Tea exports breaches US$1 bn value barrier in 2007
Daily Mirror / Friday, 29 February 2008
Colombo become model tea hub in global market
The Tea Export Trade celebrated a landmark achievement in breaching the elusive US$1 billion value barrier in the year 2007, for the first time in its 140 years history. In the official statistics released recently, the value of tea exports in 2007 is shown to have recorded a 22% increase over the 2006 figure, by advancing from Rs.91.7 billion to Rs.112 billion; an outstanding performance. More>>
Lanka promotes ‘Land like No Other’ at the ITB
Daily
News / Friday, 29 February 2008
Hiran H. Senewiratne
Sri Lanka Tourism will re-introduce the island destination keeping to their familiar and veritable theme “A land like no other’ at the International Tourism Exchange (ITB). The event will be held from March 5 to 9 in Berlin Germany.
ITB is considered as the largest global event for the Travel Industry promoting domestic, inter-regional and International travel throughout the world. More>>
India will host world food conference in April
Daily News / Friday, 29 February 2008
India will host the first global conference on agro industries to be held in New Delhi on April 8-11. The Global Agro Industries Forum (GAIF) will promote the importance of agro-industries for economic development and poverty reduction.
Around 500 senior representatives from the agro-industry, governments, technical and financing institutions, civil society and UN agencies will discuss the potential of agro-industries and the challenges they are facing. More>>
Sunsilk re-launches
Daily News / Friday, 29 February 2008
Unilever’s Sunsilk re-launched its range of hair type specific shampoos and conditioners in style, with new packaging, fragrances and an overall look and feel designed to appeal to the young woman of today.
New Sunsilk claims to transform the beauty of an individual’s hair starting from the very first wash. Apart from introducing improved formulations of the shampoo and conditioner ranges, Sunsilk introduced new products like Hair Treatment Masks and Leave On conditioners for damaged hair, in addition to Leave On Scalp Lotions that combat dandruff, all specifically designed to meet the hair needs of today’s generation. More>>
Seminar on Board Room challenges
Daily Mirror / Friday, 29 February 2008
The Boards of Public Companies are the policy making body and the
key driver for its success. However, individual Directors/ CEOs/ Executive
Committee members/Shareholders have there own perceptions of benchmark
Board composition, dynamics and accountabilities. More>>
Lanka has to be competitive businesswise - Rechmann
Daily
News / Thursday, February 28, 2008
Hiran H.Senewiratne
Sri Lanka must take care not to be marginalised by India which country
is becoming an economic super power in the region. Therefore Sri Lanka
has to be competitive in every aspect to face challenges, Director-
Chamber Development Project (CDP) of the Federation of Chambers of
Commerce and Industry of Sri Lanka (FCCISL) and Handwerkskammer Koblenz,
Germany, Peter Rechmann said. More>>
Sri Lanka ahead of Pakistan and Bangladesh in Advertising
Daily Mirror / Thursday, February 28, 2008
By Ravindu Peiris
Advertising in Sri Lanka is much more advanced than Bangladesh and Pakistan, says Professor John Philip Jones of Syracuse University, New York. Speaking to the Daily Financial Times at the seminar ‘The Business of Building Brands’ organized by Dynamix International Consultancy, he pointed out that although Sri Lanka is a very small market with only a population of 20 million, its advertising and branding is developing compared to most countries in the region, with the exception of India as the advertising industry in the sub-continent is superior to the one in Sri Lanka. “The standard of presentation of advertisements in Sri Lanka is very competent and efficient” he said. More>>
Sri Lanka Holcim unit keen on cement plant eyed by India's Birla
Daily Mirror / Thursday, February 28, 2008
Feb 26, 2008 (LBO) – Holcim Lanka, the Sri Lankan subsidiary
of the Swiss cement multinational, says it is interested in bidding
for a defunct cement plant in northern Jaffna that is eyed by India's
Birla group.
Holcim Lanka chairman Manilal Fernando said Tuesday he believes the
government will give all interested parties a chance to bid on equal
terms for the plant.
"Holcim is interested," he said. "We are sure the government will go about it in a transparent manner so all those who are interested can be given the chance to bid on equal terms." More>>
Colombo South, Hambantota harbour projects on track
Daily
Mirror / Thursday, February 28, 2008
Hiran H. Senewiratne
One of the leading infrastructure projects, the Colombo South Harbour in Colombo is on track despite lengthy delays, a Ports Authority source said.
The Government plans to build the Colombo South Port, as well as the new port in Hambantota and the projects will go ahead despite delays. More>>
Promotional push, special air fare deals to lure Arabian traveller
Daily Mirror / Wednesday, February 27, 2008
By Sherwani Synon
Special air fares together with a promotional push via Al Jazeera was launched yesterday in a bid to lure the current 13,000 Arabian travellers.
The Middle Eastern market has had a positive growth of 30% over the years and with the launch of this advertising campaign, the Sri Lankan Tourism Board together with SriLankan Airlines hopes to increase the number of visitors to the country this year. With an investment worth US$250,000, the campaign will commence from March 15 and will consist of 100 commercial slots on the Al Jazeera network. Sharing his views at the launch, Deputy Minister for Tourism, Faiszer Musthapha said that with a collective effort they can achieve more tourist arrivals. More>>
CCC signs MOU with CCI to energise construction sector
Daily Mirror / Wednesday, February 27, 2008
The Ceylon Chamber of Commerce entered into a Memorandum of Understanding
with the Chamber of Construction Industry Sri Lanka (CCI) recently
in a bid to energise private sector innovation in the construction
sector.
The MOU aims to strengthen cooperation between the Ceylon Chamber
and CCI in promoting National Economic Development with special reference
to Infrastructure Development and Construction related projects in
Sri Lanka. Both the Ceylon Chamber and the CCI strongly feels that
the private sector can play an active role in Infrastructure Development
by working closely with the Government through Public Private Partnerships
(PPP). More>>
Government at every level should talk to the business community - a vital aspect
Daily Mirror / Wednesday, February 27, 2008
The 13th Business for Peace Forum of the Business for Peace Initiative
of the Federation of Chambers of Commerce and Industry of Sri Lanka
was held at JAIC Hilton with Dr Karl Jurgen Wilbert, Chief Executive
Director, from Handwerkskammer, Koblenz, Germany as the Guest Speaker.
