Archives Trade News
SAFTA: How successful has it been so far?
Sunday Times / Sunday March 23, 2008
The South Asian Free Trade Agreement (SAFTA) signed by the members of the SAARC and implemented in July 2006, has since been a matter of concern for the countries involved, regarding how effective it is in increasing the economic wellbeing of the region in general. When it was initially signed, the goals included forming a common currency for the region and forming a Customs Union (CU) which would eventually lead to Total Economic Integration. More>>
Trade Unions hold special meeting with EU delegation
The Nation / Sunday March 23, 2008
By Samantha Whybrow
Allege GSP benefits not trickling down to workers
Trade
unions have told a visiting European Union (EU) delegation that the
apparel industry is keeping garment workers in poverty by failing
to ensure the industry’s significant profits benefited employees.
The accusation comes amidst growing concern that all important duty
free concessions may not be renewed next year by the EU, hurting the
garment industry deeply. More>>
ICTA enables Laksala into e-commerce
The Nation / Sunday March 23, 2008
The Information & Communication Technology Agency of Sri Lanka [ICTA], in collaboration with the Sri Lanka Handicrafts Board, started the Laksala Automation Project, to provide an ICT solution to the Laksala Head Office, as well as to computerise three of their retail outlets; York Street, Thummulla and Kandy. iOM Lanka (Pvt) Ltd used their Retailigence software solution to enable Laksala’s supplier management, inventory control, distribution management, sales automation, statistical and trend analysis and provide management information reports, all via ICT. More>>
CCC commends US$ 1 billion achievement of tea industry
Sunday Times / Sunday March 23, 2008
The Ceylon Chamber of Commerce (CCC) this week applauded the tea industry for reaching over US$1billion in export earnings last year. More>>
Sri Lanka enters global construction industry
First project in Qatar next month:
Daily News / Wednesday, 19 March 2008
Mohammed Naalir
Construction and Engineering Services Minister Rajitha Senaratne said the time is ripe for Sri Lanka to enter the international construction industry. The luxury housing project in Qatar is the initiative step, he said.
Nearly 1,600 persons including engineers, architects, surveyors and planners will leave for Qatar shortly, he said. More>>
Khomba launches herbal baby’s exclusive gift pack
Daily Mirror / Wednesday, 19 March 2008
Sri Lanka’s pioneer herbal-based personal care products company Swadeshi Industrial Works has launched an attractive ‘Baby Gift Pack’ of its popular Khomba Baby range, becoming the first company in the sector to introduce a Herbal ‘Baby Gift Pack’ to the local market. More>>
Pioneering market research company gets Business Superbrand status
Daily Mirror / Wednesday, 19 March 2008
LMRB, which is the pioneer in the field of market research in Sri Lanka having set up its operations in 1981 was recently awarded Business Superbrand status by Superbrands Lanka.
The Superbrands programme, which currently operates in over 55 countries acknowledges a variety of categories of brands. The latest programme called Business Superbrands, recognizes those products and services which are directly marketed to other busineses. More>>
Malaysia's Khazanah ASLI appointed MTI Business Partner
Daily News / Wednesday, 19 March 2008
The Malaysian Government's Investment Agency Khazanah's Strategic Leadership Unit has been appointed as a MTI Business Partner, where by Khazanah ASLI have been given the rights to market one of MTI's Solutions in Malaysia and across the ASEAN region Speaking at the press conference in KL last week, MTI's Country Representative for Malaysia Sahan Kulatunga said "We set-up the Malaysian Subsidiary last year and this move with Khazanah ASLI further reflects our confidents of the Malaysian Market". More>>
DHL, ‘Preferred Logistics Partner’ of SLAEA
Daily Mirror / Tuesday, March 18, 2008
DHL, the world’s leading Express and Logistics Company, announced a strategic two-year tie-up with the Sri Lanka Apparel Exporters’ Association (SLAEA) as its ‘Preferred Logistics Partner’. The agreement was inked by DHL Sri Lanka Country Manager Martin Dudek and Chairman of the SLAEA, Noel Priyathilleke. More>>
Remove VAT on coconut oil to level imbalance
Daily News / Tuesday, March 18, 2008
Ramani KANGARAARACHCHI
The Coconut Products Trader’s Association insists the removal of import duty, VAT and Cess on all edible oils including Coconut oil with immediate effect, until end of this year in order to create a level playing field among all the industries to come out from the existing imbalance. More>>
Coconut product exporters seek relief from govt.
