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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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PSO transfer : Statement from Ranil’s office

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A statement has been issued by the office of former President Ranil Wickramasinghe with regard to the transfer of his Personal Security Officer.

The statement is as follows :

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Ranil’s PSO transferred to KKS

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Representatives from Communist parties of India-China join NPP May Day rally

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The Communist Party of India and the Communist Party of China were both represented at the May Day rally held here by President Anura Kumara Dissanayake’s NPP on Thursday.This is the first May Day celebration by the Janatha Vimukthi Peramuna (JVP), the mother party in the National People’s Power (NPP) broader front, after it came to power.

The party, founded in 1965, had led two rebellions to topple governments through armed revolution in the early 70s and late 80s.

Binoy Viswam of the Communist Party of India (CPI) pointed out how at last year’s May Day rally, Dissanayake predicted that “the next year when we celebrate the May Day, it will be a victorious May Day for the people and the workers of the Sri Lankan country. That day has come”.

Viswam said there were claims in the past that there is no alternative to capitalist system and that there is only one way, and that way is the way of the Americans, the way of the spoilers, the way of the capitalists.

“They said that’s the only way, no other alternative. They were wrong comrades, and we are right. Because we have proven that there is an alternative, and Sri Lanka has shown that way,” he said, praising the JVP government.

Peng Xiubin, Director General, Bureau of South and South East Asia Affairs of the Communist Party of China (CPC) said, “Six decades ago, your hands built the JVP. Over the years, you have kept fighting, making the JVP stronger and stronger, forming the national people’s power. Eventually, last September, you won the presidential election, a new milestone in the history of Sri Lanka”.

“Sri Lanka is China’s good neighbour, trusted brother, reliable partner. For 68 years of our diplomatic ties, we have worked hand in hand, shoulder to shoulder, showing the world how our countries can thrive together. Now, with the JVP leading Sri Lanka, new opportunities arise for China-Sri Lanka ties,” he said.

Dissanayake also spoke on the occasion.

(theweek.in)

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

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Probe over death of Sabaragamuwa Uni. student

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The Ministry of Education, Higher Education and Vocational Education has responded to the recent death of a student of the Sabaragamuwa University.

In a statement regarding the incident, the Ministry said a Board of Inquiry has already been appointed to probe the incident and if it the death is revealed to have been caused due to ragging, all factions responsible will be held accountable to the fullest extent of the law.

Once the report of the board is released, the University Management and the University Grants Commission (UGC) will take appropriate steps, the statement adds.

The statement also urges not to disseminate social media posts which harm the privacy of individuals until full details of the incident are revealed.  

According to reports, a 23-year-old second-year student attached to the Department of Engineering Technology at the University of Sabaragamuwa had taken his life after being distraught over a ragging incident.

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