Archives Trade News

Sri Lanka at 'Anuga' Trade Fair in Germany

Sunday Times /Sunday September 30, 2007

A record number of 32 Sri Lankan exporters have confirmed participation at the "Anuga 2007" International Trade Fair to be held in Cologne, Germany from 13-17th October, a press release from Sri Lanka Embassy in Berlin said.

'Anuga' is a biennial event, recognised as the most important food and beverage international exhibition in the world, which attracts over 7000 exhibitors from more than 150 countries. Sri Lanka has been participating at this fair continuously since the early 1970's.

The Sri Lanka Export Development Board in collaboration with the Sri Lanka Embassy in Berlin is organising the participation of export companies under the national pavilion at Anuga 2007 to display fine food and beverages from Sri Lanka for the international market.

Sri Lanka's participation this year at Anuga 2007 includes the country's leading tea exporters who will have independent product displays to promote their brand names in the international market. More>>

Seminar on "Attracting and Retaining Talent for business success"

Sunday Times /Sunday September 30, 2007

McQuire Rens and Jones has organized a one-day seminar titled, "Attracting and Retaining Talent For Business Success" for HR & Line Managers.

This seminar scheduled for 17th October 2007 at Trans Asia Hotel, will be facilitated by Mr. Nalin Jayasuriya, MD and CEO of McQuire Rens Group of Companies and Mr. Bennet Patternott, General Manager, Group Human Resources of Carsons Management Services (Pvt) Ltd.

Learn all you need to know about interviewing for recruitment, from preparing suitable questions and structuring an interview to analyzing information and reaching a decision. "Interviewing Skills" not only shows you how to choose a new person to fill a post or interview colleagues for a promotion, but also provides practical techniques for you to use when interviewing. More>>

India to be Lanka's main market for gem and jewellery sector

Daily News /Friday, 28 September 2007

India could indeed in the future emerge as the main market for Sri Lanka's gem and jewellery products. India's growing Middle Class with an increasing spending power augured well for Sri Lanka's gems and jewellery sector which now had an important market at its doorstep.

Minister of Enterprise Development and Investment Promotion, Dr Sarath Amunugama, who chaired a meeting yesterday at his ministry proposed to invite the top 10 leading Indian businessmen in the Gem and Jewellery trade, to visit Sri Lanka and impart some of their knowledge to local industry professionals, perhaps through a training programme.

During the discussion Dr. Amunugama pledged to support the entrepreneurs in the jewellery sector, notably in the case of the importation of specialized machinery from India, used in the manufacture of bangles, through National Enterprise Development Authority.

One area suggested by the Minister was to build stronger ties with the Indian gems and jewellery sector such as the setting up of joint ventures. He said "Why do we always talk about European countries like Germany, when India is doing a very good business today." More>>

StocExpo Asia oil conference begins September 2

Daily News /Friday, 28 September 2007

Hiran Senewiratne

STOCEXPO Asia 2007, leading oil and chemical conference will be held on September 2 to 3 in Singapore.

This would be helpful to Sri Lanka since Sri Lanka is into oil exploration in the future, its sources said.

StocExpo will bring together terminal operators from throughout Asia to gain insights into latest developments in the regulatory process, best practices and technological developments affecting the storage of petroleum products and petrochemicals.

Sri Lanka hopes to go in for oil exploration in the future. Participating in these events would bring experience and exposure by participating in these international conferences and seminars, Lanka IOC Managing Director K. Ramakrishnan told the Daily News Business.

With all this growth and potential what better place for this type of StocExpo to be expanding its portfolio of successful exhibitions and conferences in the bulk liquid storage sector in the petroleum and chemical sector by hosting the inaugural StocExpo Asia event this year. More>>

India, Bhutan, and Sri Lanka lead South Asia's jump in reform

Daily News /Friday, 28 September 2007

South Asia picked up the pace of regulatory reform over the past year to become the second-fastest reforming region in the world, on par with the speed of reform in the countries of the OECD, finds Doing Business 2008.

The report is the fifth in an annual report series issued by the World Bank and IFC. Last year South Asia ranked lowest on the rate of reform; this year two-thirds of its countries had at least one reform.

The pickup in reform was led by India, which rose 12 places on the ease of doing business and made the reform of business regulation a policy objective. India was the top reformers worldwide in trading across borders.

Bhutan and Sri Lanka are the other top reformers in South Asia this year. Bhutan introduced the country's first fundamental labour protection. Sri Lanka made it easier to start a business and to trade across borders. More>>

Record prices at tea auctions

Daily Mirror /Friday, 28 September 2007

Last week’s Low Grown Elevation once again reached Rs. 320/-. Considering the excellent prices realized for most grades, this week’s average is bound to reach the Rs. 330/= levels. In the Leafy Category, select best BOP1s advanced several rupees.

However, the below best saw limited inquiry with prices maintaining last levels. On the contrary, the wiry OP1s gained sharply with the top end reaching the Rs. 500/- level. The below best and the poorer sorts too appreciated sharply. The Shotty Pekoes too met with excellent demand with some price gains.

However, the bolder varieties saw steep price increases and at times gaining up to Rs. 40/- per kg. The well made OPAs appreciated Rs. 10/- to Rs. 15/-, whilst the poorer sorts too gained in value. In the Small Leaf category too, the FBOP/FF1s gained as the sale progressed. The better Tippy varieties too gained substantially, whilst the below best and the poorer sorts gained Rs. 30/- to Rs. 40/-. There was excellent demand from Iran, Russia and Syria, whilst Turkey, Jordan, Dubai, Saudi Arabia, Libya and other Middle Eastern markets also lent useful support. More>>

Is Ceylon Tea still hot?

Daily Mirror /Friday, 28 September 2007

The Tough Tea Talk with a strategist

Whether served hot or cold, colored green or black, tea is the beverage of choice among today’s consumers. Nibras Bawa, CEO of Intimex Consulting spoke to Daily Mirror FT on the strategies for Tea Industry of Sri Lanka. Bawa, whose consulting company is working on globalizing a local tea brand advocates promoting single origin tea. We posed some hard and controversial questions to the outspoken globiz strategist whose insights were equally thought provoking.

Is the tea industry sustainable the way we are proceeding?

The industry faces stress, but long-term progress looks likely. Export statistics, auction prices and production data alone do not reveal a complete analysis of the tea industry. It’s well beyond these quantitative factors. Sri Lanka never looked at its tea industry strategically. Only in the recent past there have been some attempts. Many reforms with the participation of all stakeholders should have taken place long ago. However, as the saying goes where there is tea there is hope.

Is Ceylon Tea the most ethical tea in the world?

Arguably Yes. There are many positives like No child labour and worker welfare and so on. However we still have a long way to be really ethical. It requires a holistic mechanism whereby everything you do is ethical. You can’t be ethical in some areas and totally unethical in others. Ethics are a must, not an option nor a voluntary adherence. It’s mandatory and has to be integrated in our entire value chain. More>>

Sri Lanka imports from Malaysia 15 times more than it exports

Daily Mirror / Thursday, September 27, 2007

By Raknish Wijewardene

Malaysia is now Sri Lanka's single largest source of foreign investment it was announced at the Sri Lanka Malaysia business council’s third annual awards on Friday.

Bilateral trade now stands at almost $ 500 million, but the balance of trade is weighted heavily in Malaysia’s favour with the value of Sri Lanka’s exports estimated at a scant $ 30 million dollars while imports from Malaysia now stand at over $450 million.

While speakers at the ceremony praised the rapid expansion of economic ties between the two nations, concerns were raised as to the extent of the trade imbalance and the slow progress of the proposed Free Trade Agreement which would facilitate the movement of Sri Lankan goods to Malaysia.

The event was an opportunity for the business community to welcome the new Malaysian high commissioner Mr. Rosli Ismail who has only just arrived in Colombo. He replaces Mrs. Nazirah Hussain who was commended by a number of speakers for playing a key role in fostering the development of bilateral trade and investment.

Malaysia’s status as Sri lanka’s largest investor rendered this years awards, which recognise excellence in the field of trade and business, particularly significant. Awards were presented to outstanding firms operating in the categories of hospitality, IT, import and distribution, transport, and infrastructure development. Winners included Associated Autoways Pvt limited, Hemas air services, Idac air-conditioning, Epic Lanka IT specialists and KKK distributors. More>>

Lanka to pioneer Marks & Spencer eco- friendly factory

Daily News / Thursday, September 27, 2007

Marks and Spencer, UK in its exercise to draw its suppliers into its Green Agenda is to set up the first Eco - friendly clothing factory in Thulhiriya, Sri Lanka, which would be ready for production by the first quarter of next year, according to CEO of M & S, Stuart Rose, who disclosed when Prof. G L Peiris, Minister of Export Development and International Trade paid a goodwill visit to the former in London.

M & S has selected Sri Lankan lingerie supplier MAS Intimates, as their local collaborator for this project.

Rose, CEO of M & S who turned around M & S performance during the past three years informed Prof. Peiris that he would be undertaking a visit to Sri Lanka soon. Mr. Rose further said that the M & S consider Sri Lanka as one of the most important suppliers in their international business. It was mentioned that MAS Holdings, Brandix and Hirdramani of Sri Lanka were among their top 10 global suppliers with whom M & S had established a strong and valued business relationship.

According to Rose, M & S regional logistics hub which commenced its operations in Sri Lanka in March 2007, was running smoothly and Minister Peiris pledged his support for further expanding M & S operations in Sri Lanka.

Minister Peiris commended M & S contribution to the Sri Lankan economy through its long-standing business relationship with Sri Lanka for mutual benefit. M & S, which won the UK Social Responsibility Award of the Confederation British Industries (CBI) for second time in 2006, had acknowledged the contribution of Sri Lankan suppliers for its huge success. It was also revealed that one of the Sri Lankan suppliers to M & S had found employment to disabled women. More>>

Sri Lanka's business confidence stifled by taxes: report

Daily Mirror / Thursday, September 27, 2007

COLOMBO, Sept 26, 2007 (AFP) - High taxes and red tape are eroding confidence in Sri Lanka, one of the worst places to do business in South Asia, a study by the International Finance Corporation (IFC) showed Wednesday.

The research which ranked 178 countries around the world on trade, taxation, business start-up costs, labour laws and legal procedures placed Sri Lanka at 101, a worsening of its position from 89th in the past two years.

Some South Asian neighbours did better in their overall rankings, with the Maldives ranked 60 and Pakistan 76.

Sri Lanka however, scored ahead of Bangladesh (107), Nepal (111), Bhutan (119), India (120) and Afghanistan (159) in the "Doing Business 2008" report by the IFC, a World Bank member that promotes private sector investment in developing countries.

"The obstacles to doing business in Sri Lanka are linked to the licensing and tax procedures regimes," Melissa Johns, Investment Policy Specialist in the Doing Business team told AFP.

The report authors also ranked countries in individual problem areas.

Sri Lanka was the 111th most expensive country in the world to employ workers, as restrictive labour laws make it costly to dismiss staff. Companies must pay 169 weeks of salary to lay off a worker. More>>

Tea production in August 2007

Daily News/Tuesday, 25 September 2007

The Sri Lanka Tea Board announced that the total reported production of tea in Sri Lanka during August 2007, amounted to 24,253,562 kg as against 21,807,089 kg, produced during the corresponding month in 2006.

This shows an increase of 2,446,473 kg or 11.2 per cent. The total tea production during the period January to August 2007 amounted to 194,073,324 kg, as against 210,090,584 kg, produced during the corresponding period of 2006, shows a decrease of 16,017,260 kg or 7.6per cent.

The elevation-wise break down of tea production and total tea production in August 2007 and the total production during January to August 2007 along with the corresponding figures for the previous year is given below. More>>

New Anthony's farms awarded HACCP

Daily News/Tuesday, 25 September 2007

New Anthony's Farms has been awarded Hazard Analysis and Critical Control Points (HACCP) certification in recognition of the high standards used at all stages of its food production and preparation processes.

HACCP is a systematic preventive approach to food safety which addresses physical, chemical and biological hazards as a means of prevention rather than finished product inspection. It is used in the food industry to identify potential food safety hazards, so that key actions, known as Critical Control Points (CCP's) can be taken to reduce or eliminate the risk of the hazards being realized.

As one of the top producers of poultry in Sri Lanka over the past 18 years, New Anthony's Farms has won the trust and confidence of its wide clientele for producing quality, hygienically safe, nutritious and tasty chicken.

The company gives top priority to quality and safety of its products. This was the primary reason for the awarding of the coveted HACCP certification by the Sri Lanka Standards Institution (SLSI) to New Anthony's Farms. More>>

Sri Lanka to Pioneer M&S Eco– Friendly factory

Daily Mirror/Tuesday, 25 September 2007

Marks & Spencer, UK in its exercise to draw its suppliers into its Green Agenda is to set up the first eco - friendly clothing factory in Thulhiriya, Sri Lanka, which would be ready for production by the first quarter of next year, according to Mr. Stuart Rose, CEO of M & S, who disclosed when Prof. G L Peiris, Minister of Export Development and International Trade paid a goodwill visit to the former in London. M & S has selected Sri Lankan lingerie supplier MAS Intimates, as their local collaborator for this project.

