Archives Trade News

CB relaxes grip on exchange rate
Export sector receives CB exchange benefitby Devan Daniel

The Island / Friday, October 31, 2008

The Central Bank said it would allow the rupee to respond to the dollar with greater flexibility after months of propping up the rupee against the dollar in a bid to curtail extreme volatility of the exchange rate to the annoyance of exporters. More>>

Stronger bilateral links with Russia to benefit tea

The Island / Friday, October 31, 2008

by Brian Tissera

Strengthening of bilateral ties with Russia in order to further promote Sri Lanka’s tea market has been decided on as a mater of priority. This was divulged at a meeting between the Foreign Minister Rohitha Bogollagama and the Ambassador for the Russian Federation, Vladimir P. Mikhailov held recently. More>>

Waste prawn shells to extend the shelf-life of papaya

The Island / Friday, October 31, 2008

Ms. Ilmi Hewajulige, a Senior Research Officer attached to the Food Technology Section of ITI has been awarded a PhD from the University of Colombo for her work in the field of post harvest technology. In her study she was successful in finding a method to extend the storage life of papaya using a waste material. More>>

World's top rubber producers plan production cuts to boost prices

Daily Mirror / Friday, October 31, 2008

BANGKOK, (AFP) -

The world's top rubber producers, Thailand, Malaysia and Indonesia, plan to cut production to help boost global prices, an industry official told AFP Thursday. More>>

Munchee cleared

Daily Mirror / Friday, October 31, 2008
Ramani Kangaraarachchi

The Munchee Lemon Puff brand of Ceylon Biscuits Limited was exempted from the recent melamine controversy on receipt of negative results by Ministry of Health. In sequence the product has now been removed from the list of prohibited items. More>>

Govt to ensure stable prices for tea

Daily News / Thursday, 30 October 2008

Chaminda PERERA

Media Minister Lakshman Yapa Abeywardena yesterday said the Government has taken all possible steps to ensure a stable price for tea in the midst of the global financial crises. More>

Agricultural exhibition

Daily News / Thursday, 30 October 2008

n Agricultural, education exhibition and mobile service organised by the Provincial Ministry of Agriculture (Central Province) will be held from October 31 to November 02 at Diyatilake Central College, Hanguranketha More>>

ASEAN rubber producers sound concern over price plunge

Daily News / Thursday, 30 October 2008

Rubber producers in Southeast Asia sounded their concern here on Tuesday over the sharp decline of rubber prices recently, saying contract defaulters were aggravating the situation further.More>

Lanka should venture into Gulf Construction Market - Dakshitha Thalgodapitiya

Urgent measures to address problems in the tea industry

The Island / Thursday, 30 October 2008

On the instructions of President Mahinda Rajapaksa, a special discussion was held at the Central Bank on Tuesday (28) to look into the problems being faced by the tea industry and to take immediate steps to resolve them. More>>

BOI takes lead role in developing regional fisheries sector

The Island / Thursday, 30 October 2008

As an island nation Sri Lanka has vast untapped fisheries resources that could address much of the countries food requirements as well as develop into a new export sector. For these reasons, the BOI organized an investors forum for the fisheries sector in the Negombo area. More>>

EDB to tap new, unexploited markets

Daily News / Wednesday, 29 October 2008

Hiran H. Senewiratne

The Export Development Board (EDB) is looking for new markets to strengthen local exports from Sri Lanka, which are unexploited upto now, its Chairman Anil Koswatte said.

“Although Sri Lankan exports have gone to more than 140 countries 90 per cent of exports generate from less than 50 countries,” Koswatte told the Daily News Business. More>>

Lankan herbal products to Pakistan

Daily News / Wednesday, 29 October 2008

There are many avenues through which the trade can be promoted between Pakistan and Sri Lanka and the herbal and cosmetic products, which are essential for women and men as well, can become a great source of strengthening bilateral relations between both the countries. More>>

The world economic downturn could hit Sri Lankan exports with the loss amounting to anything between US$ 300 to 500 million and the tea sector is already feeling the crunch, Economic Affairs Director of the Government Peace Secretariat, Rohantha Athukorala, said. More>>

