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IFS Announces new venture in Colombo Port City, promises 1,000 jobs

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Software giant IFS yesterday announced that it is set to launch a new venture in Colombo Port City, a move expected to create an additional 1,000 new employment opportunities.

IFS CEO Mark Moffat made the announcement delivering the keynote address at the DigiEcon Global Investment Summit 2024, underscoring the company’s long-term commitment to Sri Lanka’s economic development.

Moffat outlined the strategic importance of this new initiative. “This project will generate additional thousands of employment opportunities in the years to come,” he added.

IFS CEO underscored the significant contributions of Sri Lanka to the global success of the enterprise application software company. Despite its Swedish origins, IFS has cultivated a robust and impactful presence in Sri Lanka over the past 25 years.

“IFS’s investment in Sri Lanka has been a cornerstone of its global success, contributing to over 20% compound growth annually for the past six years. The company has created over 10,000 employment opportunities in Sri Lanka over the past quarter-century,” he elaborated.

Moffat attributed much of this success to the “exceptional software engineering talent” and the resiliency and agility of the Sri Lankan workforce.

At present, IFS employs nearly 2,700 people in Sri Lanka, accounting for almost 40% of its global workforce. “Sri Lanka has been integral to our operations. Almost 80% of our worldwide product support and over 60% of our research and development capabilities are based here in Colombo,” he pointed out.

Since its inception in Sri Lanka in 1997 with just 26 employees, Moffat said IFS has expanded significantly. “The company has created over 10,000 employment opportunities in the country, fostering a strong local IT community,” he added.

He reiterated IFS’s dedication to collaborating with the Government, industry and academia to foster a knowledge-based economy in Sri Lanka.

Moffat emphasised the company’s commitment to further growth, announcing plans to add an additional 1,000 positions in the next two to three years.

He also noted that beyond business operations, IFS has been actively involved in supporting rural communities in Sri Lanka through the IFS Foundation, which focuses on initiatives in education and healthcare. “Our influence and engagement extend beyond business operations. We’ve been deliberate in building societal ties through various initiatives, supporting rural communities, schools, and hospitals through the IFS Foundation,” he added.

Moffat acknowledged that despite global and local economic challenges, including the pandemic and recent economic difficulties in Sri Lanka, IFS has maintained its commitment to the country.

“The country and its people are a part of IFS and will always be part of the IFS’s DNA,” Moffat affirmed, expressing pride in long-standing and deep-rooted commitment to Sri Lanka’s development and excitement for the future.

(ft.lk)

(Except for the headline, this story, originally published by ft.lk has not been edited by SLM staff) 

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Kandy – Mahiyanganaya main road reopened

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The Kandy – Mahiyanganaya main road has been reopened for vehicular traffic, from 6:00am onwards today (Jan. 21).

The road had been closed since yesterday afternoon from Kahatagolla due to the risk of stones falling onto the roadway.

According to the police, the Road Development Authority (RDA) has been informed to conduct further investigations on the ongoing risk.

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Chief Observer of the EU EOM meets the Speaker (Pics)

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The Chief Observer of the European Union Election Observation Mission, Mr. Jose Ignacio Sanchez Amor, Member of the European Parliament, and his delegation met with the Speaker – Jagath Wickramaratne at Parliament on Jan. 17.

Secretary General of Parliament of Sri Lanka, Mrs. Kushani Rohanadeera, was also present on this occasion.
During this meeting, the Chief Observer of the European Union Election Observation Mission first extended his congratulations to the Speaker and the new government. He then presented the final report of the Presidential Election Observation Mission – 2024 to the Speaker. The Chief Observer praised the democratic conduct of the elections and acknowledged the vital role of the Election Commission, emphasizing the importance of strengthening the Commission. He also expressed his appreciation for the increase in women’s representation in the current Parliament.

Speaking at the meeting, Speaker Dr. Jagath Wickramaratne expressed his gratitude to the European Union Election Observation Mission for sharing their experience. 

The Speaker emphasized that the government is currently working towards a more transparent, corruption-free governance with true democratic qualities. Meanwhile, the Speaker further stated that plans are being made to hold a conference of Members of Parliament with disabilities for the first time in the country.

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Trump orders US to leave World Health Organization

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US President Donald Trump has signed an executive order to begin the process of withdrawing the US from the World Health Organization (WHO).

“Oooh, that’s a big one,” the newly inaugurated US president said as he approved the document after arriving back at the White House. It was one of dozens of executive actions he put his signature to on day one in office.

This marks the second time Trump has ordered the US be pulled out of the WHO.

Trump was critical of how the international body handled Covid-19 and began the process of pulling out from the Geneva-based institution during the pandemic. President Joe Biden later reversed that decision.

Carrying out this executive action on day one makes it more likely the US will formally leave the global agency.

“They wanted us back so badly so we’ll see what happens,” Trump said in the Oval Office, referring to the WHO, perhaps hinting the US might return eventually.

The order said the US was withdrawing “due to the organization’s mishandling of the Covid-19 pandemic that arose out of Wuhan, China, and other global health crises, its failure to adopt urgently needed reforms, and its inability to demonstrate independence from the inappropriate political influence of WHO member states”.

The executive order also said the withdrawal was the result of “unfairly onerous payments” the US made to the WHO, which is part of the United Nations.

When Trump was still in office the first time around he was critical of the organization for being too “China-centric” in its tackling of the Covid-19 pandemic.

Trump accused the WHO of being biased towards China in how it issued guidance during the outbreak.

Under the Biden administration the US continued to be the largest funder of the WHO and in 2023 it contributed almost one-fifth of the agency’s budget.

The organization’s annual budget is $6.8 billion (£5.5 billion).

Public health experts have been critical of Trump’s decision to leave the WHO, warning there could be consequences for Americans’ health.

Some have suggested the move could reverse progress made on fighting infectious diseases such as malaria, tuberculosis and Hiv & Aids.

Ashish Jha, who formerly worked as Covid-19 response co-ordinator under President Biden, previously warned leaving would “harm not only the health of people around the world, but also US leadership and scientific prowess”.

“It’s a cataclysmic presidential decision. Withdrawal is a grievous wound to world health, but a still deeper wound to the US,” Lawrence Gostin, a global public health expert and Georgetown University professor said.

(BBC News)

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