Lanka nets Rs. 930m on tea exports to Japan
Sunday Observer / Sunday, 27 January 2008
Sri Lanka earned Rs. 930 million by exporting tea to Japan up to November last year and the target is to increase the export earnings from Japan to one million this year.
During a recent visit to Japan Minister of Plantation Industries D. M. Jayaratne presented gold, silver and bronze medals to Sri Lankan tea importers in Japan. In addition the trade representatives of Japan had a discussion on the import of Sri Lankan Tea with the minister. More>>
Sri Lanka seeks to persuade India to lift pepper import restrictions
Sunday Times / Sunday, 27 January 2008
Strengthening cooperation between India and Sri Lanka in the spices’ industry and trying to resolve the restrictions on Sri Lankan pepper imports by India are among the issues slated for discussion during the visit to India by a Sri Lankan delegation of spice producers.
D. A. Perera, Chairman of The Spice Council with M.I. Inshaf of Ishana Spice Exports and Sanath de Silva of SDS Spices (Pvt) Ltd, members of the council’s Board of Management, will be attending the 9th World Spice Congress to be held in Goa, India from January 28 – 30. More>>
US markets crashing – an opportunity for Lanka
Sunday Times / Sunday, 27 January 2008
Despite fears of the local stock market crashing in tandem with the stock markets in the US and elsewhere, many industry stakeholders feel this situation is a case of opportunity in adversity.
Dimuthu Abeysekera, CEO Asha Philips (Pvt) Ltd pointed out that the local market has come down so much that there is ‘no room’ for it to come down further. “Our market came down due to the ground situation in the country and rising interest rates. Crashing of world markets would not have made any impact,” he said. More>>
Apparel sector targets Rs 3.5 bln revenue
Daily
News / Friday, 25 January 2008
Shirajiv SIRIMANE
Sri
Lanka would be targeting Rs. 3.5 billion revenue from the apparel
industry, Chief Executive Officer Brandix Lanka Ltd, Ashroff Omar
told ‘Daily News Business’ at the Apparel Exporters’
Association AGM, at Galadari yesterday.
He noted the revenue target topped the Rs. 3.2 billion mark last year.
“This year is very challenging for the sector not only for Sri
Lanka but for other suppliers as well,” he said. More>>
Handicraft centre
Daily News / Friday, 25 January 2008
A handicrafts marketing centre is to be set up in Sri Lanka on the lines of the ‘Delhi Heart’ handicrafts centre in New Delhi, India.
This will benefit artisans and buyers especially in the tourism sector. More>>
Colombo Jewellery Stores adds the glitz and glamour to Colombo Fashion Week 2008
Daily Mirror / Friday, 25 January 2008
Colombo Jewellery Stores (CJS) – Colombo’s premier jewellers
– announced recently that it would amaze audiences at this year’s
Colombo Fashion Week, with a spectacular show on the final day of
the festival to unveil the jeweller’s latest collection.
CJS has consistently been reputed for exquisite and unique pieces
of jewellery. It is this expertise that will be featured on the ramp
as CJS unrolls their “Red Carpet” at the fashion fiesta
on January 29. More>>
Average family income around Rs. 20,000:
Daily Mirror / Friday, 25 January 2008
Plantation
workers’ benefits - above other industry norms
The increase in plantation worker wages has received much publicity
in the recent past. While some stories focussed on the justification
for the wage increase in the context of the rising cost of living,
few considered the impact of the increase in wages, thrust suddenly
upon the industry, in terms of viability of Sri Lanka’s tea
sector, trying hard to stay afloat and compete with global market
prices and production costs. More>>
Big demand for Lankan tea in Japan
Daiy
News / Thursday, 24 January 2008
Chaminda Perera
There is an immense demand in Japan for Sri Lankan tea. Tea export earnings from Japan exceeded Rs. 930 million by November last year, said Plantation Industries Minister D.M. Jayaratne.
Minister Jayaratne made these observations at a discussion with Sri Lankan tea exporters in Japan on the challenges faced by the industry. The Minister recognised them by awarding special mementos to them at the Hilton Hotel in Tokyo. More>>
Fair demand at Tea Auction
Daiy News / Thursday, 24 January 2008
Yesterday’s Ex-Estate market comprising a large weight of 1.2 Mkgs, which was 300,000 Kgs more than the previous week met with fair demand.
The Western BOP/BOPFs at the commencement of the sale were Rs.5/- to Rs.10/- easier, however strengthened and ended the sale being firm to a few rupees easier. More>>
2007 Dec. SL tea production increased by 49%
Daiy Mirror / Thursday, 24 January 2008
The Sri Lanka Tea board yesterday announced that country’s tea
production in the month of December last year showed a 49% increase
over corresponding month of 2006. More>>
Live poultry imports from India banned
Daiy News / Thursday, 24 January 2008
Sri Lanka yesterday banned imports of live birds and chickens from India, G. Wijesiri, a senior official with the Animal Health Department said.
This decision has been taken in the wake of the spread of the disease among birds in India. India’s West Bengal state said Wednesday it was falling behind in its attempts to halt the spread of bird flu among poultry as the virus was confirmed in two new areas. More>>
Delmege to go for bigger segment in market
Daiy News / Thursday, 24 January 2008
Delmege Interior Decor a subsidiary of the Delmege Group of Companies announced an association with Asian Cottages, whereby Delmege will be the sole agents for Asian Cottages for Sri Lanka, India and the Maldives. More>>
Two more vessels to take over:
Mercantile shipping bid to modernise fleet
Daiy News / Thursday, 24 January 2008
Hiran H.Senewiratne
Sri Lanka’s Mercantile Shipping Company Ltd would take over two newly built cargo ships as part of efforts to modernize its fleet of the company, one of its officials said.
The
company has signed an agreement with the Dutch government for a ship
building grant for the two multi-purpose vessels each of 7,800 tons
deadweight. More>>
Pakistan Trade Exhibition inaugurated in Colombo
Daily News / Wednesday, 23 January 2008
'Vibrant Pakistan-sharing excellence' the Pakistan Trade Exhibition
2008, in Colombo was concluded in Colombo.
The three-day exhibition, jointly organised by the Pakistan Trade
Development Authority and the High Commission for Pakistan in Colombo
facilitated the business community in the first two days.