He spoke on the theme “Contribution of Business Organizations
to Peace and Reconstruction; Experience of a German Chamber on the
Balkans”.Dr Wilbert is the Chief Executive Director of Handwerkskammer
Koblenz – Germany’s Chamber of Crafts since 1978 while
Consul of Republic of Bulgaria in the German State of Pheinland-Pfalz.
More>>
Sri Lanka not to miss out on focusing on IT investment - Microsoft
Daily Mirror / Wednesday, February 27, 2008
By Sunimalee Dias
Information Technology (IT) has shifted onto new proportions in the
Sri Lankan market with more IT grads and IT talent pooling in to serve
in this area of business. Microsoft has embarked on various projects
and will be entering into the new trend of engaging in ERP solutions
which has been a fulfillment of the demand both locally and globally.
Microsoft in Sri Lanka headed by its Country Manager Sriyan de Silva
Wijeyeratne has observed that Sri Lanka should not miss out on focusing
on IT investment. In addition he also delved into detail regarding
the challenges the industry faces in respect of Intellectual Property
Rights. All this and more were part of the interview with the Daily
Financial Times with following being excerpts: More>>
Plantation agriculture and global development
Daily Mirror / Tuesday, February 26, 2008
Dr. N. Yogaratnam
Consultant National
Institute of Plantation Management
Plantation agriculture is a subject with various definitions and interpretations. The most appropriate interpretation being; “an economic system of producing agricultural commodities ( field crops or horticultural crops) for both domestic and export markets and offering self employment or employment for a relatively large number of skilled and unskilled workforce, usually year round and specialize in the production of only one or two marketable products”.
This
system of agriculture differs from other forms of agriculture in the
way in which the factors of production viz capital investment, technologies
and manpower management strategies are combined. More>>
WCIE Trade Fair in May
Daily News / Tuesday, February 26, 2008
The 9th Western China International Economy Trade Fair (WCIETF), which is integrated with commodity exhibition, merchandise trading and negotiations, investment and cooperation, business discussion forum, and business seminars, will be held in Chengdu, Sichuan Province, China, from May 25 to 28.
The
WCIETF provides opportunities for, Business meetings among developing
nations in global buying and supplying, to attend the second Symposium
of South -East Asian and West Chinese entrepreneurs, and to participate
in the Seminar on Inter-national tourism and culture, among several
other events. More>>
Sri Lanka progresses ahead with 84% penetration in e-ticketing
Daily Mirror / Tuesday, February 26, 2008
Countdown to last paper ticket - 100 days until 100% ET
Sri Lanka has made remarkable progress in keeping with world standards with an e-ticket penetration of 84% compared in the Asia Pacific region.
This was stated by the International Air Transport Association (IATA) last week when it commenced its important countdown – the 100 days to 100% e-ticketing.
“In 100 days the paper ticket gets put in a museum. On June 1, 2008 we will achieve 100% electronic ticketing,” said Giovanni Bisignani, IATA’s Director General and CEO. More>>
GL discusses export and trade ties with India
Daily Mirror / Monday, February 25, 2008
Minister of Trade Prof. G.L. Peiris was received by the Minister of
Panchayati Raj and Youth Affairs and Development of North Eastern
Region of India Mani Sharikar Aiyar, during his visit to India recently.
The two Ministers engaged in a wide-ranging discussion about current
developments in Sri Lanka with regard to the political process, initiatives
in respect of the Eastern Province and issues connected with Sri Lanka’s
Exports and trade between Sri Lanka and India. The High Commissioner
for Sri Lanka Romesh Jayasinghe, in India joined the Minister at the
discussion.
NCE expresses concern on proposed CEB tariff hike
Daily
News / Monday, February 25, 2008
The National Chamber of Exporters of Sri Lanka which represents the
voice of the exporter were of the unanimous view that if the proposed
hike in electricity tariffs of around 43% were to be implemented,
it would have disastrous consequences on export enterprises which
are so vital to sustain the economy. More>>
High tech reaches zenith
Daily
News / Monday, February 25, 2008
Hiran H. SENEWIRATNE
Sri Lanka’s high tech electronics industry has entered a new era with 30 per cent growth. This will create ample opportunities of having linkages with the growing Indian electronics sector, President of the Sri Lanka Electronics Manufacturing and Export Association, Merric Gooneratne said.
“We have a unique opportunity for establishing linkages with the growing Indian electronics industry. Since Chennai is developing as the global centre for excellence in automation industry,” Gooneratne said. More>>
Kelani Valley Plantations posts best year on record in 2007
Daily News / Monday, February 25, 2008
A record output of rubber combined with high prices for both tea and rubber in 2007 has enabled Kelani Valley Plantations PLC (KVPL), the Hayleys Group plantation company to post its best ever performance in a financial year. More>>
Nimal Cooke heads Lanka Russia Business Council
Daily
News / Monday, February 25, 2008
The Sri Lanka Russia Business Council (SLRBC) which functions under
the aegis of the Ceylon Chamber of Commerce, held its fifth annual
general meeting recently and President representing the Maharajah
Organisation Ltd, Nimal Cooke was elected President. More>>
Lankan regional business leaders on Australian business visit
Sunday Times /Sunday February 24, 2008
A group of regional business leaders from economically marginalized parts of Sri Lanka are scheduled to visit Australia later this month to link up with Lankan immigrants there for trade and export purposes.
This
visit is facilitated by International Alert in collaboration with
the University of Queensland and the Australia - Sri Lanka Council
Inc. in Australia. More>>
Dankotuwa launches “OPUS” hotelware
Sunday Times /Sunday February 24, 2008
Dankotuwa has launched the Opus Hotelware range in the local market as part of its strategy to break into strongly the Hotelware market.