China Int’l Auto Expo

Daily News / Wednesday, 29 October 2008

The Ministry of Commerce of China will hold the annual China International Auto Parts Expo (CIAPE) in Beijing from November 12 to 15. More>>

Traders cannot charge extra for packaging - Trade Minister

Daily News / Wednesday, 29 October 2008

Irangika Range

Traders cannot charge extra for packaging, Trade, Marketing Development, Co-operatives and Consumer Services Minister Bandula Gunawardhana said yesterday. More>>

BOI takes Fisheries Sector seriously

Daily Mirror / Wednesday, 29 October 2008

As an island nation Sri Lanka has vast untapped fisheries resources that could address much of the countries food requirements as well as develop into a new export sector. For these reasons, the BOI organized an investors forum for the fisheries sector i the Negombo area. More>>

National Advisory Council for export development

Daily News / Tuesday, 28 October 2008

Export Development and International Trade Minister Prof. G.L Peiris has appointed a 14 member National Advisory Council for Export Development comprising prominent members of the Export and Business community.

The newly appointed Advisory council will advise the Sri Lanka Export Development Board on Export Development policies and programmes on regular basis while providing guidance to EDB on Export Promotional and Development activities to achieve its objectives and targets.

The inaugural meeting of NACFED was held at the EDB Auditorium chaired by Minister Peiris.

Chairman EDB Anil Koswatte and Officials of the EDB were present. More>>

Certification needs for ornamental fish imports to European Union

Daily News / Tuesday, 28 October 2008

The Sri Lanka Export Development Board in collaboration with the Ornamental Fish International (OFI) organised a seminar with the objective of creating awareness among the aquarium fish exporters and the relevant Government officials on new regulations to prepare them for the new certification procedures. More>>

Incentives for tea smallholders

Daily News / Tuesday, 28 October 2008

Ramani Kangaraarachchi

Banks asked to differ loan interest payments:

The Central Bank Governor will meet all bank officials today to discuss the possibilities of helping tea smallholders to overcome difficulties they are facing as a result of the drop in tea prices at the last auctions. More>>

Hayleys enters into oil and gas industry

Daily Mirror / Tuesday, 28 October 2008

Blue chip’s Transport sector Hayleys Advantis forms a joint venture with leading energy services group, Edgo

Hayleys PLC, one of Sri Lanka’s oldest and most respected conglomerates yesterday formalised plans to enter into oil and gas industry  with Edgo Merap a subsidiary of Edna Group. More>>

Sri Lanka must benefit from West’s increasing affinity towards Ayurveda - Export Development Minister

Daily News /Monday, 27 October 2008

“At a time when there was an increasing awareness in the West of the efficacy of the Ayurvedic treatment system, Sri Lanka should make every efforts to benefit from such trends,” said Minister of Export Development and International Trade Prof. G. L. Peiris at a recent workshop held at the Export Development Board (EDB) office at Kurunegala, under the Value Chain Development (Agayadama) Programme, meant to highlight and discuss problems and impediments faced by those involved in the Ayurveda and herbal products sector. More>>

Sri Lanka emerging as trading and investment partner - US Envoy

Daily News /Monday, 27 October 2008

Philip Fernando

Sri Lanka is emerging as a major trade and investment Partner with the world, Sri Lankan Ambassador to the US Jaliya Wickramasuriya said. More>>

Buyers maintain wait and see policy

Daily News /Monday, 27 October 2008

Bartleetproducemarketing Tea Surveillance Report upto October 22:

The quantity of tea arriving at the Colombo auction this week increased to 7.138mkg from 7.048mkg traded in the previous week’s sale. Meanwhile, Ex-estate crops showed an increase from 0.863mkg to 0.935mkg. More>>

Crocodile appoints Emerald as exclusive agents

Daily News /Monday, 27 October 2008

Crocodile clothing range was re-launched in Colombo last Friday and the new management, Emerald International (EI) hopes to appoint distributors all over the country. More>.