Nearly
100 companies from varied business sectors from Pakistan were seen
displaying their wares in colourful trade stalls at the Sirimavo Bandaranaike
Memorial Exhibition Centre. Welcoming the guests and participants
to the event High Commissioner for Pakistan in Colombo Shahzad A.
Chaudhry said that the exhibition is symbolic of sharing Pakistan's
economic progresses and achievements with friends. More>>
Hewas wins awards at NCE Exports Awards
Daily News / Wednesday, 23 January 2008
Universal Plastics (Pte) Ltd the BOI wing of the Hewas Group won a bronze award under 'Suppliers and Service Providers to Exporters' Large category and a merit award under 'Industry' - Large Category.
This is the first time that Universal Plastics has participated on an awards scheme and had been successful in its maiden attempt. The management, the staff and the workers are thrilled to be a part of this wonderful achievement. More>>
CCC makes positive progress on mission to Qatar, Turkey and UAE
Daily News / Wednesday, 23 January 2008
The Ceylon Chamber of Commerce (CCC) Trade Fair Unit concluded its programme of activities for 2007 with another success story.
Subsequent
to a result-oriented mission to Saudi Arabia, Oman and Bahrain in
September, during the last lap of the year, the Trade Fair Unit offered
another opportunity to the members to explore the Qatar, Turkey and
the UAE markets. More>>
German R&D provider invests in Lanka
Daily News / Wednesday, 23 January 2008
HIRAN H.SENEWIRATNE
German based global provider in electronics, plastics and metal technologies IVP Gmbh will invest for a Research and Development (R&D) unit in Sri Lanka in partnership with Tos Lanka Co. (Pvt) Limited.
The initial investment for the unit would be more than US$ 250,000 and will work with Tos Lanka. The main objective is to penetrate into the lucrative Indian market through Sri Lanka, the Chief Executive Officer Ralf Wedekind said. More>>
CIC Agri Business to embark on liquid milk processing
Daily
News / Wednesday, 23 January 2008
Anjana Samarasinghe
CIC Agri Business will embark on a liquid milk processing project
investing over Rs 300 million in the near future.
Director CIC Agri Business, Waruna Madawanaarachchi told Daily News Business that they need a 1,500-acre land for the project and the company is negotiating with the Government to find suitable land. "We are looking for a land closer to Eastern Province. More>>
WTO negotiators still divided over industrial goods
Daily Mirror / Wednesday, 23 January 2008
The 151 countries negotiating a new global free trade pact remain
starkly divided about how much they should cut tariffs shielding their
manufacturing sectors from competition, diplomats said on Monday.
Developing countries have been resistant to open up their fuel, mining and industrial markets in the six-year-old World Trade Organisation (WTO) push for a deal meant to buoy the global economy through more cross-border commercial flows. More>>
FTA boosts SL-India trade to US$2.7 bn - G.L.
Daily Mirror / Tuesday, January 22, 2008
Trade between India and Sri Lanka that was worth only US$ 557 million
in 2000 has been boosted upwards to US$ 2.7 billion at present solely
due to the Indo-Lanka Free Trade Agreement.
This was stated by Export Development and International Trade Minister
Prof. G.L.Peiris. He also said that through the implementation of
the proposed CEPA Agreement bilateral trade relations in the service
sector would get strengthened. Prof. Peiris was addressing a special
conference organized by the Indian Chamber of Commerce and Industry
for the visiting Sri Lankan Trade and Investment delegation headed
by Prof. Peiris that toured Chennai recently. More>>
Statistics don’t indicate actual industry performace
Daily
Mirror / Tuesday, January 22, 2008
By Shabnam Farook
Gem and jewellery bigwigs last week stated that statistics released
by the Gem and Jewellery Authority do not in fact reflect the actual
growth performance of the industry. More>>
Gem and jewellery sector sparkles in 2007
Daily News / Monday, January 21, 2008
The export performance of the gem and jewellery sector was high in 2007 despite forecaster spelling gloom and doom as they looked towards the critical, end of the year holiday season.
The gem and jewellery industry was successful in earning Rs. 51.9 billion in 2007 and it was a 16 per cent growth compared with previous year's figure of Rs. 44.9 billion.
Gem exports equalled Rs. 10.4 billion 6 per cent more than the amount reported in 2006. More>>
CCC expands trade links at tri-nation biz promotion mission
Daily Mirrir / Monday, January 21, 2008
The Ceylon Chamber of Commerce (CCC) Trade Fair Unit concluded its
programme of activities for year 2007 with yet another success story.
Subsequent to a result-oriented mission to Saudi Arabia, Oman and
Bahrain in September, during the last lap of the year, the Trade Fair
Unit offered another opportunity to the members to explore the Qatar,
Turkey and the UAE markets. These missions, whilst focusing on promotion
of trade, investments and joint ventures also served as fact-finding
missions. More>>
Sri Lanka's lingerie secrets unveiled by top exporter
Daily Mirrir / Monday, January 21, 2008
Jan 18, 2008 (LBO) - MAS Holdings, a top Sri Lankan clothing exporter,
has revealed how it developed manufacturing and supply chain skills
and branding savvy over 20 years to make the island a lingerie and
sportswear hub.
The first ten years in the journey that led to it becoming a supplier
for brands like Victoria's Secret were spent on bringing manufacturing
expertise to MAS through joint ventures with international companies,
its chairman Mahesh Amalean said. More>>
Sri Lankan Equity Performance from an International Perspective
Daily Mirrir / Monday, January 21, 2008
Last year was an unusual year for the equity market, seeing the market
fall even in the face of some of the strongest net foreign buying
on record. It was also a year in which the market fell, in the midst
of an overall very strong performance in the emerging markets assets
class. More>>
Bartleets Weekly Tea Market Report:
Kenyan crisis may boost Lankan tea demand
Daily News / Monday, January 21, 2008
The quantity of tea arriving at the Colombo Auction upto January 16 rose to 6.302mkg as compared to 6.124 mkg in the previous sale which too was a higher amount compared to the previous sales.
Ex-estate crops also increased from 0.878mkg to 0.905mkg as compared with last week.
Market Segments: On the Ex Estate market segment across the board
BOP teas were Rs.5 to 10 dearer whilst better liquoring BOP fanning’s
were firm. Below Best and poor sorts were Rs.5 to 10 lower. CIS and
Japan were active. More>>
Pakistan takes over SAARC chamber presidency
Sunday Times / Sunday January 20, 2007
The 41st and 42nd Executive Committee Meetings of the SAARC Chamber of Commerce and Industry (SCCI) were held in New Delhi last week.