Daily Mirror / Tuesday, March 18, 2008
By Sherwani Synon
Speaking at a media briefing yesterday several stakeholders of the coconut export industry said that they have been running at a loss of Rs 1.5 billion in foreign exchange earnings from January to March. More>>
KCL launch two new products
Daily Mirror / Tuesday, March 18, 2008
By Jeevani Pereira
Kelani Cables Limited(KCL) one of the country’s leading electric cable manufacturers yesterday introduced their latest two products ,Submersible Pump Cable and the Kelani Welding Cable.Kelani Cables Managing Director Hemantha Perera speaking at the launch said that the new Submersible Pump Cable and the Kelani Welding Cable would save Rs 150 to 200 million in foreign exchange annually for the country, More>>
Orange Electric wins two Farnell International awards
Daily News / Tuesday, March 18, 2008
Farnell the strategic business unit of OS Projects (Pvt) Ltd, a fully owned subsidiary of Orange Electric was recognised as the international agent for Best Sales growth and Best Marketing initiative at the Farnell Regional distributor conference held at JW Marriot Hotel in Dubai last week. More>>
Sri Lankan health service ahead of South Asian countries
Daily News / Tuesday, March 18, 2008
Nadira Gunatilleke
WHO's latest statistics show that Sri Lankan health sector has achieved remarkable progress in the recent past and is ahead of other countries in South Asia, said Premier Ratnasiri Wickramanayaka. More>>
Lankan products showcased in Beijing
Daily News / Monday, 17 March 2008
A selected number of products such as different varieties of tea, Sri Lankan beverages, spices, handicrafts, spa and cosmetic products as well as a range of jewellery made out of gems, coloured stones of Sri Lanka and diamonds, were showcased during the event organised by the Sri Lanka Embassy in Beijing to celebrate the 60th Anniversary of Independence and 50 years of Sri Lanka-China Diplomatic Relations at the Grand Foyer of China World Hotel on March 3. More>>
Chamber of Small Industry on a Trade Mission to Australia
Daily News / Monday, 17 March 2008
Sri Lanka Chamber of Small Industry have organised a 12 member Trade Mission to Australia visiting Queensland and Tasmania in early April 2008. Aloy Jayawardene President of the Chamber will be leading the mission. More>>
SL and Pakistan help each other in gem trade
Daily Mirror / Monday, 17 March 2008
The governments of Sri Lanka and Pakistan singed a memorandum of understanding where by Sri Lanka agreed to provided technical assistance to develop Pakistan Gem Industry covering all its various fields.As an initial step, the Pakistan High commission in Sri Lanka with the coordination of the Ministry of Petroleum and Natural Recourse of Pakistan and Ministry of Enterprises Development & Investment Promotion of Sri Lanka organized a preliminary study visit of the Pakistan Gem Industry in 2007. More>>
A
Richard Pieris exercise:
‘St Clair’s Tea’ to Russia
Daily News / Monday, 17 March 2008
Chief Operating Officer of Richard Pieris & Company Pravir Samarasinghe, handing over a sample of St. Clair’s Tea to their exclusive distributor in Russia.
St. Clair’s Teas, grown, manufactured, processed and marketed under the management of Richard Pieris & Company has entered the quality conscious, cash-rich massive Russian market recently. More>>
Indian auto industry set to enter Russian market
Daily Mirror / Monday, 17 March 2008
The Indian automotive industry is all set to enter the Russian market now to make its mark against the backdrop of growing bilateral trade totalling $3.5 billion last year. More>>
MBSL seminar on New Companies Act
Daily News / Monday, 17 March 2008
Merchant Bank of Sri Lanka PLC (MBSL) has organised an evening Seminar titled "Sharing Practical Experience on Companies Act No. 7 of 2007" which will be held at Grand Ballroom of Galle Face Hotel from 4 p.m onwards on March 25. More>>
Export proceeds, worker remittances swell forex coffers
Sunday Times / Sunday March 16, 2008
Export earnings and worker remittances have helped to swell forex coffers in Sri Lanka, the Central Bank says.
