Cord
price for sheet rubber
Daily News /Wednesday, 31 October 2007
The
highest price for sheet rubber was recorded as Rs. 261 last
week. Director General Rubber Development Department Wimal Rubasinghe
said it was for the first time in the history that rubber prices
went up to that level and it was between Rs. 200 to 230 all
the time. More>>
Drop
in tea production
Daily News /Wednesday, 31 October 2007
The
total production of tea in Sri Lanka during the month of September
has dropped by 2,662,615 kgs which is a 9.5 per cent decrease
against the total production in September 2006 according to
a Sri Lanka Tea Board report.
The
total production in 2006 during the corresponding month amounted
to 2,535,981 kgs. The total production during the period from
January to September 2007 amounted to 219,433,137 kgs as against
238,113,012 kgs produced during the corresponding period of
2006, shows a decrease of 18,679,875 kgs which is 7.8 per cent
the report said. More>>
Emerging
challenges for local garment sector
Daily News /Wednesday, 31 October 2007
The
Daily News Business will serialise some research findings from
this week from the 13th Symposium of the University of Moratuwa
held recently for the benefit of the industry.
Following
is the findings on the apparel market done by a lecturer of
Department of Clothing Technology of the University, Rivini
Mataraarachchi. More>>
Sri
Lanka tea promotion in China
Daily
News /Tuesday, 30 October 2007
The Commercial Section of the Embassy of Sri Lanka in China
carried out a series of activities targeting an intense promotion
of Ceylon Tea in the Chinese market.
China
has been identified as a very promising immerging market for
tea with the younger generation showing a taste for value added
teas from Sri Lanka.
In
early October a promotional event was held for the Commonwealth
Society of Beijing, when wife of Ambassador Karunatilaka Amunugama
in her capacity as the Asia Regional Representative of the Society,
hosted the members for a monthly meeting at the "Residence".
During
the meeting Sri Lanka tea with different favours were served
and token packs were distributed giving a description of the
unique blend of Ceylon Teas coming from distinct geographical
areas.
A
tea promotional drive was also held in the port city of Tianjin,
in northern China during early October, national holiday season
at the "World Global Village and International Shopping
Festival'. More>>
MAS
rolls out Amante brand for India
Daily
News /Tuesday, 30 October 2007
MAS Holdings has unveiled its own lingerie brand-Amante in India.
The
$700 million MAS Holdings, which supplies products to Victoria's
Secret, Marks & Spencer and GAP, has launched its value
premium lingerie brand for the first time. Currently, the brand
will be available in India alone.
Having
launched the brand in Chennai and Bangalore, MAS Holdings plans
to roll out Amante nationally mid-next year. Amante will be
available at department stores and regional multi-brand outlets.
The
company also plans to launch exclusive Amante outlets through
the franchisee route. Priced between Rs. 295 and Rs. 995, Amante
will cater to the mid to upper segment lingerie market. According
to A. C. Nielsen estimates, the organised lingerie market in
India is about Rs. 320 Crore.
Targeted
initially at Indian consumer Amante will be made available in
Sri Lanka, Pakistan and Middle-East. More>>
Complicated
tax system irks exporters
Daily
News /Tuesday, 30 October 2007
Ramani Kangaraarachchi
Exporters
have to pay 10 taxes at the Customs and various places and this
is taking off the competitiveness of Lankan products, President
of Exporters' Association and Chairman DSI group D. K. Rajapaksha
said.
Speaking
at an event in Colombo organised to raise their voice prior
to the forthcoming budget he said they are not asking the Government
to reduce taxes. "The country is fighting a war and the
country needs additional funds. Exporters are ready to pay taxes.
However they should look at simplifying the procedure as delays
increase our overheads," he said.
Rajapaksha
said that since they have to go to several departments to pay
these taxes, their overheads increase which force them to increase
prices. "Due to this we cannot compete in the international
markets as our production cost goes up," he said. More>>
SL
– India strive to achieve concessions for garment industry
Daily
Mirror /Tuesday, 30 October 2007
Brandix
considered “flagship investment” and “model
project” by Indian govt.
The
Sri Lankan garment industry will be given a boost via the Free
Trade Agreement with India, whereby local manufacturers will
be provided with concessions when exporting garments.
India has permitted Sri Lanka to export 3 million garment pieces
to the sub-continent without adding the value of the total 8
million pieces exported, Professor G.L. Peiris, Minister of
Export Development and International Trade told the Daily Financial
Times.
He made these observations following bilateral discussions with
Indian Commerce and Industry Minister Kamal Nath in Goa recently.
This latest concession meant that the source of the fabric was
not relevant and therefore there was no need for local garment
manufacturers to add value from Sri Lanka under the specific
quota already given.
More>>
Going
global: It’s prudent: It’s the in-thing
Daily
Mirror /Tuesday, 30 October 2007
Researched
and developed by Intimex Consulting’s CEO Nibras Bawa,
Intimex 5D is a comprehensive strategic market entry planning
process. The young market entry strategist who personally works
on consulting assignments in the Middle East and Asia beside
driving Intimex’s global operations, shared his insights
on corporates and brands going global. He cautions Sri Lankan
companies should go global or be prepared to go astray. Excerpts
of the Interview:
FT: Why do you often advocate Srilankan companies going global?
NB: Srilanka, just like it has abundance of resources, also
has some inherent limitations. For instance, the size of the
opportunity that exists here is smaller compared to say India
where the market is bigger. We should leverage on our accumulated
core competencies, take them global and create value from the
scale that is available outside SriLanka. We can be trendsetters
in certain areas than mere followers. I firmly believe Srilankans
have the ability to take the world by storm.
FT: But going global conflicts with attracting investments?
How do you explain this?
NB: Well, in an inter-dependent world, there will be as much
debit as there is credit. Going global need not have any bearing
on inward FDIs, as Srilanka cannot sustain its economy only
by attracting FDIs. If you look at the successful economies
of the world today, all of them have one thing in common. They
all ventured globally and created value. Indian Tata acquired
its British rival Corus and that’s a reality. Today rules
are being re-defined and most multinationals of the next era
will be of Asian roots. In this context we should encourage
going global as much as we promote FDIs. If strategically managed,
both ways we can create value. More>>
Lanka
Salt to export to Europe
Daily
News /Monday, 29 October 2007
Shirajiv SIRIMANE
LANKA
SALT Limited hopes to export their products to Europe next year.
The company is already exporting 100 metric tonnes to Japan
through a subsidiary.
Deputy
General Manger, Lanka Salt Limited, Mali Bandara said this is
part of their three-year plan. A Chinese company too had visited
the salt plains in Hambantota and are currently discussing on
exports to China.
She
said that in addition the company has also introduced fish food
(Artenia) to the local market using Vietnamese technology. “We
hope to increase production next year and in two years would
be in a position to supply the total local requirement,”
she said.
Chairman
Mahinda Gunawardane is also keen to go ahead with this product.
Sri
Lanka imports 10,000 metric tonnes of salt out of a annual demand
of 120,000. Hambantota already manufacturers 72,000 and by the
end of next year this would increase by 10,000 which would enable
to stop imports. More>>
Regulations
on jewellery standards
Daily
News /Monday, 29 October 2007
With
the objectives of promoting and upgrading the jewellery industry
and in protecting the consumer interest a programme has been
implemented by the National Gem and Jewellery Authority where
the trade is encouraged to market jewellery articles which conform
to legal standards.
National Gem and Jewellery Authority Chairman, Hasitha Tillekeratne
said those engaged in the jewellery industry are required to
register with the National Gem and Jewellery Authority under
the National Gem and Jewellery Act No.50 of 1993. The required
regulations to ensure a jewellery market which conform to approved
legal standards, have now been implemented. More>>
Initial
operation commenced last year:
Marks
& Spencer expands in Sri Lanka
Daily
News /Monday, 29 October 2007
Head of International Operations of Marks & Spencer UK on
a brief visit to the Country last week had extensive talks with
representatives of Global Park and RJV International to finalise
the next phase of their logistics operations in Sri Lanka.
Marks
& Spencer (M&S) with an annual turnover of over Sterling
Pounds 8 billion (US $ 16 billion) is a UK based retail giant
with over 400 stores located throughout the UK and 150 stores
worldwide including over 130 Franchise businesses operating
in 35 countries.
M&S
has already selected Global Park to house their Regional Logistics
Hub where currently M&S brand garments purchased by RJV
International from Sri Lanka, India and Bangladesh are stored
for onward distribution to M&S outlet stores in UK based
on their stock levels and sales requirements. More>>
National
Chamber helps SMEs in the East
Daily
Mirror /Monday, 29 October 2007
The
National Chamber of Commerce of Sri Lanka (NCCSL) assisted 11
Small and Medium Entrepreneurs in the Trincomalee District by
granting funds to purchase capital equipment. The grant was
from the Business Promotion Fund under the “Grow your
Business” project funded by the Royal Netherlands Embassy.
The grants were presented at a function held at the Trincomalee
District Chamber of Commerce and Industry with the participation
of officials from the National Chamber of Commerce of Sri Lanka
and members of the Trincomalee District Chamber of Commerce
and Industry.
Mr. D. Eassuwaren, the President of the NCCSL said that the
sole purpose of assisting the SMEs in Trincomalee was to upgrade
their businesses in order to increase their productivity and
turnover with increased employment opportunities for the youth
in the area. He also said the Chamber is happy to assist the
business community in the Trincomalee District who had undergone
severe difficulties due to the Tsunami catastrophe and the lack
of infrastructure while adding that the Chamber intends to further
support these businesses by providing marketing opportunities
overseas and in Colombo, so that they could sell their products
profitably. Mr. Eassuwaren also mentioned the fact that the
Chamber could support the farmer associations in the area by
way of granting funds to purchase agricultural machineries.
More>>
Business
Motor
Daily
Mirror /Monday, 29 October 2007
Geely 1500cc sedan motorcar now in Sri Lanka
Geely car is manufactured by Geely International Corporation,
a subsidiary of Geely Holding Group, the largest private car
manufacturer in China and the exclusive authorized exporter
of Geely brand of cars, are now in Sri Lanka.
MK
series is the new vehicle series. Geely Group had invested billions
of dollars, over 1,000 experts and engineering personnel to
develop this series spending more than 36 months research.
This new MK integrates more elements of market and international
fashion. It has more than 100-patented technologies, particularly
in NVH for noiseless and international leading technology for
chassis, which makes MK vehicle at the level of leading standard.
More>>
Tea
Shakthi Fund earns profits upto Rs.74 m
Daily
Mirror /Monday, 29 October 2007
By
Ravindu Peiris
Ten out of thirteen tea factories under the Tea Shakthi Fund
earned a profit of Rs.74 million during the last 9 months.
Plantation Industries Minister D.M Jayaratne has proposed to
distribute a share of higher profit earned by profitable tea
factories among the management and factory staff in order to
encourage them to achieve more.
At a meeting chaired by the minister to review the 13 factories
it was decided to reduce the inadequate corporation of factory
staff in some factories. A committee was appointed at the meeting
to study about the failure of the Balangoda, Gilimale and Panselthenne
tea factories. More>>
Garment
exports into the EU to rise
Sunday
Times /Sunday October 28, 2007
By Dilshani Samaraweera
Sri
Lankan apparel exports to the EU are expected to increase due
to the DogiEFA warp knit facility in the MAS Fabric Park in
Thulhiriya. DogiEFA officials say the availability of warp knitted
fabric in Sri Lanka will help increase exports to the EU, by
allowing more local garment exporters to make use of the GSP+
scheme.
The
GSP+ trade concession scheme gives duty free access to Sri Lankan
ready made garments into the EU. The trade scheme was operational
since July 2005. However, many local apparel exporters could
not use the scheme to export duty free into the EU because domestic
value addition was too low.
To
qualify for GSP+ benefits, local garments have to show over
50% domestic value addition and domestic double transformation.