The 41st and 42nd EC Meetings of SCCI were significant occasions as these marked 14 successful years of the establishment of SCCI. For the first time in SCCI’s history, one full presidential cycle of rotation between the SAARC countries is completed and the seventh presidential term of SCCI came to an end. More>>
Marketing in turbulent times
Sunday Times / Sunday January 20, 2007
Turbulent times have come to stay, must be factored in marketing plans of companies and they are filled with opportunities, says the head of one of Sri Lanka’s top advertising agencies.
Thayalan Bartlett –CEO JWT Sri Lanka, speaking at a recent LBO-CMO on ‘Marketing in the age of turbulence’ in Colombo, says there is too much negativism in business and that is why ‘we are feeling the hard times.’ More>>
UN Global Compact’s Sri Lanka Network launches Best
Practice Book
Sunday Times / Sunday January 20, 2007
UN Global Compact’s Sri Lanka Network launched “Globally Positioning Sri Lanka’s Best” a booklet showcasing 5 Best Practice case studies of Sri Lankan companies. More>>
Osu Govi to export herbal products
Daily News / Friday, 18 January 2008
SHIRAJIV SIRIMANE
A limited liability company has been formed to export Sri Lankan herbal products to the international market. The company will also supply herbal products to local pharmaceutical companies in a more organised manner.
Chairman of the newly formed Osu Govi herbal products company Nalin
Attanayake said its first board meeting was held recently. The Treasury
holds 51 per cent of the company while farmers and employees account to
the remaining shares. More>>
Contraction in earnings from key industrial exports:
Daily News / Friday, 18 January 2008
Decline in export earnings
Earnings from exports declined by 5.1 per cent in November 2007, year-on-year, to US dollars 591 million following the expansion of 18-19 per cent in the two preceding months.
This decline in export earnings could be attributed to a
contraction in earnings from key industrial exports including garments and
textiles, rubber products, and diamonds and jewellery, the Central Bank
said. Industrial exports declined by 13.8 per cent with garments and
textiles, which constituted 40 per cent of the total exports, declining by
12.9 per cent. More>>
Rice imports to bring down prices
Daily News / Friday, 18 January 2008
Rohan Mathes
As a short-term measure to push down the escalating rice prices, President Mahinda Rajapaksa has directed the Government to import an adequate quantity of rice.
Presiding at a meeting with mill owners, wholesale sellers and rice importers at Temple Trees yesterday, President Rajapaksa also directed the authorities to release around 19,000 metric tons of rice stocked in Government and private warehouses. More>>
SAARC – SCCI aim regional ties
Daily News / Thursday, 17 January 2008
The SAARC
Chamber of Commerce and Industry (SCCI) is an apex regional organization
and an avid representative of the private sector which aims to create
regional economic cooperation in the SAARC region, that is recognized by
all the governments of SAARC member countries.
SCCI was established in 1993 with the agenda to enhance regional and economic cooperation in the SAARC region. Since its inception, SCCI. More>>
CCC to showcase Sri Lanka at Partnership Summit 2008
Daily News / Thursday, 17 January 2008
The Ceylon Chamber of Commerce, along with the Board of Investment
and Sri Lanka Tourism leads a delegation to the Partnership Summit 2008,
the flagship international event of the Confederation of Indian Industry
(CII).
Three Sri Lanka Government ministers; Dr. Sarath Amunugama,
Professor G.L. Peiris and Milinda Moragoda are expected to participate at
this event, taking place from January 16-18, along with recently appointed
Ambassadors of Tourism, Aravinda De Silva and Arjuna Ranatunga. This
year’s summit is held under the theme ‘Emerging Consensus: inclusive and
sustainable development’, and takes place at Hotel Crowne Plaza, Gurgaon,
India. More>>
Goods and supply of goods - Determination of standards and specifications
Daily News / Thursday, 17 January 2008
The Consumer Affairs Authority may for the purpose of protecting the consumer and ensuring the quality of goods sold or services provided, by Notification published in the Gazette, from time to time, determine such standards and specifications relating to the production, manufacture, supply, storage, transportation and sale of any goods, and to the supply of any services. More>>
SCCI meetings held in New Delhi
Daily News / Thursday, 17 January 2008
The 41st & 42nd Executive Committee Meetings of the SAARC
Chamber of Commerce and Industry (SCCI) were held in New Delhi, India on
January 13.
The SAARC Chamber of Commerce and Industry (SCCI) is the
apex regional organization and an avid representative of the private
sector which aims to create regional economic cooperation in the SAARC
region that is recognized by all the governments of SAARC member
countries. SCCI was established in 1993 with the agenda to enhance
regional and economic cooperation in the SAARC region. Since its
inception, SCCI. More>>
CIC invests Rs. 50m on tissue culture lab
Daily Daily / Wednesday, January 16, 2008
Hiran H. Senewiratne
in Pelvehera
CIC Agri-Business Centre will invest Rs. 50 million on their tissue culture laboratory to produce plants for the local and export market.
Assistant General Manager (Production) of CIC Agri-Business Priyanga Dematawa told the Daily News Business, that the tissue culture laboratory is one of the most modern labs in the country that produces high quality plants. More>>
Gearing up for IMEXPRO
2008
Daily Daily / Wednesday, January 16, 2008
Organisers of IMEXPRO 2008 is finalising arrangements for this event. 'IMEXPRO 2008' is organised by the Ceylon Chamber of Commerce in association with the Ministry of Foreign Affairs, The Ministry of Trade, Marketing Development, Co-operatives and Consumer Services, The Ministry of Export Development and International Trade, The Board of Investment of Sri Lanka, The Export Development Board and the SriLankan Airlines Ltd.
With trade delegations from Canada, India, Indonesia, Italy, Jordan, Malaysia, Nepal, Oman, Pakistan, Saudi Arabia, Singapore, South Korea, The Maldives, UAE and USA confirmed as participants, and several more in the process of registering, the organisers are keen to see as many local and foreign participants make use of this opportunity to promote their products and services. More>>
Importers want duty waiver on rice imports
Daily Mirror / Wednesday, January 16, 2008
By
Uditha Jayasinghe
The forecast for cost of living continues to be gloomy for the next three months with rice, dhal, wheat flour and canned fish increasing by 15% this month, prompting importers to send a letter to the President requesting immediate intervention to waive import duty on rice.