“While many newer manufacturers have gone into automatic production machinery Dankotuwa has been very selective in this exercise and has ensured that the high quality of certain tradition manufacturing processes is not eroded. More>>
Top level CACCI delegation in SL
Daily Mirror / Friday, February 22, 2008
The Confederation of Asia-Pacific Chamber of Commerce and Industry
(CACCI) delegation led by its president Harvey Chang was in Colombo
for a two day vuisit. During their stay in Sri Lanka the CACCI delegates
had meetings with President of Sri Lanka,. Mahinda Rajapaksha, Prime
minister and the Minister of Export Development and International
Trade, Prof. G.L. Peiris and the Chairman of the Board of Investment
of Sri Lanka Dhammika Perera. The CACCI delegation exchanged ideas
on economic development policies of the country, introduce them to
CACCI, its objectives and activities, and to help solicit their support
in promoting programmes and projects of the Confederation. More>>
Interest in export processing zone jobs on the rise
Daily News / Friday, February 22, 2008
Job seekers have been showing a greater interest in jobs in export processing zones coming under the BoI's purview, Enterprise Development and Investment Promotion Minister Dr. Sarath Amunugama said.
The communication relating to job opportunities disseminated by the job bank network based on these 12 processing zones had created this interest as it had helped job seekers to make a proper assessment about the available jobs, he said. More>>
Training for Pakistani gem and jewellery sector
Daily News / Friday, February 22, 2008
The local gem and jewellery industry has trained foreign industrialists on gem cutting and gem polishing for the first time in Sri Lanka. Vice Chairman of Sri Lanka Gem and Jewellery Association Donald Perera told Daily News Business they have started conducting training courses for Pakistan industrialists on gem cutting and polishing.
The courses conducted by the Gem and Jewellery Institute and this institute is a public and private sector initiative. More>>
Are we doing enough to preserve our GSP status?
Daily Mirror / Friday, February 22, 2008
Dr Sarath Amunugama was heard stating that the business community
should use its contacts to save our GSP status. That sounds a good
idea and there is no doubt that business people know what the score
is and would do all in their power to preserve their business which
may depend on having the same type of access to markets which are
available to them now. It is also good to have the support of workers
organizations who should realize that jobs could be lost and the impact
will be on the families as well as on those who supply industries
with back up and support services as well. More>>
Regional business leaders to visit Australia
Daily News / Friday, February 22, 2008
A group of regional business leaders from economically marginalised
parts of Sri Lanka are scheduled to visit Australia end of this month
to promote economic development in order to address imminent social
crises such as rural poverty and youth exclusion in Sri Lanka, amongst
the business community of Sri Lankan origin in Australia. More>>
Brandix projects ‘mercurial’ growth in process efficiency
Daily Mirror / Thursday, February 21, 2008
Sri Lanka’s top apparel exporter Brandix has implemented the
first stage of a plan to take the apparel solutions provider beyond
the manufacture and export of apparel to becoming a knowledge-based
company that could ‘in-source’ the business processing
requirements of top international retail brands. More>>
Govt. readies to import cement
Daily Mirror / Thursday, February 21, 2008
By Shabnam Farook
Inadequate supply of cement by local suppliers has set the government in motion to call for tenders for importation of cement that will be finalised tomorrow.
The government will finalize a tender to import cement to the country by Friday Trade and Consumer Affairs Ministry secretary Dr.R.M.S Ratnayake told Daily Financial Times. More>>
Dubai wants to launch world’s first tea futures contract
Daily News / Thursday, February 21, 2008
Dubai wants to launch the world’s first tea futures contract if it finds a favourable response among major tea producers and other key industry participants, officials said on Tuesday.
They argued that international tea trade will benefit from a “well-functioning futures market” as it would provide a good pricing guidance for the commodity. More>>
Dankotuwa shakes off losses and looks to the future
Daily Mirror / Thursday, February 21, 2008
After two years of losses Dankotuwa Porcelain saw a turn around in
the first quarter of 2007 with a modest profit. It recorded an after
tax profit of LKR 7.1 Million for the first 09 months of 2007. This
is in contrast to the loss of LKR 112.7 Million for the corresponding
period in 2006. Turnover during this period has increased 11% over
the corresponding period in 2006, while manufacturing costs have declined.
In Dollar terms too the turnover increased but the major increase
was from the depreciation of the Rupee. More>>
Amunugama sets off to Japan
Daily Mirror / Wednesday, February 20, 2008
Enterprise Development and Investment Promotion Minister Dr Sarath
Amunugama will be attending the Sri Lanka National Treasure Exhibition
that will be held at the Hotel Okura, in Fukuoka, Japan. The Ryokusei
Japan Co. Ltd., the leading importer of Sri Lankan gems in Japan,
organizes the event, which will showcase Sri Lanka’s gem, jewellery
and handicraft sectors.
Minister Amunugama has stated that Sri Lanka’s gem and jewellery sector can easily bring in foreign exchange earnings of US$ one billion or more. More>>
Brandix projects ‘mercurial’ growth in process efficiency through Shared Services
Daily Mirror / Wednesday, February 20, 2008
Sri Lanka’s top apparel exporter Brandix has implemented the
first stage of a visionary plan to take the apparel solutions provider
beyond the manufacture and export of apparel to becoming a massive
knowledge-based company that could ‘in-source’ the business
processing requirements of top international retail brands. More>>
Delmege Distributors widens product portfolio
Daily Mirror / Wednesday, February 20, 2008
Delmege Distributors, a subsidiary of the Delmege Forsyth Group of
Companies and one of Sri Lanka’s leaders in the marketing of
branded packaged food products, specializing in retail and wholesale
distribution, introduced four new brands to the local consumer thus,
widening their product portfolio to 16 brands and over 150 products
in total. More>>
US SUVs converted in Sri Lanka for export markets
Daily Mirror / Tuesday, 19 February 2008
Sri Lanka could soon have a homegrown automobile industry, like many
other Asian countries such as India and Malaysia. Dr Sarath Amunugama,
Minister of Enterprise Development and Investment Promotion recently
told a visiting Indian delegation that the economic boom in a number
of Asian economies such as those of India and China had fuelled a
growing demand for automobiles in the region. More>>
Pakistan, Sri Lanka to sign up for trade expansion
Daily Mirror / Tuesday, 19 February 2008
KARACHI, Feb 18 Asia Pulse - Trade Development Authority of Pakistan,
(TDAP) and Sri Lanka Trade Development Board (SLTDB) will sign a memorandum
of understanding (MoU) to facilitate rapid increase in trade between
Pakistan and Sri Lanka under a Free Trade Agreement (FTA). More>>
World tea prices to increase
Daily
News / Tuesday, 19 February 2008
The Food and Agricultural Organisation (FAO) said world tea prices
are expected to increase as a result of a tight supply on the world
market which is caused by a projected 10 per cent decrease in Kenyan
production due to civil unrest.