Tea exporters to target 1000 MT exports to China

Daily News / Friday, 24 October 2008

Sri Lanka participated at the Beijing China Tea Expo held from October 12 -15 at the China World Exhibition Center, promoting Ceylon Tea at a very high profile and the biggest tea show in China. The centre stage was captured by Sri Lanka and Ambassador Karunatilaka Amunugama was interviewed by the organisers. He explained in detail the fine quality of Sri Lanka Black Tea and the potentiality it has for securing a bigger share in the Chinese market. More>>

CB Ensures Financial Market Stability amidst the Global Financial Market Turmoil

Daily Mirror / Friday, 24 October 2008

During the first 8 months of this year, the Central Bank absorbed a substantial volume of US dollar liquidity amounting to US$ 622 million in order to deal with any adverse shock that could arise from  a  sudden withdrawal of foreign currency from the system for any  reason, including a worldwide liquidity short supply.More>

Has been in the market for over 100 years:

Elephant House to expand with new products

Daily News / Friday, 24 October 2008

Ramani KANGARAARACHCHI

"It is easy to win an award but to maintain it for three years is challenging"

Ceylon Cold Stores Ltd won the SLIM Nielson People's Award for the most popular beverage brand of the year at the SLIM award ceremony held at the BMICH Colombo recently. More>

Kumbuk River wins world's leading Eco-lodge award

Daily News / Friday, 24 October 2008

Colombo: The Oscars of the travel world, the World Travel Awards has put Sri Lanka on the global map by naming KumbukRiver as the World's Leading Eco-Lodge. More>>

ASA 2008- Colombo will boost SL apparel industry to bail out

Daily Mirror/ Thursday, October 23, 2008

Sri Lanka is hosting the first ever Apparel South Asia (ASA) Conference on the 5th and 6th of November at the BMICH. The Sri Lanka Apparel Institute (SLAI) in association with Lanka Exhibitions and Conference Services (LECS) will bring together apparel manufacturers in the South Asian region at the ASA conference. SLAI and LECS have pioneered this event with the aim of giving apparel manufacturers in the South Asian region an opportunity to learn about current trends in the industry from the trend setters themselves and the leading personalities in the world apparel arena. More>>

Brandix wins Gold at National Cleaner Production Awards

Daily News/ Thursday, October 23, 2008

Brandix Green Plant in Seeduwa, the world's first and only Platinum-rated Green apparel factory, clinched the Gold Award at the National Cleaner Production Awards 2008, in recognition of its environment-friendly production practices. More>>

Key facts on Asia-Europe Meeting

Daily Mirror/ Thursday, October 23, 2008

BEIJING, (AFP) - The summit of the Asia-Europe Meeting (ASEM) will take place in Beijing later this week, gathering dozens of leaders from the two continents. More>>

Asian shipping slows as crisis strangles demand from US, Europe

Daily Mirror/ Thursday, October 23, 2008

KUALA LUMPUR, (AFP) - The ports and shipping lanes of Asia, the arteries of world trade through which goods and commodities surged in the boom times, are starting to seize up as the financial crisis strangles demand. More>>

Under-exploiting environmental friendliness of rubber plantations

Daily News/ Thursday, October 23, 2008

N. Yogaratnam ( PhD, London)

Chairman/ Tree crops Agro Consultants

Rubber (Hevea brasiliensis) has retained many features from it's Amazonion origins as an environmentally friendly forest tree, although it has been cultivated as a plantation crop for latex with wood as a side-product and now for carbon credits. More>>

CCC promotes trade with Chile

Daily News/ Thursday, October 23, 2008

The Ceylon Chamber of Commerce (CCC) held a meeting with the Ambassador for Chile, H.E Alfonso Silva recently in keeping with its efforts to promote closer dialogue between the members of Ceylon Chamber of Commerce and overseas trade representatives. More>>

EDB in major restructure drive –Chairman

Daily Mirror /Wednesday, October 22, 2008

By Deepal V. Perera

The Export Development Board (EBD), the country’s apex body in promoting exports announced yesterday that the it is in the process of re-structuring itself to become a vibrant institution in promoting exports from grass root levels, thereby decentralizing its activities by the establishment of regional offices across the island.

The newly-appointed Chairman of the EDB Anil Koswatte told the Daily FT that the proposed plans include the building of job satisfaction among employees via the introduction of a performance-based payment scheme, the setting up of a Research and Development (R&D) department and the formulation of the National Advisory Council for Export Development (NACED) which would be a high-level committee comprising of leading businessmen engaged in the export industry. More>>

Agricultural exports boost export earnings

The Island /Wednesday, October 22, 2008

by Brian Tissera

Agricultural exports which grew by 32 per cent boosted Sri Lanka’s export earnings, which registered a 16 percent increase in August 2008, a Central bank report confirmed.

