categories. It measures and rates efforts by individual drug companies to increase the number of people that have access to effective and affordable medicine, offering investors and other stakeholders a new and powerful tool with which to take pharmaceutical companies’ social responsibility record into account.

GSK Pharmaceutical’s Managing Director in Sri Lanka Stuart Chapman said the company has been continuously working on enabling more and more people the world over to have greater access to ‘our medicines and thereby realize our goal of helping them to do more, feel better and live longer.”

Sri Lankan unit signs MoU with Chinese trade council
A Memorandum of Understanding was signed between the Sri Lanka – China Business Cooperation Council (SLCBCC) and the China Council for the Promotion of International Trade Hainan Sub-Council in Haikou City, Hainan, China recently.

The agreement was signed by Nihal Mallikaaratchi, President of the SLCBCC and Chen Zhongwen, President of the CCPIT Hainan Sub-Council, the Sri Lankan council said.

The purpose of this agreement is to establish closer cooperation for mutual benefit and contribute both efforts in strengthening economic, technological, cultural and human relations between the two Institutions, especially in promoting the development of the new forms of economic cooperation, it said in a statement.

Singer in consulting arrangement with MTI
Singer (Sri Lanka) Ltd, a consumer durables company, recently signed up a consulting assignment with MTI Consulting Sri Lanka for a new line of Home Security Systems.
The project focuses on developing a strategic initiative for a new line of business for Singer, MTI said adding that through this MTI will draw on insights into the synergistic nature of this business and offer a range of strategic recommendations

Finco opens Negombo showroom
Finco Limited, the authorized distributor in Sri Lanka for BASF Construction Chemicals (formerly Master Builders Technologies) has opened a showroom in Negombo. The new outlet displays a wide range of products including Construction Chemicals relating to Waterproofing, Concrete Admixtures, Industrial Grouts and various types of Industrial Flooring.
Managing Director of Finco Ltd Rohan Delgoda said Finco intends to expand its presence in every part of the country to better serve its customers with the next sales outlets coming up in Kurunegala and Ampara.

New Vice-President, South Asia Region at World Bank
World Bank President Robert B. Zoellick has appointed Isabel Guerrero as Vice President for South Asia Region, the Bank announced in a statement this week. Ms.Guerrero took over from retiring Vice President Praful Patel on July 2.

Ms Guerrero, who moves to her new position from that of County Director for India based in New Delhi, joined the bank as a "young professional" in 1982. Early in her career she worked as a country economist for the Philippines, Myanmar, Morocco and the Central Asian Republics with a focus on macroeconomics, trade and poverty.

WB to support tourism
The World Bank has agreed to support a Sri Lanka Tourism project involving all the stakeholders, including the rural communities & small entrepreneurs. The Tourism Ministry said this came at the request of Tourism Minister Milinda Moragoda during a recent visit to Washington DC where he met senior World Bank officials.

Mr Moragoda was quoted as saying that the World Bank was very receptive to supporting Sri Lanka Tourism in ‘our efforts in enhancing the standards and the quality of operations through capacity development for our SMEs and other tourism institutions and enterprises to ensure that we can offer a delightful experience to our discerning visitors’.

Five-star comfort for all on Cathay Pacific
Passengers in all classes on Cathay Pacific Airways long haul flights can now enjoy a luxurious cabin that takes in-flight comfort to inspiring new heights similar to the ambience of a five-star hotel suite, the airline said.

Julian Lyden, Cathay Pacific Sri Lanka Country Manager said, “The new design creates a cabin environment that is soothing and very well appointed. It is aimed to create a level of quality and attention to detail that exceeds the ordinary.”

“The innovative extra long and wide bed in the First Class cabin is the largest provided in any commercial airline with the added comfort of a lumbar massage function. An extendable table enables passengers to invite friends to join them in their in-flight suite,” according to an airline statement.
Business Class passengers can enjoy a fully flat bed with a one-button command that helps to truly redefine long-haul travel. Economy class passengers can recline without intruding on those seated behind.

CSE branch network completes nine years
The Colombo Stock Exchange (CSE) regional branch which completes nine years successfully attracted over 7,000 new investors to the stock market and has contributed over 18 percent of “the total local individuals' turnover for 2008 to date,” the CSE said in a statement.

The CSE established its first regional branch office in Matara in 1999, and since then has expanded the branch network to Kandy (2003), Kurunegala (2005) and Negombo (2007).

Virtusa speaks on global careers at Rotaract meeting
Virtusa Corporation, a globally-renowned IT solutions provider and the leading IT services company doing business in Sri Lanka, came forward as the main sponsor of the annual Rotaract District Assembly of District 3220 held on July 6.

The company said that in keeping with its philosophy of enhancing and promoting leadership among young professionals Virtusa’s General Manager Madu Ratnayake addressed the audience on “global careers” and discussed insights on skills and competencies needed to succeed in emerging global workplace.

In a press release, Mr Ratnayake said, “Virtusa like Rotaract is a global entity and share the same belief that as an organization we could trail-blaze, make changes and serve the community we live in.”

Standard Chartered launches online treasury services
The Standard Chartered Bank has launched its ‘On line treasury’, a comprehensive proprietary ‘Request for Quote foreign exchange service’ which is integrated into their industry leading Straight2Bank platform. The online FX service delivers fast automated prices from Standard Chartered Bank straight to any desktop, the Bank said in a press release.

It leverages the Bank’s comprehensive coverage of the global FX markets supporting Swap, Forward and Spot pricing in over 100 currency pairs, 24 hours a day. The on-line treasury eFX service provides a direct link to the Bank’s trading floors delivering fast, competitive, and consistent pricing. “We offer market transparency and real time prices to our customers,” Clive Haswell, CEO, Standard Chartered Bank, Sri Lanka, was quoted as saying in the statement.

“He will have the ability to transact all ticket sizes including exact amount to the last decimal unit.”