Mr. Rose, CEO of M & S who turned around M & S performance during the past three years informed Prof. Peiris that he would be undertaking a visit to Sri Lanka soon. Mr. Rose further said that the M & S consider Sri Lanka as one of the most important suppliers in their international business. It was mentioned that MAS Holdings, Brandix and Hirdramani of Sri Lanka were among their top 10 global suppliers with whom M & S had established a strong and valued business relationship. According to Mr. Rose, M & S regional logistics hub which commenced its operations in Sri Lanka in March 2007, was running smoothly and Minister Peiris pledged his support for further expanding M & S operations in Sri Lanka.

Minister Peiris commended M & S contribution to the Sri Lankan economy through its long standing business relationship with Sri Lanka for mutual benefit. More>>

Tea promotion through Overseas missions

Daily News/Monday, 24 September 2007

Chaminda PERERA

COLOMBO: The Plantation Industries Ministry will launch a programme to promote Sri Lankan tea in foreign countries through our overseas missions, said Plantation Industries Minister DM Jayaratne.

The Minister was speaking at a meeting held to formulate strategies for the promotion of Lankan tea in foreign countries at the Ministry.

The Government expects to augment the tea export earnings from Rs. 91.5 billion to Rs. 125 billion within three years.

The officials in Lankan missions overseas will receive comprehensive training in promoting and explorating new market avenues for our tea, the Minister said.

Under this programme, an embassy official should send an extensive report on the demand for Sri Lankan tea and new strategies that could be employed for the promotion of tea in particular country every three months to the foreign minister and the plantation minister.

We have to seek new market opportunities in countries to which our tea is not being exported. Sri Lanka should identify the tea market variations in the Middle East and European countries and endeavour to increase our tea export earnings on which over 1.5 million employees are dependent.

Sri Lanka Tea Board Chairman Lalith Hettiarachi, said “China is among the top of our emerging markets. Their demand for beverages is higher with the growth of their per capita income.” More>>

NCE Exporter Magazine special issue

Daily News/Monday, 24 September 2007

NATIONAL Chamber of Exporters of Sri Lanka (NCE) is releasing a special issue of the Sri Lanka Exporter Magazine at the 15th Anuual NCE Export Awards Ceremony to be held on September 28 at the Colombo Hilton.

The Sri Lanka Exporter Magazine has been published for a continuous period of 15 years and currently has a circulation of around 5000 copies both locally and internationally.

Sri Lankan Airlines carries this magazine in the Business Class to all destinations of the Airline in order to promote exports from Sri Lanka as well as tourism. This magazine is also distributed to all Overseas Trade Missions and other important trade points.

The Magazine will be celebrating its 15th Anniversary with next quarterly issue which will be released in December 2007.

The Magazine carries trade related and especially export related articles contributed by eminent personalities and specialists in their respective fields. It also carries trade related statistics.

Therefore it serves as an important tool to project to the world the quality products and services offered by the country as well as the facilities and incentives provided to investors and traders. More>>

Tea News

Daily News/Monday, 24 September 2007

Bartleets weekly Tea Surveillance Report upto September 19:

Ramadan, winter season increases demand
A QUANTITY of 5.627 mkg was traded at the Colombo Auction this week down by 0.248 mkg when compared to 5.875 mkg last week. Some 0.731 mkg of this week’s sale were Ex-estate teas.

On the Ex-estate Local Tea bag packers were very active on the CIS market whilst Japan and UK were quite selectively buying.

Furthermore the catalogue quantities of sale no’s 38 and 39 shows a significant overall drop of 7.90 per cent. Comparatively High and Mediums reporting 12.76 per cent, ex estate 10.26 per cent and the low growns reporting a 5.70 per cent respectively.

Meanwhile due to the lower quantities the buying was hard anticipating the unions’s action to have a minimum monthly wage for the estate workers which will in return make things quite tough.

The leafy market showed a significant improvement, in almost all the grades with Pekoes in particular gaining by up to Rs.15 per kilo. Heavy winter buying noted for the OP’s and OPA’s with their prices also jumping by similar margins. Future sales are expected to witness continued upward pressure, especially from the CIS. More>>

Sri Lanka to build factory in Iran FTZ

Daily News/Monday, 24 September 2007

SRI LANKA is to increase its economic presence in the Iranian Free Trade Zone of Chabahar.

The Managing-Director of the FTZ, Mohammad Taher Baqerzadeh made the announcement after an economic and commercial delegation from the Chabahar Free Trade Zone travelled to Sri Lanka to hold talks with investors in the country.

“Sri Lanka’s Finco Group has agreed to build a cloth-manufacturing factory in Chabahar that will help job creation in the region,” the official told IRNA on Saturday.

He also said talks had been held with Sri Lankan official to build a tea packaging facility in Chabahar. More>>

Lanka-India economic pact beyond trade in goods

Sunday Times/ Sunday September 23, 2007

The Comprehensive Economic Partnership Agreement is expected to take the Sri Lankan and Indian economies beyond trade in goods towards greater integration and impart renewed impetus and synergy to bilateral economic interaction.

The Indian government will extend every possible assistance to Sri Lanka to expand its economy by exploring new opportunities in sectors like IT and BPO. Sectors for cooperation identified include telecom, professional services, construction and engineering, ICT, energy, tourism etc. This assurance was given by the Indian High Commissioner in Sri Lanka Alok Prasad when he addressed a meeting organised by the Indo- Lanka Chamber of Commerce and Industry to mark its first anniversary last week.

He added that CEPA would also look at trade in services, facilitation measures on bilateral investment and economic cooperation to compliment economic liberalisation and it will improve market access through trade facilitation and removal of non trade barriers. “CEPA will take our bilateral relationship to a qualitatively new dimension, encompassing wide areas of cooperation in energy, infrastructure, transport, health, information technology, education and other areas,” he said.

Outlining Sri Lanka-India economic relations and prospects after CEPA, the Indian High Commissioner noted that Sri Lankan trade with India had been increased by ten fold since 2000 and Sri Lankan exports to India have recorded a 90 percent increase under the FTA while Indian exports to Sri Lanka increased by 45 percent. India is the third largest market for Sri Lanka's exports after the US and UK.

Prasad disclosed that issues relating to the exports of Sri Lankan garments, textiles, vanaspathi and tea had been effectively tackled by the two countries and India has agreed to grant tariff concessions to Sri Lankan apparel exports. Duty free concessions will be granted to three million pieces of readymade garments, he said.

The Indian High Commissioner expressed the belief that several impediments for Sri Lankan exports to Indian states due to its different tariff structures could be settled with the introduction of common tariff system and harmonised custom procedures by the Indian government. More>>

Tradition and ethics instead of price competition for Ceylon Tea

Sunday Times/ Sunday September 23, 2007

Tea industry participants say the industry needs to tap into its traditions and ethics to survive the 21st century.

Sri Lanka’s nearly 150 year old tea industry is drowning in price competition. Industry practitioners say trying any harder to compete on price will be the end of the road for the venerable brew. They say the industry needs to maximise on its heritage and good industry practices to command modern markets for premium returns.

Rat race
According to Dr. N. Yogaratnam, Consultant, (NIPM) Sri Lanka’s cost of production of tea is around US$ 1.75 per kg, compared to India’s cost of US$ 1.25, Kenya’s cost of US$ 1.00 and Vietnam’s cost of US$ 0.75 per kg. Costs in Sri Lanka are expected to continue upwards. But the industry is still trying to compete on price.

“Sri Lanka can’t win a price war. Our costs are too high. We need to find other ways to compete,” says Kavi Seneviratne, Managing Director of Kelani Valley Plantations, whose company sells what is called the world’s first ethical tea brand.

The Head of Marketing of Dilmah, a company that has tried and tested the opposite high-end strategy, calls attempts to compete on price “dysfunctional.”

“Consistently, the stakeholders in our industry have adopted price as their main competitive strategy. This is dysfunctional in a situation where our industry produces tea that is of exceptionally high quality, at a high cost of production,” says Dilhan Fernando, Marketing Director of Dilmah Tea.

Already, unsuccessful attempts at trying to compete on price with lower cost, larger producers have reduced returns to the country.

“We have lost market share in terms of value, in some Eastern European countries and Vietnam,” says Fernando. More>>

Tea Board acts on IPR violations of Lion Logo in tea

Sunday Times/ Sunday September 23, 2007

Sustainability in the tea industry would depend on how far the industry would successfully handle the local challenges and the global challenges, according to Lalith Hettiarachchi, Chairman, Sri Lanka Tea Board (SLTB).

“Locally we have a high cost in pricing in the ever increasing labour, prohibitively increasing fuel and energy costs factories running under capacity. These are not insurmountable provided we do not take political decisions, lay emphasis on productivity and spend more on researching on alternative sources of energy and certain process changes,” he said. He pointed out that global challenges the industry is facing are other beverages, lack of resources to compete with supermarket giants, severe competition from the newly started producers like Kenya, Vietnam or Malawi entering into the orthodox production at lower costs and stringent certifications required by consumer countries for our products such as Maximum Residue Levels (MRL) by countries like Japan and the EU.

When asked whether the industry should resort to mass market and blend with other teas and pay less emphasis on marketing ‘our’ own tea brand, he said that blending has its advantages in selling bulk tea. “It also gives job opportunities to our people if the process is installed locally but the danger is that such blends will pull down our quality in certain instances especially if it so happens that contaminated teas are blended with our superior quality teas. There have been instances of Vietnamese teas entering our shores and suspected of being re-exported in the guise of Ceylon Tea rather than getting re-exported as blended tea,” he noted. More>>

UPC expert to conduct FCCISL collaborated workshop

Daily News/Friday, 21 September 2007

THE Federation of Chambers of Commerce and Industry of Sri Lanka FCCISL) in collaboration with the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), has organised a full day workshop on “Best Practice in UCP 600” (Uniform Customs and Practice) to be held on October 2 at the Galadari Hotel from 9 am to 5 pm.

Pavel Andrie, a member of the ICC Banking Commission will conduct the workshop. He was actively involved in the UCP 600 - Uniform Customs and Practice for Documentary Credits Publication No. 600 revision process that was adopted by the ICC Banking commission on October 25, 2006.

The workshop is mainly aimed at exporters and importers and would benefit professionals working in banks, trade, finance and risk management departments.

It would also benefit transport companies, other third party services providers for international trade and banking and commercial lawyers.

Applications for the workshop will be closed by September, 24 and those who are interested should send in their registration application on the prescribed form to reach the FCCISL.

Further, details and application forms could be obtained from Nirmalene Rajapakse - telephone no.2304253/4. More>>

Eight per cent economic growth targeted for 2008

Daily News/Friday, 21 September 2007

Shirajiv SIRIMANE

Sri Lanka can achieve an 8 per cent economic growth next year, Central Bank Governor, Ajith N. Cabraal said at the launch of the Web portal of Sri Lanka German Business Council (SLBGC) yesterday at the Ceylon Continental.

He said that Sri Lanka had achieved an economic growth of 7.4 per cent recently. However due to high oil prices, granting of subsidies and other overheads such as importing wheat and milk powder at high costs the country would not be able to achieve a 7 per cent growth end of this year.

“However I am confident that Sri Lanka can reach a 8 per cent growth by end of next year,” he said.

He added that inflation could be reduced to a single digit by next year-end. “We had targeted to reduce inflation by the end of this year. However due to a Government’s policy decision to continue with providing various handouts it was extended by one more year,” Cabraal said.

The Governor also said that the country’s per capita income is more than that of the other countries in the region. Western Province enjoys a per capita income of around US$ 1900 income. However countries such as Malaysia boast of a per capita income of around US $ 4000. More>>

Tea Market - comment

Daily News/Friday, 21 September 2007

SALE: Sale No. 37 with a total of 5.6 m/kgs was concluded this week.

Ex Estate offerings totalled 0.73 m/kgs which was marginally lower to the preceding sale. Western offerings showed no appreciable change yet there was a useful selection of teas on offer.

Consequently, the better made teas together with the Below Best coloury BOP/BOPFs met with improved demand resulting in prices advancing Rs. 10-15 per kg and more particularly towards the close.

At the lower end too clean leaf plainer sorts met with improved demand with prices advancing upto Rs. 10 per kg. There was keen interest shown by the shippers to CIS particularly for the tea bag varieties. Offerings from the Nuwara Eliyas were irregular and lower.

Consequently, prices for BOPs together with BOPFs declined. Uva/Udapussellawa too were irregular and lower.

Hence, with the exception of a few teas that maintained, most others were lower to last. Prices too were irregular barring the select best brighter teas which attracted special airmail inquiry, others met with less demand and were lower to previous. More>>

New production marketed adding value to rice

Daily News/Friday, 21 September 2007

Ramani KANGARAARACHCHI

THE Industrial Technology Institute (ITI) has developed a new rice cracker to the market in order to make rice products popular among the consumers. Senior Research Officer ITI Damitha Rajapaksha said that although the nutritious value of rice is highly taken by people internationally, in Sri Lanka the per capita consumption of rice has dropped drastically because it is not convenient to prepare food as using wheat and the ITI had introduced rice crackers as a solution to this problem.”

She said this at the launching ceremony of the new rice crackers held at the ITI Auditorium in Colombo on Thursday.