In its report on current and future trends in the tea market prepared for the two day global Dubai Tea Forum beginning today, the FAO disclosed that world tea market for 2006 indicated an improvement in the fundamental oversupply situation that had persisted for two years. More>>
December exports reach US $ 863m, growth of 22.7%
Daily Mirror / Monday, 18 February 2008
Exports in December 2007 reached the highest ever monthly value of US $ 863 million, recording a significant growth of 22.7 per cent, year-on-year, the Central Bank said.
Industrial exports, with a share of 78 per cent in total exports, made the largest contribution to this growth, with most sub-categories including textiles and garments; food, beverages and tobacco; machinery and equipment; rubber products; and diamonds and jewellery, recording notable increases. More>>
EU to promote Sri Lankan footwear, leather industry in world market
Daily Mirror / Monday, 18 February 2008
The European Union will be assisting Sri Lanka in the promotion of
the country’s leather and footwear products in the international
market. This development comes in as a result of a special discussion
that took place recently between Prof. G.L. Peiris, Minister of Export
Development and International Trade and European Union (EU) Ambassador
Julian Wilson. The discussions centered around the promotion of the
footwear and leather products industry in Sri Lanka and efforts to
get EU assistance to promote such products in the international market.
More>>
Bartleets Weekly Tea Surveillance upto February 13:
Daily News / Monday, 18 February 2008
Middle East market liberalisation boosts Lanka tea demand
The quantity of tea arriving at the Colombo Auction this week came down to 6.466mkg from 6.909mkg traded in the previous sale. The ex-estate crops too have come down to 0.755mkg from 0.762mkg as to last week. More>>
Is Sri Lanka doing justice to the $1b Tea Industry?
Daily Mirror/ Monday, 18 February 2008
By Rohantha Athukorala
A 5 percent drop in the use of fertilizer can have a foreign exchange earning loss of Rs 2.8 billion for Sri Lanka. Hence it is time that we strategically take decisions to invest in this industry as it has taken 140 yaers for us to make this industry a $1 billion. We must bring in a $2 billion into Sri Lanka by 2017, and also become the Tea Nation of the World. More>>
PC pharma the first pharmaceutical importer to get ISO certification in SL
Daily Mirror/ Monday, 18 February 2008
PC Pharma, a fully owned subsidiary of PCH holdings was recently conferred
with the ISO 9001:2000 certification, the most essential standard
for adopting and implementing the required standards in their organization
while stream lining the systems and processes. PC Pharma (PCP) is
the first Sri Lankan pharmaceutical company to obtain this credit
from the ISO. More>>
India, Pakistan link to protect Basmati
Daily
News / Monday, 18 February 2008
Shilpa KANNAN
Lakhvir Singh is supervising the harvest of his basmati rice crop. As a team of men thrash the paddy on concrete slabs, two women load the produce onto oxen driven carts.
Ten kilometres from the border between India and Pakistan, his lush green fields have a bumper crop.
Grown
in the foothills of the Himalayas, Basmati rice was once known as
the food of the emperors. More>>
SMEs meet foreign buyers at Imexpro
Sunday Times / Sunday February 17, 2008
One of the main problems faced by SMEs in Sri Lanka is that the contact they come into with foreign buyers is limited. To deal with this, the Imexpro 2008 import export promotion exhibition was inaugurated at the BMICH recently. As its name implies, the exhibition feature a wide cross-section of players in the foreign trade arena, awarding opportunities for interaction and marketing. More>>
Aitken Spence aims high in global port management
Sunday Times / Sunday February 17, 2008
Aitken Spence’s pioneering venture into the port efficiency management in Durban, South Africa, Africa’s busiest port, has paid rich dividends and the company is looking at similar opportunities in the continent and beyond.
Officials said the company has already succeeded in breaking into management of global properties with a fresh deal signed in Oman and already managing properties in India. More>>
India treats Sri Lanka as equals in trading
Sunday
Times / Sunday February 17, 2008
By Bandula Sirimanna
The Indian government is willing to undertake a massive Information Technology and Technical Training initiative for the benefit of Sri Lankan students who are deprived of higher education due to the lack of sufficient university facilities here.
This arrangement will be finalized at a high level Indo –Sri Lanka meeting to be held in Bangalore India within the next three months. More>>
Keeping the GSP+ is up to Lankan government - EC
Sunday
Times / Sunday February 17, 2008
By Dilshani Samaraweera
The European Commission (EC) says it is up to the government of Sri Lanka to make sure the country continues to benefit from the European Union’s (EU) GSP+ trade scheme. More>>
Remarkable growth in Sri Lanka tea exports to China in 2007
Daily News /Friday, 15 February 2008
Ceylon Tea performed exceptionally well in the Chinese market and achieved a remarkable growth of more than 65% in comparison to the previous years’ exports. Although China is a huge market with more than 1.3 billion people, predominately users of green tea and Oolong tea.
China has been identified as very promising emerging market for Black Tea. Their demand for beverages is higher with the growth of their per capita income. More>>
IMEXPRO, a move for Sri Lanka to forge ahead to the world I
Daily News /Friday, 15 February 2008
By Damayanthi Hewamanna
IMEXPRO 2008 which is one of the largest trade fairs in Sri Lanka kicked off its 3-day fair at the Sirimavo Bandaranaike International Memorial Hall yesterday attracting participants in their numbers according to head of the Ceylon Chamber of Commerce.