This was not possible due to the high percentage of imported
inputs. Although garment exports are worth US$ 3 billion annually
the industry imports around US$ 1.6 billion worth of fabric
and accessories as inputs. More>>
Government
preparing for EU’s GSP+ review in 2008
Sunday
Times /Sunday October 28, 2007
By Dilshani Samaraweera
The
government is taking action to retain the GSP+ scheme for Sri
Lanka beyond 2008, says the Minister of International Trade.“The
GSP+ comes up for review in 2008. We are already laying the
foundation for the review,” said Minister of International
Trade and Export Development, G L Peiris at a press conference
after the launch of the MAS Fabric Park (MFP) in Thulhiriya
last week.
The
GSP+ scheme is a unilateral, preferential trade scheme from
the EU that allows Sri Lanka to export around 7,200 items into
the EU, duty free. Sri Lanka is the only country in South Asia
to get this benefit. The GSP+ is given to countries that are
seen as ‘vulnerable economies.’ But countries must
also ratify and implement a number of international conventions
on political, human and labour rights and environmental standards
to qualify for the GSP+.
The
GSP+ has been operational in Sri Lanka since July 2005 but is
up for review in 2008. The outcome of the review decides whether
Sri Lanka should keep the GSP+ beyond 2008. More>>
Elephant
House ice cream leads in the Maldives
Sunday
Times /Sunday October 28, 2007
Ceylon Cold Stores, makers of the popular Elephant House ice
cream, introduced its latest variant ‘Vanilla Lite’,
to consumers in the Maldives further consolidating its market
leadership in the island nation.
Vice
President JKH and Head of Frozen Confectionary of JHK Consumer
Foods Sector Neil Samarasinghe said that Elephant House ice
creams expanded its regional presence by entering the Maldives
market in 2002. “Today five years later, it enjoys the
enviable top slot as market leader in the Maldives with over
50% share, amid competition from various international brands,”
he was quoted as saying in a press release. More>>
CCC
business mission to Qatar, Turkey and UAE
Sunday
Times /Sunday October 28, 2007
The Ceylon Chamber of Commerce Trade Fair Unit is sending a
business promotion mission to Qatar, Turkey and UAE (Dubai and
Abu Dhabi) during December 1-11. Meetings with business communities
in Qatar, Turkey, Dubai and Abu Dhabi are among the highlights
of the mission, the chamber said. More>>
Sri
Lankan companies court business in Norway through ‘Matchmaking’
programme
Daily
Mirror /Friday, October 26, 2007
The
Sri Lanka – Norway Industrial Cooperation (Matchmaking)
Programme organised and coordinated a business delegation to
Norway, which took place from the 24th to 28th September, 2007.
The intention of the mission was the widening of scope for business
collaborations in new sectors with high potential and to provide
an opportunity for Sri Lankan companies to get a better exposure
to the Norwegian market and industries.
The delegation comprised 14 Sri Lankan companies mainly representing
three business sectors, which included BPO (Business Process
Outsourcing), Oil & Gas and Fiberglass & Light Engineering.
The companies in the three industry sectors were given the opportunity
to visit different regions of Norway and meet the relevant industries
and visit the work sites to get a first hand exposure on the
systems practised.
Esala Weerakoon, the Sri Lanka Ambassador to Norway, received
the delegation at his residence on the first evening in Oslo
with the presence of NORAD officials linked to the Matchaking
Programme.
The Fiberglass and Light Engineering companies visited the town
of Drammen closer to Oslo where they met with representatives
of similar industries and travelled to Mo i Rana, an industrial
province in the Arctic Circle. The delegation included Araliya
International Group of Companies, Bluestar Marine (Pvt) Ltd/Lanka
Mountcastle (Pvt) Ltd, Dhanusha Marine Lanka (Pvt) Ltd, Fibreplast
(Pvt) Ltd, Pubudu Engineering (Pvt) Ltd and USS Engineering
(Pvt) Ltd. More>>
“How
Competitive is Sri Lanka for Business?”
Daily
Mirror /Friday, October 26, 2007
The
CCC Seminar on “How Competitive is Sri Lanka for Business?”
is timely and useful. The Seminar will enlighten you on where
we stand as a country and in business in terms of competitiveness
against the rest of the world. The Ceylon Chamber will make
a presentation on the performance of Sri Lanka in this year’s
Global Competitiveness Report.
The Chamber has invited local think tanks, policy makers and
business experts to debate the findings of the Global Competitiveness
Report, which will officially be launched on 31st October 2007.
Panellists at the discussion include; Dr. Saman Kelegama, Executive
Director, Institute of Policy Studies, Mr. John Varley, Chief
of Party, The Competitiveness Program, Dr. Nihal Samarappuli,
Executive Director-Research, Board of Investment of Sri Lanka,
Mr. Sunil Wijesinha, Chairman/MD, Dankotuwa Porcelain Ltd and
Mr. Indrajith Aponso, Senior Lecturer, University of Colombo.
The Seminar will be held on November 1 at 3.45 p.m. at the Ground
Floor Auditorium of the Chamber. More>>
Glass
consumption to grow by 15% in 2010
Daily
Mirror /Friday, October 26, 2007
By
Supun Dias
Ceylon Glass Company President and Managing Director Mr. Sanjaya
Thiwari said yesterday that the companies Pre tax Profit have
increased to 1.85 Billion rupees. After the Gujarat Glass Company
aquired the company in 2000, he said that they have achieved
record growth in sales especially because of the liquor demand
have been increased to 50 percent.
Speaking further Mr. Thiwari said that there is a 16 percent
growth in bottle sales. He said that from the companies main
customers like Chatean Indage of India and United Spirits of
USA have increased there demand.
By 2010 he said that the Glass Consumption will grow by 15 percent
and the growth in the Indian Wine Industry will have a positive
impact on the C.G.C sales.
Speaking further about the New Facility at Horana which will
start production in December will increase the bottle production
from 11million to 25million per month and 250 tonnes of Glass
per day. More>>
Amazon
teas reach new heights with exclusive multi-brands
Daily
Mirror /Wednesday, 24 October 2007
Winner
of two prestigious awards, most outstanding value added tea
exporter and the gold award for the best value added tea exporter
(large category) at the exports awards ceremony by the National
Chamber of Exporters, Amazon Teas has set out a clear objctive.
That is to access as many markets as possible by branding their
tea products with the choice of the brand being offered to the
local expertise in the relevant markets.
Starting small in the export market, Amazon Teas changed focus
last year moving on to develop varied brands to cater to different
market segments. For example, their new age tea brand “Tea
of Life Special Edition” has a range of flavours in environment-friendly
packaging, with soft and clean designs created to project the
soothing and rejuvenating effects of the beverage contained
within. More>>
Garments
without Guilt to be showcased at Fatex Fair
Daily
Mirror /Wednesday, 24 October 2007
Sri
Lanka Apparel will be showcasing “Garments without Guilt”
at the Fatex Fair to be held early next month in Paris.
Sri Lanka Apparel – Garments without Guilt, the ethos
of the Sri Lankan apparel industry, epitomizes the synergy between
ethical brands and apparel made in Sri Lanka. “Children
have no business in our business” is just one of the principles
governing this industry ethos.
The “Garments without Guilt” initiative focuses
on ethical manufacture and sustainable development assuring
the industry’s commitment to ethical working conditions,
free of child labour, free of forced labour, free of discrimination
and free of sweatshop practices.
The Sri Lanka Apparel delegation headed by its Chairman Ajith
Dias will be accompanied by prominent garment manufacturers
who will also be participating at the fair and include the likes
of MAS Holdings, the Penguin Group, Union Apparels, Garment
Services, Jubilee Apparels, Denshun Industries and Alexandra
Industries. The product capabilities on display will range from
intimate apparel, sportswear, leisurewear, children’s
wear, formal wear and garments with varying washed effects to
hand flat knits and computerized auto fashioned knits as well
as embellishments including hand worked sequin beads and embroideries.
More>>
Seminar
highlights software piracy
Daily
News /Wednesday, 24 October 2007
Research by the Business Software Alliance, the National Intellectual
Property Office, the Ceylon Chamber of Commerce, and the European
Chamber of Commerce of Sri Lanka, revealed that in 2006 the
software piracy rate in Sri Lanka was a staggering 90%.
According
to the IDC, a leading IT, telecom and consumer technology research
firm which conducted the research, nine out of ten software
programmes installed on new (personal) computers in Sri Lanka
were unlicensed or obtained illegally through software theft.
This
is significantly higher than the 53% piracy rate for the remainder
of the Asia-Pacific region. It also places Sri Lanka in the
bottom six of the 102 countries reviewed worldwide. More>>
ValueFirst
introduces global SMS platform to Lanka
Daily
News /Wednesday, 24 October 2007
ValueFirst Lanka, a member of the ValueFirst Group headquartered
in India, with a presence in over 8 countries including Nigeria,
Pakistan, Romania, Russia, the UK, the Middle East, Lebanon,
and the Caribbean Islands, will make its debut shortly as the
first ever independent Mobile Virtual Network Operator [ MVNO
] in Sri Lanka.
Vice
President, Global Alliances ValueFirst, Srinand Sridharan, said
that their objective for Sri Lanka was to create an independent
MVNO, with a focus on enterprise mobile messaging with unique
and superior offerings for mission critical, corporate applications.
“Value
First is a leading MVNO with a clear focus on SMS mobile messaging
for enterprises. It empowers its customers to communicate between
varied IT back-end systems and mobile phones, using SMS services”,
said Sridharan.
He
went on to say that ValueFirst provides a unique, end to end,
global carrier grade mobile data service offering ‘ plug
and play’ application and hosting. More>>
Sri
Lanka Apparel to showcase ‘Garments without Guilt’
in Paris
Daily
News /Tuesday, 23 October 2007
A SRI LANKAN Apparel delegation will be participating at the
Fatex Fair next month in Paris. The team would be headed by
its Chairman Ajith Dias and would include prominent garment
manufacturers.
The
‘Garments without Guilt’ initiative focuses on ethical
manufacture and sustainable development assuring the industry’s
commitment to ethical working conditions, free of child labour,
free of forced labour, free of discrimination and free of sweatshop
practices.
The
garment manufacturers include MAS Holdings, Penguin Group, Union
Apparels, Garment Services, Jubilee Apparels, Denshun Industries
and Alexandra Industries.
The
product capabilities on display will range from intimate apparel,
sportswear, leisurewear, children’s wear, formal wear
and garments with varying washed effects to hand flat knits
and computerized auto fashioned knits as well as embellishments
including hand worked sequin beads and embroideries. More>>
Sri
Lanka tea: Saddled with low yields
Daily
News /Tuesday, 23 October 2007
By
Ravindu Peiris
The tea yield in Sri Lanka is only1,386 kg. per ha, which is
very low compared to other tea producing countries such as India,
which produces about 1,774 kg. per ha and Kenya, which yields
2,325 kg per ha. The main cause for such a low yield is the
fact that most plantations are more than 50 years old and need
replanting.
The total area planted with tea in Sri Lanka is about 221,969
ha but the extent that bears any produce is approximately 193,000
ha which includes 14 administrative districts, 123 Divisional
Secretariats and 3,692 Grama Niladhari ranges.
Although the tea industry in Sri Lanka is celebrating its 140th
anniversary since James Taylor introduced tea on a commercial
scale to the country in 1867, it’s a crying shame to see
the industry in such a recession. According to the statistics
of the Sri Lanka Tea Board (SLTB) the county’s crop decreased
from 310.8 mn. kgs. in 2006 to 194 mn. kgs. this year. Kenya
which was marginally behind Sri Lanka in the production of tea
in the world market, was able to produce 244.2 mn.kgs. More>>
MAS
knits success into fabric landscape:
Growing
demand to be met
Daily
News / Monday, 22 October 2007
Rohan
MATHES in Thulhiriya
Sri
Lanka is becoming an apparel sourcing hub, observed the Chairman
of MAS Holdings Mahesh Amalean. He was addressing the inaugural
ceremony of South Asia’s first ever textile and apparel
industrial park and warp knit facility at Thulhiriya on Friday.
