Focus on origin identity of pure Sri Lankan tea

Daily News / Wednesday, 28 February 2007

Anjana Samarasinghe

Sri Lanka needs to promote the origin identification of local tea than promoting individual brands in the International market, to gain real benefits through the tea industry.

Speaking to the Daily News at the Sri Lanka tea sommelier competition which, was held last Monday at Waters Edge, Marketing Director, Dilmah, Dilhan C. Fernando, said that the country needs to create a origin identity for pure Sri Lankan tea where buyers could ask for “Nuwara-Eliya tea” or “Galle tea” not by the brand name. More>>

Discussion on recent VAT law amendments

Daily News / Wednesday, 28 February 2007

The National Chamber of Commerce of Sri Lanka will conduct a seminar/workshop on ‘Setting off of un-refunded VAT against other taxes and how to fill VAT returns correctly’ March 1 from 3.00 p.m. to 5.00 p.m. in its 4th Floor Auditorium, 450, D.R. Wijewardena Mawatha, Colombo 10.

The purpose of the seminar is to educate the business community mainly exporters who are entitled to funds of Value Added Tax paid in importing of raw material for export processing but not yet refunded. More>>

Hayleys, Brandix Lanka link-up to develop India’s Brandix Apparel City 

Daily News / Wednesday, 28 February 2007

Hiran H.Senewiratne

Two of Sri Lanka’s most respected business groups, the multinational Hayleys conglomerate and Brandix Lanka, the country’s largest apparel exporter, signed a Memorandum of Understanding (MoU) to collaborate in the development of Brandix Apparel City in India.

Under the agreement, Logiwiz, the Hayleys Group’s third party logistics specialist will design, construct and manage a 20-acre central logistics hub for the 1000- acre Brandix Apparel city at Atchyuthapuram in Andra Pradesh providing a comprehensive logistics solution for the park’s manufacturing entities, CEO- Brandix Lanka Ashroff Omar said. More>>

NCCSL seminar on VAT issues

Daily Mirror / Wednesday, February 28, 2007

The National Chamber of Commerce of Sri Lanka will conduct a seminar/ workshop on the above topic on Thursday, 1st March 2007 from 3.00 pm to 5.00 pm in its 4th floor Auditorium, 450, D R Wijewardena Mawatha, Colombo 10.

The purpose of the seminar is to educate the business community mainly exporters who are entitled for refunds of Value Added Tax paid in importing of raw material for export processing but not yet refunded.

With the recent amendments to the Value Added Tax Act, a scheme has been introduced where the businesses that have paid VAT in excess could set off such excess payments against the other taxes that they have to pay. As a positive response to the request made by the business community the Government has introduced a scheme where the business community could set off the VAT paid in excess against the other taxes payable. More>>

Personal Branding to win the world

Daily Mirror / Wednesday, February 28, 2007

By Kishu Gomes

In a world where brands rule, personal branding has come into the fore and I believe that it’s poised to reach new heights. In a fiercely competitive marketing environment products and services of all sorts are forced to stretch creativity beyond imagination to differentiate for unique positioning thereby creates competitive advantage to win in the market place. This challenge is equally true for people-for personal success with personal branding. More>>

Coffee Bean and Tea Leaf opens at BIA

Daily Mirror / Wednesday, February 28, 2007

The first Sri Lankan outlet from America’s oldest specialty coffee and tea retailer has opened in the departures lounge of Bandaranaike International Airport.

The Coffee Bean and Tea Leaf set up in 1963, is the largest and oldest privately owned speciality coffee and tea retailer in the U.S. with over 590 locations worldwide. Since the introduction of gourmet coffee and tea to the Asia-Pacific region in 1996. The Coffee Bean and Tea Leaf has opened more than 170 successful stores across Singapore, Malaysia, Taiwan, Brunei, Korea China, Australia, Indonesia, the United Arab Emirates, Bahrain, Kuwait, Egypt and is now in Sri Lanka. More>>

Taj’s Adhikari is Lankan winner of world’s first Tea Sommelier competition by Dilmah

Daily Mirror / Wednesday, February 28, 2007

By Zazna Jihan

Dilmah Tea initiated its first ‘Tea Sommelier Competition’ yesterday at the Waters Edge. Nearly 30 Sri Lankas’ star class hotels participated in the competition. The competition was held to select a star class hotel for the Asia Pacific Dilmah Tea Sommelier Competition.