During the first few weeks of 2008, the Gross Official Reserves continued to improve and stood at US$3,434 million by March 6, showing a surplus of US$366 million by that date. As per the projected level of imports for 2008, the Official Reserves were adequate to cover approximately 3.6 months of imports. More>>
RPC launches “St. Clair’s tea” in Russia
Sunday Times / Sunday March 16, 2008
St. Clair’s Teas, grown, manufactured, processed and marketed by Richard Pieris and Company has entered the quality conscious, cash-rich massive Russian market recently. More>>
GSK ranked one of the top 5 brands in UK
Sunday Times / Sunday March 16, 2008
GlaxoSmithKline (GSK) has been ranked fifth among the top 500 brands in the United Kingdom by the Superbrands Organisation, following the completion of the organisation’s annual survey, the company’s Colombo office said. More>>
Tea shares rise on record forex earnings
Sunday Times / Sunday March 16, 2008
Some plantation companies have posted the best ever profits this last quarter which their share prices are reflecting, but these prices may have run ahead of their earnings, according to industry analysts. More>>
APTA trade under utilised by Sri Lanka
Daily Mirror / Friday, 14 March 2008
By Damayanthi Hewamanne
Sri Lanka has under-utilised its prospect of trade under the Asia Pacific Trade Agreement (APTA). According to the actual and potential benefits and opportunities of APTA for Sri Lankan business and issues in the Rules of Origin by Department of Commerce Dr. Dayaratne Silva, it is known that under the utilisation of preferences for current exports are 28% of all the total exports. Out of the APTA eligible exports 15% of it is untouched by the exporters and even though Sri Lanka is eligible for 12% of current export for APTA preferences, concessions have been obtained only for 5% of the exports. More>>
Export cess on raw hides and skins increased
Daily News / Friday, 14 March 2008
The Export Development and International Trade Ministry has increased the export cess on raw hides and skins.
Revised cess for raw hides and skins is 50 per cent of FOB value or Rs. 350 per kg and for the Wet state 25 per cent of the FOB value or Rs. 225 per sq. ft. More>>
How effective is trade fair participation in marketing
Daily News / Friday, 14 March 2008
Sriyani De Saram Assistant Director EDB
In line with the increasing level of industrial technology and specific needs for a platform to exchange information, trade fairs have developed from mere fairs to effective marketplaces for buying and selling into vital sources of information and meeting places for trade partners. More>>
China provides concessions to boost exports
Daily News / Friday, 14 March 2008
Anjana SAMARASINGHE
China expects to provide more concessions to Sri Lanka to boost exports from Sri Lanka to China. Deputy Director General of Department of International Trade and Economic Affairs, Ministry of Commerce of People’s Republic of China Zhu Hong said China is a huge market for Sri Lanka and they do a large number of imports to the country. More>>
SME gets incubator in Chennai
Daily Mirror / Friday, 14 March 2008
By Deepal V. Perera
The Sri Lanka Chamber of Small Industry (SLCSI) set up a business incubator in Chennai to enable Small and Medium Enterprises (SME) gain market access in India under the Indo- Lanka Free Trade Agreement (FTA). More>>
Thai Ambassador hopeful for enhanced bilateral trade ties
Daily News / Friday, 14 March 2008
“We are an island nation and without bilateral trade we cannot survive,” said chairman of the Ceylon Chamber of Commerce, Mahen Dayananda during a courtesy call paid to the Ceylon Chamber of Commerce by Thai Ambassador to Sri Lanka, Thinakorn Kanasuta recently. More>>
Visit of EU Troika to Sri Lanka
Daily News / Friday, 14 March 2008
Sri Lanka and the European Union celebrate 35 years since the establishment of diplomatic relations. The two sides will seek to further strengthen the bilateral relationship.
Sri Lanka and the European Union have agreed to convene the 7th European Commission-Sri Lanka Joint Commission on June 10th and 11th in Colombo. More>>
Cement Corporation to import cement from US company
Daily Mirror / Friday, 14 March 2008
The government is set to reach an agreement with a US based company to import cement at US$74 per metric ton for the Sri Lanka Cement Corporation (SLCC). More>>
GL meets EU Trade Commissioner
Daily News / Thursday, 13 March 2008
Professor G.L. Peiris had a discussion in Brussels with Peter Mandelson, Trade Commissioner of the European Commission, about the GSP+ concessions available to Sri Lanka and their extension for a further period.