Chairman
Amale- an said that the launch of the MAS Fabric Park (MFP)
was just one of their contributions towards their vision, by
positioning the supply chain of the country’s apparel
industry as a one-stop-shop for all apparel solutions.
Their partnership with DOGI would help to supply the growing
demand for warp knit in the region and enhance Sri Lanka’s
competitiveness.
MAS
Holdings had been in the apparel industry as a retailer for
around 30 years during which they had built-up a reputation
in the United States, Europe and the United Kingdom for world-class
products.
“We
had conformed to the highest ethical norms and all international
labour standards. We had always taken great care to protect
the environment,” he added. More>>
CCC
sets sight on Gulf for business promotion
Daily
News / Monday, 22 October 2007
The Ceylon Chamber of Commerce Trade Fair Unit, with several
successful trade promotion and fact finding missions to its
credit, has announced its next step forward; a proposed business
promotion mission to Qatar (Doha), Turkey (Istanbul) and UAE
(Dubai and Abu Dhabi) from December 1-11, 2007.
The
CCC having identified these countries as potential markets for
Sri Lankan products has initiated this mission, in a bid to
strengthen trade ties, establish business links and source suitable
business partners in the areas of trade, investment, joint ventures,
technology transfer and services.
Meetings
with business communities in Qatar, Turkey, Dubai and Abu Dhabi
are among the highlights of the mission. More>>
Special
section for student competitors:
Daily
News / Monday, 22 October 2007
NCC
provincial expo to benefit handicraftsmen
Handicraft exhibition will be held on a provincial basis concurrently
with the Shilpa 2007 National Handicrafts Exhibition organised
by the Rural Industries and Self Employment Promotion Ministry.
Arrangements
for this purpose have been finalised by the National Crafts
Council in association with the Provincial Industries Ministries.
These
provincial exhibitions will be held in all parts of the country
including the North and East throughout this month said communique
issued by the NCC.
Handicraft
artistes permanently resident in the respective provinces who
are registered with the NCC will be eligible to participate
in these exhibitions. They should ensure that their creation
are certified by the respective NCC officer in their province
before submitting their entries the communique added. More>>
Bartleets
weekly tea surveillance upto October 17:
Local
packers trading strong on Ex-estate market
Daily
News / Monday, 22 October 2007
THIS WEEK’S AUCTION witnessed 4.91 mkg of teas traded
of which 0.585mkgs were Ex-estate teas. An increase has been
noted as compared to last week’s auction which totalled
4.806mkg with the Ex-estate reporting a 0.556mgs.
On
the Ex-estate market the local packers were trading in strong.
Most of the high priced varieties were met with low demand due
to the anticipated crop increase because of the changing favourable
weather conditions. Meanwhile, the overall sale was low comparatively
to last week’s auction.
The
CIS, Far East, Japan and the Middle East were strong. The CIS
were mainly active on the tea bags and Japan on Nuwara Eliya
and Udapussellawa teas. More>>
World’s
first clean fabric manufacturing zone opens in Sri Lanka
Sunday
Times /Sunday October 21, 2007
By Dilshani Samaraweera, Pic by J.Weerasekera.
The world’s first eco friendly fabric and apparel manufacturing
zone began business in Thulhiriya in north central Sri Lanka
on Friday.
Fabric
manufacturing is known as a polluting industry but on Friday
the MAS Fabric Park went public as the world’s first fabric
and apparel manufacturing zone based on an eco-friendly blueprint.
“Traditionally
the garment industry is seen as sweat shops and fabric mills
are seen as polluting. So we are reversing the tradition from
Sri Lanka. The MAS Fabric Park is going to be the world’s
first eco-friendly fabric and apparel manufacturing zone,”
MAS Holdings Chairman Mahesh Amalean told The Sunday Times FT.
The
MAS Fabric Park was previously the Kabool Lanka textile manufacturing
zone that was out of operation for a number of years and last
year the government handed over management of the facility to
MAS Holdings.
MAS
is now completely overhauling and modernising the zone on an
environmentally friendly framework. More>>
Exporting
construction skills
Sunday
Times /Sunday October 21, 2007
By Lakwimashi Perera
An
economic slowdown that has affected construction companies has
led to industry professionals marketing their skills overseas
in a bid to stay in business.
Surath
Wickramasinghe, President of the Chamber of Construction Industry
(CCI) told The Sunday Times FT that a 25-member chamber delegation
is joining Ministers Prof. G. L. Peiris and Rajitha Senaratne
to Qatar and Dubai in early November for discussions on marketing
Sri Lankan construction skills.
Wickramasinghe
said everything from the drawing up of plans to the calculations
that are part of the process will be offered. Structural engineering,
mechanical engineering, architecture, in short, all the services
that are needed in the initial stages of construction will be
on offer.
Most
of the country’s top organizations will be represented
in the delegation. He said this would enable ‘us to market
our professional skills’ and will help the industry tide
over the bad times while retaining the professionals in the
country. More>>
National
chamber meets Iraqi government delegation
Sunday
Times /Sunday October 21, 2007
Senior officials of the National Chamber of Commerce of Sri
Lanka headed by Lal de Alwis, its Deputy President, met a delegation
of government officials and businessmen from Iraq in Colombo
last week.
The
discussion between the two parties focused on the promotion
of trade and investment between the two countries for mutual
benefits. The Iraq delegation said there are opportunities in
Iraq for Sri Lanka in the field of construction and tourism.
They said they could also assist in oil exploration in Sri Lanka
as they have the technology.
NCCSL’s
de Alwis invited them to set up manufacturing plants in Sri
Lanka so that with 35% value addition they could avail preferential
tariff benefits under Sri Lanka - India and Sri Lanka –
Pakistan Tree Trade Agreements. More>>
Trade
delegations slot their arrival for IMEXPRO 2008
Daily
Mirror /Friday, 19 October 2007
Trade delegations from 12 countries have already confirmed their
participation for IMEXPRO 2008, an International Import –
Export Promotion Fair to be held from February 14-16, 2008,
at BMICH Colombo, Sri Lanka.
The confirmed delegations are from Singapore, Pakistan, South
Korea, Oman, Saudi Arabia, Nepal, USA, Jordan, Italy, India,
U.A.E. and the Maldives, while inquiries are pouring in from
several other countries eager to make use of this exclusive
opportunity. ‘IMEXPRO 2008’ is organized 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 Sri Lankan
Airlines Ltd.
HSBC is the Platinum Sponsor of IMEXPRO 2008 along with the
SAARC and Trade Promotion Projects implemented jointly by the
Ceylon Chamber of Commerce and the German Technical Cooperation
(GTZ) on behalf of the German Federal Ministry for Economic
Cooperation and Development BMZ. Through the GTZ-Supported SAARC
and Trade Promotion Projects, IMEXPRO 2008 will feature a SAARC
Trade Pavilion with all the partner organizations in SAARC countries
as well as a special stall where business from the eastern region
in Sri Lanka can display their products. More>>
Gem
and jewellery schols for rural youth
Daily
News /Friday, 19 October 2007
Two Gem and Jewellery Training Courses are to be conducted for
rural youth by the National Gem and Jewellery Authority (NJGA).
This
will enable them find lucrative jobs and cater to the increasing
demand for trained labour in the gem and jewellery sector here
and abroad under a programme initiated by Enterprise Development
and Investment Promotion Minister Dr. Sarath Amunugama.
The
entire cost of these training courses conducted on a scholarship
basis would be borne by the NGJA while the actual training would
be handled by the Gem and Jewellery Research and Training Institute.
The training courses will be on "Jewellery Production"
and "Gem Cutting and Polishing".
The
NJGA would grant a scholarship worth Rs. 20,000 to each youth
following the jewellery production courses and a scholarship
worth Rs. 10,000 each to youth following gem cutting and polishing.
A
batch of 25 youth have already been selected for training in
Jewellery and a batch of 10 have been selected for gem cutting
and polishing for training courses to be launched at Eheliyagoda.
More>>
Tea
board invests Rs.70 m for analytical lab
Daily
News /Friday, 19 October 2007
By
Ravindu Peiris
The Sri Lanka Tea Board (SLTB) is to open an analytical laboratory
worth Rs.70 million to conduct experiments needed for the development
of the industry in the country.
“The
building has already been constructed and the SLTB hopes to
open it before the end of this year” SLTB Director General
H.D. Hemarathne told the Daily Financial Times.
As there is only a chemical section in the current tea laboratory,
the Tea Board plans to introduce two new sections - the Micro
Biological section and the Pesticides section. The new building
is within the Tea Board’s premises and although the only
employees at present are the Officer-in-charge and four chemical
officers, the Board intends to provide more employment opportunities
once the building is opened. More>>
Ceylon
Glass betters last year’s performance
Daily
Mirror /Friday, 19 October 2007
The Ceylon Glass review of its performance for the first half
of the current year,reflects higher profits in comparison to
their achievements last year. Sales went up by 15% to reach
SLR 973 million, while profit after tax increased by 22%
Ceylon Glass Company Limited (CGC) reported its un-audited results
for the quarter ended 30th Sep 2007.
Sales during the half year period were SLR 973 million, a growth
of 15% compared to sales of SLR 846 million during the same
period of the previous year. During this period, operating profit
grew by 24% to SLR 148 million as against 119 million. Profit
before tax too increased to SLR 126 million which represents
a growth of 20% over the 1st half of the previous year. More>>
Competitiveness
in business: Theme for Chambers' seminar
Daily
Mirror /Friday, 19 October 2007
The latest issue of The Global Competitiveness Report, published
by the World Economic Forum, will be released on the 31st of
October 2007. In assessing the competitiveness of countries,
this report includes The Global Competitiveness Index featuring
the12 pillars of competitiveness, The Business Competitiveness
Index, detailed country profiles and data tables covering more
than 100 social and economic indicators. This year a record
131 economies worldwide were polled.
The Ceylon Chamber of Commerce is organising a seminar on “How
Competitive is Sri Lanka for Business?” The seminar is
scheduled for the 1st of November 2007 at 3.45 p.m. at the Ground
Floor Auditorium of The Ceylon Chamber of Commerce, No. 50,
Navam Mawatha, Colombo 02.
The Global Competitiveness Report is widely used by investors
and policy makers all around the world. The report assesses
the competitiveness of countries based on hard data and an opinion
survey carried out among nearly 11,500 business executives worldwide.
More>>
Intimex
Global Team in ‘Know-How’ Campaign
Daily
Mirror /Thursday, 18 October 2007
Intimex Consulting, the globiz strategy consultancy servicing
the premium level market, just two months since launching of
its strategy cell in Colombo, is taking a valiant step in pursuing
an awareness campaign aimed at assisting Sri Lankan exporters
and potential exporters to bring about a sustainable change.
Nibras Bawa, the Chief of Intimex’s global operations
said there is just enough momentum in Sri Lanka and his company
is looking to serve the exporter community. “ Our exporters
should have a long term strategic perspective rather than ad
hoc hit and run thinking. In 2006 we had 703 billion rupees
through exports. Sri Lanka should aim to double this with a
strategic approach,” he said.
Intimex is organising a series of evening meetings from 18th
to 20th of this month, which will provide exporters with an
exclusive opportunity to meet the Intimex team in person and
obtain insights of the consulting capabilities which Intimex
Consulting possesses. Eminent business leaders and key decision
makers are expected to attend these sessions. Intimex team will
share their global insights and experiences in thought provoking
presentations which detail how Intimex Consulting can fuel global
growth, with the view to helping Srilankan exporters become
globally competitive world class organisations. More>>
NCCSL
meets Iraqi delegation
Daily
News /Thursday, 18 October 2007
The office bearers of the National Chamber of Commerce of Sri
Lanka, headed by the Deputy President Lal de Alwis met a delegation
comprising senior government officials and businessmen from
Iraq at the Chamber Auditorium on Friday October 12.