She said that a Sri Lankan person consumes 150 Kgs of grains per year out of which only 100Kgs rice. And we are self-sufficient in rice but import 950 thousand metric tons of wheat flour every year since rice is not popular. She pointed out that value addition to rice is necessary to overcome this situation. If people get used to riceour farmers will get a better income, generating new employment and new industries, she said.

Chairman CIC Agribusiness B.R.L.Fernando speaking on marketing potential for rice based products in Sri Lanka said that CIC has taken several measures to stabilise the prices of rice while moving towards value addition. An expert rice scientist has been recruited to the company and working on growing traditional paddy varieties. More>>

The Tea Factory among the World’s Best 100 Places to Stay

Daily Mirror /Friday, 21 September 2007

In an encouraging sign to Sri Lanka’s tourism industry, The Sunday Times of UK has named Sri Lanka’s first theme hotel, The Tea Factory among the “World’s Best 100 Places to Stay” in its September Travel issue.

The UK’s largest-selling Sunday newspaper commenting on The Tea Factory said: “Sitting on a grassy terrace at 2000m in the lush tea-planted hills of Sri Lanka is the Tea Factory. For years that’s exactly what it was, but now it’s an arresting 57-room boutique hotel. Outside it preserves its corrugated iron construction; within are still some of the old Professor Potts-style innards-machines for moving, sorting and drying tea – that whish and shirr into life each evening.”

Situated 6800 feet above sea level, the magnificent Tea Factory is part of the Aitken Spence chain of resorts. The Tea Factory lies, alone and unique, on the slopes of the tea plantations at Kandapola, high above the Nuwara Eliya town. Surrounded by the picturesque Hethersett Estate, the original tea factory was built in the 1930s by British planters. There is no more luxurious way to explore Sri Lanka's history of tea making.

Managing Director of Aitken Spence Hotels and the Immediate Past President of the Sri Lanka Hoteliers Association Mr Malin Hapugoda commenting on the achievementsaid: “We are really excited that one of Sri Lanka’s iconic hotel properties has been featured in the list of World’s Best Places to Stay by UK’s leading Sunday newspaper. The Tea Factory is truly unique to the world as it is the only tea factory which has been converted to a top-class boutique hotel.”

The Tea Factory showcases some of Sri Lanka’s best attractions as one irresistible package, from lush tea gardens, culture, exquisite cuisine to exceptional service. The Tea Factory conducts exciting excursions to Horton Plains, Hakgala Gardens, Kurundu Oya Water Falls and visits to ancient Hindu religious sites, a miniature tea factory, a wildlife sanctuary and the spectacular Randenigala Dam. More>>

Indo Lanka bilateral trade set to grow

Daily News /Thursday, 20 September 2007

Union Minister of Commerce and Industry, Shri Kamal Nath has expressed hope that the outstanding issues relating to the operationalisation of TRQ of vanaspati including bakery shortening and margarine and import of marble and copper from Sri Lanka to India would be negotiated soon to further increase the Indo-Sri Lankan bilateral trade.

Observing that the bilateral trade has increased from US $ 1497 million in 2004-05 to US $ 2590 million in 2005-06 and has been valued at US $ 2462.28 million in 2006-07, Kamal Nath hoped that the increase in the coming years would be substantial.

This was stated by the Indian Commerce Minister when Minister of Enterprise Development and Investment Promotion Dr. Sarath Amunugama called on him recently. India is the dominant partner in the bilateral economic relations with Sri Lanka, as almost 15% - 20% of total Sri Lankan imports are accounted for by India. With an investment of US $ 400-500 million in FDI, India is also amongst the fourth largest investor in Sri Lanka.

During the ongoing negotiations, India has already agreed to prove Sri Lankan garment industry a TRQ of 3 million pieces of garments without any condition of sourcing of fabrics and port restrictions.

Cooperation between the two countries include bilateral cooperation agreement (MOU) on product, quality, certification and testing that has been signed between Sri Lankan Standards Institute and Bureau of Indian Standards.

This is expected to benefit both the countries in areas related to standardization, quality and certification of products. More>>

Business Letters

Daily News /Thursday, 20 September 2007

Power saving at tea factories and the other side of hype

There seems to be a sudden and urgent hype for power savings at tea factories by the holding of seminars and programmes by several with vested interest in the tea industry in the likes of the Tea Research Institute of Sri Lanka, the Plantation Development Project, the Private Tea Factory Owner’s Association, the National Power Authority, the Sri Lanka Planters’ Association, the Energy Conservation Fund, National Power Authority and even the Ceylon Chamber of Commerce.

A system was patented in the early part of 2000 and offered to the entire decision making bodies of all the end users and beneficiaries of this sector, which at that time as is usual in Sri Lanka was not looked at in a positive manner mainly due to the lack of understanding and concern on the part of the main decision makers.

Their lack of foresight and scant concern for the escalating cost of global power and the negative impact it was certain to play in their future COP was staggering and beyond comprehension. More>>

Business Shipping

Daily News /Thursday, 20 September 2007

Lanka invited for first Asia, Oceania Customs Brokers’ Association meeting

Japanese Custom’s Broker Association (JCBA) and China Customs Brokers’ Association (CCBA) jointly plan to hold an inaugural meeting on November 16 at Yokohama, Japan under Federation of Asia Oceania Customs Broker Association (FAOCBA) under the theme of Comprative Study of Customs Brokerage including AEO (Authorised Economic Operator) and Information Technology, for the International Federation of Customs Brokers; Association (IFCBA) members representing the Asia and Oceania region.

IFCBA are the national Customs Brokers’ Association in a country.

The meeting planned is the first meeting of FAOCBA which will held in our region apart from IFCBA meetings. Australia, China, India, Korea, Japan and Sri Lanka are scheduled to participate.

This meeting will be attended by M.S.M. Niyas the Chairman of ACFA, Association of Clearing and Forwarding Agents. The purpose of the comparative study is: More>>

More Chinese investments

Daily News /Thursday, 20 September 2007

“Several mainstream Chinese investors have consented to invest in industries within the special economic zone which is to be built by the Sri Lanka Board of Investments,” Investment Promotion Minister Navin Disanayake said having returned from the International Investment and Trade Summit in Xiamen, China.

Addressing the Summit, the Minister emphasised on numerous benefits in investing in Sri Lankan industries.

He also discussed matters regarding new investments in Sri Lanka with the Deputy Minister of Chinese Consumer Affairs, Chen Jian and a number of Chinese investors.

The proposed special economic zone will cover an area of over 1000 acres in Matara, Dambulla, Puttalam and Trincomalee.

Industries in sectors such as apparel, fisheries, agriculture, cold stores, information and communication technology and over hundred other small and large industries are to be established within the new economic zone. More>>

Business Consumer Affairs

Citizens Advice Bureau

Daily News /Thursday, 20 September 2007

This is a concept which is successfully operated in the United Kingdom and Europe in order to help the public in any area that they need assistance for. The society has so complicated that its citizens cannot decide where to go and what to do when they are faced with complicated issues.

We must learn to import and accept good things from the West. This is one of the best systems to help the public in most areas. The CAB in the UK is assisted and mooted by councils, voluntary organisations and societies. There is a head office which gives directions to the CABs which are completely backed by the government and also the European Union.

The model envisages in Sri Lanka will be situated in the CAA premises assisted by the Legal Aid Commission, Legal Aid Foundation, the Government Call Centre (1919), Quality organisation and the public. Anybody who needs assistance can walk in, telephone or write to the CAB.

There are plans to obtain the services of volunteers, retired senior government servants, academics and professionals. This will be managed and run by minimum expenditure and by using available resources. More>>

Lanka-India seek to enhance bilateral trade

Daily News /Wednesday, 19 September 2007

INDIA: Kamal Nath, India’s Union Minister of Commerce & Industry, has expressed hope that the outstanding issues relating to the operationalisation of TRQ of vanaspati including bakery shortening and margarine and import of marble and copper from Sri Lanka to India would be negotiated soon to further increase the Indo-Sri Lankan bilateral trade.

Observing that the bilateral trade has increased from US$ 1,497 million in 2004-05 to US$ 2,590 million in 2005-06 and has been valued at US 2,462.28 million in 2006-07, Kamal Nath hoped that the increase in the coming years would be substantial.

This was stated by the Indian Commerce Minister when Dr. Sarath Amunugama, Minister of Enterprise Development and Investment Promotion called on him yesterday.

India is the dominant partner in the bilateral economic relations with Sri Lanka, as almost 15% - 20% of total Sri Lankan imports are accounted for by India.

With an investment of US $ 400-500 million in FDI, India is also he fourth largest investor in Sri Lanka.

During the ongoing negotiations, India has already agreed to prove Sri Lankan garment industry a TRQ of three million pieces of garments without any condition of sourcing of fabrics and port restrictions.

Further cooperation between the two countries include bilateral cooperation agreement (MOU) on product, quality, certification and testing that has been signed between Sri Lankan Standards Institute and the Bureau of Indian Standards.

This is expected to benefit both the countries in areas related to standardisation, quality and certification of products. More>>

Presidential Export Award winner 2005:

A taste for the world market

Daily News /Wednesday, 19 September 2007

Anjana Samarasinghe

August 23 was another significant day for Ceylon Biscuits Limited (CBL) as they were awarded at one of the country’s prestigious award ceremonies the 14th Presidential Export Awards by President Mahinda Rajapaksa.

CBL won an award at the Presidential Export Awards for the Food and Beverages sector under the Non traditional Products and Services category.

Speaking to Daily News Business Chairman of CBL, Mineka Wickramasinghe said awards ceremonies such as the Presidential Export Awards are encouraging and it is important to recognise exporters for the development of the sector.

However the Presidential Export Awards has not recognised small scale exporters and it is important to recognise small scale exporters in the country, he said.

Wickramasinghe who was a tea taster said CBL commenced operations in 1968 by supplying high protein nutritional biscuits for school children as their mid-day meal.

In the 80’s the company entered into the domestic and export market in collaboration with Associated Biscuits Ltd. successors to the world famous Huntley Palmers and Jacobs Brands. More>>

Hingalgoda tea factory achieves HACCP certificate

Daily News /Wednesday, 19 September 2007

Theja Vidyarupa Akuressa group correspondent

Hingalgoda tea factory managed by the Tea Smallholder Factories Limited (TSFL) has shown progress last year. TSFL manufactures CTC tea and pays top greenleaf prices to tea smallholders who are the suppliers of greenleaf to the factory.

The factory was able to keep its production on a satisfactory level. Last year PEKOE Fannings manufactured by the factory was sold at an all time record high of Rs. 560 a kilogramme.

This was the highest price in low country CTC tea obtained by the tea factory. In 2006, CTC teas offered 50 sales under the low grown category.

The factory had obtained 52 top prices for PFI, PENGS and BPI.

Now the factory has been renovated installing hightech machinery for production of more quality CTC teas. Meanwhile necessary preparations have been made to achieve HACCP certificate for Hingalgoda tea factory.

Daily tea tasting is being done at the factory to maintain high standard of tea manufacture. More>>

Surge of orders from Middle East following visit of CCC business delegation

Daily Mirror /Wednesday, 19 September 2007

The Ceylon Chamber of Commerce (CCC) Trade Fair Unit concluded yet another successful Business Promotion Mission recently. The identified markets were Saudi Arabia, Bahrain and Oman.

The CCC realizing that the way forward to explore the vast potential in these markets would be through a trade mission, organized a business promotion mission to Riyadh, Bahrain and Oman. The main objectives of this mission was, whilst strengthening its existing trade ties, to also look for new avenues to penetrate into these markets. The CCC with the support of the Sri Lankan missions in Riyadh, Bahrain and Oman organized a very useful programme for the visiting delegation to source suitable business partners.

The pre planning for the mission was co-ordinated by Mahroof Meerasahib, Ambassador for Sri Lanka in Oman, Mr. Wijesundera, Charge D’affaires, Sri Lankan Embassy in Riyadh and Mr. Higgoda, Consul General for Sri Lanka in Bahrain, along with the Chambers in Riyadh, Bahrain and Oman, thus creating the platform for the delegation to build on. The Saudi, Baharaini and Omani business Communities met with the CCC delegation on one-on-one basis.

The CCC had the privilege of entering into a co-operation agreement with the Bahrain and Oman Chambers of Commerce and Industry during this visit and was able to further strengthen its existing trade ties with the Riyadh Chamber. The delegation also had the honour of meeting with the Honourable Minister of Trade of Oman.

The leader of the mission Mr. Sarath De Silva, Chairman, inernational Foodstuff Co. Agri Bio Tech Pvt. while commenting on the outcome of the mission stated ‘ The presence of our delegation, exhibited the true business and investment potential of Sri Lanka to the Chambers and the business communities in these countries’. More>>

Trade deficit down by 35.1%

Daily Mirror /Wednesday, 19 September 2007

The trade deficit for July was down by 35.1% indicating a higher growth of exports over the growth of imports, the Central Bank stated yesterday.

Presenting its July Trade Performance data, the bank noted that the trade deficit narrowed to US$225 million compared to deficit of US$347 million during the same period last year.