Prof. Peiris told Mandelson about the elections to nine local authorities being held in the Eastern Province of Sri Lanka and the future trajectory of the Peace Process at this meeting. More>>
Chamber of Small Industry on trade mission to Australia
Daily Mirror / Thursday, 13 March 2008
The Sri Lanka Chamber of Small Industry has organised a 12 member trade mission to Australia visiting Queensland and Tasmania in early April 2008. President of the Chamber Aloy Jayawardene will be leading the mission. The mission is scheduled to be meeting the Queensland Chamber of Commerce and Industry in Brisbane and the Chamber of Commerce and Trade in Hobart. This programme was made possible, with the visit of Mr. Jayawardene to the two Chambers in early 2007. Ms. Gothami Indikadahena, Sri Lanka Consul General in Sydney is in communication with the two Chambers in Queensland and Tasmania and presently finalizing the programme for the mission. More>>
Another
first for Sri Lanka:
Micro assembles Double deckers
Daily News / Thursday, 13 March 2008
Shirajiv SIRIMANE
For the first time in history Micro Cars Ltd will be assembling double-decker buses in Sri Lanka from next August.
The Chairman Micro Cars and veteran automobile engineer, Dr. Lawrence Perara said that two proto types of the bus would be ready by April. “We hope to launch the first double-decker bus by early August,” he said. More>>
Triumph lures Lankan designers to deliver creative lingerie
Daily Mirror / Thursday, 13 March 2008
By Sherwani Synon
Sri Lankan apparel factory has been manufacturing garments designed by other countries for all these years but now with the launch of the ‘Triumph Inspiration Awards’ a new pathway has been opened for young designers to get involved in the international forum. More>>
MAS Holdings, Empowers its Communities
Daily Mirror / Thursday, 13 March 2008
Known for its high labour standards/high employment standard and commitment to support its female employees who constitute over 92% of its workforce MAS entered into a partnership with one of its long standing clients, Gap Incorporated to launch the Gap Go Beyond Programme in 2006 .The programme which is supported by Gap’s Social Community Investment Fund extends its outreach to selected communities in which MAS business units are located. More>>
Orange Electric bulbs lead - AC Nielsen Research
Daily News / Thursday, 13 March 2008
Orange Electric secured the Number 1 brand position in the bulb category.
Chief Operating Officer - Lighting Rahman Zubair speaking at the Channel Partners meet held at Kandalama last weekend, confirmed the brand’s leadership position in bulbs, based on the retail audit carried out by AC Nielsen Research. More>>
BoI signs agreement with Rainbow Foods
Daily News / Wednesday, 12 March 2008
The Board of Investment of Sri Lanka signed an agreement with Rainbow Foods (Private) Limited. Chairman/Director General Dhammika Perera signed the agreement on behalf of the BOI and formally presented the investor with the BOI Certificate of Registrations.
The agreement with Rainbow Foods is for a project to undertake deep sea fishing and processing of fish for the export market. More>>
Top Indian business leader at ACCA Breakfast Meeting
Daily Mirror / Wednesday, 12 March 2008
ACCA Sri Lanka announced that the leader of McKinsey & Company’s
India Adil Zainulbhai will be the Guest Speaker at its CEO’s
Breakfast Meeting on Tuesday 18th March 2008 at the Cinnamon Grand.
Given the increasing focus of companies to better manage and prepare
for growth, the theme for the meeting is “Organise to Grow.”Zainulbhai
will discuss findings from McKinsey’s recent three years —long
research effort published in the book, “The Granularity of Growth.”
More>>
Hemas enters maritime business
Daily News / Wednesday, 12 March 2008
Far Shipping Lanka a wholly owned subsidiary of Hemas Holdings Plc has been appointed as the Exclusive Shipping Agent for Far Shipping Lines (FSL), Singapore. An agreement was signed recently in Singapore by both parties to enhance their operations in Sri Lanka. More>>
Retail interest moves up
Daily News / Wednesday, 12 March 2008
Shares in the Colombo Stock Exchange moved up marginally, mainly driven by stakes in SLT, following the Supreme Court order permitting NTT to sell its stake in SLT, if they wish to do so.