The
discussion between the two parties focused on the promotion
of trade and investment between the two countries for mutual
benefits.
The
Iraq delegation said there are opportunities in Iraq for Sri
Lankan in the field of construction and tourism. They could
also assist in oil exploration in Sri Lanka as they have the
technology.
They
could supply quality dates to Sri Lanka at very competitive
prices. C Lal de Alwis, Deputy President, NCCSL invited them
to set up manufacturing plants in Sri Lanka so that with 35%
value addition they could avail preferential tariff benefits
under Sri Lanka - India and Sri Lanka - Pakistan Tree Trade
Agreements.
NCCSL
could organise a One Country Exhibition to display their products
in Sri Lanka, Alwis said. More>>
Ceylon
Glass sales up by 15 per cent
Daily
News /Thursday, 18 October 2007
Ceylon Glass Co-mpany sales went up by 15 percent to 973 million
and the pProfit after tax was up by 22 percent to Rs 88 million
according to the Ceylon Glass Company Limited (CGC), un-audited
results for the quarter ended 30th Sep 2007.
Sales
during the half-year period were Rs 973 million, a growth of
15 percent compared to Sales of Rs. 846 million in same period
the previous year. During this period Operating Profit grew
by 24 per cent to Rs. 148 million as against 119 million. Profit
before tax too increased to Rs. 126 million, which represents
a growth of 20% over first half of previous year.
The
company’s performance in the second quarter ended 30 September
in its own showed a growth of 20% in sales. The profit after
tax in the second quarter grew by 29% as against the corresponding
quarter in the previous year.
CGC
has seen a continuous growth in its Export Sales over the past
few years. In the first half of the current financial year CGC’s
export sales are over 10% of the total sales, as against 5%
in the whole of previous financial year 2006/07. More>>
CNCI
forwards budget proposals
Daily
News /Thursday, 18 October 2007
Ceylon National Chamber of Industries (CNCI) representatives
headed by Chairman, A.K. Ratnarajah had a discussion with Dr.
P.B. Jayasundera,Secretary to the Treasury recently to discuss
the National Budget Proposal 2008 of Chamber.
Among
several proposals of CNCI towards the overall well being of
the economy of the country chamber also raised issues related
to the Industrial Sector and business community in particular.
CNCI announce the following matters received due consideration
by the Secretary to the Treasury at the said discussion.
Levy
of Witholding Tax on payments of Rs. 50,000/- and above Dr.
Jayasundera termed it as a ‘nusance tax’ enormously
increasing the work load of the business community as well the
Department of Inland Revenue and agreed to consider it to be
abolished.
Imposition
of CESS on finished goods which are being manufactured locally
but imported under the Indo Lanka Free Trade Agreement. Secretary
to the Treasury spoke in favour of this proposal too and agreed
to consider same. More>>
“Gold
Award” for Sunshine Tea value added exports
Daily
Mirror /Thursday, 18 October 2007
Sunshine Tea (Private) Limited, a leading tea exporter has been
bestowed with a “Gold Award” by the National Chamber
of Exporters for the firm’s sterling performance in value
added tea exports in 2006-2007.
Sunshine Tea is well known for its high quality products and
services. Sunshine Tea packs and exports quality Ceylon tea
for several leading brands which reach many destinations all
over the world.
Their commitment and effort to create and enhance value for
Ceylon teas has been recognised by this coveted award. Vish
Govindasamy, Managing Director, Sunshine Holdings received the
Award on behalf of the company which was also won a “Silver
Award” for bulk tea exports.
Sunshine Tea’s excellent track record has also contributed
to it being selected as the exclusive packer for the Sri Lanka
Tea Board.
The string of successes and achievements of Sunshine Tea Company
bear testimony to the ethics and high standards of quality maintained
by it. More>>
Farmers
keen on soil testing to reduce fertiliser cost
Daily
News/Wednesday, 17 October 2007
Anjana Samarasinghe in Dambulla
Local farmers are now more on to soil testing to reduce the
fertiliser cost in different cultivations.
Laboratory,
Quality Control and Location Manager of the CIC Agri Business
Centre Pelwehera Priyanga Dematawa said they have noticed a
considerable growth in soil testing in their lab.
"Many
tea smallholders are keen on doing soil testing before they
cultivate. There is an increased interest in vegetable and fruit
farmers to go for soil testing.
"Soil
testing allows growers to identify whether the cultivation they
have chosen is suitable for the soil. "If the cultivation
is not suitable for growers, they have to spend large amounts
of money for fertiliser, which will increase the production
cost of the harvest.
"Through soil testing we advise growers on the kind of
cultivations they should use and the ingredients they need to
add for better harvesting, Dematawa said. More>>
Lanka
sparkles at Malaysia International Jewelex Show
Daily
News /Tuesday, 16 October 2007
A record number of exhibitors and visitors at the Malaysia International
Jewelex 2007 (MJF 2007) held from October 4 to 7 at the Kuala
Lumpur Convention Centre (KLCC), propelled the event to unprecedented
success with both exhibitors and buyers reporting an increase
in business transactions during the four day show.
The
2007 edition was the largest in the Show's 13-year history and
set records in terms of visitors, exhibitors and exhibition
space.
It
will play host more than 100 prominent jewellers from over 15
different countries and regions namely, which attracts more
than 12,000 buyers from all over the world, including royalties
and socialities to further reinforce its position as the leading
jewellery exhibition representing the broadest range of product
categories, the utmost convenience and superior amenities.
The
"Sri Lanka Pavilion" at 'MJF 2007' was organised by
National Gem and Jewellery Authority (NGJA) for the second time.
The "National Pavilion" which displayed a glittering
array of Gems and jewellery from Sri Lanka presented by eight
members of the trade, attracted buyers from Malaysia and other
leading consuming countries. More>>
Global
rubber market to remain volatile
Daily
News /Tuesday, 16 October 2007
N. Yogaratnam (PhD, London - Consultant, National Institute
of Plantation Management)
Recent
estima- tes of the International Rubber Study Group (IRSG) indicates
that the total rubber consumption in the first seven months
of 2007 has increased to 22.07 million tonnes, the growth rate
being from 2% to about 4% on year-on-year growth basis during
the 7-month period.
Asia/Pacific
continued to lead in growth with increase in the region of 8.3%.
The sharp growth in Asia/ Pacific comes not only from China
but also from Malaysia, Thailand and Indonesia.
The
relatively rapid growth in NR as compared to SR consumption
has increasingly become evident in recent months. Global NR
consumption is estimated to have reached 9.62 million, a growth
rate of 5.3%, while SR reached 12.45 million tonnes with a growth
rate of 3%. More>>
Brandix
first to be Fair Trade and Organic certified for woven fabrics
Daily
News /Tuesday, 16 October 2007
Brandix Textiles, Sri Lanka's largest woven fabric processor,
achieved a national milestone recently when its plant at Makandura
in the Wayamba Industrial Zone became the first woven textile
operation in the country to receive Fair Trade and Organic certifications
from the Institute for Marketecology (IMO) of Switzerland.
The
organic certification takes the company a step closer to buyers
seeking to achieve environment compliance with the exacting
Global Organic Textile Standard or GOTS, while compliance with
IMO's Social and Fairtrade Programme will open up new markets
for its fabrics by providing consumers the option of purchasing
products according to their principles and values, the company
said.
The
Social and Fair Trade Certificate guarantees that disadvantaged
producers in the developing world in the entire supply chain
get a better deal by covering the producers' cost of sustainable
production and establishing a Fairtrade Premium which is invested
in social, economic or environmental improvement projects. More>>
Chamber
seeks incentives for micro industries
Daily
News /Tuesday, 16 October 2007
Lauding the Indian Government's sops to its small scale industries,
an apex trade body here has asked the Sri Lankan administration
to emulate its neighbour by offering incentives for the micro
industries in the country.
"Taking
a cue from India, the Government should support micro-industries
with non-tariff benefits and other incentives so that the small
and medium scale industries will benefit," the Sri Lankan
Chamber of Small Industries Secretary Rohan de Silva said.
During
a meeting here on Saturday, he also said the Government should
introduce substantial non-tariff barriers on the import of finished
goods to protect and boost local manufacturers and industries.
In
its budget wish list for 2008, the Chamber has sought reduction
in tax for the micro-industries to 10 per cent from the present
15 per cent and increase in threshold limit for imposing VAT
for those small industries whose annual turnover is less than
is five million. More>>
CCC
Seminar on 'How Competitive is Sri Lanka for Business?'
Daily
News /Tuesday, 16 October 2007
The latest issue of The Global Competitiveness Report, published
by the World Economic Forum, will be released on the 31st of
October.
In
assessing the competitiveness of countries, this report includes
The Global Competitiveness Index featuring the 12 pillars of
competitiveness, The Business Competitiveness Index, detailed
country profiles and data tables covering more than 100 social
and economic indicators. This year record 131 economies worldwide
were polled.
The
Ceylon Chamber of Commerce is organising a seminar on "How
Competitive is Sri Lanka for Business". The seminar is
scheduled for the 1 November at 3.45 p.m. at the Ground Floor
Auditorium of The Ceylon Chamber of Commerce, Colombo 02.
The
Global Competitiveness Report is widely used by investors and
policy makers all around the world. The report assesses the
Competitiveness of countries based on hard data and an opinion
survey carried out among nearly 11,500 business executives worldwide.
More>>
Business
Tea Report
Daily
News /Monday, 15 October 2007
Bartleets weekly tea surveillance upto October 10:
High
prices for BOPF category
THIS WEEK'S auction witnessed 4.806m kg of teas traded of which
0.556m kg were ex-estate teas. Once again, crops are down from
last week's 4.989m kg making it the eight straight week of falling
supplies.
The
ex-estate teas continued on with its upward movement with the
BOPF reaching dizzy highs of Rs. 405 and the BOP Rs. 380 per
kilo. Behind the strong demand were shipper to Russia where
the winter buying is closing in to spur higher consumption.
A
number of exporters to Japan, US, UK and Europe were also active
during the sale. However, the key factor in the current high
prices is the currently low quantities arriving at the auction.
Commentators view the trend as essential short-term and expect
that as quantities recover, prices, will once again normalise.
More>>
Invests
Rs. 110 m on new rice mill:
CIC
brand rice to capture world market
Daily
News /Monday, 15 October 2007
Anjana SAMARASINGHE in Dambulla
The
CIC Agri Businesses a member of the CIC Group will export new
varieties of rice to France and Australia under the CIC brand.
Laboratory,
Quality Control and Location Manager of the CIC Agri Business
Centre, Pelwehera, Priyanga Dematawa said the company has four
rice varieties for the export market and has planned to introduce
a new red rice ‘Basmathi’ and a new coloured rice
variety to the international and local market next month.
These
two rice varieties were specially targeted at up markets and
there is a good demand for these types of rice varieties in
the international market, he said. More>>
MAS
launches Sri Lanka’s first privately owned industrial
fabric park
Daily
News /Monday, 15 October 2007
MAS Holdings will inaugurate the country’s first state-of-the-art,
privately owned industrial fabric park - the MAS Fabric Park
(MFP), in Thulhiriya on Friday.
President
Mahinda Rajapaksa will be the chief guest. Located in Thulhiriya
, the 165 acre MFP (former Kabool Lanka complex) is designed
to attract apparel, fabric and accessories manufacturers into
Sri Lanka, thereby positioning the country’s apparel sector
as a one-stop-shop for apparel solutions.
MFP’s
shared infrastructured and services model facilitates a plug
and play option for businesses to commence operations with minimal
investment of time and resources, a lean and cost competitive
environment with a 90 minute location advantage to the port,
single window of clearance for cargo, on-site BOI assistance
and readily available pool of skilled human resources, chairman
Holdings Mahesh Amalean said. More>>
Sri
Lanka sparkles at Malaysia Intl. Jewelex Show 2007
Daily
Mirror /Monday, 15 October 2007
A
record number of exhibitors and visitors at the Malaysia International
Jewelex – 2007 (MJF 2007) held from October 4 –
7, at the Kuala Lumpur Convention Centre (KLCC), propelled the
event to unprecedented success with both exhibitors and buyers
reporting an increase in business transactions during the four
day Show.