The Essential Food Commodities Importers and Traders Association (EFCITA) emphasized that world market prices for red split lentils, wheat flour, yellow split peas, sugar and canned fish would increase by 15% this month or at best remain at the current prices. According to them rice prices will not reduce significantly till March when the harvesting gets in full swing. A situation worsened by floods that hit key paddy producing areas late last year, inadequate storage facilities and government bans on rice imports. Currently each kilo of rice must be paid a import duty of Rs.20. More>>
Lankan piling company for joint venture in Qatar
Daily News / Wednesday, January 16, 2008
Walkers Piling Ltd will join the second construction industry trade mission to Qatar to establish a joint venture with Qatari enterprises.
This venture will provide ground engineering services specialising in concrete Bored Cast-in-situ piles. The company is an associate company of Walker Sons & Co. Ltd, an engineering enterprise established in Sri Lanka under British ownership. More>>
A first for Sri Lanka:
CIC exports country rice to USA
Daily News / Monday, 14 January 2008
Shirajiv SIRIMANE
For the first time in the history of agriculture in Sri Lanka, CIC Agri Business will export country rice to USA. An initial order for three containers of rice has already been placed and the quantity would be exported next month.
CIC, a 100 per cent locally owned company is already exporting various varieties of rice to Europe and this will be the first time that the company is exporting country rice to the US market.
According to Assistant General Manager - Production of CIC Agri Businesses Priyanga Dematawa at Pelwehera in Dambulla, the company had received many international inquiries for rice. “However, we were not in a position to export as we did not have our own rice mill,” he said. More>>
Pakistan Export Strategy on track – Govt. commends MTI
Daily Mirror / Monday, 14 January 2008
In Sri Lanka for the single country trade exhibition of Pakistan at the BMICH, the Pakistan Federal Minister of State and Chief Executive of the Trade Development Authority of Pakistan. Tariq Ikram (former CEO of Reckitts) is upbeat on the prospects of Pakistan exports and is confident that the current strategy /organization development of TDAP (with MTI advice) will lead to a quantum leap in Pakistan exports. More>>
Brandix the first to embark on Lawson Fashions
Daily Mirror / Monday, 14 January 2008
Brandix Lanka has become the first company in Sri Lanka to
embark on Lawson Fashions, an Enterprise Resource Planning (ERP)
implementation to support the complexities of business needs.
“The
strategy is to spread a common business practice for subsidiary companies
and a plan to be followed by everyone,” Brandix Lanka Head of Group
Information and Communication Technologies Hiranya Gunasekera told the
Daily Financial Times in an interview. More>>
Tea Surveillance Report upto January 9:
Daily News / Monday, 14 January 2008
Tea arriving Colombo auction rises
Breaking the six million kilo barrier for the first time in a month, the quantity of tea arriving at the Colombo Auction rose to 6.124mkg as compared to the 5.808Mkg in the previous sale.
Ex-estate crops increased too from 0.869mkg to 0.878mkg as compared with last week.
Market segments: On the Ex Estate market, across the board Rs. 5 to 10 were dearer whilst CTC low grown maintained fairly lower levels and high grown were firm.
Due to the Kenyan crisis the market moved up as to few inquiries
from Kenyan buyers. More>>
Pakistan trade show opens in Colombo
Sunday Times / Sunday January 13, 2007
Highlighting vibrancy and excellence, the 3-day Pakistan trade exhibition, probably the largest by that country to be held in Colombo opened at the Sirimavo Bandaranaike Exhibition and Convention Centre on Friday. The aim of the exhibition is to diversify the existing patterns of bilateral trade between the two countries, said Pakistan High Commissioner in Sri Lanka Shahzad A. Chaudhry at the opening ceremony. He disclosed that trade between the two countries has increased from US$146 million in 2003-2004 to US$264 million in 2006-2007 with exports from Pakistan doubling from US$97.8 million to 200.7 million during the same period. He asserted that the FTZ with Sri Lanka, Pakistan’s first ever agreement of this nature, has continued to provide good dividends. More>>
Sri Lanka for international trade, but domestic concerns will not be compromised
Sunday Times / Sunday January 13, 2007
By Dilshani Samaraweera
Sri Lanka is for international trade but domestic concerns like food security and rural job security will not be compromised for trade, said Sri Lanka’s International Trade Minister .
“As far as Sri Lanka is concerned, our position at the World Trade Organisation is that we need some protection for food security, livelihood security and rural development. More>>
CCC introduces Trade Point Colombo
The Island / Friday, 11 January 2008
Trade Point Colombo, hosted by the Ceylon Chamber of Commerce (CCC), was granted status as a fully operational trade point and the right to operate as a member of the World Trade Point Federation (WTPF) at the recently held VIII General Assembly Meeting of the World Trade Point Federation in Jordan.
The Ceylon Chamber of Commerce, in its drive towards facilitating international trade, is pleased to introduce this new gateway to going global and is looking forward to its success.
Trade Point Colombo hosted by the Ceylon Chamber of Commerce is the local gateway to the global Trade Point Network.
Users of the Trade Point Network are able to access information on other Trade Points located worldwide, find business partners online, post offers to buy and sell in the Electronic Trading Opportunity (ETO) system and receive responses from all over the world. Members of Trade Point Colombo are offered many membership privileges, amongst which is the opportunity to advertise company products on the Global Trade Directory System (GTDS) and find business partners from all over the world. More>>
Workshop on ‘Customs Valuation’
The Island / Friday, 11 January 2008
The International Trade Centre (ITC), Geneva, in cooperation with the Department of Commerce of Sri Lanka and the Ceylon Chamber of Commerce and with the support of the European Commission, is organizing a one-day workshop on Customs Valuation on January 24, 2008.
The workshop will be conducted by Stéphane Le Roy, who is an international legal expert on the WTO Customs Valuation Agreement and who currently practises in a renowned international law firm in the field of Customs and Excise Litigation. Participation at the workshop is on prior registration only and priority will be given to senior private sector officials from companies involved in import/export.
The workshop will give a rare opportunity to the trading community to learn about Customs Valuation from an international expert.