Retail interest moved up small capitalised shares, leading to a total turnover of Rs. 484 million. More>>
Singer launches Whirlpool Mastermind automatic refrigerator in SL
Daily News / Wednesday, 12 March 2008
Singer Sri Lanka Limited introduced the, yet another first by way of the country’s first automatic refrigerator, the new Whirlpool Mastermind. More>>
US$48 mn weft knit fabric manufacturing to double capacity in two years
Daily Mirror / Tuesday, March 11, 2008
Having completed its new major phase of expansion and development, Textured Jersey Lanka is now the country’s largest weft knit fabric manufacturer, housing one of the world’s most modern dye houses. Ceremonially inaugurated by the US Ambassador Robert O Blake yesterday, Textured Jersey Lanka which has always been considered the Rolls Royce in Sri Lanka’s fabric industry employs a highly literate and skilled team of over 1,200 within its 18 acre green field site at the Seethawaka International Industrial Park. More>>
SL lost US$1.3 billion in FOREX earnings last year
By Sandun A Jayasekera
Daily Mirror / Tuesday, March 11, 2008
TIDM introduces ‘Electronic Monitoring System’ to guard 2008
Sri Lanka had lost 40% earnings in the garments and apparel experts amounting to US$1.3 billion(Rs.113 billion), FOREX earnings due to defrauds or not being remitted to the country last year. A top state official disclosed yesterday. More>>
Durra builds panels from paddy straw
Daily News / Tuesday, March 11, 2008
Having identified the requirement for alternative building materials in the Sri Lankan construction industry, Durra Building Systems (Pvt) Ltd has embarked on manufacturing multi purpose building panels out of paddy straw which is considered to be an agricultural waste in Sri Lanka. More>>
Business Plan Competition
Daily Mirror / Tuesday, March 11, 2008
Qtex Solutions (Pvt) Ltd, recently announced the launch of Sri Lanka’s
first business plan competition. This competition is presented in
association with DFCC Bank, DFCC Vardhana Bank, and our sponsors Taj
Samudra, Sunday Times (FT); Daily Mirror and E FM and Ran FM. More>>
Micro signs deal for plant in Guyana
Daily News / Monday, March 10, 2008
The 'Micro' car-manufacturing company of Sri Lanka has embarked on establishing a production plant in Guyana in the Caribbean targeting the Latin American motor car market.
The
agreement was signed recently at the Export Development Board (EDB).
More>>
Jewellery trends adapting to record gold prices
Daily Mirror / Monday, March 10, 2008
SINGAPORE, March 9 (Reuters) -
Diamonds might be a girl's best friend, but for those buying jewellery
at a time of record gold prices, a new trend for lightweight pieces
using semi-precious stones and organic materials might be a welcome
ally. More>>
Toyota Lanka’s choice is SLT
Daily Mirror / Monday, March 10, 2008
Sri Lanka Telecom, the number one integrated communications service
provider in the country has signed an agreement with Toyota Lanka,
the sole distributor for the world’s no.1 Toyota products in
Sri Lanka, providing the company with a total communications solution.
SLT was successful in providing a total communications solution on
an exclusive basis after a period of ten years. More>>
Low grown teas impressive
Daily
News / Monday, March 10, 2008
Bartleet Tea Surveillance report upto March 5:
The quantity of tea arriving at the Colombo Auction this week increased to 6.386mkg from 6.251mkg traded in the previous sale.The ex-estate crops showed an increase from 0.814mkg to 0.943mkg. More>>
Oil palms, tea, rubber lead the way for Agalawatte record
Sunday
Times / Sunday March 9, 2008
Oil palms, once a doubtful crop, tea and rubber led the way to result
in Agalawatte Plantations Ltd (APL) biggest ever profit and turnover
in history – Rs 1.88 billion and a net profit of Rs 165.3 million
in 2007. More>>
Nature’s Secrets targets global market
Sunday Times / Sunday March 9, 2008
Nature’s Beauty Creations Ltd (NBC), manufacturers and marketers of the totally Sri Lankan Nature’s Secrets range of herbal personal care products, has strengthened its production capacity, to meet growing market demands through the commissioning of an ultramodern factory complex recently. More>>
Brandix case study cited as Microsoft global’s pivotal case study
Sunday Times / Sunday March 9, 2008
Leveraging on technology to support and indeed boost business processes is an unending challenge for many medium to large corporates.