Speaking at the inauguration of IMEXPO, Ceylon Chamber of Commerce Chairman Mahen Dayananda said that an event of this nature highlights the efforts taken in moving Sri Lanka forward in the international arena and attracts a large number of delegates. Import Export Promotion (IMEXPRO) 2008 is held with the objective of assisting local and overseas businesses to source suitable business partners and will showcase a range of local and international products and services that include agro, marine and industrial services, the manufactured product sectors while foodstuff, footwear, garments, pharmaceuticals, fruit and vegetables, rice, handicrafts, textiles, gems and jewellery are believed to be of popular interest. More>>
Japanese grant for agricuture projects in Batticaloa
Daily
News /Friday, 15 February 2008
Japan provided US$ 153,553 (Approximately Rs. 16.56 million) to the
Sewalanka Foundation and the Lanka Jathika Sarvodaya Shramadana Sangamaya
for agriculture restoration and food security projects in the Batticaloa
district under its Grant Assistance for Grass roots Human Security
Projects (GGP) scheme. More>>
Aitken Spence Travels goes for niche tourism markets
Daily
News /Friday, 15 February 2008
Hiran H. SENEWIRATNE
Aitken
Spence Travels, a subsidiary of Aitken Spence is planning a 10 per
cent growth this year.
They are planning to penetrate into untapped markets in East Europe
and Middle East to promote tourism, its Managing Director Gehan M
Perera told the Daily News Business. More>>
NCCSL
to organize Vietnam
Daily
News/Thursday, 14 February 2008
The
National Chamber of Commerce of Sri Lanka and the Sri Lankan Embassy
in
According
to the Ambassador, bilateral trade could be focused on agricultural
and industrial machinery, tea, food and beverage, herbal cosmetic
and drinks, electronic items, textile and fashion items, cosmetics,
automobile accessories, shoes & leather products, handicraft gift
items, pharmaceuticals, medical equipment, gem and jewellery,
confectionery and chocolates, rubber products.
About
15 leading
The
Sri Lankan Embassy in
Daily
Mirror / Thursday, 14 February 2008
The
Ceylon Tea performed exceptionally well in the Chinese market and
achieved a remarkable growth of more than 65% in comparison to the
previous years’ exports. Although
The
startling growth of Ceylon Tea Export to the Chinese market can be
attributed to the enthusiasm and efforts of the Ceylon Tea Exporters
who were guided and coordinated by the Embassy of Sri Lanka in China
and the Tea Promotion unit of the Sri Lanka Tea Board in Japan targeting
an intense promotion of Ceylon Tea in the Chinese market. Commonly
known as red tea (hong cha), black tea accounts for a mere 1-2 per cent
of
BOI signs agreement with Vedanta Lanka
Daily
Mirror / Thursday, 14 February 2008
The
Board of Investment of Sri Lanka signed an agreement with Vedanta
Lanka (Private) Limited. Chairman / Director General Dhammika
Perera signed the agreement and formally
presented the investor with the BOI Certificate of Registrations on
behalf of the BOI.
The
agreement with Vedanta Lanka is for a project to cultivate tropical
fruits, vegetables and spices. This is an investment of Rs.
145.6 million and will create employment for a workforce of 20.
Lanka Walltile invests
in alternate energy to reduce costs by around Rs.40mn
Daily
Mirror / Thursday, 14 February 2008
Lanka
Walltile Meepe
(Pvt) Limited [LWMPL] a wholly owned subsidiary of Lanka
Walltile PLC and EnerFab
(Pvt) Limited recently signed an agreement
on an ‘Energy Saving’ process through a Wood Gasification
project.
Under
this agreement EnerFab (Pvt) Ltd will undertake
the project on a turnkey basis to design, supply, install and commission
a Wood Gasification process at LWMPL for use at their Ceramic Wall
Tile factory. It is envisaged that the duration of the project
from designing stage to commissioning will be approximately five months.
The
continuing steep increases in the cost of LPG and other fuel in the
recent years has driven the industry to look for alternate sources
of energy to reduce cost of production; “the cost of energy
is around 39% to 40% of the total cost of production today”
said Mr. Lucky de Chickera, Managing Director
of LWMPL.
Lanka best in the region for cross border trading
Daily
News / Wednesday, 13 February 2008
Rohantha Athukorala, Director, Economic Affairs - SCOPP
The Global Economic Prospects (GEP) has estimated the South Asian Economy has grown by 8.4% in 2007. Consumer demand in the region has been boosted by expanding credit, rising incomes and strong worker remittances.
South Asia experienced investment growth being buoyant, as the business sentiments transmitted was positive. Revenue and profits of the corporate sector catapulted to make it the most attractive region for global players. More>>
Asia Siyaka tea market forecast
Daily News / Wednesday, 13 February 2008
Tea outlook 2008:
Market prospects for Ceylon tea in 2008 look optimistic. Local and global factors would play a part in a year full of opportunity and some uncertainty. Low grown teas; together with whole and semi leaf grades from other elevations will enjoy good marketing conditions throughout 2008.
Price levels set in 2007 should hold, other than during high producing period of Q2 when we could see comparatively lower prices if a production surge does take place. Small leaf grades from higher elevations too should follow a similar pattern. In this instance however external factors may influence prices even during rush months of Q2. More>>
Aitken Spence 9-month profit up by 16%
Daily
News / Wednesday, 13 February 2008
Aitken Spence released its third quarter financial results to the
Colombo Stock Exchange on Tuesday.
The blue chip reported a Rs 1.9b as profit before taxation and Rs 1.1b profit attributable to the shareholders for the nine months ending December 31, 2007, a growth of 15.8 per cent and 20.7 per cent respectively, compared to last year. More>>
Crude oil with made in Sri Lanka label?:
Government gives solid start to dream project
Daily
News / Wednesday, 13 February 2008
H.L. Kak
The Sri Lankan Petroleum Development Ministry, according to media reports, has received six bids from three foreign companies for oil exploration in its northwestern offshore Mannar basin.