The resulting overall trade deficit in the first seven months of this year had also narrowed, the Central Bank noted.

This had been due to the strong demand for apparel, whose exports rose by 38.5% in July 2007 and were complemented by the expanded market access in the EU countries.

Rubber and tea exports although at a minimal had also growth with tea at 7.2% during the first seven months of this year. Petroleum products had noted a dip by 3.9% in imports while investment goods rose by 11.5%. Consumer goods declined mainly due to lower imports of wheat and other consumer goods, particularly, motor vehicles. The cumulative imports during the first seven months grew by 4.3 per cent from US dollars 5,818 million in 2006 to US dollars 6,065 million in 2007. More>>

Lanka Tiles set to expand further in 2008

Daily Mirror /Wednesday, 19 September 2007

Lanka Tiles Limited has stated that it has plans to increase their production capacity by 48% next year.

With the company having achieved a net profit of Rs.272.9 million for the year 2006/2007 noted as “satisfactory”. The company’s shares also performed modestly at the Colombo Stock Exchange, the annual report stated.

The net profit is attributable to shareholders, is a 33.1% increase from that of last year, it was stated.

The group gross revenue increased 32.5% to Rs.2329.1 million while the gross profit showed a healthy increase of 13.4% to Rs.603.5 million.

This in spite of the relatively negative outlook the group is striving hard to maintain the operating momentum in the current year, the company’s Chairman Anthony Page said.

He noted that while the group has posted a 21.1% growth in profits in the first quarter of the current year it is expected the group to post a growth in profits in the year 2007/08 as well.

The Board has already decided to explore possibilities of further increasing production capacity, the company’s MD J.A.P.M. Jayasekera stated in his plans for the upcoming year. More>>

CCC concludes successful visit

Daily News/Tuesday, 18 September 2007

The Ceylon Chamber of Commerce (CCC) Trade Fair Unit concluded another successful Business Promotion Mission last week.

The identified markets were Saudi Arabia, Bahrain and Oman.

The CCC realising that the way forward to explore the vast potential in these markets would be through a trade mission, organised a business promotion mission to Riyadh, Bahrain and Oman.

The objectives of this mission was to look for new avenues to penetrate into these markets. The CCC with the support of the Sri Lankan missions in Riyadh, Bahrain and Oman organised a very useful programme for the visiting delegation to source suitable business partners.

The CCC entered into a co-operation agreement with the Bahrain and Oman Chambers of Commerce and Industry during this visit and was able to further strengthen its existing trade ties with the Riyadh Chamber. The delegation also met the Minister of Trade of Oman. Chairman, International Foodstuff Co., Sarath de Silva said the presence of the delegation, exhibited the true business and investment potential of Sri Lanka to the Chambers and the business communities in these countries.

The Riyadh, Bahrain and Oman Chambers had given their assurance that with the support of the Sri Lankan missions, they would initiate a reciprocal mission to Sri Lanka to coincide with 'Imexpro 2008' an International Trade Fair organised by the CCC scheduled from February 14 to 16, 2008. More>>

NCC organises handicraft fairs

Daily News/Tuesday, 18 September 2007

The local Handicrafts fair organised by the National Crafts Council at the Colombo National Art Gallery was a big draw among local and foreign buyers.

The fair held for four days was a success in funding to the marketing problems encountered by small industrialists in the handicraft sector.

Arranging ready markets for their products had been a content request made by handicraft industrialists from the NCC in recent times. In response to this request the NCC had arranged to conduct seven handicraft fairs countrywide this year.

The Art Gallery fair was the third fair in this series lined up for this year. The first two were held in Galle and Kuliyapitiya with success.

Fancy and gift items as well as utility goods found ready sales at this fair helping to enhance the Kitty of handicraftsmen and women. Availability of goods to suit the purse call strata of society was another factor which contributed to the success of the fair.

The next handicrafts fair will be held at the Ratnapura Town Hall from September 22 to 26.

Another three more fairs have been lined up for this year.

They will be held at the National Art Gallery from October 12 to 15, BMICH Exhibition Centre from November 8 to 11 and the Cultural Centre from 14 to 17. More>>

Objective to expand and diversify trade:

Business leaders join Minister on trade mission

Daily News /Monday, 17 September 2007

AN EXCEPTIONALLY high degree of interest was shown by the private sector in Sri Lanka in a mission led by Professor G. L Peiris, Minister of Export Development and International Trade, to the Russian Federation and the Ukraine to expand and diversify trade with these countries. 13 business leaders participated.

The sectors which received priority in the discussions in Moscow and Kiev were tea, rubber, electronics, herbal products, construction, transport, power generation, freight forwarding and edible oil products.

In his address to the Chamber of Commerce and Industry of the Russian Federation, Minister Peiris referred to the robust growth in Sri Lanka’s exports and the unusually strong performance of several sectors including apparel, spices, gems and jewellery and a variety of agricultural products.

He informed George Petrov, Vice-President of the Russian Chamber, and his colleagues of the significant advantages offered by trade with Sri Lanka.

Among circumstances of interest to Russian entrepreneurs, Prof. Peiris explained the far-reaching privileges available in respect of entry into the markets of India in consequence of the Free Trade Agreement, which has been in operation between Sri Lanka and India for 7 years.

Several thousands of items are entitled to duty free entry, subject to compliance with the stipulated criteria relating to rules of origin and value addition.

The Minister referred, as well to the separate Free Trade Agreement with Pakistan. He placed considerable stress on the major concessions available to Sri Lanka’s exports within the framework of the GSP arrangements with the European Union. More>>

Lanka-Austria to avoid double taxation

Daily News /Monday, 17 September 2007

Anjana SAMARASINGHE

Negotiations for entering into a bilateral treaty between Sri Lanka and Austria for the avoidance of double taxation and prevention of fiscal evasion concluded last week.

DIRECTOR GENERAL International Tax and Customs Department Federal Ministry of Finance Austria Dr Wolfgang Nolz said this initiative would boost bilateral trade between Austria and Sri Lanka.

Commissioner General of Department of Inland Revenue A.A. Wijepala said negotiations on a Double Tax Avoidance convention are considered to be an important step in the process to give particular focus to the bilateral economic relationship between the two countries.

After having necessary approval from the Cabinet and the Parliament Sri Lanka could enter into the agreement with Austria.

Sri Lanka has Double Taxation Avoidance agreements with 36 countries. Saudi Arabia, Croatia and Afghanistan too are keen on having Double Taxation Avoidance agreements with Sri Lanka to facilitate bilateral trade.

“Foreign investors need to pay taxes to Sri Lanka as well as their respective countries but under this agreement, it will prevent investors from paying double taxation. More>>

Surge of orders from Saudi Arabia, Bahrain and Oman

Daily News /Monday, 17 September 2007

The Ceylon Chamber of Commerce (CCC) Trade Fair Unit concluded another successful Business Promotion Mission last week.

The identified markets were Saudi Arabia, Bahrain and Oman.

The CCC realising that the way forward to explore the vast potential in these markets would be through a trade mission, organised a business promotion mission to Riyadh, Bahrain and Oman.

The objectives of this mission was to look for new avenues to penetrate into these markets. The CCC with the support of the Sri Lankan missions in Riyadh, Bahrain and Oman organised a very useful programme for the visiting delegation to source suitable business partners.

The CCC entered into a co-operation agreement with the Bahrain and Oman Chambers of Commerce and Industry during this visit and was able to further strengthen its existing trade ties with the Riyadh Chamber.

The delegation also met the Minister of Trade of Oman.

Chairman, International Foodstuff Co., Sarath de Silva said the presence of the delegation, exhibited the true business and investment potential of Sri Lanka to the Chambers and the business communities in these countries. More>>

Tea Report

Daily News /Monday, 17 September 2007

Bartleets Tea Surveillance upto September 12

AT THIS week’s Colombo Tea Auction a total quantity of 5.875 mkg of tea was sold of which 0.772 mkg were Ex-estate teas. Last week’s sale witnessed a quantity of 5.9 mkg and 0.786 mkg respectively.

This week’s Leafy-grade teas showed further improvement across the board except for the BOP1 grade. This could be due to urgent shipments to destinations where the onset of Ramadan is giving rise to added demand or due to local buyers receiving more inquiries for winter buying.

Russia and Germany were very active whilst buyers representing the Middle East were less so.

The Tippy market also gained in strength during the course of this sale as compared with the previous sale for flowery types like FFI’s, FBOP’s and FFX’s. Iran and Dubai played an active role in these grades. Saudi Arabia, Turkey and the CIS played a moderate role. More>>

Lanka Readymix seminar today

Daily News /Monday, 17 September 2007

Lanka Readymix Concrete Association in collaboration with Holcim (Lanka) Ltd has organized a one day seminar on “Improving Business Performance through Strategic Management Models” today (17) at Taj Samudra Hotel.

The main speaker is Pr. Eng. Spencer Sephton Former General Manager of RMC Operations of Holcim.

Vitally important subjects on construction sector are to be discussed. More>>

SriLankan Cargo keeps it fresh

Sunday Times /Sunday September 16, 2007

Sri Lanka’s fruit, vegetable, cut flower and fisheries product exports jumped a massive 34 percent in the first three months of 2007 over the same period a year before, according to a statement by SriLankan Cargo. Combined export proceeds from the four sectors topped Rs. 5.3 billion in the quarter, up from about Rs. 4 billion in 2006. SriLankan Cargo said it carries some 60 percent of Sri Lanka’s perishable cargo to over 51, destinations in 28 countries, including to the Maldives and 10 key cities in India.

Head of Cargo at SriLankan Airlines Nalin Rodrigo says, “We have had a firm understanding with the local fruit, flower and vegetable growers in a very interdependent business. Perishable cargo exporters, including the smaller exporters have been enjoying extremely preferential rates. Tariffs have also been maintained at the same levels for over a decade and the fuel surcharge adjustments have been extremely moderate and far below the level of fluctuation.” SriLankan Cargo said it met the increasing demand for air freight service by redesigning the palates to gain over 15 percent more carrying capacity. The strong growth from the East Asian bloc is also drawing on SriLankan Cargo’s strength in the South Asian region.More>>

Presidential Award for Attapattu

Sunday Times /Sunday September 16, 2007

Kiran Attapattu, Chairman of Colombo Engineering Enterprises, was recently awarded the Presidential Export Award for year 2005 in the ship repairing service sector.

Kiran Attapattu receiving the Award from President Rajapaksa at the ceremony. More>>

Brandix, MAS announce change in ownership of connected joint ventures

Sunday Times /Sunday September 16, 2007

Brandix Lanka Ltd and MAS Holdings (Pvt) Ltd., South Asia’s leading apparel solution providers, this week announced the finalisation of transactions concerning ownership of their joint venture concerns - Linea Clothing (Pvt) Ltd. and Textured Jersey Lanka (Pvt) Ltd.

Following an offer by Brandix to purchase the latter’s shareholding in Linea Clothing (Pvt) Ltd., MAS made a counter offer to purchase the shares held by Brandix in Linea. MASs Holdings’ investment in Textured Jersey Lanka (Pvt) Ltd., held through Linea was transferred to Brandix Lanka, the companies' said in a joint statement.

Ashroff Omar – CEO/Managing Director, Brandix and Mahesh Amalean – Chairman MAS Holdings said these changes in ownership were arrived at mutually in the best interests of the companies’ associates and customers. Following the transaction, Linea will be a fully owned subsidiary of MAS Holdings and Textured Jersey Ltd. will be jointly owned by Pacific Textiles Holdings Ltd (Hong Kong) and Brandix. More>>

Dankotuwa bags global recognition

Daily Mirror/ Friday, September 14, 2007

Anjana Samarasinghe

Dankotuwa Porcelain the manufacturer of the world class tableware was awarded as the Sri Lankan Exporter of the Year 2005 at the 14th Presidential Export Awards held recently. It added another prestigious award to their cabinet at their office.

Chairman/ Managing Director of the Danokotuwa Porcelain Sunil G. Wijesinha said awards play a huge role in the development of the country. In the USA these types of award schemes have contributed to the development of quality American products and services.

"Everybody needs recognition and awards will motivate the business community to achieve more. The feeling of "We are working for an award winning company" will build a positive perception on your employees," he said.

Dankotuwa have been winning awards since 1989 at the Presidential Export Awards. Dankotuwa also won many prestigious awards at most recognised award ceremonies in the country including the NCE awards.

Explaining the secret of their success Wijesinha said they do not compromise on quality. Quality of our products and reliability of service are the secret of our success. Whether we are running at a loss we do not want to compromise on the quality. Being innovative and highly customised are our other components of the success.

Elaborating on their export markets, Wijesinha said the company exports 85 per cent of their monthly production and the balance is for local market. USA, Europe, India, Pakistan, South America and Middle East are their major export markets.

The company exports tableware under two brand names "Dankotuwa", and "Elan" and the brand name Laklain caters to the local market. Brand Elan is specially for designer shapes because in Europe people are more fashion conscious and demanding for new shapes in tableware. More>>

US lawmakers vow tighter laws on Chinese-made toys

Daily News/ Friday, September 14, 2007

US lawmakers vowed Wednesday to enact stricter legislation to prevent potentially dangerous Chinese-made toys from being sold in America, as leading toy firms said safety checks were being boosted.