But exactly what tangible benefits are achieved by these companies becomes a bit diffused over time, creating an unsettled feeling amongst the senior decision-makers in the companies about whether their substantial investment in complicated information technology (IT) processes and systems is being well spent, according to Microsoft Sri Lanka. More>>
Brandix Mercury launched to optimise financial processes and practices
Sunday Times / Sunday March 9, 2008
The Brandix group 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>>
Free Trade Agreement with India: after eight years of implementation
Daily Mirror / Friday, March 07, 2008
Indo-Sri Lanka Free Trade Agreement (ISFTA) which was signed as a fast track for promotion of trade between the two countries in December 1998 came into force eight years ago in March 2000. Purpose of this article is to analyze the impact of ISFTA on bilateral trade particularly on Sri Lanka’s exports to India. More>>
Flora tissues to Maldives
Daily News / Friday, March 07, 2008
Pee Bee Management Services Ltd, manufacturer of Flora tissues, have reached another milestone in the history of the company by exporting soft disposable tissue products like toilet tissues, paper serviettes under the brand of Flora tissues to the Maldives to a reputed company handling hotel services. More>>
Aitken Spence to invest in India
Daily News / Friday, March 07, 2008
Hiran SENEWIRATNE in Berlin
Aitken Spence Hotels will go for a joint venture hotel project with an Indian hotel company Floatels India Limited in Cochin.
The total investment would be around US $ eight million and Aitken Spence will undertake the management of the entire hotel under the agreement, Managing Director of the Indian partner M. R. Narayanan told the Daily News Business. More>>
All time record price for tea
Daily News / Friday, March 07, 2008
The BOP1 grade from Kurunduwatta Tea Factory selling under the Kurunduwatta mark sold at an all time high of Rs.520 per kilogram for the low grown elevation at the Colombo tea Auction held on March 4.
This tea was purchased by J.M.J international and was marketed by Asia Siyaka Commodities (Pvt) Limited. Kurunduwatta Tea Factory is located at Kurunduwatte in Galle district and owned by Mr. Al Hal M.M. Wakeel. More>>
Lanka must be converted to value addition hub
Chairman Capitol AEI Pvt Ltd and exclusive representative for DHL Global Forwarding in Sri Lanka Faiz-ur-Rahman
Daily News / Friday, March 07, 2008
Shirajiv SIRIMANE
The Sri Lankan telco industry is the leader in the South Asian region and it is considered in high esteem even in the Asia Pacific region. Sri Lanka also boasts of many firsts in the industry by being the first to introduce GSM, 3G and 3.5 G in the region. More>>
Micro Cars to open production plant in Guyana
Daily Mirror / Thursday, 6 March 2008
The ‘Micro’ car-manufacturing company of Sri Lanka has embarked on establishing a production plant in Guyana in the Caribbean with the intention of targeting the Latin American motor car market.
The agreement in this regard was signed recently at the Export Development Board (EDB) under the patronage of Prof. G.L.Peiris, Minister of Export Development and International Trade. More>>
“Sri Lanka still has much in its favour,” Unilever Chairman tells LMD
Daily Mirror / Thursday, 6 March 2008
Sri Lanka has enjoyed six to seven per cent growth even in tough times, notes Amal Cabraal.