The 2007 edition was the largest in the Show’s 13 year
history and set records in terms of visitors, exhibitors and
exhibition space. It will play host more than 100 prominent
jewellers from over 15 different countries and regions namely,
which attracts more than 12,000 buyers from all over the world,
including royalties and socialites to further reinforce its
position as the leading jewellery exhibition representing the
broadest range of product categories, the utmost convenience
and superior amenities.
Malaysia is the hub of the Far East with Chinese, Malay and
Indian Communities living there among whom both White Gold and
Yellow Gold Jewellery is very popular. Gem imports to Malaysia
enjoy duty free status while a 10% duty is applicable on jewellery
imports. Malaysia is the largest investor in Sri Lanka and Gems
and Jewellery are Sri Lanka’s biggest export commodity
to Malaysia. More>>
Watawala
Plantations bags HACCP, SGS certification
Daily
Mirror /Monday, 15 October 2007
The
Managers of the respective Estates Messrs Dilip Ambanpola and
Bandula Pelpola received their certificates on the 3rd October
‘07 from the Chairman Sri Lanka Standards Institution
(SLSI) Dr. A. R. L. Wijesekara at a ceremony held at their Board
room in the presence of a distinguished gathering that comprised
the Director General SLSI M/s Shirani G. Weragoda, Deputy Director
General SLSI Dr. L. N. Senaweera, Director Quality Assurance
SLSI Major B. Sarath de Silva, Director Laboratory Services
SLSI Mr. T Sunil Amarawansa and Director Marketing and Promotion
SLSI Mr. Wasantha Meewaddana. The Company was represented by
their Senior Manager Quality Assurance Mr. Ronnie Almeida and
Marketing Executive Mr. Uditha Karunaratne. More>>
Amunugama
discusses bilateral economic relations with Vietnam
Daily
Mirror /Monday, 15 October 2007
Dr
Sarath Amunugama, Minister of Enterprise Development and Investment
Promotion, held discussions in Seoul with Mr Phuc-Vo-Hong, Minister
of Planning and Investment of Vietnam.
At this meeting, Dr Amunugama and Mr Phuc- Vo- Hong exchanged
ideas on bilateral economic relations, especially dealing with
investment. The Vietnamese Minister extended an invitation to
Sri Lankan investors to visit Vietnam. More>>
FCCISL
Awards in November
Daily
News /Monday, 15 October 2007
The Federation of Chambers of Commerce and Industry of Sri Lanka
(FCCISL) will organise the Sri Lankan Entrepreneur of the Year
2006 for the 12th year.
It
will be held on November 30 at the BMICH.
“This
is the most broad based event of recognising entrepreneurs located
islandwide, the FCCISL will stage regional events of Sri Lankan
Entrepreneur 2006, culminating with the grand show, the national
event, which will undoubtedly be a success this year too”
FCCISL President, Nawaz Rajabdeen said.
Suntel
Ltd is the main sponsor of the event.
The
FCCISL has been organising this awards presentation to recognise
and appreciate the best National Entrepreneur since a long period.
In
assessing the best entrepreneur in the country, their finance
strength, management techniques, number of employees, the extent
of using technology, competitiveness and future planning are
core to the selection, among other criteria. More>>
CII
EXCON 2007 road show in Colombo
Sunday
Times /Sunday October 14, 2007
The Confederation of Indian Industry (CII) is organising Excon
2007, India's largest and only focused construction equipment
and construction technology trade fair, in association with
Indian Earthmoving and Construction Industry Association Ltd
(IECIAL), at Bangalore to be held from November 14 and 18, 2007.
This five-day exhibition is expected to attract 300 exhibitors
and 55,000 business visitors across the globe.
Addressing
a road show on Excon 2007 organised by the CII in association
with the Ceylon Chamber of Commerce (CCC) last Tuesday, Rajitha
Senaratne, Sri Lanka’s Minister for Construction and Engineering
Services, said "there is plenty of potential for expanding
the bilateral trade between Sri Lanka and India. In order to
exploit this potential, both countries need to look at broader
areas for cooperation, including the construction sector".
Vipin
Sondhi, Chairman, EXCON 2007 and Managing Director and CEO,
JCB India Ltd in his presentation on Excon 2007 said, "Excon
is Asia's third largest trade fair for equipment industry and
amongst world's top 10 construction equipment and construction
technology trade fairs". He said India is increasingly
becoming the construction equipment and component sourcing base
for the construction equipment and hence the construction and
infrastructure sector in Sri Lanka can utilize Excon 2007 to
identify potential business partners for sourcing construction
equipment / technologies. More>>
CII
Excon 2007 Road Show in Colombo
Daily
News /Friday, 12 October 2007
Confederation of Indian Industry (CII) is organising Excon 2007,
India's largest and only focused construction equipment and
construction technology trade fair, in association with Indian
Earthmoving and Construction Industry Association Ltd (IECIAL),
at Bangalore to be held from November 14 to 18. This five-day
exhibition is expected to attract 300 exhibitors and 55,000
business visitors across the globe.
Addressing
a Road Show on Excon 2007 organised by the CII in association
with Ceylon Chamber of Commerce (CCC), Minister for Construction
and Engineering Services, Rajitha Senaratne, said that there
is plenty of potential for expanding the bilateral trade between
Sri Lanka and India.
"In
order to exploit this potential, both countries need to look
at broader areas for cooperation, including the construction
sector," he said.
Minister
Senaratne said under the Free Trade Agreement (FTA) with India,
Sri Lanka has tremendous potential to enhance its trade with
India. Excon 2007 would give a fillip in enhancing the trade
between the two countries especially in the construction equipment
sector. More>>
Lanka
Walltile records Rs.5b turnover
Daily
News /Friday, 12 October 2007
Lanka Walltile had another year of
exceptional performance during 2006/2007 with the Group turnover
crossing the Rs. 5 billion milestone by achieving Rs. 5.7 billion
turnover which was a 17.8 per cent improvement over the previous
year.
Chairman
Anthony A. Page, in his review said that Group profit after
tax was a healthy Rs. 375 million which was a 31 per cent increase
over the year 2005/2006.
The
Ceramic Sector in the Group performed creditably well during
the year.
This
growth was in the backdrop of rapid increase in energy prices
during the year.
Consequently
the cost of energy as a percentage of total cost has increased
from 25 per cent in 2005/2006 to 31 per cent in 2006/2007,’
Page said. More>>
Dr.
Amunugama holds discussions with Vietnam Minister
Daily
News /Friday, 12 October 2007
Minister of Enterprise Development and Investment Promotion
Dr Sarath Amunugama, held discussions in Seoul with Phuc-Vo-Hong,
Minister of Planning and Investment of Vietnam.
At
this meeting, Dr Amunugama and Phuc- Vo- Hong exchanged ideas
on bilateral economic relations, especially dealing with
investment. The Vietnamese Minister extended an invitation to
Sri Lankan investors to visit Vietnam.
Dr.
Amunugama was representing Sri Lanka at the Ministerial Conference
on Private Public Partnership (PPP) for Infrastructure Development
where Cabinet Ministers of many Asia Pacific region countries
participated. More>>
CII
Excon 2007 Road Show
Daily
News /Thursday, 11 October 2007
THE CONFEDERATION of Indian Industry (CII) is organising Excon
2007, India’s largest and only focused construction equipment
and construction technology trade fair, in association with
Indian Earthmoving & Construction Industry Association Ltd
(IECIAL), at Bangalore to be held between November 14 and 18.
This
five-day exhibition is expected to attract 300 exhibitors and
55,000 business visitors across the globe.
Sri
Lanka has tremendous potential to enhance its trade with India.More>>
Nature’s
Secret gears up for global expansion
Daily
News /Thursday, 11 October 2007
By Sherwani Synon
Nature’s Beauty Creations, the sole manufacturer of Nature’s
Secret is committed to globalizing their products in countries
in the East European region this year and also hopes to expand
their operations in the cosmetic industry in India, Bangladesh,
South Asian countries and Middles East countries where they
already export their 100% Sri Lankan herbal cosmetics.
Speaking with the Daily Financial Times during an interview
the Managing Director of the Multichemi Group, Samantha Kumarasinghe
said that the Company’s goal for this year was to promote
Nature’s Secrets products abroad as they are geared up
their capacity to meet sufficient demand.
“We
have invested Rs.350 million and constructed a new factory and
building for nature’s Beauty Creation and also built a
nursery to grow medicinal plants with the hope of promoting
our products in countries in the East European region and to
expand our cosmetic industry in India, Bangladesh, Middle East
countries and south Asian countries where at the moment demand
is higher than what we can supply.” More>>
Responsibility
of all to optimize use of energy:
Daily
News /Thursday, 11 October 2007
Saving
energy begins at home
As
we all know at present Sri Lanka has faced several problems
with regard to the availability, use and prices of different
energy sources used in the country.
The
responsibility of all consumers is to try to optimize the use
of energy at the individual household level and this will contribute
to mitigate the energy crisis at national level. This article
attempts to draw your attention to different ways that the efficiency
of energy use can be improved at the household level.
Use
of energy efficient appliances:
Suppose
you want to buy a refrigerator. The best to buy is the fridge
with the lowest price; is it a correct decision? Not really.
How much an appliance costs depends on 3 things; purchase price,
repair and maintenance cost and energy cost. To estimate how
much you will spend on an appliance over time, you have to consider
all these costs.
Energy
efficiency is an important part of any decision. What makes
one appliance more efficient than another? Most of the differences
are on the inside. Even if two models look the same, certain
features can mean a big difference in your energy bills. More>>
Cuba,
a strong market for Lankan products
Daily
News / Wednesday, 10 October 2007
Cuba is a potential market for Sri Lankan products and exporters
should explore this market, Cuban Ambassador Enna Viant said.
Addressing
The Ceylon Chamber of Commerce (CCC) members on expansion of
trade ties between the two countries she said garments, textiles,
spices, rubber and rubber products, coconut products, gems and
jewellery, pneumatic tyres and foodstuff are some of the products
that would be of interest to the Cuban market.
The
Ambassador stressed on the expansion of two way trade between
Sri Lanka and Cuba. She felt that the 25th Havana International
Fair would be the ideal forum for the Sri Lankan business community
to visit Cuba.
This
fair will comprise over 1125 stalls from 48 countries and is
expected to attract over 200,000 visitors.
She
also briefed on the Non Aligned Movement Summit scheduled from
November 2 and 3, which will be followed by the Havana International
Fair scheduled from November 5 to 10, 2007. More>>
Pepper
exports from Sri Lanka likely to increase
Daily
News / Wednesday, 10 October 2007
Members of Spices and Allied Products Producers and Traders'
Association (SAPPTA) are pleased to learn from a press release
issued by Director Export Agriculture Department Dr. Ilangasinghe
that an allocation of Rs. 80 million has been received from
the State to enhance the development of agricultural export
crops.
A
new investment aid system enabling the farmers to obtain plants
and other essentials free soon as the land is prepared for crop
cultivation, will also be introduced.
Past
Chairman of SAPPTA and the convenor of the sub committee on
pepper Gulam Chatoor is of the opinion that there is a great
demand for pepper from Sri Lanka with no problem in marketing
the spices in the world markets.
Exports
of pepper from Sri Lanka, he said have been in the region of
around 7500 tonnes as against the world trade of around 200,000
tonnes, hence there is considerable scope to increase the volume
of pepper exports, in particular. More>>
Pakistan's
potential in dates export
Daily
News / Wednesday, 10 October 2007
Date palm is well known for its nutritional and therapeutic
qualities. It has very high fruit contents of carbohydrates
(about 65-75 per cent). On the basis of nutritive value, it
may yield three times more food per unit area than wheat.