This significant increase was brought about by the high prices received by Ceylon Tea and natural rubber in the international market. The US $4.26 per kilogram for tea was a 29 percent increase since the beginning of this year while the US $3.02 kilogram for rubber marked a 31 percent increase since January 2008, the report added. More>>

Thailand targets 16 million tourists in 2009 Sri Lanka is an important market

The Island /Wednesday, October 22, 2008

by Harischandra Gunaratna

Thailand has targeted to top the 16 million mark in tourist arrivals to the country in 2009,Monday night said Prakit Piriyakiet, Thailand Tourism Authority’s (TAT) Executive Director ASEAN, South Asia and South Pacific Department. More>>

Sri Lanka at hicap in Hong Kong

Daily Mirror /Wednesday, October 22, 2008

Srilal Miththapala, Director / Chief Executive Officer – Serendib Leisure Management Ltd, and  President – Tourist Hotels Association  (THASL) represented Sri Lanka at the recently concluded Hotel Investment Conference – Asia Pacific ( HICAP) held in Hong Kong, where he was invited to participate in the Panel Discussion on Sustainable Development – Best Practices.  Miththapala showcased the initiatives taken by Hotel Sigiriya,  the winner of the International Restaurant and Hotels Awards (IRHA) green award for 2008, and also Sri Lanka’s efforts towards sustainable tourism practices. More>>

Contingency plans for non-GSP+

Central Bank to formulate bail out package:

Daily  News / Tuesday, October 21, 2008

Anjana Samarasinghe

Sri Lanka will come up with an effective mechanism to face a no GSP+ concession situation.

Governor of Central Bank of Sri Lanka, Ajith Nivard Cabraal said local industries which depend on GSP+ concessions need to be geared to survive even in a non GSP concession scenario as a long term solution. More>>

CIC agri businesses to uplift rural life

Daily Mirror / Tuesday, October 21, 2008

CIC Agri Businesses set-up by the Rural Humanity Services Foundation (RUHUSEF) with a view of uplifting the living standards of the rural population and with a special emphasis on rural education has pledged Rs.5 million. More>>

Monetary Policy Review – October 2008

Daily Mirror / Tuesday, October 21, 2008

The turbulence in the financial markets of advanced economies, which erupted last year and continued into this year, has exacerbated, spurring cascading effects on most economies world over.  Its effects on credit markets and the resulting contraction in liquidity have brought on a period of instability and uncertainty in global financial markets.  As a consequence, many central banks worldwide have taken measures to improve liquidity conditions and provide stability to markets. More>>

GSP PLUS only a technical issue

Daily News / Friday, October 17, 2008

By Deepal V. Perera

The British High Commissioner to Sri Lanka Dr. Peter Hayes yesterday said that the British Government recognizes the importance of the Sri Lankan garment industry and its role in creating jobs and other value additions to the economy. But as far as the British government is concerned the GSP Plus issue exercise by and large is only a technical exercise. More>>

Lanka to participate in Chennai gem show

Daily News / Friday, October 17, 2008

Shirajiv SIRIMANE

"The southern market has shown a continuous growth of between 5 to 7 per cent year on year”

Sri Lanka has been invited to participate in the Gem and Jewellery India International Exhibition (GJIIE) which will be held from February 8 to 10 in Chennai for the first time Secretary of GJIIE, Sultan Mohideen said Sri Lanka is an important market and this was the reason they decided to make a direct representation. More>>

Brandix associates win 1st and 5th places at Island-wide Poster Competition

The Island / Friday, October 17, 2008

Two employees of the country’s top apparel exporter Brandix have won the first and fifth places at the island-wide poster competition conducted as part of the National Safety & Health Week, organized by Ministry of Labour Relations & Manpower. More>>

Nithyakalyani bags Jewellery Exporter of 2007 Award

Daily News / Thursday, 16 October 2008

Wellawatte Nithyakalyani Jewellery bagged the Best Jewellery Exporter of 2007 award in the large category at the recent National Chamber Export awards held at the Hilton Colombo. More>>