He will explain in detail the methods used by Sri Lanka Customs and other Customs authorities of all WTO member countries in determining the value of imported goods. The trading community will know when and on what grounds the Customs authorities can reject the declared value of the goods and once rejected what methods they will use to arrive at a new transaction value. More>>
Nepal to set up SAARC Food Bank
Daily News / Friday, 11 January 2008
The Nepali Parliament has endorsed the intergovernmental agreement to establish the South Asian Association for Regional Cooperation food bank, local media reported.
According to a nepalnews.com report, the minister for industry, commerce and supplies, Shyam Sundar Gupta, had presented a proposal for Parliament’s approval to the agreement, which was passed recently by the Cabinet.
The agreement to establish SAARC food bank was adopted by the SAARC during its 14th summit held in New Delhi in April last year.
The food bank will act as a regional food security reserve for the SAARC member countries during normal time food shortages and emergencies, and provide regional support to national food security efforts, foster inter-country partnerships and regional integration, and solve regional food shortages through collective action. More>>
VAT
on imported palm oil reintroduced
Daily News / Friday, 11 January 2008
The Government has reintroduced the 15 per cent VAT on imported palm oil to protect the local coconut oil industry following steps to increase coconut production in the country.
The Government earlier abolished the 28 per cent import duty and 15 per cent VAT on palm oil imports in December to prevent an escalation in prices of coconut products following the sharp drop in the coconut harvest in 2007.
The total coconut oil production in 2007 was 70,000 metric tons and steps have been taken to increase this to 100,000 metric tons this year, said Coconut Development Board Chairman Dr. Jayantha Gunatilleke. More>>
CCC obtains trade point operational status
Daily Mirror / Thursday, January 10, 2008
Trade Point
Colombo become local gateway to going global
At the recently held VIII General Assembly Meeting of The World Trade Point Federation in Jordan, Trade Point Colombo hosted by The Ceylon Chamber of Commerce was granted operational status as a fully operational trade point and the right to operate as a member of the World Trade Point Federation (WTPF).
The World Trade Point Federation (WTPF) based in Geneva is an international non-governmental, non-profit organization established in 2000. With its origins in an innovative trade efficiency programme initiated by UNCTAD (United Nations Conference on Trade and Development), the main goal of the Federation is to increase the participation of small and medium enterprises in international trade through its network of more than 120 Trade Points located in over 90 countries across continents, making use of electronic commerce technologies. More>>
Call for setting up network of associations for leather industry
The Island / Thursday, January 10, 2008
The country should have a proper network of associations and societies which represents the entire district, regional, provincial and national footwear and leather product producers in order to strengthen and sustain the local industry, said Industrial Development Board (IDB) sources. More>>
Asian Business Forum 2008
Sri Lanka to meet Asia’s
marketing ‘greats’ to discuss burning issues
The Island / Thursday, January 10, 2008
The Asian Marketing Federation (AMF) and Sri Lanka Institute of Marketing (SLIM) will bring together three marketing ‘greats’ in the region to disseminate their experiences and expertise in areas of marketing theory and best practices for executives in the public and private sectors. More>>
German Chamber President satisfied with FCCISL Partnership
Daily Mirror / Thursday, January 10, 2008
The President
of Germany’s Handwerkskammer Koblenz (Chamber of Crafts),Karl-Heinz
Scherhag, recently visited the Federation of Chambers of Commerce and
Industry of Sri Lanka (FCCISL) to discuss the progress of the two
organisation’s joint activities in the fields of handicraft promotion,
support for small and medium-sized enterprises and vocational training.
Mr. Scherhag, himself an experienced businessman and former MP, showed
himself pleased with the partners’ achievements. During a visit to the
Handwork Centre, Kalutara he noted the high-quality facilities and
sensible industry-oriented training concepts of the centre. More>>
GSP concessions to benefit footwear exporters
Daily News /Wednesday, 9 January 2008
Ramani Kangaraarachchi
Footwear manufacturers in the country are working together to give a better product to their customers at a reasonable price as a result of the new import tax considered as a safety net.
Chairman Footwear Advisory Council Rangith Hettiarachchi said the Rs. 300 tax imposed on every pair of imported shoes from the budget was a boon and therefore shoe manufacturers have an obligation to supply better products to their local customers.
He said a number of measures have been taken with the help of Industrial Development Board, Export Development Board and the Ministry of Industrial Development to protect and upgrade the industry. More>>
Asian Business Forum on 26
Daily News /Wednesday, 9 January 2008
Anjana Samarasinghe
The Asian Business Forum (ABF) 2008 organised by the Asia Marketing Federation AMF in association with the Sri Lanka Institute of Marketing SLIM will be held on January 26 at Water's Edge Sri Jayawardenepura.
Project Chairperson ABF 2008 Kanthi Basnayake said that main objective of organising the forum is to launch the restructured AMF in Sri Lanka and position SLIM as a leader in professional marketing development. More>>
Starch production for industry from local rice varieties
Daily News /Wednesday, 9 January 2008
This is the sixth of the series of research articles submitted by University of Moratuwa at the 13th Symposium held in October last year.
As Sri Lanka is a major rice producer the researcher recommends to introduce this as an industry and to follow it up with value added industries to benefit both the farmer and the consumer. More>>
Tea with Mohamed Niyas, MD/CEO Serendib Trade Logistics
Daily News /Wednesday, 9 January 2008
Hiran H. Senewiratne
Sri Lanka should develop non-vessel operating functions in ports out of Colombo to avoid congestion. It would attract the Port to be among emerging economies like India and China, Managing Director/CEO Serendib Trade Logistics Services (Pvt) Limited Mohamed Niyas said.
He said these
two countries are growing at an average of 10 per cent for a year.
Therefore, international trade is also developing at a rapid pace. Sri
Lanka should grab opportunities because of the strategic location, by
developing non-vessel operating activities in the Port. More>>
The South Asian Countries’ Commodity Fair 2007 in Beijing, China
Daily Mirror /Wednesday, 9 January 2008
Ministry of Export Development and International Trade Secretary
S.Ranugge called on the Vice Minister of Commerce of China and discussed
bilateral matters and ways to increase of exports from Sri Lanka. Mr.