One
kilogramme of date can supply human body with 2500-3000 calories
of energy. In addition, the fruit is easily digestible, promotes
more blood formation and also possesses protein, fat, salts,
carbohydrates and vitamins in an easily assimilative form.
The
fruit is a good source of vitamin A, B and C and has high mineral
contents. According to a bulletin on food composition issued
by the US Department of Agriculture, dried Dates contains 1.9
per cent protein, 70.6 per cent carbohydrates, 2.5 per cent
fat, 13 per cent water, 1.2 per cent minerals and 10 per cent
fibre. More>>
New
BoI venture making high end shirts
Daily
News / Wednesday, 10 October 2007
At a time when garments are often mass-produced to meet the
high demand of consumers, a new company, Tailor Store International
(Pvt) Ltd stands out by manufacturing goods for a selective
and discerning clientele. This company, Tailor Store Private
(Ltd) opened a State-of-the-Art factory under the Nipayun Sri
Lanka Programme of the Board of Investment of Sri Lanka on September
29 at Alawwa.
Customers
for these high-end shirts can order them online, indicating
details such as neck size, length of sleeves in addition to
their choice of cloth, buttons, and thread. The shirts made
by the company are therefore custom manufactured. They are exported
to the Swedish and European markets.
The
company itself is both local and foreign owned. They are sold
from a distribution center in Sweden. This new project represents
an investment of Rs. 54 million and will create 250 job opportunities
in the area. More>>
Brandix Activewear lays foundation for second Centre
of Inspiration
Daily
Mirror / Wednesday, 10 October 2007
Sri
Lanka’s globally significant apparel group Brandix launched
its bid to be a globally dominant player in chosen new categories
with the commencement of construction of a Rs.280 million central
services facility for the Group’s Activewear companies
in Sri Lanka and India.
Located at Ratmalana, the 61,000 square foot purpose-designed
Brandix Centre of Inspiration – Active, will be the nucleus
for the manufacturing operations of Brandix Activewear at Ratmalana
and Koggala in Sri Lanka and those of Brandix Apparel India
at Vizag. This centre will support a projected turnover in excess
of US$ 200 million. More>>
Stage
set for Presidential Export Awards 2006
Daily
News /Tuesday, 9 October 2007
THE EDB successfully completed the 2005 Presidential Export
Awards held on August 23 at the Presidential Secretariat under
the patronage of President Mahinda Rajapaksa.
The
EDB has called applications from companies for export performance
in year 2006 on three categories to consider rewards.
They
are
*
Non-traditional Products and services, * Service Providers to
the export Sector, * Net Foreign Exchange Earnings.
The
Presidential Export Awards Scheme recognised by the nation is
the most prestigious Export Scheme sponsored by the Government.
It is on par with award schemes implemented in other countries
to assess the achievements of the business community.
The
Queens award scheme - U.K., the Presidential Awards, U.S.A.
- The Canadian Export Awards Scheme - The Australian Export
Awards Scheme, Indian Presidential Export Awards and Pakistan
Presidential Awards Scheme are some mechanisms of recognition
of the great achievements of the export community.
The
Presidential Export Awards (PEA) Scheme was formulated by the
Sri Lanka Export Development Board (EDB) to recognise and reward
the outstanding performance of exporters and service providers
for their export efforts in improving the national economy.
More>>
Fibreplast
exports snow sledges to Norway
Daily
News /Tuesday, 9 October 2007
FIBREPLAST PVT Ltd a subsidiary company of Modern Fibreglass
Industries Pvt Ltd, signed a MOU with a Norwegian company Vedlikeholds
Teknikk AS to manufacture and export fibreglass snow sledges.
The
agreement was signed by Vice President/CEO of Fibreplast Hatem
Rajabdeen and Managing Director of Vedlike Teknikk AS Steiner
Moe recently.
This
was during Rajabdeen's visit to as part of a Ceylon Chamber
delegation to Norway last week.
The
agreement was facilitated under the Sri Lanka-Norway Industrial
Cooperation (Matchmaking) programme which is part of NORAD and
Ceylon Chamber of Commerce. Project Manager of the Programme
Ushantha Ekanayake, said this was the 52nd collaboration between
Sri Lankan and Norwegian companies under the above programme
which has been successfully in operation over the last 12 years
initiating 57 technical co-operations and 23 Trading co-operations.
More>>
World
Spice Congress in Goa
Daily
News /Tuesday, 9 October 2007
The World Spice Congress, which has been organised jointly by
the Spices Board of India and the All India Spices Exporter's
Forum since 1990, will take place for the ninth time in Goa
from January 28 to 30, 2008.
Contemporary
issues like opportunities for investments in spices and seasoning
industry, the role of regulators in balancing food safety concerns
and trade aspects, global harmonisation in spice-related trade
matters and improvement in farming practices will be the key
topics that have been planned for discussion in the ninth congress.
Like
the previous years, this time, too, business sessions in the
congress will be structured to enhance the knowledge of businessmen
about the contemporary global scenario in the cultivation and
marketing of spices across the world.
That
way, the congress will provide them with a forum for not only
business transactions but also serve as a meeting ground for
an intellectual exercise, a senior official of the Spices Board
said. More>>
Forbes
and Walker Tea Award ceremony held
Daily
News /Tuesday, 9 October 2007
Forbes and Walker Tea Broker (Pvt) Limited held its 125th anniversary
of tea brokering in year 2006.
An
award ceremony was held recently to commemorate the event. Kalubowitiyana
Manager Basil de Simon won the Best Award for 2005 and 2006
in the All Island Highest Sales Average category. Highest Sale
Average in the CTC low grown category, most Numbers of top prices,
Highest Sale Average in Galle Agro Climatic sub district and
All Time Record Price per kilogram were taken into consideration
at the selection.
Kalubowitiyana
was awarded the Transworld Gold Star Award and the Gold Medal
at an award ceremony held in 1999, in New Delhi India, for Excellence
in Productivity, Quality Innovation and Management. More>>
Tea
Research Institute to promote organic fertiliser
Daily
News /Tuesday, 9 October 2007
Ramani Kangaraarachchi
The
Tea Research Institute (TRI) is looking at alternative measures
to overcome the situation that has arisen due to the rising
cost of fertiliser.
Chairman
TRI, Dr. Gerry Jayawardena said arangements have been made to
encourage tea cultivators to use organic fertiliser and to promote
maximum residual levels.
The
continuous incr-ease of fertiliser prices has put the tea industry
in a dilemma and the industrialists fear that the country will
lose in billions of foreign exchange in the future due to poor
yield as the tea cultivators are not using the recommended quantity
and quality of fertiliser to tea plants.
Sri
Lanka exports 300 million kg of tea every year but industrialists
doubt whether they would be able to produce sufficient tea in
the event of the yield going down due to poor fertilising. More>>
FCCISL,
BCIS partnership to train businessmen on peace
Daily
News /Tuesday, 9 October 2007
Hathoon Sheriffdeen
The
Federation of Chamber of Commerce and Industry of Sri Lanka
(FCCISL) and the Bandaranaike Centre for International Studies
(BCIS) have tied up to train the business community on peace
building.
This
agreement is made to acknowledge the leaders and entrepreneurs
in conflict ridden areas. They are the first hand communicators
with the people with disputes. "We think that it's worth
to educate the business community," Secretary General,
FCCISL, Samantha B. Abeywickrama, said.
"We
have already trained 40 entrepreneurs from North and East on
identifying conflict areas and reasons for disputes. I would
say that was an interactive programme than a lecture programme.
Its much different to train people in Colombo on conflict of
disputes and peace building." More>>
World
Export Forum opens in Switzerland
Daily
Mirror /Monday, October 08, 2007
Over
100 countries represented
ITC’s
World Economic Development Forum Global Debate will be held
in its traditional home of Montreux, Switzerland from 8-11 October
2007, with participation from over 100 countries. This year’s
debate will focus on the theme: “Bringing Down the Barriers:
Charting a Dynamic Export Development Agenda”.
Increasingly, countries and states are competing in a world
with lower trade barriers and increasing competition, with smarter
and more demanding customers / investors. Global boundaries
are also becoming blurred and global media has exploded, disseminating
information faster and to a wider cross section of audiences.
WTO Director General Pascal Lamy will be delivering the keynote
address. MTI’s Hilmy Cader will be directing the thought
leadership on Winning National Export Strategies – in
the context of a holistic Country Strategy.
MTI Consulting is currently working on an intensive Export Strategy
assignment for the Government of Pakistan, which has attracted
interest from the ITC and MTI (along with the Pakistan Delegation
headed by the Pakistan State Minister Mr. Tariq Ikram) will
be meeting ITC in Switzerland. Due to the increasing number
of participants, the facilities required and the enhancement
of the event, the venue for this year's debate will be the Raffles
Le Montreux Palace Hotel. More>>
Turkey-Sri
Lanka ties strengthened to explore business opportunities
Daily
Mirror /Monday, October 08, 2007
By
Damayanthi Hewamanna
Enterprise Development Acting Minister Mano Wijeyeratne stated
that it is a great step taken by the Confederation of Businessmen
and Industrialists of Turkey (TUSKON) to strengthen ties between
the Sri Lanka and Turkey.
“We
have seen that Turkey has a very healthy balanced economy and
it has a very strong private business sector while the state
sector plays a major role in banking, transport and communication”,
the Minister added. The Sri Lanka Turkey trade relations over
the past years have recorded a gradual increase but there are
several areas both countries could further explore for mutual
benefit.
Tea has been our main export commodity to Turkey during the
last five years which recorded a drop in 2006 which reflects
and opportunity for Sri Lanka to promote its tea more vigorously
in Turkey to regain the lost market and possibly capture a larger
share.
Turkey being the world’s sixth largest cement producer
and the second largest flat producer could have a potential
market in Sri Lanka.
At present there is a boom in the construction industry here
and with the introduction of rapid development programme launched
by the government under President Mahinda Rajapaksa, Wijeyeratne
further added. More>>
Diamond
Cutters largest exporter of tapers
Daily
News /Monday, October 08, 2007
Ganga PRADEEPA
DIAMOND
CUTTERS Limited (DCL) has won the trust of many international
markets and among them the leading watch companies and up market
jewellery manufacturers who have become valued clients.
Belgium,
USA, Japan, Switzerland and Israel are some of the main clientele.
Today
with over 600 employees to respond to the changes in the diamond
market, DCL are into manufacturing of Baguettes, Rounds, Sawing,
Princess and Precision cut diamonds.
DCL
has been a continued contributor to the national economy bringing
foreign currency in to the country with a 22 per cent growth
since the last financial year. DCL is expanding its business
and is to become the largest diversified Diamond Manufacturer
of South East Asia. More>>
Tea
Report
Daily
News /Monday, October 08, 2007
Bartleets Weekly Tea Surveillance Report up to October 3:
Strong
demand for BOPFs with tea bags to CIS
THIS week’s auction witnessed a quantity of 4.989mkg arriving
at the Colombo Auction, down from the 5.427mkg traded during
the previous sale. Quantities have been slowly but steadily
declining now for seven consecutive sales. Of this week’s
crop, 0.608mkg were Ex-estate teas.
The
Leafy-grade market was on the whole firm to dearer. The OP1
grade that established a new all-time record last week proceeded
to further top it by another Rs. 20 this week.
Shippers
to the CIS and the European destinations were visibly active
and with the future sale offerings continuing to dip below five
million kilos, the local buyers were struggling to covers their
quantities.
The
Tippy market also met with overall strong demand. Dubai and
Iran were very active whilst the CIS, Turkey and Saudi Arabia
were moderately active. Lack of availability was a concern.
In
the Ex-estate segment local tea-bag packers to the CIS played
a strong role which in turn led to strong demand for the BOPFs.
More>>
Lankan
garment industry urges exchange rate, inflation control
Sunday
Times /Sunday October 7, 2007
By Dilshani Samaraweera
Sri
Lanka’s garment industry says it needs exchange rate stability
and the rate of inflation brought down, to do business.