The Dilmah Tea held the competition with the cooperation and support of the Chefs Guild Lanka. More>>

Hayleys, Brandix to build $15 mn logistics hub in Apparel City, Andhra Pradesh

Daily Mirror / Tuesday, February 27, 2007

Say Govt. needs to push private firm expansions overseas

By Sunimalee Dias

Sri Lanka needs to push local companies to expand overseas in achieve the targets it has set, a head of a multinational conglomerate said yesterday.

The private sector needs to not only operate within Sri Lanka, but to ensure development of the country they need to move overseas because it is only those who work and compete with global products who could survive in the market, Hayleys Ltd. Chairman N.G. Wickremeratne said. These observations were made following the signing of an MoU between Hayleys and Brandix to develop Apparel City in India. More>>

Sri Lanka pushes for expansion of trade with overseas markets

Daily Mirror / Tuesday, February 27, 2007

Department of Commerce briefs Ceylon Chamber of Commerce on current
situation

In continuation with the Chamber’s policy of promoting closer contacts between the Chamber Members and Sri Lanka’s trade representatives overseas, the Ceylon Chamber of Commerce organized a meeting with eight Department of Commerce officials who have just returned from their overseas postings.

This meeting offered members the opportunity of listening to the expert advice of Mr. G Senadhira, Director of Commerce, Mr. A A K Perera, Director of Commerce, Mr. Saman Udagedara, Deputy Director of Commerce, Mr. Abdul Rahim, Deputy Director of Commerce, Mr. D G A P Dharmapriya, Deputy Director of Commerce, Mr. P A S Ponnamperuma, Assistant Director of Commerce, Mr. D D Premaratne, Assistant Director of Commerce and Mr. A P J N Kumara, Assistant Director of Commerce who have returned from their postings in UN – Geneva, Brussels, Washington, Mumbai, Tokyo, Riyadh, Moscow and Sweden. More>>

AEN Palm Oil Processing embarks on lucrative oil manufacturing plant

Daily Mirror / Tuesday, February 27, 2007

AEN Palm Oil Processing (Pvt) Ltd. ceremonially started operations of their palm oil manufacturing plant in Baduraliya, recently. AEN Palm Oil Processing (Pvt) Ltd. is a joint venture between three well-known plantation companies in Sri Lanka; namely, Agalawatte Plantations, Elpitiya Plantations and the Richard Pieris managed Namunukula Plantations. In a bid to diversify Sri Lanka’s main agricultural export crops, Asian Development Bank has initiated Oil Palm cultivation in Sri Lanka and the AEN operation has been set up under this scheme with the assistance of the ADB.

Oil Palm, a plant that is native to Africa is presently grown heavily in Indonesia and Malaysia for commercial reasons where they extract the oil for export purposes. At present the three companies under AEN Palm Oil Processing (Pvt) Ltd. have successfully cultivated more than 3000 hectares of Oil Palm in the south-western region of the country. More>>

Minister calls for easing constraints on exports

Daily News / Monday, 26 February 2007

Minister of Export Development and International Trade Prof. G.L. Peiris requested chairman, Export Development Board to bring to his notice any crucial issues with regard to the constraints in export development to intervene as Minister to resolve the issues.

Prof. Peiris made the request when he visited the export Development Board with the Minister of Exports Development after assuming duties.