“The corporate community has been making a point to national stakeholders, though it may not necessarily be doing so in the public eye,” Unilever Chairman Amal Cabraal tells leading business magazine in its March Cover Story. Cabraal adds: “I’m a member of the Ceylon Chamber of Commerce and I know that the chamber, as well as other industry associations and individuals, have been voicing their concerns.” More>>
Agalawatte records best ever performance in 2007
Daily News / Thursday, 6 March 2008
Chairman Mackwoods Group Dr. Chris Nonis
Agalawatte Plantations PLC (APL), the Mackwoods Group Plantation company has recorded a turnover of Rs. 1.88 billion and a net profit of Rs. 165.3 million in 2007, both of which are the highest in its history. More>>
All three DJ Indexes continue to record gains
Daily Mirror / Thursday, 6 March 2008
All three Dow Jones indexes recorded gains at the end of Wednesday’s trading. The total turnover for the day halved to Rs.250.37 million from Rs. 504.24 million recorded on Tuesday. More>>
Market marginally positive
Daily News / Thursday, 6 March 2008
Shares in the Colombo Stock Exchange traded within a very narrow margin with turnover at Rs 250 million. The ASPI moved up by 3 (+0.16%) to close at 2,566 points, whereas the MPI tracks the markets most liquid stocks moved up by 2 points (+0.09%) to end the day at 3,216 points. More>>
Sri Lanka sparkles at the Tokyo Jewellery show – 2008
Daily Mirror / Wednesday, March 05, 2008
Asia’s biggest jewllery show the International Jewellry Tokyo was held recently with participation of exhibitors from world over, including Sri Lanka.
The “Sri Lanka Pavilion” at ‘IJT 2008’ was organized by the National Gem & Jewellery Authority (NGJA) for the third consecutive year and coordinated by Sri Lanka Embassy in Japan commencing from 2008 which displayed a glittering array of Gems and Jewellery from Sri Lanka presented by eight members including three SME’s from the Trade. More>>
Crowning achievement in tea exports celebrated
Daily News / Wednesday, March 05, 2008
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>>
Apparel workers well looked after
Daily News / Wednesday, March 05, 2008
Anjana Samarasinghe
The average maintenance cost per worker in the local apparel sector is three times higher than other countries in the region.
CEO of Orit Apparels Lanka (Pvt) Ltd and Board member, BOI Channa P. Palansuriya said comparing with other countries in the region local apparel industry bears the highest average of maintaining cost per worker. "The average maintaining cost per worker is USD 150 to USD 200 in Sri Lanka and this is USD 60 in countries like Bangladesh and China," he said. More>>
Abhimani pays tribute to the woman of the apparel industry
Daily Mirror / Wednesday, March 05, 2008
By Jeevani Pereira
Women who form the majority of the workforce in the apparel industry that earns over 50 percent of the country’s foreign exchange, should be given more respect according to Joint Apparel Association Forum (JAAF) Chairman Ajith Dias. More>>
Brandix featured in Microsoft Global case studies
Daily News / Wednesday, March 05, 2008
Leveraging on technology to support and indeed boost business processes is an unending challenge for many medium to large corporates.
But exactly what tangible benefits are achieved by these companies becomes a bit diffused over time, creating an unsettled feeling amongst the senior decision-makers in the companies about whether their substantial investment in complicated information technology (IT) processes and systems is being well spent. More>>
CCISL - BPI leads private sector involvement in East
Daily News / Wednesday, March 05, 2008
Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) lead the private sector involvement in the Eastern province development in motion by kicking off a major enterprise rehabilitation drive in the eastern province.
FCCISL- BPI ( Business for Peace Initiative) together with Batticaloa District Chamber of Commerce Industry and Agriculture (BDCCI&A) and Kalmunai Traders Federation distributed grants to the value of Rs.3.49 Million to 113 conflict affected livelihoods and micro enterprises in the Batticaloa and Kalmunai at the inaugural distribution ceremonies held recently. More>>
Tea growers set for party as prices soar
Daily News / Tuesday, 4 March 2008
The tea industry in Sri Lanka, the world's second biggest exporter of the crop, is looking forward to good times again as prices soar on a global commodities boom.
Mounting productions costs and growing demand are combining to reverse a three-decade old trend toward lower prices, according to industry officials, and that means drinkers will likely have to pay more for their brew. More>>
Ceylon Leather net profit for 3Q tops Rs. 82.3m
Daily News / Tuesday, 4 March 2008
Ceylon Leather Products Plc has recorded a dramatic increase of net profits for the quarter ending December 31, 2007. According to the financial report released recently the group has recorded a net profit of Rs. 82.3 m compared to a loss of Rs. 6.2m for relevant quarter of the 2006 recording an increase of 1428%. More>>
Phoenix makes blow moulded plastic chairs
Daily News / Tuesday, 4 March 2008
Phoenix Industries, a leader for providing plastic solutions, created industry news by being the first to produce Blow Moulded plastic chairs locally. Blow Moulded plastic chairs are specifically designed for stadiums. More>>
High sales growth, new investments make Royal Ceramics shine greater
The Bottom Line / Tuesday, 4 March 2008
Based on impressive third quarter results Lanka Orix Research has come up with an update on Royal Ceramics Lanka Ltd. Here are excerpts.