“The
rate of inflation needs to be brought down to at least 10 percent
– 12 percent minimum, over the next 6 months. It needs
to be brought down to a single digit, but immediately, this
minimum level needs to be met. The other important thing is
exchange rate stability. With the rupee depreciating at this
rate companies cannot plan for the future,” said Ajith
Dias, Chairman of the Joint Apparel Association Forum (JAAF),
the garment industry representative body.
The
garment export trade is not the only business hurt by the rate
of inflation. Tea industry representatives told The Sunday Times
FT recently that tea exporters are finding it increasingly difficult
to compete in global markets because of rapidly increasing domestic
costs of production.
The
strain is already telling on the garment sector. Over the past
18 months the garment sector saw about 100 small and medium
factories closing down, according to the JAAF. The industry
that had about 800 factories operating at one time is now estimated
to have between 350 to 400 factories. More>>
Return
of the ‘World Spice Food Festival’ in Sri Lanka
Sunday
Times /Sunday October 7, 2007
The World Spice Food Festival, the biggest food festival of
the year in Sri Lanka, is back again by popular demand, the
organisers said.
Organised
by the Sri Lanka Tourist Board, this event has become an annual
fixture that enlivens Colombo with a veritable jamboree of unique
culinary experiences. Encouraged by the tremendous response
and positive feedback from visitors to the fair in the past,
this year too the event is organised by the Corporate Services
Division of the Tourist Board together with the five star hotels
and top restaurants in the city.
It
will be held from October 18-28. Each participating hotel and
restaurant will conduct a food festival for one week in one
of their restaurants, where world class chefs will be flown
in from different different countries who are specialists in
the cuisines on offer.
A
spectacular highlight of the main event of the festival is the
‘Hawker Street’, to be held on October 19-20 at
the Nomads Grounds, allowing visitors to the festival the ease
and facility of browsing through the food stalls along with
friends and family. HSBC is once again the main sponsor of the
event. More>>
Business
leader calls for a good policy framework for tea
Sunday
Times /Sunday October 7, 2007
The 33rd Annual General Meeting of the Federation of Chambers
of Commerce and Industry of Sri Lanka (FCCISL) saw a business
leader advocating a good policy framework for the major export
crop – tea - to help stabilise the tea industry and avoid
challenges in the international market.
“The
establishment of the United Nations Conference on Trade and
Tariff has been able to bring about a high degree of stability
in the international prices regime of tea, rubber and coconut,”
Nawaz Rajabdeen, the incumbent President who was re-elected
the President for 2007/2008, for a third consecutive year, said.
He
said that despite the setbacks created by the energy costs,
the performances in the business sector, specially the service
and industrial sectors has been a source of encouragement to
the entire country.
He
stressed the importance of monitoring of Free Trade Agreements
(FTAs) with India and Pakistan. “India presents a glowing
picture of growth, but Sri Lanka needs to look at it closely
in terms of exports, so as to examine the reciprocity which
should be one of the main features of an FTA,” he said.
More>>
Lankan
delegation to visit Construct Canada in November
Daily
news /Friday, 5 October 2007
The Sri Lanka-Canada Business Council of the Ceylon Chamber
of Commerce and the Canadian High Commission in Sri Lanka is
organising a delegation to attend the Canada’s largest
annual trade exposition of products, services, technologies,
which will be held from November 28 to November 30 at the Metro
Toronto Convention Centre, South Building concurrently with
PM Expo, Concrete Canada.
Attendees
of Construct Canada will have the opportunity to meet engineers,
architects, developers, contractors, distributors, and buyers
from over 24 countries in the Far East, Europe, Central America,
South America and Africa, in the fields of design construction,
retrofit & renovation of office, high-rise residential,
industrial, medical, educational, and institutional buildings.
Over
450 seminars, 200 presentations will be held and 1,100 exhibits
will be showcased to over 23,000 international exhibitors, 150
leading industry professionals and participants during this
event. More>>
StocExpo
Asia oil trading conference
Daily
news /Friday, 5 October 2007
Hiran Senewiratne in Singapore
StocExpo
2007 one of the Asia’s leading oil refining and oil trading
conference and exhibition was held in Singapore on October 2
and 3 at the Suntec Expo Singapore.
This
type of event is important for every country especially for
Sri Lanka as it is now in the process of exploring the petroleum
resource in the future.
The
event was able to attract all the stakeholders including terminal
operators and bulk liquid producers from throughout Asia to
gain insight into the latest developments in the regulatory
processes, best practices and technological developments affecting
the storage of petroleum products and petrochemicals.
The
papers from senior representatives of some of the region’s
key operators and suppliers facilitated discussion and knowledge
sharing to enable safer, more efficient and more cost -effective
management of tank farms. More>>
CIC
agri businesses rated ‘First Business Superbrand’
Daily
News /Friday, 5 October 2007
CIC Agri Businesses, the trendsetter in Sri Lanka’s Agriculture
Sector has been rated the country’s first “Business
Superbrand” in the sector by the Superbrands Organisation,
an independent authority on branding that focuses on identifying
and paying tribute to exceptional brands around the world.
Superbrand
analyses products and service categories across geographies
in order to identify and award brands performing above and beyond
competitors. The Business Superbrand programme highlights and
showcases the outstanding businesses that have achieved a level
of excellence in their field.
As
an Organisation that has made every effort to enhance farmer
income, improve the rural economy and contribute towards the
nation’s agriculture sector, CIC Agri Businesses is privileged
to be bestowed with this honour. More>>
Global
natural rubber market will continue to remain volatile
Daily
Mirror /Friday, 5 October 2007
By
N. Yogaratnam ( PhD, London)
Consultant, National Institute of Plantation Management
Recent estimates of the International Rubber Study Group ( IRSG)
indicates that the total rubber consumption in the first seven
months of 2007 has increased to 22.07 million tons, the growth
rate being from 2% to about 4% on year-on-year growth basis
during the 7-month period.
Asia / Pacific continued to lead in growth with increase in
the region of 8.3%. The sharp growth in Asia/ Pacific comes
not only from China but also from Malaysia, Thailand and Indonesia.
The relatively rapid growth in NR as compared to SR consumption
has increasingly become evident in recent months. Global NR
consumption is estimated to have reached 9.62 million, a growth
rate of 5.3%, while SR reached 12.45 million tons with a growth
rate of 3%. More>>
Workshop
on Family Businesses Going Public
Daily
Mirror /Friday, 5 October 2007
The
Colombo Stock Exchange (CSE), in association with the Ceylon
Chamber of Commerce, has organised a workshop titled 'Family
Businesses Going Public - What's needed to make it work', for
decision-makers of unquoted family-owned companies.
Given the transformations in the business environment characterised
by intense competition and the growth needed to sustain the
business profitably, family owned companies face unique challenges
and need to address the issues of professionalism and professional
leadership.
The workshop will be an ideal forum for family owned businesses
to gain an insight on important factors in running and sustaining
a family business. Participants will be able to learn how to
turn barriers into opportunities, the power of sharing control
with outsiders and how transparency will professionalize your
business.
This interactive workshop will also deal with the issue of attracting
and retaining talent, selection of non executive directors,
working with non family executives and the changing role of
the family in the business and developing effective family business
governance. More>>
National
Chamber of Export Awards 2007
Daily
Mirror /Friday, 5 October 2007
By
Kurulu Kariyakarawana
Loadstar (Pvt) Ltd won the Gold Award for “Most Outstanding
Exporter,” of the 15th Annual National Chamber of Export
Awards which was held in a grand gesture at the Hilton Colombo
last Friday.
Chairman Loadstar (Pvt) Ltd Dr. Nihal Jinasena received the
award from the Chairman of Sri Lanka Telecom Mobitel (Main Sponsor)
Asoka Weerasinghe de Silva whilst bagging two other Gold Awards
for “Most Outstanding Exporter – Sector wise”
and “Industry - Extra Large Category”.
“Most
Outstanding Exporter – Runner Up” award was presented
to Colombo Dockyard Ltd received by its CEO/MD Mangala P B Yapa.
“Best
Sri Lankan Brand Exporter” award was bagged by Imperial
Teas (Pvt) Ltd, which was received by its Managing Director
Jayantha Karunaratne. More>>
Business
agriculture
More rubber products for export
Daily
News /Thursday, October 04, 2007
Ramani Kangaraarachchi
The
Rubber Development Department with the assistance of the Industrial
Development Board is to introduce fifty new small scale entrepreneurs
to the industry within this year to manufacture more rubber
products for export.
Director,
Rubber Products Development and Service Centre A.L. Chandrasiri
said Sri Lanka uses only 70 per cent of total natural rubber
for products and the balance 30 per cent goes to the export
market as raw material depriving the country from receiving
a large amount of foreign exchange. The Government has made
arrangements to export the total rubber production as finished
products.
As
an initial step, the first 50 people selected will be trained
in five areas to manufacture rubber products such as rubber
bushes, rings, seals, rubber and metal mixed products and rubber
toys.
The
participants only will have to pay 25 per cent of the course
fee and 75 per cent will be met by the Rubber Development Department.
This will be an annual program in the future according to the
Director. More>>
CCC
Import Section ‘Pre-Budget Discussion’ today
Daily
Mirror /Thursday, October 04, 2007
In keeping with the objective of promoting, co-ordinating and
supporting the interests of importers, the Import Section of
the Ceylon Chamber of Commerce (CCC) would be hosting its Annual
Pre-Budget Discussion at 9.00 am today at the CCC Auditorium.
The objective of this discussion is to understand the macro
and industry specific economics plans for 2008, the general
outlook of the budget proposals and whether the budget meets
with the expectations of the business community.
The pre-budget discussion would commence with Mr. Mahen Dayananda,
Chaiman, The Ceylon Chamber of Commerce, laying out the “Expectations
of the Business Community of a Budget”, followed by Mr.
Rajan Asirwatham, Precedent Partner, KPMG Ford Rhodes Thornton
& Co, making a “Critical Review of previous tax proposals
and the way forward”.
Chairman, import section of the Ceylon Chamber of Commerce,
Mr. Ranjan de Silva, will speak on the “Issues faced by
importers and suggestions” while Mr. K.D. Ranasinghe,
Deputy Director, Economic Research, Central Bank of Sri Lanka
would speak on “Recent Economic Developments and Prospects”.
More>>
Business
Consumer Affairs
Daily
News /Thursday, October 04, 2007
Advertising claims on ‘green’ products
Grocery shops and other retail operations sell products and
packages announcing those products have environmentally friendly
features. This may influence your purchasing decisions.
They
use the phrases like ‘Environmentally safe’, ‘Recyclable’,
‘Bio degradable’, ‘Ozone friendly’ etc.
What do they really mean? There is set of guide lines developed
by the FTC for the advertisers to ensure that their environmental
marketing claims do not mislead the consumers.
*
Environmental claims must be specific
When you evaluate environmental claims on product labels, look
for specific information. Determine whether the claim apply
to the product or packaging or both. If a label says ‘recycled’
check how much of the product is recycled. Unless the product
or package contains 100 per cent recycled material the label
must tell how much is recycled. More>>
Panora
goes global with Taiwan expansion
Daily
Mirror /Thursday, October 04, 2007
Expected
revenue by 2008 at US$ 60 m
Panora
Corporation Ltd. the first ever Sri Lankan PC assembling operation
has entered the international business arena with the setting
up of their first offshore operation in Taiwan, called Panora
Taiwan. The majority shareholder of Panora Taiwan is S.H.M.
Rishan, Chairman of PCH Holdings (Pvt) Ltd., while Edden Chien
and Anderson Wu will be the overseas partners joined in as investors.
According to Rishan, the parent company of Panora Corporation,
the objective of this regional expansion is to reach out to
international markets, mainly the Asia-Pacific region, Russia,
Australia and New Zealand, Far East and Middle East and capitalize
on the ever increasing and diversifying demand for IT products
and services.