Lawmakers voiced concern during a congressional hearing on recent mass toy recalls by Mattel and other toy companies affecting millions of Chinese-made toys tarnished with lead paint or other safety defects.

"'Made in China' has now become a warning label," Republican Senator Sam Brownback said at a Senate Financial Services and General Government subcommittee hearing.

"Our toy safety system is not as strong as it should be," said Democratic Senator Richard Durbin. Senators said stricter laws were being drafted, as Mattel chairman and chief executive officer Robert Eckert apologized for multiple recalls initiated by the world's biggest toy maker related to toys tainted with lead paint More>>

Multilac wins Presidential Export award

Daily Mirror/ Friday, September 14, 2007

Macksons Paint Industries (Pvt.) Ltd., manufacturers of Multilac paints, carried away a top award in the Chemical and Allied products category at the prestigious Presidential Export Awards ceremony held recently. This recognition is the culmination of a success story that began over 25 years ago.

The Company’s ingredient for success is the technology used, coupled with its commitment to quality, innovation and affordability. This combination has reaped rich dividends, with Macksons being recognized by several prestigious awarding bodies over the years. Last year, Macksons Paint was adjudged winner of the Gold award as the Best Sri Lankan Brand Exporter and was also the winner of the National Business Excellence Silver Award . The Company now has a plethora of awards under its belt, including, the consistent winning of the National Chamber of Exporters of Sri Lanka awards, the National Awards for Export Excellence won in 2003, the National Business Excellence awards in 2004 and 2005 and the Ceylon National Chamber of Industries awards in 2004 and 2006.

Macksons began in 1981, in Panadura, with just six employees. Determined efforts and teamwork saw the business grow steadily, to emerge today as a specialized paint manufacturer and market leader in the colour bank segment, catering to an ever widening customer base. The hands-on experience and invaluable insights on special market needs gained over the years, succeeded in making Multilac a key provider of quality customized paint solutions, with infinite colours available instantly. More>>

Intimex helps make companies global more valuable

Daily Mirror/ Friday, September 14, 2007

Nibras Bawa is the founder and chief strategist of Intimex Consulting, a globiz strategy consultancy firm. Part of a prominent family, the young marketer turned exporter turned strategist developed Intimex’s flagship 5D model based on extensive research and experience and was given consulting assignments through private invitations. He then formed Intimex along with his Pakistani Co founder Shehla, and today the duo are building a consulting empire silently and steadily across Asia. Nibras recently met up with Daily Mirror Financial Times for an exclusive interview and elaborated on the activities of Intimex.

Excerpts of the interview Firstly, tell us about Intimex Consulting and its operations?

Intimex Consulting (International Import Export Consulting), is a fast growing globiz strategy consultancy that helps make companies global and more valuable. With associates across Asia and Middle East and our team based internationally, we offer capabilities across the spectrum from strategy through implementation to help clients across industries and geographies make the big decisions on export strategy, international marketing, international market entry to deliver sustained shareholder value growth. We research, develop and implement our inspired globiz strategies to achieve the best possible results for our clients with exceptional economics.

Why Globiz Strategy as your core focus?

It goes to the very DNA of Intimex. Our core business is fuelling profitable global growth through our cutting edge solutions. Our value proposition to the client is radically different and we don’t jump the bandwagon. Our business design framework starts with the customer in mind; anticipates how their needs are changing; anticipates unmet needs; where value is migrating, to find new sources of value. Here we leverage our knowledge of the patterns of market evolution, our excellence in customer science, and our analytic strength to answer the question: where are tomorrow’s profit zones ? Hence Globiz strategy. More>>

Power saving at tea factories: The other side of the hype

Daily Mirror/ Friday, September 14, 2007

There seems to be a sudden and urgent hype for power savings at Tea Factories by the holding of seminars and programmes by several with vested interest in the Tea industry in the likes of the Tea Research Institute of Sri Lanka, the Plantation Development Project, The Private Tea Factory Owners Association, the National Power Authority, The Sri Lanka Planters Association, the Energy Conservation Fund, National Power Authority and even the Ceylon Chamber of Commerce.

A system was patented in the early part of the year 2000 and offered to the entire decision making bodies of all the end user and beneficiaries of this sector, which at that time as is usual in Sri Lanka was not looked at in a positive manner mainly due to the lack of understanding and concern on the part of the main decision makers. Their lack of foresight and scant concern for the escalating cost of global power and the negative impact it was certain to play in their future COP was staggering and beyond comprehension said Mr. Kiyaz Deen Managing Director of Polylanka (pvt) Limited the Pioneers who were the first in Sri Lanka to install and successfully operate the Polydrive Power system incorporating a VSD at the Deenside Tea Factory in Gampola in the year 1999/2000. More>>

FACETS Sri Lanka 2007 - A Resounding Success

Daily News/Wednesday, 12 September 2007

Heralding in Sept- ember this year and as always was Sri Lanka’s prestigious International Gem and Jewellery Show ‘FACETS Sri Lanka 2007’ which took place recently at the Exhibition Centre of the BMICH.

This year’s visitor turn out was no second to any of the other 16 previous shows. In fact it recorded a remarkable 20 per cent increase in visitors than last year. Of the seven thousand five hundred visitors this year there were slightly over seven hundred foreign visitors and buyers.

It was an achievement the organisers were proud of. Yet another noteworthy feature was the increased number of Sri Lankan visitors who took time to come and left the BMICH pleased as ‘punch’ with the satisfaction that even they were able to purchase something small and within the reach of their budgets.

The BMICH exhibition centre has housed FACETS Sri Lanka for the past three years, this year there were over 150 participants of which 20 booths were sold to overseas participants which housed around 35 foreign companies.

This year too competitions were held for the Best Gem Cutters and also the best-constructed booth at the show. Ceyital Jewels of the Sifani group was adjudged the best booth with A.M.A. Careems a close runner-up. More>>

Rubber industry gets Rs. 400 million boost

Daily News/Wednesday, 12 September 2007

Ramani Kangaraarachchi

The Government is to invest over Rs. 400 million on the rubber industry this year to encourage future markets for rubber products, Director Rubber Research Institute Dr. Asoka Nugawela told the Daily News.

He said the future requirement for rubber will be more than 150,000 metric tons per year and raw material should be available to meet this demand.

To meet this demand the Rubber Research Institute has developed a new clone which would give a yield of 2,500 kg per year per hectare annually which is the maximum potential level. At present the growers get only 1100 kg per hectare.

The Rubber Development Department is in the process of moving away from confining to traditional growing areas and has started expanding to non-traditional areas such as Moneragala, Matale and also to the Eastern province as a long-term measure to develop the industry.

In 2006 the total production of rubber was 109,000 metric tons and this was an increase of 5,000 metric tons compared to 2005.

Dr. Nugawela said 60 per cent of the growers are smallholders and high yield clones RRISL 2003, 2001 have been introduced to them. Two sub-stations in Polgahawela and Kurunegala have been set up for the benefit of smallholders. More>>

Packing sector winners for Lanka Star '07

Daily News/Wednesday, 12 September 2007

The Sri Lankan Packaging industry has risen up to the exacting demands of the country's manufacturing industry, that its out put now matches up to any imported packaging material, in respect of quality.

All manufacturing industries do recognise packaging as an important cross cutting issue in any product development endeavour.

Goods manufactured here could now reach distant local and international market places with unblemished quality, due to high quality, local packaging being developed.

Growth of the Sri Lankan packaging industry over the past two decades have been phenomenal and the value of its output now represents three to five percent of the country's GDP. Local packaging developers gain regional and international accolades every year for the creativity of their designs.

The prestigious Asia Stars and World Stars won by them every year exemplify the originality of their package designs.

You may be aware that the glamorous local event - 'the Lanka Star awards' scheme organised by the Sri Lanka Institute of Packaging acts as the precursor to all such regional and international packaging evaluation exercises on Sri Lankan Packaging. It is the Sri Lanka Institute of Packaging that first recognises, evaluates and rewards those new package creations developed within a given year, through its Lanka Star awards. More>>

[Business Feature]

Daily News/Wednesday, 12 September 2007

Ramani Kangaraarachchi

The switchboard to success

The leading exporter of low voltage electrical panel boards in Sri Lanka and once Entrepreneur of the Year, KIK Engineering Company won the prestigious President’s Award 2005 for exports recently.

The company is the No. 1 low voltage panel building factory in South Asia for highest international standards for electrical switchboard, so they have captured the Indian market in a big way and are operating from its office in Chennai making Sri Lanka proud.

Switchboards for Delhi Metro Rail Corporation was one of their largest projects in India. The company has also expanded its exports to Bangladesh, Maldives, Rwanda, Myanmar, Vietnam and Singapore.

KIK manufactures motor control centres, synchronising panel boards, programmable logic control panels and automatic power factor correction capacitor banks apart from low voltage electrical power distribution panels. Type tested systems, fixed or plug in version and forms 1, 2, 3 or 4 to IEC 60439-1 are also offered according to requirements of the customers.

Asked his views about the latest achievements, Chairman KIK Lalith Kahatapitiya said: “Receiving an award is an encouragement although we did not work targeting awards. I appreciate the Government’s effort to encourage exporters. We are a young company which started very small.

I see it as a result of working towards a vision. It was a an attempt to start a business at the beginning, later I was very keen to make the company grow whilst making foreign exchange. It is a ride to being able to become a breadwinner for the nation,” he said. More>>

Business Advertorial

Daily News/Wednesday, 12 September 2007

Hayleys Agro wins top honours for salutary role in agriculture

The Hayleys Group’s well-established role and continuing investments in ‘Helping Sri Lanka Grow’ have been emphatically recognised once again at the National Agribusiness Council’s Agri-Business Awards.

Hayleys Agro Products Ltd., (HAPL), the Group’s total solutions provider to the local agri-inputs sector was awarded three Gold awards and a Silver award at the 2007 Ag-Biz awards in the ‘Large’ category for Seeds and Planting Materials, Machinery and Agricultural Equipment, Livestock and Veterinary Supplies and Fertiliser and Agrochemicals in an impressive endorsement by peer companies and associations in the sector.

“The commitment of Hayleys to agriculture has been strengthened and a strong common platform is being set up to invest in a new generation of agriculture even as the group builds on its traditional role,” said Managing Director of HAPL Rizvi Zaheed. These awards are greatly encouraging in that context, as they recognise the all-encompassing nature of our involvement.”

HAPL’s products range from crop protection chemicals — insecticides, fungicides and weedicides to vegetable seeds, seed paddy and seed potatoes, fertilizer, agri equipment including sprayers, tractors, combine harvesters and threshers, micro irrigation systems and animal health products including antibiotics, biologicals, feed additives and veterinary pharmaceuticals.

Marketed under a one-stop concept, the company’s products are widely available in over 90 per cent of agricultural outlets in the country. More>>

Brandix and MAS exchange ownership of joint ventures

Daily News/Wednesday, 12 September 2007

Brandix Lanka Ltd. (Brandix Lanka) and MAS Holdings (Pvt) Ltd., South Asia’s leading apparel solution providers have announced the conclusion of transactions concerning ownership of their joint venture concerns - Linea Clothing (Pvt) Ltd. and Textured Jersey Lanka (Pvt) Ltd.

Following an offer by Brandix Lanka, to purchase the latter’s shareholding in Linea Clothing (Pvt) Ltd., MAS Holdings made a counter offer to purchase the shares held by Brandix Lanka in Linea Clothing (Pvt) Ltd. MAS Holdings’ investment in Textured Jersey Lanka (Pvt) Ltd., held through Linea Clothing (Pvt) Ltd. was transferred to Brandix Lanka. Mr. Ashroff Omar – CEO/Managing Director, Brandix Lanka and Deshamanya Mahesh Amalean – Chairman MAS Holdings said these changes in ownership were arrived at mutually in the best interests of the companies’ associates and customers. Following the transaction, Linea Clothing (Pvt) Ltd. will be a fully owned subsidiary of MAS Holdings (Pvt) Ltd. and Textured Jersey Lanka (Pvt) Ltd. will be jointly owned by Pacific Textiles Holdings Limited (Hong Kong) and Brandix Lanka Ltd.

Brandix Lanka and MAS Holdings, will continue to work together to strengthen the industry in the country and position Sri Lanka as an attractive destination offering solutions to leading clothing brands. More>>

LIOC to export lube oil from Trincomalee

Daily News/Tuesday, 11 September 2007

Hiran H. Senewiratne

Lanka IOC (LIOC) will venture into exporting of lube oil with the setting up a modern lube blending plant in Trincomalee.

The plant will commence commercial operations next month, Managing Director R Ramakrishnan told the Daily News Business.

He said that in line with the initiative of the Government to develop the Eastern Province, as a special Economic Zone, LIOC invested Rs. 1.3 billion to construct this modern Lube Blending Plant with a sophisticated laboratory facility inside the Trincomalee Oil Farm. The plant has a capacity of 6,000 tonnes.

The company has plans to export their lube oil initially to Mauritius, Dubai, Bangladesh and Maldives, which are potential markets for them, LIOC Managing Director said.