This marks the successful start of Sri Lanka's first ever bid round. This is a really great achievement given the barriers they had to overcome. The disadvantages are all too obvious high country risk due to the war, the proximity of these offshore blocks to past sea battles, virgin/unproven territory label, etc. ONGC's decision to question the petroleum prospects publicly and pull out of the block granted through a government-to-government deal while the bidding was taking place also added further problems. More>>
Indian trade delegation meets Minister Amunugama
Daily News / Tuesday, 12 February 2008
An Indian trade delegation led by State Commerce and Industry Minister Jairam Ramesh called on Enterprise Development and Investment Promotion Minister Dr. Sarath, Amunugama, Investment Promotion Minister Navin Dissanayake, BOI Director General Dhammika Perera and senior Government and private sector officials yesterday. More>>
Lankan exports can be increased
Daily News / Tuesday, 12 February 2008
"Sri Lanka has more potential to increase exports by a healthy margin if the country focus on its local strengths and have a national plan based on a short, medium and long term strategy," said President elect of National Chamber of Exporters (NCE) and Managing Director of HVA Lanka Exports (Pvt) Ltd Rohan Fernando. More>>
ICC - SCCI Regional Workshop on Trade Facilitation
Daily News / Tuesday, 12 February 2008
International Chamber of Commerce and SAARC Chamber of Commerce and Industry organises Regional Workshop on Trade Facilitation and Challenges for Custom and Business Community in Colombo May 8 and 9. "Why Must SAARC Provide Trade Facilitation". "Make SAARC an attractive regional hub for investment and business" will be theme of the event. More>>
Over 50 apparel factories certified by SGS
Daily News / Tuesday, 12 February 2008
'Garments Without Guilt' website re-launched:
Joint Apparel Association Forum (JAAF) celebrated key milestones of Sri Lanka Apparel at a special function held for the apparel industry.
The highlight of the evening was the presentation of the "Garments Without Guilt" certificates to over 60 factories certified by SGS for having complied under the Charter of "Garments Without Guilt". More>>
Pakistan showcases trade at Lanka’s premier exhibition
Daily Mirror / Tuesday, 12 February 2008
Trade between Sri Lanka and Pakistan were functioning smoothly, though
Sri Lanka was going through calamities caused by ruthless bombing
in the weeks leading to Freedom-Day celebrations.
Pakistani stalls took prominence among many foreign exhibitors who
participated at the premier Lankan exhibition "Deyata Kirula,"
held from February 7 to 10 as part of Sri Lanka 's celebrations of
independence. More>>
Brandix scores big in India
Daily
News / Tuesday, 12 February 2008
Visiting Minister State for Commerce of India, Jairam Ramesh said
Brandix Lanka was the most non-controversial company to set up business
in the Indian Special Economic Zones. (SEX)
Brandix invested US $ 50 million to set up business in Vishakapatnam, India in the 1,000-acre park two years ago. More>>
Rice export ban by India not to affect Lanka
Daily News / Monday, February 11, 2008
Sri Lanka, which imported 70,000 tons of rice from India during 2007, is likely to remain unaffected by a ban on exports of non-basmati rice imposed by New Delhi.
This is due to the domestic crop that will hit the Sri Lankan market from this month end, according to traders.
"We
are hopeful for being in a comfortable position on rice as the new
domestic crop will start arriving from the end of this month and therefore,
restrictions by India at this moment will not cause any problem,"
a spokesperson of an importers body said. More>>
FCCISL launches 8th SAARC Trade Fair 2008
Daily Mirror / Monday, February 11, 2008
The 8th SAARC (South Asian Association of Regional Cooperation) Trade
Fair was launched on 5th February 2008 at Colombo Cinnamon Grand Hotel
with two Ministers – Rohitha Bogollagama, Minister of Foreign
Affairs and Prof G L Peiris, Minister of Export Development and International
Trade attending the function.
The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL)
has got the opportunity of hosting this prestigious SAARC event for
the second time that will be held from 28th to 31st August 2008, the
first occasion was the organizing of 2nd SAARC Trade Fair in Colombo
from 8th to 15th September 1998. More>>
Footwear expertise for Ceylon Leather
Daily
News / Monday, February 11, 2008
Ramani KANGARAARACHCHI
Ceylon Leather Products Limited is to obtain the services of Footwear Design and Development Institute Noida to get consultancy for designing, installing and commissioning a shoe and leather factory in Gampaha.
Managing Director Ceylon Leather Products Sithendra Senaratne said FDDI experts have done a survey and identified certain critical areas on the site and they were of the opinion that the output of company could be doubled if these areas are taken care of. More>>
Bartleet monthly market round-up
Daily News / Monday, February 11, 2008
The year dawned with a lot of political turmoil while the series of explosions continued throughout the month to make overall market sentiments weak and activity to be subdued to a great extent.
Investors stood on the sidelines and monitored directions while the indices fluctuated between marginal positive and negative boundaries. Daily Average turnover stood at a low Rs. 171mn. More>>
National Shipping industry is a must for strong economy
Daily Mirror / Monday, February 11, 2008
Raknish Wijewardene
A successful national shipping industry and merchant marine is vital to safe guard the nation’s economic and security interests. Therefore reviving of the Ceylon Shipping Corporation together with local merchant marine would reduce the nation’s dependence on foreign carriers. More>>
Airport denies EDB over 1500 sq. ft. for project of “national interest”!
Daily Mirror / Friday, February 08, 2008
By Ravindu Peiris
Airport and Aviation Services Limited (AASL) has denied the Export Development Board (EDB) 1,589 sq. ft. to accommodate 20 selected companies. Although the EDB originally requested 1,600 sq. ft. in the departure lounge and 320 sq. ft. in the arrival lounge it received only 331 sq. ft. on the ground floor of the departure lounge (Shop 58D). Addressing a gathering at the opening of the Export Promotion Display and Sales Centre at the Bandaranaike International Airport (BIA) Development and International Trade Minister Professor G.L Peiris said that floor space was the biggest issue for the EDB in establishing this centre. “Initially the requested floor space was 1600 sq. ft. but the EDB received only 331 sq. ft.” he said. More>>
8 companies withdraw from Export Promotion sales centre
Daily
Mirror / Friday, February 08, 2008
Eight companies have withdrawn from participating at the Export Promotion
sales centre of the EDB at the Colombo international airport. Initially
with 12 companies scheduled to participate at the Export Promotion
sales centre later 8 companies withdrew due to various reasons thereby
leaving only 4 companies that are currently operational at the BIA
airport, EDB officials divulged.
Export Development and International Trade Minister Prof. G.L Peiris
said that out of the 50 companies that applied to obtain showroom
space 12 were selected to display their products. More>>
Tea exports pass US$ 1b landmark
Daily News / Friday, February 08, 2008
Ramani KANGARAARACHCHI
The
tea export trade has recorded a landmark achievement, by exceeding
the US $ 1 billion value barrier in 2007 for the first time in its
140 year history.