Rishan said “Any business related to IT sector, whether
it is software or hardware has become a very competitive trade,
locally and globally. In order to support our bottom-line, to
enhance business scalability, to allow the free flow of industry
related business practices and to bring in much needed foreign
exchange to Sri Lanka while generating employment, we as local
entrepreneurs should think beyond our horizons. Panora Taiwan
was set up with these objectives in mind.” More>>
New
facilities for gem and jewellery trade
Daily
News /Wednesday, 3 October 2007
A.G. Piyadasa
The
Government is to construct a new building including a Gem Museum,
Gem and Jewellery Laboratory showrooms, a Gem Exchange Centre
and a Training Centre to promote the gem and jewellery sector
on a land in Galle Road belonging to the BOI.
Minister
of Enterprise Development and Investment Promotion Dr Sarath
Amunugama told a discussion held at the Ministry yesterday with
the members of Association of Gem and Jewellery Industry (AGJI)
and entrepreneurs that Sri Lanka should make joint ventures
with India as they have an elastic demand in the trade.
He
proposed to invite top ten Indian businessmen in the gem and
jewellery trade to Sri Lanka to join this sector and get a good
training from them.
During
this meeting members of AGJI discussed the difficulties they
face in the sector in purchasing equipment, payment of taxes
in purchasing main raw material such as pure gold, platinum
and gems, lack of recognition for Sri Lankan gem traders in
Madagascar, and issues related to depreciation of the Sri Lankan
Rupee. More>>
Lanka
cranking up export level to Turkey
Daily
News /Wednesday, 3 October 2007
The Sri Lankan exports to Turkey has been recorded to a sum
of USD 34.3 million during the first eight months this year
and it was only USD 34.5 million during the last year.
This
was revealed at a programme held yesterday to promote economic,
trade and investment relations between Sri Lanka and Turkey
with the participation of the local business community. The
event was organised by the Confederation of Business and Industrialists
of Turkey (TUSKON).
In
the first eight months the total imports from the Turkey to
Sri Lanka was recorded as USD 31.8 million and in 2006 it was
USD 37 million. According to the TUSKON Turkey is among the
top 20 economies in the world.
Minister
of Enterprise Development Mano Wijeratne said that trade between
Sri Lanka and Turkey gradually increased but there are several
areas that country need to focus.
Last
year tea exports from Sri Lanka to Turkey has been dropped and
the country need to regain the lost market through exporting
more tea to Turkey, he said. More>>
Pepper
farmers’ bonanza
Daily
News /Wednesday, 3 October 2007
Chairman, The Spice Council, Sarada De Silva addressing the
Annual General Meeting said pepper farmers have benefited from
increased farm gate prices.
Price
of pepper which was around Rs. 150 per kg 18 months ago has
almost trebled during the year and has now settled to around
Rs. 350 per kg. This has extremely benefited the producers in
the districts of Matale, Kandy, Kegalle, Badulla and Ratnapura.
It
is imperative that the increased earnings of the producers be
channeled to upgrading of their production facilities and increasing
the productivity of the plantations.
With
sound agronomic practices and investment, it is easily possible
to double or even treble the current yield per hectare of 500
kilos. In competing countries like Malaysia and Vietnam yields
of over 2500 kilos per hectare have been achieved. More>>
The
NCE Export Awards 2006
Daily
News /Wednesday, 3 October 2007
The Golden Night of the Sri Lankan exporters, the 15th annual
NCE Export Awards ceremony was held at Hilton Colombo last Friday.
The
country’s main exporters were recognised as the best of
the best for 2006 in the export sector.
Award
winners were selected from ten sectors such as garments, industry,
minerals and export of business and professional services.
The
Gold award for best Sri Lanka Brand exporter was awarded to
Imperial Tea Exports (Pvt) Ltd. Selyn Exporters (Pvt) Ltd won
the Gold Award for the Best Woman Exporter of the Year.
Each
sector was categorised as small, medium, large and extra large
businesses. The gold, silver and bronze award winners were selected
under each category.
The
Most Outstanding Exporter Gold Award winner was Loadstar (Pvt)
Ltd and the Most Outstanding Exporter Runner Up Silver Award
was won by Colombo Dockyard Ltd at the Awards ceremony. More>>
Edna to expand, plans cocoa exports to Cadbury
Daily
News /Wednesday, 3 October 2007
Sri
Lankan chocolate maker Edna plans to increase its market share
to 60 percent within the next two years with over a billion
rupees being invested in new plants, an official said.
In 2008, close to 300 million rupees will be invested in a plant
that would process powder that will be sent to the Cadbury mills,
Edna group director Lal Ekanayake said.
Edna says its chocolates currently hold around a 48 percent
market share in Sri Lanka, followed by Ritsbury with 22 percent
and Kandos with 21 percent. The company has a 38 percent share
in the overall confectionary market. The group invested around
125 million rupees in 2005 and a similar amount last year.
Edna's says it is hoping to invest over 1.75 billion rupees
from 2007 up to 2010. With exports to countries such as India,
Maldives, Canada, USA, France, Italy, Germany and Austria, the
group makes its own raw material to keep production costs low.
"That is why we have not increased the price of our chocolates
even when the prices of sugar and other products are increased
in the markets," Ekanayake said. The group turnover for
last year was 5.1 billion rupees and Ekanayake says the company
can achieve a 6.6 billion rupee target this year. More>>
Czech
banker to address exporters importers
Daily
Mirror /Tuesday, October 02, 2007
Secretary
to a Banking Commission of International Chamber of Commerce
, Czech Republic, Pavel Andrle speaks today on the newly revised
Uniform Customs and Practice for Documentary Credits Publication
No 66 (UCP 600) of the International Chamber of Commerce (ICC)
which is formally adopted by the ICC Banking Commission.The
workshop mainly designed for exporters and importers, is held
at Galadari Hotel and is organized and coordinated by the Federation
of Chambers of Commerce and Industry of Sri Lanka. Andrle, an
expert on the subject area represents ICC Banking Commission
meetings abroad and today’s workshop is also one among
his chain of events.
He has been deeply involved in the revision of UCP as a member
of UCP 600 Consulting group being formed by over forty experts
from all over the world. Andrle is an international trade finance
consultant and lecturer. He has worked for a number of leading
local and international banks in various positions such as trade
finance specialist, head of trade finance, trade finance risk
manager and in-house trainer. More>>
US
investment promotion prospects at meeting
Daily
Mirror /Tuesday, October 02, 2007
His
Excellency Robert O Blake, Ambassador of The United State of
America called on Dr. Sarath Amunugama, Minister of Enterprise
Development and Investment Promotion recently at his office.
Discussions were centered on how economic relations between
the USA and Sri Lanka would be further expanded. The Minister
and the Ambassador also spoke of the need to promote American
Investment into Sri Lanka. Dr. Amunugama also outlined the government
of Sri Lanka’s blueprint for the development of the Eastern
Province, which will benefit the population of this area. More>>
CCC
import section 'pre-budget discussion'
Daily
News /Tuesday, October 02, 2007
In keeping with the objective of promoting, co-ordinating and
supporting the interests of importers, the Import Section of
the Ceylon Chamber of Commerce (CCC) would be hosting its annual
pre-budget discussion at 9 am on Thursday, October 4, 2007 at
the CCC Auditorium.
The
objective of this discussion is to understand the macro and
industry specific economics plans for 2008, the general outlook
of the budget proposals and whether the budget meets with the
expectations of the business community.
The
pre-budget discussion would commence with Chairman, The Ceylon
Chamber of Commerce, Mahen Dayananda, laying out the "Expectations
of the business community of a budget", followed by Precedent
Partner, KPMG Ford Rhodes Thornton & Co, Rajan Asirwatham
making a "Critical Review of previous tax proposals and
the way forward".
Chairman,
Import section of the Ceylon Chamber of Commerce, Ranjan de
Silva, will speak on the "Issues faced by importers and
suggestions" while Deputy Director, Economic Research,
Central Bank of Sri Lanka K. D. Ranasinghe would speak on "Recent
economic developments and prospects". More>>
Orange
Electric wins silver award for industrial exports
Daily
News /Tuesday, October 02, 2007
Sri Lankan brand leader Orange Electric has stunned the world.
The world market had not anticipated Sri Lanka to be a world
class electrical switch manufacturing destination.
Global
players were surprised that Sri Lanka could design, produce,
compete and export engineering products to the world. Today
Sri Lankan made Orange Electric switches and sockets proudly
stand out on shop shelves of many countries and are in high
demand.
In
recognition of this achievement the National Chamber of Exporters
of Sri Lanka presented the Silver Award in the extra large industrial
export category to Orange Electric this year. A new comer to
exports Orange Electric was placed ahead of veteran industrial
exporters like Royal Fernwood, Lanka Tiles, Ceylon Leather Products
and D. Samson Industries in the extra large industrial exporters
category.
Orient
Electric Systems (Pvt) Ltd, the company which owns Orange Electric
brand, is an ISO 9000 /2000, certified, manufacturer of high
quality electrical switches and sockets offering a life time
warranty. The high quality standard maintained by the company
has been an advantage to compete in the global market. More>>
Strengthening
of Pak-Lanka FTA stressed
Daily
News /Monday, 1 October 2007
Anjana SAMARASINGHE
Sri
Lanka must work harder to regain their lost place in the Pakistan
tea market while Pakistan must exploit Sri Lanka’s need
for textiles, yarn and fabric, said High Commissioner of Pakistan
Shahzad A. Chaudhry at the 15th Annual NCE Export Awards which
was held in last week.
The
betel leaf and coconut will only get us a small distance although
there is still potential with the tea. The FTA is a useful vehicle,
but it has enabled its potential increase almost nearing saturation.
Sometimes
I feel that the FTA tend to limit our innovation. It provides
for a sustainable but modest trade in commodities, which are
greatly dependant on established consumption patterns, he said.
We need to expand FTA to include services and investments. We
must also include some SME related products and goods pertaining
to engineering trade to give a real bounce to our trade relations,
he said.
Speaking
at the ceremony, President of the NCE D.K Rajapaksa said that
Sri Lanka is no longer a low labour cost country. Although our
workers are skilful, their productivity does not reflect their
capabilities compared to workers in competitor countries particularly
in the South Asian region. More>>
Tea
Report
Daily
News /Monday, 1 October 2007
Bartleets weekly Tea Surveillance up to September
25:
Heavy
buying from Iran, Dubai
THE
sale number 38 at the Colombo Auction witnessed a quantity of
5.427 mkg being traded with the Ex-estate segment accounting
for 0.677 mkg. Once again the sale quantities were following
on a downward trend.
The
Tippy market experienced good demand similar to the last sale
as a consequence of falling supplies with the Flowery teas gaining
significantly. Heavy buying was experienced from Iran and Dubai
with the CIS and Turkey playing a moderate role.
In
the Leafy market, last week’s trend continued with prices
moving in an upward direction. Winter buying could be noticed
as the major players shipping to Russia were particularly active.
More>>
Orange
Electric wins Silver Award for Industrial Exports
Daily
Mirror /Monday, 1 October 2007
Sri
Lankan brand leader Orange Electric has stunned the world. The
world market had not anticipated Sri Lanka to be a world class
electrical switch manufacturing destination.
Global players were surprised that Sri Lanka could design, produce,
compete and export engineering products to the world. Today
Sri Lankan made Orange Electric switches and sockets proudly
stand out on shop shelves of many countries and are in high
demand.
In recognition of this achievement the National Chamber of Exporters
of Sri Lanka presented the Silver Award in the extra large industrial
export category to Orange Electric this year.
A new comer to exports Orange Electric was placed ahead of veteran
industrial exporters like Royal Fernwood, Lanka Tiles, Ceylon
Leather Products and D. Samson Industries in the extra large
industrial exporters category. Orient Electric Systems (Pvt)
Ltd, the company which owns Orange Electric brand, is an ISO
9000 /2000, certified, manufacturer of high quality electrical
Switches and Sockets offering a life time warranty. The high
quality standard maintained by the company has been an advantage
to compete in the global market. More>>
Back |
Up