The new plant will have the capability to manufacture all types of automotive, industrial and marine lubricants and is expected to go on stream next month to cater the local market under the Servo brand. More>>

Lanka to brand itself as “Tea Nation of the World”

Daily Mirror/Tuesday, 11 September 2007

By Damayanthi Hewamanna

Sri Lanka has prospects of carving its name with the title of “The Tea Nation of the World” due to the country’s strengths in this sector.

“Sri Lanka the country has all the strengths which will allow her to occupy the position of The Tea Nation of the world”, MAS Holdings Director Branding and Strategic CSR Rvi Fernando said.

He made this observation at the successfully concluded Tea Convention Workshop held last week in Colombo.

In order to achieve this it is important to have the Best and most ‘Sustainable tea plantations’ –Green gold, Best tea auction base, Best tea blending base, Best tea research and Innovation base-Consumer led, Best tea tasting base and Best tea value addition base.

“There are six ideas that can help to achieve this and the first one is to start with a mindset change like asking yourself “are you content to be the ‘Commodity supplier ’ of bulk tea to the brands of the world or are you going to ‘build brands’?”.

The second step is by creating two base categories such as Blended Ceylon tea and Pure Ceylon tea. Third step is to have Sustainable Plantations where all Plantations adopting world class ‘Environmentally sustainable’ practices should have validated and certified (ISO 14,000/Rainforest alliance/FSC), adopt ‘Social sustainability’ and uplift the image of the plantation worker to attract a new caliber of worker and manager and improve ‘Economic sustainability’ benchmarking the best. More>>

Tea production up by 10.3% in July

Daily Mirror/Tuesday, 11 September 2007

The Sri Lanka Tea Board announced that the total reported production of tea in Sri Lanka during July 2007, amounted to 26,185,230kg as against 23,732,374kg, produced during the corresponding month in 2006. This shows an increase of 2,452,856kg or 10.3%.

The total tea production during the period January to July 2007 amounted to 169,819,762kg, as against 188,283,495kg, produced during the corresponding period of 2006, shows a decrease of 18,463,733kg or 9.8%. More>>

Presidential Award for Attapattu

Daily Mirror/Tuesday, 11 September 2007

With the Presidential Awards ceremony not having taken place in year 2005, the 32 winners for that year were given awards of excellence for their achievements in the respective categories by President Rajapaksa at a ceremony held at the Presidential Secretariat on 23rd August 2007.

Kiran Attapattu, Chairman of Colombo Engineering Enterprises, Professional ship repair experts and service providers in the shipping sector was awarded the Presidential Export Award for year 2005 in the ship repairing service sector.

Mr. Attapattu has been a leading award winner in the shipping sector for the last 15 years. More>>

Strategies, constraints for tea growth discussed

Daily News/Monday, 10 September 2007

Hiran H. SENEWIRATNE

The tea industry stakeholders are looking forward to adopt a differentiation strategy to be more competitive in the international market averting to low productivity level and high cost of production in the sector.

GLOBALIZATION increases the opportunities for firms to think beyond their national boundaries and adopt new trends in management and business to overcome the challenges, was revealed at a workshop in Malaysia on “Winning Strategies for Success in Plantation Companies”.

It was organised by FT Services in collaboration with Peligo Training Solutions, Malaysia and was coordinated by Kushan Dharmawardena - a management trainer and promoted by Director/Ch- ief Executive Officer of Bogawantalawa Tea Estates Ltd, Sarath Fernando.

The importance to consider what strategies and best business and management practices senior executives in plantation companies could adopt to maximise their potential and overcome managerial challenges were chiefly discussed.

Malaysia is successfully promoting tea by adopting various strategies to cater to the consumers of various age groups to penetrate into different market segments in the country, Fernando said.

In the tea sector offering unique products with high value addition should be the strategy for the survival and sustainable growth in the industry, he said.

At present Sri Lanka export value added tea only 35 per cent of the total production, which needs to be increased to 65 per cent within next few years. More>>

Tea Report

Bartleets Weekly Tea Surveillance Report upto September 5:

Tippy catalogue gains in strength

Daily News/Monday, 10 September 2007

SALE number 35 at the Colombo Auction witnessed a total of 5.90mkg arriving this week as compared with 5.98mkg in the previous sale. Some 0.760 mkg of these were Ex-estate teas as compared with 0.786mkg last week.

The Tippy catalogue gained in strength during the sale as strong demand for flowery types such as FF’s and FF1 grades exerted upward momentum on prices. Iran played an important role with active buying on these grades.

Dubai and the CIS were moderately active whilst exporters representing Saudi Arabia were very selective during this week’s sale that witnessed ‘Very Tippy’ teas meeting with strong demand.

The Leafy market picked up this week across all grades except for the BOP1’s. ‘Bottom Pekoes’ in particular gained by as much as Rs. 10 per kilo whilst OP1’s also picked-up as buyers showed strong interest. More>>

Impartial mediation to redress traders’ grievances with THC - SC

Daily Mirror /Monday, 10 September 2007

By S.S.Selvanayagam

Sequent to fundamental rights violation petition filed by local exporters complaining of the purported Terminal Handling Charges (THC) on exports from Sri Lanka on a ‘Free on Board’(FOB) basis, the Supreme Court last week suggested that an independent mediator should be appointed to look into the grievances of export and import trades.

Bench comprising Chief Justice Sarath N.Silva, Justices N.G.Amaratunga and Jagath Balapatabendi also suggested that the mediator could resolve and mediate the matter in dispute between the Sri Lankan Shippers and foreign shipping lines.

It was also suggested that this panel would be chaired by the Director of Merchant Shipping and would have one representative from the petitioners and other one from the Sri Lanka Association of Vessel Operators as well as one nominee of Sri Lanka Ports Authority be included as observer. The matter is listed to be taken up on October 18.

The petitioners stated their export contracts are mostly Free on Board instead of Costs, Insurance and Freight (CIF) and that in CIF contract, Sri Lankan Shippers is able to negotiate with the shipping lines in a single freight charge all-inclusive freight rate including all ports charges.

In this CIF contract, they claim that they have bargaining power to negotiate whereas in the FOB contract, the freight rate is not paid by Sri Lankan shippers but by the foreign buyer who negotiate with the shipping lines an all inclusive freight rate.The foreign buyers who are in high bargaining power are able to secure the lowest freight rate from the shipping lines, they stated. They maintain that however the shipping lines instead of including THC as part of the freight rate payable by the buyer passes the liability illegally to Sri Lankan shippers at this end instead of foreign buyers. More>>

Ceylon Leather reviving DI

Sunday Times /Sunday, 09 September 2007

By Duruthu Edirimuni

The Ceylon Leather Products Ltd (CLPL), Sri Lanka’s largest domestic leather manufacturer, is cleaning up its debt by selling off valuable land and reviving the once-popular DI brand which has lost its shine. Officials said the company plans to sell one of its lands at Mattakkuliya in a bid to clean the loan book and be debt free, begin the modernisation process and better manage its working capital.

Nimal Samarakkody, CLPL Chairman, told The Sunday Times that the company will sell either the factory or the tannery at Mattakkuliya within the next two weeks at the best price. “We want to become a debt free company and negotiations for one if the lands to be sold are going on,” he said.

CLPL’s factory and office located in a 3.4 acre plot is estimated at Rs. 340 million while the 4.75 acre tannery is valued at Rs. 380 million, according to stock market analysts. Both are located at Mattakkuliya.

One analyst said the company plans to settle its liabilities of Rs. 180 million to state banks together with other liabilities of Rs. 20 million and shift the factory to Gampaha or Kadawatha. However Samarakkody declined to comment on whether the company was being relocated.

The analyst said the company felt that the two large lands is not earning anything for the company and this was the main reason it has decided to sell them and shift a factory to Gampaha or Kadawatha. He said CLPL would be spending Rs. 65 million on the new property. “They have a monopoly of business from the forces and the company will improve tremendously by this move because they will be better able to manage their work load,” he added. Samarakkody said the company’s order book is filled till end of 2008 and the company after cleaning its loan book will start on the modernisation of the plant. “We will revive the DI brand. Our strategy is to increase exports and to expand on our leather products area such as accessories,” he said, adding that the company has taken Dr. Uditha Liyanage, a renowned marketer, onto the board in a bid to revive the DI brand, valued at Rs.15 million. More>>

Canadian business leader meets Canada council in Colombo

Sunday Times /Sunday, 09 September 2007

The Sri Lanka-Canada Business Council which is affiliated to the Ceylon Chamber of Commerce in collaboration with the Canada–Sri Lanka Business Council (CSLBC) based in Toronto, Canada, organized a meeting with Ms. Louise Roberge, the newly elected President of the Canada-Sri Lanka Business Council in Colombo recently.

Ms. Roberge is also the President of the Tea Association of Canada, a very powerful non-profit organization promoting tea in Canada.

The meeting provided an opportunity for the members to gain an understanding of the CSLBC, its mission, achievements and future operational plans.

The presentation made by her also focused on trade statistics, Canada's strengths, and the barriers faced in promoting business with Sri Lanka. Ms. Roberge also provided very useful information with regard to the tea industry in Canada and prospects for Ceylon Tea, the CCC said. More>>

Brandix opens Centre of Inspiration for Casualwear

Sunday Times /Sunday, 09 September 2007

Brandix, Sri Lanka’s largest apparel exporter, recently inaugurated a centralised facility for its Casualwear business in Ja-Ela. The 270,000 square foot Brandix Centre of Inspiration (BCI) is the group’s Casualwear Business Unit’s one-stop point for design to delivery, and assures customers of undivided and complete service. The uniquely designed facility houses a top notch product development and design centre, a central warehouse, a state of the art cutting facility and a centralised marketing and merchandising operations, the company said.

Officiating as Chief Guest at the ceremonial inauguration of the Brandix Centre of Inspiration, Fisheries and Aquatic Resources Minister Felix Perera described the Centre as a model for others in the apparel sector and said he was extremely proud to see such a modern facility in his electorate.

“At a time when countries like China and Vietnam are emerging as a serious threat to Sri Lankan exporters, the values, uncompromising quality and value addition of companies like Brandix will help us face the challenges,” the minister was quoted as saying. He said the growth and market share achieved by Brandix in a short space of time was an extraordinary feat for any company.

Brandix Casualwear forms the backbone of the Brandix Group’s product portfolio, and specialises in woven bottoms - basic pants, cargo pants, 5-pocket jeans, shorts and skirts. It has seven production facilities which include a state-of-the-art fully automated denim facility, the first of its kind in Sri Lanka. The fully integrated process utilizes the advantages generated by the Group's vertical linkages to source woven fabric, finishing, accessories and high end washes. More>>

Business Feature:

Increase in coconut sector export earnings in first half

Daily News/Thursday, 6 September 2007

Coconut, one of the major plantation crops, other than tea and rubber plays a pivotal role in the economy of Sri lanka. It is largely consumed locally as a major protein and fat supplement and the surplus utilised by the industry as a raw material to manufacture number of products.

Sri Lanka exports about 30-35 major category of coconut products to more than 100 destinations all over the world. Export performance of the coconut sector continued to express a strong tone over the past few years.

In 2006 Sri Lanka’s foreign exchange earnings from exports of coconut products amounted to over 19 billion Sri Lankan rupees and coconut products exports of Sri Lanka over the first half of 2007 registered an improvement of 30 per cent to Rs. 11,104 million against the corresponding value of Rs. 8,546 million in 2006. At this pace export earnings of coconut sector is estimated to reach 25 billion rupees mark in 2007.

Chairman, Coconut Development Authority (CDA) D.J. U. Purasinghe said this significant achievement was attributed by implementation of industry favourable policy framework initiatives and supportive role by CDA and prevailed conducive international market scenario for coconut based products.

Chairman, CDA further mentioned that export performance of coconut kernel based products over the first half of 2007 showcased a substantial growth by 38 per cent in value and earnings from this sector amounted to rupees 5,152 million against Rs. 3,728 million in first half of 2006.

Amongst the kernel based products Desiccated Coconut (DC) exports over the first half of 2007 amounted to 22,103 tonnes and this was a 39 per cent growth in volume as compared to 15,871 tonnes over the corresponding period in 2006. Leading importers of DC over the period under review are Middle East and European countries. More>>

FCCISL Machinery Exhibition finest opportunity for SME enterprises

Daily News/Thursday, 6 September 2007

The annual Machinery Exhibition organised by the Small and Medium Enterprise Developers (SMED) of the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) will be held at the Sirimavo Bandaranaike Exhibition Centre (BMICH) from November 2 to 4.

It will be a good opportunity for industrialists, specially for the SME sector to select their machinery requirements, ancillary equipment, processes, methods and new technology.

It would also provide an opportunity for the machines and equipment manufacturers to market their products by show-casing them at this Exhibition.

As the theme of this year’s exhibition “Technology for Rural, Micro and SME Development” depicts, the objective is to strengthen SMEs to become competitive enterprises manufacturing good quality products and services at affordable prices and to promote innovative production processes in the SME sector, which generates employment opportunities.

While the SMED collaborates with the Ministry of Industrial Development in organising the Machinery Exhibition, Ministries of Rural Industries and Self Employment Promotion; Science and Technology; Investment Promotion and Enterprise Development and World Association for Small and Medium Enterprises (WASME) co-partner the exhibition.