Chairman Sri Lanka Tea Board Lalith Hettiarachchi said, the value
of tea exports in 2007 recorded a 22 per cent increase over the 2006
figure by advancing from Rs. 91.7 billion to Rs. 112 billion which
is a remarkable improvement.
More>>
Prawn industry calls for credit line
Daily News / Friday, February 08, 2008
The lucrative prawn industry which has earned Rs. 45 billion since 2006 as foreign exchange earnings needs a credit line at low interest to promote new investors in succeeding the failures as many farms have been abandoned.
This is because the banks have suspended granting loans to the industry on account of non performance by some investors due to diseases, President, Consortium for the Development of Aquaculture David Edirisinghe said. More>>
Aitken Spence enters Middle East hospitality industry
Daily News / Friday, February 08, 2008
Signifying a milestone in Sri Lanka’s hospitality sector, the
country’s leading resort operator, Aitken Spence signed and
agreement with Oman Hotels & Tourism Co SAOG this week to manage
four properties in Oman. More>>
Deyata Kirula exhibition begins today
Daily
News / Thursday, 7 February 2008
Dharma Sri Abeyratne
COLOMBO: The 'Deyata Kirula' exhibition will commence today at the BMICH, Colombo.
The exhibition would express the nation's self-esteem regarding its proud heritage, present challenges and projected development, Finance & State Revenue Minister and Deputy Minister of Finance & Planning Ranjith Siyambalapitiya said. More>>
Mega Lifesciences glow in world market
Daily
News / Thursday, 7 February 2008
Expat Chit Chat
The company Mega Lifesciences was established in 1983. In 2001 we started operations in Sri Lanka. We are in three continents. This month we expanded into the Latin American continent.
Mega Lifesciences is engaged in manufacturing, marketing, selling and distributing medicines - nutritional, herbal, OTC-drugs and prescription-drugs in developing countries. It operates in more than 25 Countries from Asia-Pacific, Middle East, Africa, CIS-Countries, Latin America and Europe. More>>
Japan hopeful of Lanka's economy
Daily News / Thursday, 7 February 2008
Japanese Ambassador Kiyoshi Araki expressed hope for an improved and better economic relationship between Sri Lanka and Japan at a Fellowship Evening held by the Sri Lanka-Japan Business Co-operation Committee (SLJBCC) recently.
He said that the agreement to establish a 'Government-Private Joint Forum' between Sri Lanka and Japan augured well for Lanka's economy. More>>
"Lanka offering attractive and rewarding life opportunities"
Daily
News / Thursday, 7 February 2008
"I believe Sri Lanka now offers a very attractive and rewarding
life opportunity away from the "Rat Race" of the West."
Delivering the keynote address at the 22nd LBR-LBO CEO Forum held at the Cinamon Grand Hotel Colombo yesterday under the theme" From 0.2 to 30,000 -Developing a Global Market Leader" Chairman Jinasena Group Dr. Nihal Jinasena pointed out that the quality of life in Sri Lanka has improved beyond recognition and salary levels, in the region of half a million Rupees a month, are not at all unusual. More>>
Deyata Kirula from tomorrow
Daily
News /Wednesday, 6 February 2008
Dharma sri Abeyratne
Colombo: The police along with the Security Forces have taken every possible step to ensure security during the 'Deyata Kirula Exhibition' which will commence tomorrow, Finance & State Revenue Minister and Deputy Minister of Finance & Planning Ranjith Siyambalapitiya said yesterday.
The Minister said there is no point of having doubts about security since the Government has taken special precautions. More>>
Dankotuwa burdened with jacked up energy costs
Daily Mirror /Wednesday, 6 February 2008
By Ravindu Peiris
Dankotuwa Porcelain is currently burdened with a 40% of total production cost due to jacked up energy prices prevalent in Sri Lanka.
Speaking to the Daily Financial Times Dankotuwa Porcelain Chairman/ Managing Director Sunil G. Wijesingha stated that the high energy costs in Sri Lanka has become a major issue since Sri Lanka’s main competitors Bangladesh and Thailand are using natural energy which is much cheaper. More>>
Malaysia to help Sri Lanka to combat money laundering
Daily News /Wednesday, 6 February 2008
The Financial Intelligence Unit of the Central Bank of Sri Lanka (CBSL) recently signed a Memorandum of Understanding with the Financial Intelligence Unit of the Central Bank of Malaysia i.e. Bank Negara, Malaysia for the exchange of information on a regular basis to facilitate the investigation and prosecution of persons suspected of money laundering or financing of terrorism. More>>
EDB establishes sales centre at BIA
Daily
News / Tuesday, 5 February 2008
The Export Development Board will establish an Export Promotion Display
and Sales Centre of EDB at the Bandaranaike International Airport,
Katunayake on February 7.
The establishment of Export Promotion and Display Centre is a significant effort to promote and develop products of SMEs displaying their products, Deputy Director (Marketing) T. K. Premadasa said.
The SLEDB has advertised calling applications from interested parties to participate in this Product Display Centre and selected Sri Lankan export companies for the trade display. More>>
Delmege ventures into Vietnam
Daily News / Tuesday, 5 February 2008
Shirajiv Sirimane
Delmege
Forsyth and Company will set up a coir product manufacturing factory
in Vietnam.
Group Director Delmege Shamil Mendis said the main attraction for
them to branch off to Vietnam was the raw material potential in Vietnam.
"They are not only available in abundance but are also cheaper
there and the labour market in Vietnam too is encouraging," he
said.
Delmege is a leading exporter of coir fibre products, coconut products, spices and natural fertiliser to more than 20 countries. The company also exports tea, ethnic foods, handicraft, ornamental pottery, cut flower, ornamental ceramics, wooden and soft toys. More>>
Touchwood establishes new export market of Rs.30 bn
Daily Mirror / Tuesday, 5 February 2008
By Yohan Perera
Touchwood the only publicly listed, ISO certified Forestry Company in Sri Lanka and in the South Asian region has embarked on the journey to turn a new chapter in the country’s economy by making a change in Sri Lanka’s export earnings by the year 2015.