Although logistical areas such as water, electricity and road infrastructure does not come under the purview of Ministry of Export Development, EDB should take every effort to achieve the optimum action to remove constraints in achieving the overall export performance targets with minimum excuses. More>>

FAO promotes new coconut water preservation process to help small farmers

Daily Mirror / Monday, February 26, 2007

The United Nations Food and Agriculture Organization (FAO) is seeking to boost sales of bottled coconut water by small farmers with a simple cold preservation process that protects the natural taste for up to three weeks while avoiding the loss of nutrients and almost all the delicate flavour entailed in commercial canning.

“The cold preservation process requires little investment and skills, and it offers small entrepreneurs a chance to enter the market of bottling coconut water of good quality,” FAO Rural Infrastructure and Agro-industries Division officer Rosa Rolle said of a new training guide produced by the agency to promote the process. More>>

Shippers, freight forwarders warned of chaos over new EU Customs move

Daily Mirror / Monday, February 26, 2007

The head of the freight industry's leading software organisation warned importers, exporters and forwarders to brace themselves for major disruption when Customs switch over to a new system on July 1st, this year.

Peter MacSwiney, chairman of Agency Sector Management (UK) Ltd, warned a conference at ASM’s headquarters near Heathrow that current plans to implement new regulations, based on the new harmonised SAD (Single Administrative Document) could lead to a disaster as freight forwarders and their staff grapple with completely unfamiliar customs declarations and largely untested software. More>>

FTAs with Sri Lanka and China: Pakistan failed to take advantage of FTAs: KCCI chief

Daily Mirror / Monday, February 26, 2007

KARACHI: Daily Times: Pakistan has not been able to take the desired advantage from the two Free Trade Agreements with Sri Lanka and China.

Karachi Chamber of Commerce and Industry President Majyd Aziz stated this while presiding over the inaugural meeting of the KCCI Special Committee on Regional Economic Affairs.

On the contrary, both these countries have substantially increased their exports to Pakistan. The prime reason is that the business community of Pakistan does not have comprehensive knowledge or information about these FTAs. More>>

Freight Care new cargo GSA for Air France

Daily Mirror / Monday, February 26, 2007

Air France Cargo appointed Freight Care (Pvt.) Limited, a member of the Expolanka Group of Companies as their new General Sales Agents for Cargo Sales in Sri Lanka.

Air France merged with KLM in May 2004, and currently operates to more than 400 destinations with a fleet exceeding 500 aircraft. As a result of this merger, Air France KLM has become the market leader in the airline industry based on the aim of creating a platform to enhance value for customers. More>>

British Standards Institution, launches operations in Sri Lanka

Daily News / Monday, 26 February 2007

The British Standards Institution (BSI), the National Standards body in the United Kingdom, announces the launch of its operations in Sri Lanka this month. With over one hundred years of achievements, BSI is one of the world leaders in advancing industry and business for a better quality of life.

Founded in London in 1901 as the ‘Engineering Standards Committee’, BSI is the world’s oldest National Standards Body (NSB) and a founder member of the ISO. More>>  

Lanka loses Rs. 1 billion due to drop in fruit and vegetable exports

Daily News / Sunday, 25 February 2007

by Surekha Galagoda

Exports of fruits and vegetables from Sri Lanka have dropped by 30% resulting in a revenue loss of one billion rupees to the country while vegetable prices have skyrocketed during the last one-year in the domestic market too.

Therefore releasing lands for 100 model farms by exporters who will provide inputs, market and transfer hi-tech immediately to out- growers is most heartening if we are to come out of the crisis, that we are facing at present, said the President of the Sri Lanka Fruit and Vegetable Producers, Processors and Exporters Association (SLFVPPEA) Sarath De Silva. More>>

Tea market comments

Daily News / Saturday, 24 February 2007

Sale No. 8, which was concluded this week, comprised of 5.0 m/kgs. There was good demand all round.

Ex Estate offerings totalled a 5.0 m/kgs. Quality was irregular from most High and Mid grown planting districts. Yet there was good demand over all establishing a number of All Time Record Prices as highlighted in our Top Price page. Improved Western BOP/BOPF gained Rs. 30-40 per kg and more.