There will be foreign and local participation and countries like India, Pakistan, China, Thailand, Malaysia and Vietnam are expected to participate. More>>

Government to set-up regional industrial parks in difficult areas

Daily News/Thursday, 6 September 2007

The Ministry of Industrial Development has decided to set-up a number of Regional Industrial Parks in selected areas to cater to local industrialists and create employment for unemployed youth in the rural areas.

Additional secretary of the Ministry of Industrial Development R.V.D.Piyathilaka says these Industrial parks will be developed within the next eight months.

These parks will be set-up in Puttalam, Trincomalee, Buttala, Pallegodawatta and Galigamuwa.

At present preliminary works on these parks have commenced and the Ministry has selected industrial areas to allocate lands.

The Secretary said the Ministry wants to allocate lands, which use local resources to manufacture various industrial products.

Trincomalee - Kappalturai Industrial park will allocate 10 hectares under the first stage of the project and the Government plans to invest over Rs. 200 million to develop basic infrastructure. Agriculture, fisheries, vegetable and fruit processing sectors will receive priority at this park.

All selected industrialists will receive buildings, lands, water, electricity, telephone and other necessary facilities to start their industries. More>>

Qatar fund eyeing to invest in Asia
State-owned Qatar Investment Authority (QIA), which is reportedly interested in buying almost a third of the London Stock Exchange, said Tuesday it was considering expanding in Asia.

“What we are looking to do is to increase the exposure (in Asia), but not necessarily at the expense of building things up in the US or Europe,” QIA’s Head of Strategic and Private Equity Kenneth Shen, told reporters on the sidelines of the China-Middle East Investment Forum in Dubai.

He said the fund was looking “across the gamut” of Asian nations, including China, Japan and Vietnam, adding that “financial institutions and consumer-export orientated sectors” were attractive prospects.

QIA already owns a multi-million-dollar stake in the Industrial and Commercial Bank of China, the nation’s top lender.

The QIA-backed Delta Two fund is also interested in buying Nasdaq’s 31-per cent stake in the London exchange, the Financial Times reported without citing its sources.

Over the weekend, Britain’s Sunday Times reported that Qatar had made an informal bid of almost 1.0 billion pounds (1.48 billion euros, 2.02 billion dollars) for Nasdaq’s LSE holding.

Shen declined to comment on the press reports.

Delta Two in July bid 15.8 billion euros for Britain’s third-biggest supermarket group J Sainsbury.

Oil and gas-rich Qatar, along with its wealthy Gulf Arab neighbours, is looking for long-term assets to diversify its economy, which is heavily dependent the energy industry. More>>

BoI signs agreements for two new projects

Daily News/Thursday, 6 September 2007

The Board of Investment of Sri Lanka entered into agreements with Binary Systems (Private) Limited and Rainbow Agro (Private) Limited for two new projects worth Rs. 40 million and US $ 400,000.

Chairman/Director General Dhammika Perera signed the Agreements on behalf of the BOI.

The agreement with Binary Systems (Private) Limited was for a project to manufacture garments for the export market. On behalf of Binary Systems (Private) Limited A.N.H. Gunawardena and Zafraz Lameer signed the agreement.

The factories will be located at the Miyokkawatta, Arachc- hikanda and Hikkaduwa. This project will provide employment for over 250.

The agreement signed with Rainbow Agro (Private) Limited was for a project to manufacture value added coir products (Coco peat blocks and coco peat briquettes) for the export market. The project will operate from Makandura Industrial Estate and is expected to provide over 100 employment opportunities.

The agreement was signed by H.K. Rikhye and Gangadharan Pillai on behalf of the Rainbow Agro (Private) Limited. More>>

‘FTA helped Lankan exports to Pakistan’

Daily News/Wednesday, 5 September 2007

Hiran H. Senewiratne

The balance of trade between Sri Lanka and Pakistan should be brought to a level playing field, which is at present in favour of Pakistan, Former Vice President, Federation of Pakistan Chamber of Commerce and Industry, Arshad Alam said.

At present the total value of trade in both countries is US$ 250 million, which needs to be raised to US $ one billion by moving away from traditional ways of trade patterns, which prevailed for more than 50 years, Alam told the Daily News Business.

More than 15 trade delegates came to Sri Lanka to promote trade between both countries. These trade delegates organised a mini trade show, which exhibited non-traditional items.

Alam came to Sri Lanka with a Pakistan trade delegation to promote trade between both countries. He said Sri Lanka reached a new level in bilateral trade and economic cooperation following the Free Trade Agreement (FTA) in June 2005. More>>

Business Gem & jewellery

International Jewellery Show - 2007:

Daily News/Wednesday, 5 September 2007

Lanka dazzles in Singapore

A record number of exhibitors and visitors at the Singapore International Jewellery Show - 2007 (SIJS) held from August 23 - 26 at the ‘SUNTEC’ Singapore International Convention and Exhibition Centre.

The event was a 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 three year history and set records in terms of visitors, exhibitors and exhibition space.

The Show boasted over 148 Booths including leading jewellers in Singapore and Asian countries and six International Pavilions representing the broadest range of product categories, the utmost convenience and superior amenities.

Singapore’s jewellery sector is an important component of their retail industry. There are about 750 jewellery retailers in Singapore yet they contribute more than $1.4 billion in revenue.

Jewellery is also one of the top three items purchased by tourists in Singapore.

The organizers of “SIJS” granted the status of “Country Partner” to Sri Lanka which gave worldwide publicity to the country as the Sapphire Capital of the world. More>>

Seminar on how to conduct business in today’s environment

Daily News/Wednesday, 5 September 2007

The Ceylon Chamber of Commerce, in cooperation with the Confederation of Asia-Pacific Chambers of Commerce and Industry, will conduct a seminar on “How to conduct business in today’s environment” tomorrow at the Longdon Room, Hotel Taj Samudra.

Today’s global economic environment poses many challenges for business to succeed. There are many policy changes, both local and international which affect business.

There is the push for liberalisation and globalisation with the new focus on social responsibility, and the emphasis for green products, rapid development in new technology calling for business innovation, and e-Commerce, among others, all requiring serious consideration in business planning and execution.

One must adopt financial strategies to cope with today’s credit risks management. The seminar discusses some pitfalls and potential land mines in today’s business environment.

The stakes are indeed high. While there are challenges there are also new opportunities for business. The speakers will take up practical approaches to deal with both challenges and opportunities.

The speakers include an academician who keeps up with today’s challenges and a business entrepreneur who also plans to offer joint venture opportunities during his presentation.

They will both interact with participants on the topics to be discussed to give the seminar a practical and innovative approach in facing the challenges and to succeed in today’s business environment.

Leoncio Cubillas, is a consultant and trainer from the University of the Philippines, a renowned state university in the Philippines. He specialises in Entrepreneurship Development and Planning, Production, Marketing, Entrepreneurial Finance, Feasibility Studies, and Technology Assessment, among others. More>>

Investments total Rs. 112 million:

BOI agreements signed for exports

Daily News/Wednesday, 5 September 2007

The Board of Investment had entered into three agreements with investors. These new projects are for cultivation and processing of nelli fruit and other fruits and vegetables for export, the manufacture of garments and bags for export, and the processing of jellyfish.

The Agreements were signed by Chairman/ Director General of the Board of investment of Sri Lanka, Dhammika Perera on behalf of the BOI, and Dr Sarath Amunugama Minister of Enterprise Development and Investment Promotion formally presented the Agreement documents to the investors. Details of the projects are as follows:

One project will engage in the cultivation of Nelli and other fruits for export. The investors are S.H Jayasena and Mrs G. Barber. This is an investment of Rs 25 million that will employ 30. A total of 70% of the production will be exported. The location of the project will be in Galadhigalandehena in Badulla.

Jayasena said that nelli is a very beneficial fruit as it is used for Ayurveda medicine. He has imported nelli clones from India. Nelli is used to be very popular in Sri Lanka and it is found in the ancient medicinal forests but the local variety has degenerated unlike the variety found in India.

The purpose of this project is therefore to build up the local variety of nelli as well as other indigenous fruit and vegetables. Jayasena added that he is working very closely with Peradeniya University and the Ayurveda Department. More>>

It’s snack time with Sri Lanka’s Hyson Tea

Daily News /Tuesday, 4 September 2007

SRI LANKA is known for its top quality tea and one of its best known brands, Hyson Tea, has come to Bangalore. Twelve different flavours of tea will be distributed by Lekkad Exports and Events Pvt. Ltd across the country.

At the media launch of Hyson Tea here on Friday, Hyson Tea Marketing Manager Sahampathy Dissanayake said his brand has a wide range of value added products to every taste, culture, mood and moment. Hyson Teas Pvt., Ltd., has been exporting Ceylon tea to over 25 countries, he added.

Dissanayake said that Hyson’s team of professionals and dynamic tea traders possess a collective experience of many years in international tea testing, blending, grading and trading.

The tea comes in diverse forms of packets, tea bags, metal tins, gift items and canisters containing a variety of black and green teas ranging from regular, flavoured, fruit, specialty blends, herbal, cocktail and liquor teas.

Lekkad Director Sagar Lekkad said initially they would import Hyson tea in teabags (of two gram each) and their target would be major corporate houses. Later, they would also import loose tea, he added.

The official launch will take place on Saturday with the Union Minister of State for Planning M.V. Rajashekharan releasing the Hyson tea products. More>>

Thai assistance for local gem and jewellery sector

Daily News /Tuesday, 4 September 2007

Thailand has agreed to provide assistance to upgrade technology, designs, product development, skills development of members of the Sri Lanka gem, diamond and jewellery trade.

This is following the Memorandum of Understanding signed by the Chairman National Gem and Jewellery Authority (NGJA) with President of the Thai Gem and Jewellery Manufacturers Association (TGJMA) in March 2006.

As Thailand is in the forefront in the world gem and jewellery trade, this would be a good opportunity for Sri Lankan members of the trade to benefit from their expertise.

TGJMA has indicated that they are ready to commence the training programme and for Lanka to nominate selected trainers to undergo the training programme.

It is expected to send trainers on jewellery manufacturing nominated by the Gem and Jewellery Research Training Institute (GJRTI) on jewellery designing and jewellery manufacturing and Sri Lanka Gem and Jewellery Association (SLGJA). More>>

Unique paper product:

Maximus bags Presidential Export Award

Daily News /Tuesday, 4 September 2007

World’s first elephant dung paper manufacturer and last year’s BBC World Challenge 2006 winner, Maximus walked away with the Presidential Export Award for the sector handcrafted paper products.

It was in 2005 that the American Apparel and Footwear Association (AFFA) recognised the work done by maximus in turning out elephant dung to an unique paper product and awarded them the “Excellence in Social Responsibility” award at another ceremony in Florida, USA.

Value added products manufactured by Maximus are now exported all over the world thus bringing in much needed foreign exchange to the country. More>>

Seminar on foreign exchange risks and hedging structures

Daily News /Tuesday, 4 September 2007

The Sri Lanka Shippers’ Council (SLSC) and the Academy for International Trade and Transport (AITT) the training arm of the Sri Lanka Freight Forwarders Association (SLFFA) together with Standard Chartered Bank are conducting a seminar on the tools and products available to manage and hedge foreign exchange exposure.

The primary objective of the seminar is to update those involved in international trade as well as international transport providers and allied service providers about the global products and best practices in the management of foreign exchange risks.

The seminar will be held on September 7 from 3 to 5.30 pm at the Bandaranaike Centre for International Studies (BCIS - BMICH).

The programme will give participants an understanding of foreign exchange risk, the hedging products available and how a company can select the option best suited to their individual exposure and industry. More>>

MAS Active ties-up with Fastreact

Daily News /Tuesday, 4 September 2007

MAS Active, part of the Sri Lankan based MAS Holdings, has chosen Fastreact to provide its production planning and control functions, including both capacity and critical path management, working with and interfaced to its SAP business system.

MAS Holdings in design-to-delivery solutions intimates sports apparels for the world’s leading brands. The largest in the region, MAS operates 28 world class manufacturing facilities, two design studios and a sourcing and innovation arm across seven countries.

Backed by a strong raw material supply base the group employs over 41,000 people. MAS Active is the fastest growing sports and active fashion wear manufacturer in the region servicing top brands Nike, GAP, adidas, Victoria’s Secret and numerous other global market brands. More>>

Rubber plantations offer opportunities for carbon trading business

Daily News /Tuesday, 4 September 2007

Dr. N. YOGARATNAM, Consultant/ National Institute of Plantation Management

For over a decade, evidence has been growing that accumulation of green house gasses in the upper atmosphere is leading to changes in climate, particularly in temperature.

Average global surface temperature increased by 0.6 +/- 0.2 degrees C over the 20th centaury and is projected to rise by 0.3 - 2.5 degrees C in the next 50 years and 1.4 - 5.8 degrees C in the next century.

Global warming changes the earth’s atmospheric circulation and is linked to changes in patterns of precipitation and the frequency and intensity of extreme climate events. The economic and ecological consequences of global warming will vary by region, but in the tropics, it will likely to threaten production of crops and may even become a major cause of species extinction. More>>

Pakistan Trade delegation in town

Daily News /Tuesday, 4 September 2007

A trade delegation from Pakistan is currently in Sri Lanka and the High Commission has organised a one day mini-exhibition at ‘Salon Anthurium Galadari Hotel’ today from 10.00 a.m. to 2.30 p.m.