Race
between the Top Line and the Bottom Line
The 3QFY07/08 was a tremendous success for RCL with the profit for
the nine months summing to SLRs. 363.14 million with a YOY growth
of 42%. The improved bottom line performance was mainly due to business
expansion giving a boost to the top line. More>>
Dankotuwa shakes off losses, looks to brighter future
The Bottom Line / Tuesday, 4 March 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>>
Apparel industry to push for concessions - GL
Daily Mirror / Monday, March 03, 2008
The government has informed the leading apparel exporter’s body that they must push for the continuity of concessions from the EU following trade talks with local mission heads. There is a need for the private sector to embark on a vigorous campaign of its own to secure continuity of the concessions, Export Development and International Trade Minister Prof. G.L. Peiris said told the Joint Apparel Association Forum recently.He made these observations during a meeting with apparel body on a comprehensive review of the preparation of Sri Lanka's case for extension of the GSP+ arrangements with the European Union. More>>
Aitken Spence lures world into leisure
Daily Mirror / Monday, March 03, 2008
By Sunimalee Dias
Aitken Spence Hotels has shifted focus to moving outside of Sri Lanka with large scale and growing investments in the management of hotels in the Middle East and India while Seychelles and Vietnam are also in the pipeline.
Lack of tourism picking up in Sri Lanka in the aftermath of the tsunami Aitken Spence Hotels shifted focus to moving into the Middle East. More>>
Business Tea Report
Strong demand for Bold Pekoes
Daily News / Monday, March 03, 2008
Bartleet weekly Tea Report:
The quantity of tea arriving at the Colombo Auction this week decreased to 6.251mkg from 6.800mkg traded in the previous sale. The Ex-estate crops too have decreased to 0.814mkg from 0.856mkg.
Market segments: Except for the Dimbulla seasonal quality teas, other varieties such as BOP and BOPF reported lower levels in the Ex-estate segment of the sale. More>>
Dubai ready to host boat show
Daily News / Monday, March 03, 2008
Dubai is set to host the region’s largest gathering of super yachts and suppliers at the Dubai International Boat Show (DIBS) 2008.
The event, which will be taking place at the Dubai International Marine Club – Mina Seyahi from March 11-15, will reaffirm Dubai’s position as the region’s leading showcase for luxury yachts and high-end craft, the organiser said in a statement. More>>
A revolution in eco products
Sunday Times / Sunday March 2, 2008
By Tharindri Rupesinghe
Kurunegala -- Eight years ago, on a pilgrimage to Bodhgaya in India to follow the footsteps of the Buddha, A.U.R. Chandrasiri encountered a strange sight.
While visiting the Taj Mahal in Agra he noticed that the Indian food-sellers were selling their eatables on plates made from small tree leaves. "They don't allow you to take polythene into the Taj Mahal," he said. "Those vessels were very weak and couldn't even hold the food without crumbling. And then it got me thinking of how we could make it better, with less effort, in our country". Now as the enterprising proprietor of Delshan Enterprise (Pvt) Ltd, Chandrasiri has incorporated the idea into a unique eco business. More>>
Ceylon Chamber signs ground-breaking MOU with CCI
Sunday Times / Sunday March 2, 2008
The Ceylon Chamber of Commerce (CCC) recently entered into a Memorandum of Understanding with the Chamber of Construction Industry Sri Lanka (CCI) in a bid to energise private sector innovation in the construction sector. More>>
Aitken Spence port bid in our national interest
Sunday Times / Sunday March 2, 2008
By Azzam Ameen
It is extremely alarming to note recent media reports of some officials at the Sri Lanka Ports Authority (SLPA) pushing to offer the Colombo South Port Development Project to Hutchison Port Holdings of Hong Kong, contradictory to the recommendations made by the Cabinet-Appointed Negotiating Committee (CANC) and the Technical Evaluation Committee (TEC) to award the project to the consortium made up of Aitken Spence and Port of Singapore Authority (PSA). More>>