The Plainer clean leaf varieties too appreciated. The poor leaf sorts were however, irregular and prices too fluctuated accordingly. Nuwara Eliyas together with Uva / Udapussellawas met with better demand and prices gained Rs. 10-15 per kg and at time more on last. More>>

Gem and Minerals of Sri Lanka on display

Daily Mirror / Saturday, February 24, 2007

The Gemmologists Association of Sri Lanka organized “The Gem and Minerals of Sri Lanka” at the Women’s International Club, Guildford Crescent, Colombo 7 will conclude today.

It began on Friday and it is open from 10.00 a.m. to 5.00 p.m.

The main aim of the exhibition is to share knowledge of the various aspects of the gem Industry. On display will be Rough and Polished Gemstones of different Crystal Systems, Traditional and Modem Gem Cutting and Gem Testing Equipment, Model of a Gem Pit, Gem Assaying, Heat Treatment Display and other Educational Materials. More>>

Timber floor tile for international market

Daily Mirror / Friday, February 23, 2007

Malro Timber Floor Tile is an innovative timber tile produced solely in Sri Lanka for an international market using the latest technology in the timber processing market, with the best quality natural timber available. This new invention, made to live with nature is made of naturally grown local and imported timber such as Teak, Mohogani, Halamba, Jak and imported timber such as Burma teak, Kempus, Ebony, Rose wood etc.

The process is highly specialized and uses superior technology and highly skilled craftsmanship together with quality raw materials. The tiles contain Medicinal and Therapeutic values mainly: Tannins compounds, Phenolic compounds, Flavonids, Phyto Sterols, B sito Sterol Cycloeucalenol, Trimethyl Naphtho (1,8 – bc) Pyran 4. 8 – dione etc. More>>

Wide acceptance for the new Companies Act 

Daily News / Friday, February 23, 2007

Greater accountability demanded of Governing Boards; shareholders' rights strengthened :

Hathoon Sheriffdeen

LEGISLATION: A new Companies Act shortly to come into force constitutes a bold reformation of the country's present Companies Act.

The new Companies Act specifies the demanding responsibilities and proportionate accountability imposed on Directors in the governance of their companies.

The reformed Companies act will consider the rights of shareholders as vital. These are some of the findings of the Daily News on the new Act. More>>

Cambodian garment exports jump 17 per cent in 2006

Daily Mirror / Thursday, February 22, 2007

PHNOM PENH, J (AFP) - Cambodia's garment exports jumped 17 percent in 2006, manufacturers said Wednesday, but they warned that continuing labour disputes could scare investors away from the key sector.

Exports last year were worth slightly more than 2.5 billion US dollars, up from 2.2 billion-dollars in 2005, manufacturer representative Van Sou Ieng said during a meeting between the government and private sectors. More>>

ECCSL pre-production skills development programme for SME apparel sector

Daily Mirror / Thursday, February 22, 2007

The European Chamber of Commerce of Sri Lanka (ECCSL) is organizing six one-day workshops on “Pre-production skills development” for the SME apparel sector.

The programme is targeted at CEOs, Managing Directors, Financial Controllers. Finance Managers, Merchandising Managers, Senior Managers and Senior Executives involved in the apparel manufacturing process. More>>

Trade mission to seminar spotlights promotion tools

Daily Mirror / Thursday, February 22, 2007

Trade Fairs and Trade Missions have been identified as effective and efficient trade promotion tools for communicating with existing or new export markets. Participation at Trade Fairs and Trade Missions, results in projecting your image to potential partners in an export/ new market. Both these events are designed to assist members explore the sales opportunities for their products and services in selected overseas markets. More>>

Economic integration in South Asia region encouraged by regional trade agreements