Ranugge thanked the Government of China for this gesture of promoting
imports form SAARC countries in order to reduce the trade deficit. Sri
Lanka has come to the exhibition to display a variety of exportable items
ranging form agriculture based products to industrial exports. He invited
the Chinese businessmen to invest in South Asia. More>>
MAS Holdings Kandurata maintain unbeaten streak with win over Hirdaramani Ruhuna
Daily Mirror /Wednesday, 9 January 2008
By M. Shamil Amit
MAS Holdings Kandurata maintained their unbeaten record as they cruised through to a 43 run win over Hirdaramani Ruhuna who succumbed to their third straight defeat in the inter-provincial cricket match played under floodlights at the R. Premadasa Stadium yesterday. More>>
Brand acquisition Forum to be held in Singapore
Daily Mirror /Wednesday, 9 January 2008
Brand Finance plc, the world’s leading independent intangible asset
valuation and brand strategy firm, is planning its third international
forum for the year, in Singapore at the end of March, under the theme
‘Making successful brand acquisitions in Asia Pacific.’
The
presentations will cover topics such as How to capture winning deals in
emerging markets?, How to identify underperforming brands, Are you paying
too much or too little?. The issues that will be covered will include
pre-deal identification of target opportunities to post-deal exit
strategies. More>>
High demand for Lankan tea this year
Daily News / Tuesday, 8 January 2008
Hiran H.Senewiratne
The demand for Sri Lankan tea this year would increase from Commonwealth of Independent States (CIS) countries and Middle-Eastern markets, industry sources said.
There will be strong demand for Sri Lankan tea in the first two months of this year as a result of world's largest tea exporter Kenya experiencing civil riots.
As a result of this, movement of goods especially tea and other goods have been restricted, Vice President Asia Siyaka Dinal Fernando said. More>>
Laugfs ventures into solid tyre market
Daily News / Tuesday, 8 January 2008
SHIRAJIV SIRIMANE
Laugfs Gas Holdings will invest a further Rs. 800 million to enter the international solid tyre market this year.
"There is growing global demand for solid tyres and this was the reason for us to enter this market," said Chairman Managing Director Laugfs, W. A. Wegapitiya said.
First on the pneumatic tyre portfolio in Sri Lanka was Laugfs Colt, a 4.00x8 small pneumatic tyre with a 425kg at 425KPa (60RSI) and flexible sidewalls designed and manufactured for three-wheelers. "This has proved to be a major success and we commend a high market share," he said. More>>
Sri Lankan curbs cause severe coconut shortage in UAE
Daily News / Tuesday, 8 January 2008
A voluntary
restriction by Sri Lanka on exports of coconuts has led to an acute
shortage in the UAE market.
This has led to rationing of coconuts by supermarkets and hypermarkets in the UAE with prices expected to go up in the next two weeks.
"The restrictions temporarily put in place to cater to the country's domestic need. "The price of coconuts in Sri Lanka has gone up. The crop produce is once in two months, December and January are off peak seasons whereas May is the peak season for the crop," Sri Lankan Consul General, Wasantha Senanayake said. More>>
Pakistan looks to up investments from Sri Lanka
Daily Mirror / Tuesday, 8 January 2008
By Damayanthi Hewamanna
Pakistan looks to increased Sri Lanka investments through the Pakistan trade exhibition that is to kick off at the BMICH from the 11 to the 13 January.
The Pakistani High Commissioner Dr. Shahzad A. Chaudhry said that this would provide a unique opportunity for the prospects of establishing increased investment both from Sri Lanka to Pakistan and vice versa. More>>
Best and the brightest should lead Lankan business
Daily Mirror / Tuesday, 8 January 2008
Highlights of speech delivered by Dinesh Weerakkody
Managing Director Cornucopia Lanka on the Human Resource Challenges for
Sri Lanka at the The Future Work Force Skills MBA Alumina Seminar
UK.
Sri Lanka’s economic outlook in 2007 was dampened by the high oil prices, high inflation and the disruption caused by the hostilities in the North East. Moving forward, if the government is able to work closely with the main opposition and offer a durable solution to the North East conflict with the support of the international community, 2008 could be a year of significantly improved business opportunity. More>>
Concern over increase in investment protectionism
Daily Mirror / Tuesday, 8 January 2008
Cross-border inv- estment and openness of markets to receive such investment are essential to sustaining economic progress and stability in developed and developing countries.
The benefits of foreign investment and open investment regimes have
also being recognised by governments and enshrined in various
intergovernmental instruments such as the organisation for Economic
Co-operation and Development's Declaration on International Investment and
Multinational Enterprises. More>>
Looming uncertainty hovers over apparel industry
Daily Mirror / Tuesday, 8 January 2008
By Ravindu Peiris
The looming recession in the US and the uncertainty of obtaining EU trade concessions would result in the apparel industry being severely hit this year. “An issue we might face in 2008 is the recession looming in the USA and the problem of expanding there and also the uncertainty of achieving the EU trade concessions” Joint Apparel Association Forum (JAAF) Chairman Ajith Dias told the Daily Financial Times yesterday. He revealed that there is a massive issue whether Sri Lanka will receive trade concessions from the European Union (EU). More>>
FTA doubles Lanka-Pakistan trade - Ambassador
Daily News / Monday, 7 January 2008
Maalik AZIZ
Since the Sri Lanka-Pakistan Free Trade Agreement (FTA) became operational in 2005, trade between the two countries has doubled during the last few years, said the High Commissioner for Pakistan Shahzad Chaudhry. “After the FTA was signed, trade between the countries has increased from US $ 170 million in 2005 to US $ 270 million in June 2007,” he said.
The Pakistan trade fair will be held from January 11 to 13 at the BMICH. There will be around 100 Pakistani companies in 25 sectors that will be on offer at the trade fair from textiles, leather garments, surgical instruments, pharmaceuticals, chemicals, cosmetics, auto and auto parts. More>>
Sri Lanka strengthens trade ties with China
Daily News / Monday, 7 January 2008
During the three-day Trade Exhibition in China the Sri Lanka delegation had the opportunity of meeting with the Gao Hucheng the Vice Minister of Commerce and the other high officials of the Chinese Ministry of Commerce which has brought forth many tangible results for enhancing economic relations between the two countries.
As a first step to the requests made by the Sri Lanka delegation a new initiative was proposed by Sri Lanka for annual bilateral consultations between the officials of the Department of Commerce and counterparts in the Chinese Ministry of Commerce at the Director General level in providing a platform to address issues of concerns and strengthen the existing relations. More>>
Sri Lanka, India strike deal on tea exports
Daily Mirror / Monday, 7 January 2008
Sri Lanka and India have reached agreement on improving access for
the country's exports like tea to the Indian market but have yet to
conclude a deal on trade in services, trade officials said.