Touchwood Head of Sales and Marketing Kanil Hattotuwa said the company is on its way to create a new export market where the country would earn an annual income of Rs 30 billion from timber exports by the year 2015. This he said would be achieved with the increasing demand for wood which is currently 6.5 cubic meters which is bound to multiply with the increase of population. More>>
Facets Sri Lanka 2008 off to flying start
Daily Mirror / Tuesday, 5 February 2008
Promotion at China gem and jewellery fair
Facets Sri Lanka 2008, Sri Lanka’s one and only international gem and jewellery show got off to a flying start as early as November 2007 with the initial promotion of this grand national event at the China International Gold, Jewellery and Gem Fair in Shanghai.
The interest shown by leading Chinese gem and jewellery establishments was indeed very encouraging, so come September 2008, some new faces from mainland China are expected to attend the show. Plans are also afoot for more intensive promotions at the GLDA Tucson, USA, IJT Japan and the BGJF Bangkok, Thailand, in the Asia pacific region, in the first quarter of this year. More>>
Tea report:
Daily News / Tuesday, 5 February 2008
UK, Japan, CIS buyers active
The quantity of tea arriving at the Colombo Auction this week rose again to 7.997mkg as compared to 7.920mkg in the previous sale. However, the ex-estate crops have come down to 1.063mkg from 1.213mkg last week.
Market segments: On the Ex Estate segment Best BOP and BOPFannings were Rs. 10 to 15 dearer whilst Below Best and Bottom teas were Rs. 5 to 10 dearer. CIS buyers were very active whilst UK and Japan were active. More>>
Dipped Products turnover Rs 8 bn in first 9 months of ’07-08
Daily Mirror / Tuesday, 5 February 2008
Dipped Products PLC (DPL), the Hayleys Group’s leading global
rubber glove manufacturer has reported a turnover of nearly Rs 8 billion
for the first nine months of 2007-08, following an increase in export
volumes in its local hand protection businesses.
In results released to the Colombo Stock Exchange last week, DPL,
which has a significant interest in plantations, reported that turnover
had grown 12 per cent in the nine months ending December 31, 2007.
The company’s hand protection businesses contributed Rs 6.5
billion to this result and plantations Rs 1.9 billion, including inter-segment
sales. More>>
India to buy more cloves from Lanka
Daily News / Tuesday, 4 February 2008
India should be able to import cloves from Sri Lanka at cheaper rates as the country is likely to witness higher production of the commodity.
India is virtually the only importer of cloves from Sri Lanka and higher production prospects would be beneficial for it as the commodity would become cheaper.
Clove production in Sri Lanka is estimated to go well over 2,000 tons during this year. More>>
India among largest investors in Sri Lanka
Daily
News / Tuesday, 4 February 2008
P.K. Balachandran
India has emerged as one of the largest foreign investors in Sri Lanka, with a commitment of over $200 million since 2000. There are signs $364 million will be added to this soon, if some prestigious projects are implemented.
The Lanka Indian Oil Corp (LIOC), is a wholly owned subsidiary of IOC, is the largest Indian investor, having pumped in Sri Lankan Rs.7.57 billion ($74.2 million). LIOC is among the top 10 foreign investors in the island. More>>
Deyata Kirula from Thursday
Daily News / Tuesday, 4 February 2008
The Deyata Kirula exhibition will be held from February 7 to 10, from 10 a.m. to 10 p.m. each day at the BMICH, Colombo, the Government Information Department announced.
A special traffic plan will be in operation from today in the vicinity of the BMICH. Transport facilities will be provided to exhibition goers and several car parks have also been designated. More>>
Impra tea maintains growth in Russian market
Daily
News / Friday, 1 February 2008
Ramani KANGARAARACHCHI
“Impra” the largest single brand of Pure Ceylon Tea in Russia identified with Tea Board’s Lion Logo is to expand its export by 20 per cent this year, Managing Director Imperial Tea Exports, Jayantha Karunaratna said.
Their annual Tea Distributor Conference was held in Sri Lanka recently. More>>
FINCO adjudged best in Asia for BASF chemicals
Daily News / Friday, 1 February 2008
The
Engineering Sales Directorate of the Finco Group (Finco ESD) has been
adjudged the best distributor in the Asian region in 2007 for BASF
Construction Chemicals, a global leader in the field.
This is the third time that this award in a region that includes South
Asia and the ASEAN countries, has been won by Finco. Finco ESD also
received this award in 2004 and 2005. More>>
Govt. remains confident of “economic fortunes”
Daily Mirror / Friday, 1 February 2008
By Sunimalee Dias
Inflation up in January with CCPI at 21.6% and CCPI (N) at 20.8%
The government continues to remain confident of Sri Lanka’s economic stability amidst warning signs of the US expected to go in for recession.
“Any slowing down of the US economy would tend to lower worldwide oil prices which would be impacting on our terms of trade favourably and therefore the risk of any material change in our economic fortunes is quite minimal,” Central Bank Governor Ajith Nivard Cabraal told the Daily Financial Times. More>>
Clove prices tumble
Daily News / Friday, 1 February 2008
The price of cloves has fallen by over Rs. 100 per kg to Rs. 450/470 per kg in January. Former Chairman of the Spices and Allied Products Producers’ and Traders Association Gulam Chatoor said that at the other origins, Indonesia and Madagascar, clove prices have been falling and with a very good crop in Sri Lanka, the world prices have been declining.
“Practically all exports from Sri Lanka have been going to India where Sri Lankan cloves enjoy a zero tariff under the Free Trade Agreement whereas, imports into India from other origins are subject to a 35% tariff. More>>
Toyota Lanka enters into lubricant market
Daily Mirror / Friday, 1 February 2008
Toyota Lanka Limited one of the country’s premier motor dealers
entered in to the lubricant industry by getting permission from the
government to import Toyota Genuine Oil.
According to Toyota Lanka the main reason for the company to enter
in to Sri Lankan lubricant market is to provide high quality service
and value addition to its customers whilst contributing to the environment
and the economic development of the country. More>>
MAS Celebrates 20 years of Excellence
Daily Mirror / Friday, 1 February 2008
MAS Holdings Celebrate 20 years of Excellence at a grand book launching
ceremony at the Cinnamon Grand,where Mahesh Amalean, Chairman MAS
Holdings presented the first copy of the book ‘ MAS Holdings
Changing Perspectives’ to Martin Trust, President Brandot International
. More>>