The members of the delegation mainly represent the companies manufacturing motorcycles, electric fans, machinery used in the pharma industry, sanitary fittings, cutlery and kitchen tools, cotton and synthetic yarn, leather goods, sports wear and footballs, wooden furniture and handicrafts, cement productions, pencils and ball points, surgical and dental instruments, handmade carpets and other handicrafts and traders of fruits, onion, potato mandarin and rice. More>>

Sri Lanka dazzle at the Singapore International Jewellery Show

Daily Mirror /Tuesday, 4 September 2007

A record number of exhibitors and visitors at the Singapore International Jewellery Show – 2007 (SIJS) held from August 23 – 26, at the ‘SUNTEC’ Singapore International Convention & Exhibition Centre, 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 three year history, and set records in terms of visitors, exhibitors and exhibition space. The Show boasted over 148 Booths including leading jewelers in Singapore and Asian countries and 6 International Pavilions representing the broadest range of product categories, the utmost convenience and superior amenities.

Singapore’s jewellery sector is an important component of their retail industry. There are about 750 jewellery retailers in Singapore, yet they contribute more than $1.4 billion in revenue. Jewellery is also one of the top three items purchased by tourists in Singapore.

The organizers of “SIJS” granted the status of “Country Partner” to Sri Lanka which gave worldwide publicity to the country as the Sapphire Capital of the world. More>>

Mid year coconut product exports post 30 % growth

The Island /Tuesday, 4 September 2007

Sri Lanka was able to achieve a 30 per cent growth in coconut product exports during the first half of 2007 in comparison to the first half of 2006. The country has exported products which were grouped into 35 categories to more than hundred export markets. More>>

A solid tyre plant to be set up:

Laugfs tyres for Aussie market

Daily News /Monday, 3 September 2007

Hiran H. SENEWIRATNE

Sri Lanka is being considered as the “Capital City” of the solid tyres to the international market, which accounts for 35% of the world Solid Tyre manufacture and exports, out of which 23% is by Loadstar.

For the purpose of exporting solid tyre LCRL’s total investment for the solid tyre plant, which includes plant machinery, infrastructure development, pre-operational expenses a 2.43 hectares land has been chosen, Chief Executive Officer (CEO) Ananda Hadunge said.

He said that installation of plant and machinery is expected to commence by early November this year and the facility will be ready for commercial production early next year, he said.

The factory will manufacture and export solid tyres, since it has a great potential in the international markets including USA, Canada and Western Europe. With the reputation being the “Capital City” of solid tyres it has all the requirements and standards to compete with any global company in the world, he said.

According to Hadunge that once they start commercial operations they will manufacture 12 tonnes of tyres for a day and after six months their plan is to increase the capacity to 25 tonnes, which is roughly about between 400 to 600 tyres per day for the global market. More>>

Lanka participates in Malaysian mega trade fair

Daily News /Monday, 3 September 2007

A twenty member delegation comprising officials of the Sri Lanka Export Development Board (EDB) and the Sri Lanka - Malaysia Business Council (SLMBC) of the Ceylon Chamber of Commerce will be leaving shortly to participate at the 8th International Strategic Partnership and Business Networking Trade Fair for SMEs - Global SMEs 2007 scheduled for September 6-8 at MATRADE Exhibition and Convention Centre, Kuala Lumpur, Malaysia.

This is an historical event for the Sri Lanka - Malaysia Business Council as this is the first occasion the Council is participating at an Exhibition and will showcase Sri Lankan products under the banner “Sri Lanka Pavilion”.

According to the organisers, this year Thaiwan, Vietnam and Sri Lanka will be the main focus for the visitors at Global SMEs 2007.

The Council has made all arrangements for Sri Lankan companies participating at the above fair to meet the representatives from Associated Chinese Chambers of Commerce and Industry of Malaysia, Malaysian Associated Indian Chambers of Commerce and Industry and Malay Chamber of Commerce. The meetings will be facilitated by the Sri Lanka High Commission in Malaysia. More>>

Exploring new markets sought:

Textile sector new hunting ground for global investors

Daily News /Monday, 3 September 2007

The growing potential of India’s textile sector is not quite lost on global investors, who are crossing seven seas to invest in it.

The Rs 660-crore deal inked between asset management companies Blackstone

Group and Gokaldas Exports proves the point. It would not be an exaggeration to say that India’s textile industry is on the threshold of a major transition. The hefty deal signifies the start of an era of transatlantic consolidation in the textile sector.

Smaller players in the industry have realized that combining forces is the only way to boost exports and give a tough fight to emerging markets in neighbouring countries like Bangladesh, Sri Lanka and Vietnam.

Though rupee appreciation has had a negative effect on the morale of country’s exporters, they are trying to find a way to skirt around the problem by exploring newer markets. More>>

Akbar flavours draw Presidential Export Awards

Daily News /Monday, 3 September 2007

Hiran H. SENEWIRATNE

One of the leading tea exporters in Sri Lanka, Akbar Brothers Group won three Presidential Export Awards at a ceremony held at the Presidential Secretariat recently.

“The awards bear testimony to the Company’s relentless pursuit of adding values to the exports of Sri Lanka teas by branding, quality improvement and continuous innovations,” its Chairman Abbas Akbarally said.

The awards were handed over by the President Mahinda Rajapaksa for outstanding export performances.

The special award for the “Best Sri Lanka Brand Exporter”, the special award for the “Exporter to the highest number of Destinations” and the merit award for the “Exports of Tea in Value-Added Form” were the three awards won by the group.

“At present Sri Lanka produces 35 per cent value added tea and 65 per cent bulk tea for the export market. With the increase of value added tea produce for export of tea, the country could earn more foreign currency than bulk tea.

Therefore, this company now focus on value addition to face competition in the international market with new players to the trade.

“It is indeed a great honour for us to receive these awards from the President. It also exemplifies the commitment and dedication of our employees at all levels and the continued support from our customers worldwide”, Akbarally said. More>>

Lanka to enter Netherlands Horti Fair

Daily News /Monday, 3 September 2007

A.G. PIYADASA

THE Sri Lanka Export Development Board in collaboration with the Sri Lanka Embassy in the Netherlands will organise Sri Lanka’s participation at the International Horti Fair 2007 at Netherlands from 9th to 12th October 2007.

The International Horti Fair is an international meeting place for breeders, wholesalers, traders, specialised suppliers and service providers in floriculture. This is also considered as an annual meeting place to observe the newest trends and the latest developments in the floriculture.

An official of the Sri Lanka Export Development Board said that the producers and exporters of foliage plants, cut flowers, cut decorative leaves, nursery stocks, tissue cultured plants, aquatic plants, horticulture related coir products such as coir briquettes, coir poles, coir basket liners, coir baskets, coir pots will participate at this Horti Fair. More>>

GL looks to increase export ties with Azerbaijan

Daily Mirror /Monday, 3 September 2007

Prof. G.L.Peiris, Minister of Export Development and International Trade recently met with Dr. Tamerlan Karayev, Ambassador of the Republic of Azerbaijan and discussed a range of subjects that dealt with the promotion of export of goods and services between the two countries.

They centred around the need to increase the earnings of foreign exchange on the export of tea, high-quality ceramic products, confectionery products, electrical components and gems and jewellery in the goods sector and undertaking ship-repairing and construction in services sector.

Several leading Industrialists and Exporters also participated in this discussion. More>>

Trans Ceylon Gems and Jewellery at FACETS 07

Daily Mirror /Monday, 3 September 2007

The Facets 2007 Gem and Jewellery Show was held at BMICH recently. Here chief guest Dr. Sarath Amunugama, Minister of Enterprise Development and Investment Promotion, and A. H. M. Fowzie, Minister of Petroleum and Petroleum Resources Development visit the Trans Ceylon Gems and Jewellery booth. Managing Directors of the Trans Ceylon Gems and Jewellery Akram Saroof, Rizan Nazeer and Sri Lanka Gem and Jewellery Association Asst. Secretary, Ziqufi Ismail are also in the picture. More>>

Pakistani Trade delegation in Colombo today

Daily Mirror /Monday, 3 September 2007

A high powered trade delegation from Pakistan is visiting Sri Lanka from 3 – 6 September. The members of delegation cover vast number of industrial sectors of Pakistan.

The delegation is headed by Mr. Muhammad Imtiaz Ahmed, Chief Executive Officer of M/s Metro-Hi-Tech (Pvt) Ltd manufacturer of motorcycles and electric fans in Pakistan. The members of the delegation mainly represent the companies manufacturing motorcycles, electric fans, machinery used in pharma industry, sanitary fittings, cutlery and kitchen tools, cotton and synthetic yarn, leather goods, sports wears and footballs, wooden furniture and handicrafts, cement productions, pencils and ball points, surgical and dental instruments, handmade carpets and other handicrafts and traders of fruits, onion, potato mandarin and rice.

The High Commission of Pakistan has arranged their one to one sectoral meeting with the interested groups in Sri Lanka. The High Commission has also organized a one day mini-exhibition at ‘Salon Anthurium Galadari Hotel’ on 4th September 2007 from 10.00 a.m. to 2.30 p.m. More>>

Lankan business sector to expand trade with Maldives

Daily Mirror /Monday, 3 September 2007

A delegation led by Professor G.L. Peiris, Minister of Export Development and International Trade, visited the Maldives for two days to have discussions with the Government of the Maldives and the Maldivian business community about expanding significantly the business and trade relationship between the two countries.

Mr. Sarath de Silva, President of the Sri Lanka Fruit and Vegetable Producers’ Association, Mr. Dakshitha Thalgodapitiya, CEO/Secretary-General of the Chamber of Construction Industry of Sri Lanka, Ms.Lilakshini de Mel of the Ceylon Chamber of Commerce, Mr. Eberhard Hauser, Principal Advisor, SAARC and Trade Promotion Project of GTZ, and Mr. Roshanjith Sriniwasa, Advisor, GTZ, were the members of the delegation.

Dr. Mahmoodh Shanqee, Minister of Tourism and Civil Aviation of the Maldives, told Minister Peiris and the delegation about the extensive opportunities that would be available in the construction sector, since the government of the Maldives had decided to build 44 more resort hotels, while 10 more were in the pipeline. He expected a growth of about 40% in the tourism sector within the next 3 years, and a construction boon would therefore be anticipated. More>>

Sri Lanka focus at Global SMEs 2007 – KL

Sunday Times /Sunday September 2, 2007

Sri Lanka along with Taiwan and Vietnam is expected to be the focus of attention at a major trade fair for global small and medium enterprises in Kuala Lumpur next week.

This year’s 8th International Strategic Partnership & Business Networking Trade Fair for SMEs – Global SMEs 2007 from September 6-8 at the MATRADE Exhibition & Convention Centre in Kuala Lumpur will see the participation of a 20-member delegation of state officials and representatives of the Sri Lanka – Malaysia Business Council (SLMBC)

Organisers of the Sri Lankan delegation said this year Taiwan, Vietnam and Sri Lanka will be the main focus for the visitors at Global SMEs 2007.

They said this is the first time the Sri Lanka Malaysia Business Council is participating at an exhibition and will showcase Sri Lankan products under the banner “Sri Lanka Pavilion”.

The Council has made all arrangements for Sri Lankan companies participating at the fair to meet the representatives from Associated Chinese Chambers of Commerce and Industry of Malaysia, Malaysian Associated Indian Chambers of Commerce and Industry and Malay Chamber of Commerce. The meetings will be facilitated by the Sri Lanka High Commission in Malaysia. More>>

Back to Business project

Sunday Times /Sunday September 2, 2007

The ‘Back to Business’ Project of the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) recently won the World Award for Best Unconventional Project for SMES of the World Chambers’ Competition 2007.

FCCISL said it was the chamber in Sri Lanka tha\t won a prestigious World Award. According to World Chambers Federation, this honour gives international identification to the most cutting edge projects launched by local, regional, and international chambers of commerce around the world.

Recently the FCCISL held a ‘Back to Business Project Stakeholder Felicitation Ceremony’ to recognize and appreciate its financial, strategic, implementing and programme partners, the electronic media sponsor and all staff of the project. More>>

AAP recognized by London Chamber of Commerce

Sunday Times /Sunday September 2, 2007

The Academy for Administrative Professionals (AAP) recently received the Recognized Training Centre (RTC) status from the London Chamber of Commerce & Industry (UK).

The LCCI (UK) has over a century of experience in providing business related qualifications with over half a million student entries. The LCCI, UK qualification is recognized by employers, professional bodies and universities throughout the world.

The AAP said in a press release that it is now registering students for the London Chamber of Commerce & Industry Private Secretary’s Diploma Course, a qualification recognized world-wide.

The course in four modules is due to commence in October 2007.

On completion of the course students will be awarded three certificates – one from the LCCI for completing and passing the first three modules, and the second when a student passes all four modules. Prior to the student sitting for the London Examination, the Academy will conduct a mock examination on the modules and award a certificate on passing all the modules. More>>

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