The latest
round of talks between the two neighbours on a new trade deal ended in
Colombo Friday with both sides agreeing on the draft text of the agreement
which will now be sent for legal vetting.
"We more or less cleared the text of the agreement," said Manel de Silva, Sri Lanka's director general of commerce. More>>
Rubber, a unique crop: needs unique management strategies
Daily Mirror / Monday, 7 January 2008
By Dr. N. Yogaratnam, Consultant / NIPM
The Rubber tree or Hevea brasililiensis, originates from the Amazonian equatorial forests and would generally appear to conform somewhat normally to other such tree types. But, the harvested crop, latex, which contains the economic crop, the rubber hydrocarbon is unique. Surprisingly, only a few have commented on the unique nature of the latex crop in comparison to other crops or have explicitly considered this as a major factor in management. More>>
A look back at the 2007 market:
Daily News / Monday, 7 January 2008
Inflation to decline in January
After 6 years of healthy returns, market dipped in 2007 with All Share Price Index (ASPI) losing 6.8% for the year.
The escalated unhealthy situation in North and East, high interest rates and inflation in the economy, slowdown in the economy can be mainly attributed to the poor performance of the market in 2007. More>>
CIC grows rice varieties for niche market exports
Sunday Times /Sunday January 6, 2008
By Bandula Sirimanna
All is not lost for agriculture in this country with some top private companies like Chemical Industries (Colombo) Ltd (CIC) and Cargills (through Food City chain) making giant strides to show that this sector can generate profits.
CIC’s R & D division, the first of its kind in a Sri Lankan firm, is currently conducting experiments at its paddy fields at Hingurakkgoda and Pelwehera (Dambulla) to grow indigenous varieties of rice aimed at churning out high quality yielding, export products for niche overseas markets. The company already exports fruits (bananas) and vegetables to the Middle East and it has received orders from the US as well. More>>
CCI invites furniture vendors to join trade mission to Qatar
Sunday Times /Sunday January 6, 2008
The Chamber of Construction Industry Sri Lanka which pioneered the promotion of export of construction related professional services and construction capacities this week invited vendors of furniture and fittings and accessories and landscape architects to join its second trade mission from February 8 to 14 to Qatar.
“This invitation is extended in view of the heavy demand for such
goods and services that have been identified consequent to a needs
assessment carried out by the chamber,” the chamber said. More>>
New Year hammers record price at Colombo Tea Auction
Daiy Mirror / Friday, 4 January 2008
An
all-time high of Rs.365 was recorded at the Colombo Tea Auction this week,
the first trading week in the New Year, Lanka Commodity Brokers Ltd.
stated. The price was recorded by Kehelwela Estate for an invoice of the
Dust 1 grade for which several largebuyers including multinationals were
actively bidding. It was eventually sold to Ceylon Tea Marketing
Ltd.
The Kehelwela Estate is one of the finest Low Grown Plantations
and owned by the renowned Orthopedic surgeon Dr. Rienzie Peiris, who gets
personally involved with offering advice in the manufacturing process. The
sale of all Kehelawela Teas is handled exclusively by Lanka Commodity
Brokers Ltd. More>>
Lanka placed 92 in Logistics Performance Index
Daiy Mirror / Friday, 4 January 2008
Ramani Kangaraarachchi
Sri Lanka has been placed 92 in the Logistics Performance Index (LPI) ranking carried out with World Bank funding in November last year.
The index gauges each country’s logistics effectiveness based on a survey of 800 global freight forwarders and express carriers in the international freight sector. More>>
New Ceramic Council Committee
Daiy News / Friday, 4 January 2008
Chairman/Managing
Director of Midaya Ceramic Dayasiri Warnakulasooriya was re-elected as
President of the Sri Lanka Ceramics Council, at its fifth annual general
meeting held in Colombo recently. Warnakulasooriya, has 40 years of
experience behind him and has been at the helm of his Company since its
inception in 1968. More>>
ACFA Sri Lanka goes international
Daiy News / Friday, 4 January 2008
The Head of Customs Brokers, Associations of Australia, China, India, Korea, Japan, the Philippines and Sri Lanka as members of the Federation of Asia-Oceania Customs Brokers, Associations, FAOCBA, met in Yokohama, Japan, recently at a meeting chaired by Executive Director of Customs Brokers and Forwarders Council of Australia, Stephen Morris.
It is the first seminar for FAOCBA members to join together and discuss mutual concern of Customs Brokers business, which was jointly, initiated by Japan Customs Brokers Associations Hideo Hirose and China Customs Brokers Associations Huang Rufeng. More>>
Export income of US$ 8.6 b targeted for 2008
Daily News / Thursday, 3 January 2008
The export sector in Sri Lanka makes a contribution of 28% to the Gross Domestic Product (GDP) and has the ability to expand annually by 8% while creating more job opportunities, helping eradicate poverty and lessening the inter-provincial income disparities.
With that in mind, several tax concessions along with other forms of assistance were offered within the year with a view to create an export-friendly economic atmosphere.
The Sri Lanka Export Development Board (EDB) spearheading the export development and promotion in Sri Lanka has undertaken several sector-specific programmes under the guidance of Minister of Export Development and International Trade Prof. G.L. Peiris. More>>
Host of opportunities for Sri Lanka exporters at South Asia Commodity Fair
Daily Mirror / Thursday, 3 January 2008
A record number of participants totalling 53 enterprises/companies
displayed their products at the Sri Lanka pavilion during the first ever
South Asia Commodity Fair, which was held from 28th to 30th December 2007,
at the Beijing Exhibition and Convention Center attracting a whole host of
opportunities for Sri Lanka exporters to penetrate the Chinese market.
Many positive responses were yielded during the three days of the
exhibition with tangible business transactions secured. Good opportunities
were presented in sectors such as cosmetics, handlooms, arts and crafts,
gems and jewellery, beverages etc. More>>
Construction Chamber facilitates trade mission to Qatar
Daily News / Thursday, 3 January 2008
Ramani Kangaraarachchi
The Chamber of Construction Industry Sri Lanka (CCI) will facilitate the visit of the second trade mission to Qatar during the second week of February.