BOI signs US$ 1 million agreement to make yachts and boats

Daily News / Thursday, 16 October 2008

The Board of Investment entered into an agreement with Solas Marine Lanka Limited to establish a project to manufacture yachts and boats for export with an investment of US $ 1 million. More>>

Export revenue to top $ 8,500 m in 2008 despite financial turmoil - CB Governor

Sunday Observer / Sunday, 5 October 2008

Despite the global financial turmoil, this year's export revenue will exceed US$ 8,500 million and by 2010, it will reach the US$ 10 billion mark, said Central Bank Governor, Ajith Nivard Cabraal. More>>

Business in brief

Sunday Times / Sunday, 5 October 2008

Emerald’s new “NON REPEAT” shirts

Leading shirt maker, Emerald International recently introduced the "NON REPEAT" collection under its casual brand "focuss". More>>

Hayleys represents Sri Lanka in UN’s food crisis forum

Sunday Times / Sunday, 5 October 2008

Hayleys was recently chosen as one of four private sector representatives worldwide to address Secretary-General Ban Ki-moon at the opening plenary session of the first United Nations Private Sector Forum on Millennium Development Goals (MDGs) and Food Sustainability. More>>

BoI optimistic of US$ 1b FDI target for 2008

Daily News / Friday, 3 October 2008

Hiran H. SENEWIRATNE

“Indian and Chinese investors have accounted for most of the major investments and infrastructure projects in Sri Lanka, therefore, BOI’s focus has diverted its attention to attract Chinese and Indian investments”. More>>

Economy grows at 6.9 per cent, drop in unemployment -IPS

Daily News / Friday, 3 October 2008

The Sri Lankan economy has grown by 6.9 per cent a year on average over the past three years.

While GDP growth slowed in 2007, the higher growth momentum has also been accompanied by a sustained drop in the rate of unemployment to six percent by end 2007. More>>

China to unify supervision of milk buyers

The Island / Friday, 3 October 2008

China has vowed to tighten regulation over the dairy industry by bringing all milk procurement stations in the country under one supervision system, a senior official said Tuesday. More>>

It smes find it cheaper to do business in SL

Daily Mirror / Thursday, October 02, 2008

It has been asked if India can take a cue from its neighbour Sri Lanka to promote small and medium enterprises (SMEs) in the IT sector. The island nation is weaving its charm on Information Technology SMEs from India even as it has launched its mission to touch $2 billion in software exports by 2012. More>>

Fish Industry in Sri Lanka - Part IV

Daily News / Thursday, October 02, 2008

Bojoon.com teams up with Browns Beach Hotel, Negombo to explore the future of our fish industry.

Once, Catholics populated Negombo. Today it is an interesting weave of many ethnicities following different religious sectors. Still for all, the church still plays a huge role in the lives of the fishermen notes Chef Jagath, the executive Chef of Browns Beach. Kuda llelama that deals with the lagoon catch is managed by the Church. Church provides the forum and facilities to the fishermen to sell his catch and in turn the church is funded by the Kuda llelama. More>>

Japanese business confidence at five-year low: Survey

Daily News / Thursday, October 02, 2008

Business confidence among major Japanese manufacturers fell into negative territory for the first time in five years as an economic slump intensifies, a key central bank survey showed Wednesday. More>>

Special loan scheme to promote gem industry from Lankaputhra bank

Daily News / Wednesday, 1 October 2008

Lankaputra Development Bank has introduced a loan scheme especially for small and medium scale entrepreneurs engaged in the Gem and Jewellery Industry. The "Lakmini Security loan Scheme ", provides financial assistance up to one million rupees with an annual interest rate of 15 %. The repayment period is six mounts. More>>

Agribusiness Council forms farmer councils

Daily News / Wednesday, 1 October 2008

Hiran H. Senewiratne

National Agribusiness Council (NAC) is now in the process of forming farmer councils in the country with the assistance of private/ public partnership, newly inducted President Asoka Gopallawa said.

He said currently five farmer councils are operating in the country while ten more farmer councils are expected to start very soon benefiting 1500 farmers in the country. More>>

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