This is consequent to the satisfactory results by members of the delegation who visited Qatar during November 2007 and in view of the prevailing high demand for professional services and contracting capacities from Sri Lanka, Secretary General CCI Dakshitha Talgodapitiya said. More>>
2008 GDP growth to reach 7 per cent
Daily News / Thursday, 3 January 2008
Sri Lanka's 2008 economic growth is estimated at 7 per cent while annual inflation is expected to be brought down to 10 to 11 per cent by end of this year, the Governor of the Central Bank said yesterday.
"The economy is expected to ... grow by 7 percent in 2008," Governor Ajith Nivard Cabraal told a news conference, releasing the Central Bank's 2008 policy announcement. Consumer prices in December were 18.8 percent higher than a year earlier, while the 12-month moving average on a recently introduced index was 15.8 percent. More>>
Agriculture export earnings to cross the Rs. 4 b mark:
Export sector performs well in 2007
Daily News /Wednesday, 2 January 2008
Ramani Kangaraarachchi
The export industry of the country has performed extremely well in 2007 with outstanding results.
The total exports in the country during the first half of the year has recorded US $ 3568 million which is a growth of 12.86 per cent.
Sri Lanka also had a very good year in the agricultural sector. According to Chairman National Agribusiness Council Sarath De Silva total agriculture export earrings increased by 16 per cent last year. More>>
Opportunities for Lankan exporters at Beijing Fair
Daily News / Wednesday, 2 January 2008
A record
number of 53 entrepreneurs displayed their products at the Sri Lanka
pavilion at the first ever South Asia Commodity Fair, held from December
28 to 30 at the Beijing Exhibition and Convention Centre attracting a
whole host of opportunities for Sri Lanka exporters to penetrate the
Chinese market.
Many positive responses were yielded during the three days of the exhibition with tangible business transactions secured. Good opportunities were presented in sectors such as cosmetics, handlooms, arts and crafts, gems and jewellery, beverages. More>>
Gem and jewellery sector sparkles
Daily News / Wednesday, 2 January 2008
Anjana Samarasinghe
The local gem and jewellery sector performed well last year and are confident of surpassing set targets for last year.
A senior official of NGJA told Daily News Business they are in the process of compiling the December statistics.
In 2007 we targeted Rs 50 billion through gem and jewellery sector and and industry is confident on surpassing this target. More>>
Grassroot innovation for agri-business development
Daily News / Wednesday, 2 January 2008
This is the fifth of the series of research articles submitted by University of Moratuwa at the 13th Symposium held in October this year.
This article describes the findings of a study on “Grassroot
innovation “carried out by Bhadranie Thoradeniya at the Division of
Construction Management of the Department of Civil Engineering, University
of Moratuwa, as a part of her research thesis. More>>
Business Challenges 2008 and beyond - are you geared?
Daily News / Wednesday, 2 January 2008
BIRC Power, Cross-Border Opportunities & Rising Inflation
* Economic might and dynamics as we know them historically will never be the same again. Come 2008, financial power and drive will lie in places outside of the traditional geographies such as North America, Germany and Japan.
Rather, the growth engines of the world economy will centre around these four BRIC nations: Brazil, Russia, India and China, all of whom will continue to see healthy GDP growth.
* Feeding this appetite for growth means unprecedented demand for commodities to feed and house the millions of consumers that are moving away from the poverty line and towards a better life. In many developing countries, food purchases account for as much as 70 per cent of family income. More>>
SL Gems and Jewellery to hit International Exhibitions
Daily Mirror / Wednesday, 2 January 2008
By Ravindu Peiris
Sri Lankan Gems and Jewellery are set to be exhibited internationally in order to encourage exports. In this respect the Sri Lanka Gems and Jewellery Authority (SLGJA) has taken measures in holding an exhibition in January in Tokyo, Japan as well as the intended exhibitions in February and March to be held in Bangkok, Thailand.
The main objective of this step will be to encourage the local exports of gems and jewellery as well as to promote the local gems in foreign countries. More>>
High demand for black tea in Japan
Daily News /Tuesday, 1 January 2008
Ramani Kangaraarachchi
Japan has imported eleven million kgs of Ceylon tea amounting to Rs. 3.6 billion in year 2007.
Eight Sri Lankan tea importers in Japan were honoured by the Tea Promotion Unit of the Sri Lanka Tea Board at a mega promotion event held at Tokyo Hilton in Japan recently.
Chairman Sri Lanka Tea Board Lalith Hettiarachchi said Sri Lanka received a good price for tea in Japan throughout the year and it was a great achievement for the country. More>>
Overcoming the coconut industry crisis
Daily News /Tuesday, 1 January 2008
Denzil Aponso
The escalation of the edible coconut prices is a topic for discussion. It is reported in the media that the price of a coconut is around Rs. 35.00 in Colombo and would soon soar to higher levels.
The Coconut Research Institute predicts the production of coconuts for 2007 to be 2900 million, up from the year 2006 yield of 2600 million. More>>
DSI teams up with Tri-Star
Daily News /Tuesday, 1 January 2008
DSI has teamed
up with Tri-Star Apparels, a leader in the garment sector to provide a
range of school uniforms from grades 1 to 13 Deputy General Manager -
Marketing, of DSI, Rohan Somawansa said.
Tri-Star Apparels produces many garments for international giants like Marks and Spencer.
Somawansa said, "With their expertise and our experience we make a great team. Currently, we're producing school uniforms for 10 leading girls' schools in Colombo." More>>
Govt. focus required to maintain vibrancy in tea industry - Akbarally
Daily Mirror /Tuesday, 1 January 2008
By Ravindu
Peiris
The government needs to ensure the tea industry is developed into a vibrant sector, a top tea industry official stated yesterday.
“The Government should focus on several areas to make the tea industry a vibrant sector of the economy,” Colombo Tea Traders’ Association Chairman Tyeab Akbarally told the Daily Financial Times.
Elaborating on the issues Akbarally stated that there should be inflation control; grant of fiscal and financial incentives for marketing of value added branded tea products, aggressive promotion of Ceylon Tea particularly in the Middle East and Russia where Orthodox Tea is produced by Sri Lanka and has a great demand. Another urgent measure which should be adopted by the government is the prompt plough back of the Tea Cess revenue for the development of the tea industry. More>>