Daily News / Wednesday, 21 February 2007

M. Macky Hashim,
Imm. Past President SAARC Chamber of Commerce and Industry

BUSINESS DYNAMICS: Deshabandu M. Macky Hashim, Imm. Past President - SAARC Chamber of Commerce and Industry delivering the keynote address on Seeking Integration of Business Dynamics and Geographic Advantages at the Second China-South Asia Business Forum held Kunming, Yunnan Province, China said the subject of Seeking Integration of Business Dynamics based on Geographic Advantages is an important matter in the backdrop of the fast economic growth of China and India - attracting global attention for Two reasons; First, catching up with the advanced countries remains possible and Second, the pace and type of change is so significant that it drives transformations in many other countries. More>>

Restored rubber factories to produce finished goods

The Island / Wednesday 21st February, 2007

Plans are underway to resurrect three rubber manufacturing factories situated in Alpitiya and Dodangoda, which were lying idle for over a year on account of heavy losses.Plantation Industries Ministry sources told The Island Financial Review, the three factories had incurred a total loss of Rs.3.19 million in 2005, and as a result were not operating since 2006. More>>

New Companies Act - a salutary move on obsolete law

The Island / Wednesday 21st February, 2007

The new Companies Act, shortly to come into force, constitutes a bold reformation of the country's present Company Law. Significant amongst the changes to be introduced is the articulation of specific and somewhat onerous responsibilities and commensurate accountability provisions being imposed on directors in the governance of their companies. These range from the satisfaction of solvency tests when making distribution to shareholders to aspects pertaining to the preparation of financial records of a company and other such related matters. Many of these provisions have no local statutory precedents. More>>

Cess to be utilized for tea industry development

Daily News /Tuesday, 20 February 2007

The cess levied on tea exports will be fully utilised for the development of the tea industry in future, Plantation Industries Minister D. M. Jayaratne said.

Addressing meetings organised in Gampola to felicitate him as Plantation Industries Minister, Jayaratne said the cess levied on tea exports totalled Rs. 1,200 million annually. This money was being credited to the Treasury and the Treasury in turn released Rs. 1,000 million out of it for development of the tea industry. More>>

Sri Lankan gems and jewellery glitter in Tokyo show

Daily Mirror /Tuesday, February 20, 2007

Chairman, National Gem and Jewellery Authority (NGJA) Hasitha Tillekeratne, said that NGJA organized the “Sri Lanka Pavilion” at the 18th International Jewellery Tokyo (IJT 2007); which is the largest Jewellery event in Japan held from 24th to 27th January 2007, at the Tokyo Big Sight, organized by Reed Exhibitions Japan LTD. where a record number of 1650 exhibitors from 35 Countries unveiled their latest collections highlighting the latest industry trends and directions. More>>

Value added touch for minerals

Daily News / Monday, 19 February 2007

Chamikara Weerasinghe

The Ministry of Environment has decided to depart from the lengthy practice of exporting the country's mineral resources as raw material and instead go for the value added product.

Environment Minister Champika Ranawaka said yesterday that a number of minerals, including phosphate, silicon and iron ore, currently exported as raw material, would be stopped in keeping with the new plan.

He told the Daily News that his Ministry planned to create a background for larger industrial prospects by using the country's mineral resources for value added exports. More>>

Leisure industry placed fourth largest money-spinner

Daily News / Monday, 19 February 2007

Shirajiv Sirimane

Tourism industry was placed as the fourth largest foreign exchange earner to the country despite the industry facing a few problems.

The total earnings from January to September 2006 stood at US $ 349.8 million behind textiles and garment earnings, foreign workers remittance and tea export revenue.

Vice President Tourist Hotels Association of Sri Lanka (THASL) Srilal Miththapala said that this was very commendable inspite of reduced traffic. More>>

Sri Lanka investment forum in China to coincide with President’s visit

Daily News / Friday, 16 February 2007

A. G. Piyadasa

The Sri Lanka Export Development Board in collaboration with the Sri Lanka embassy in Beijing, China will organise participation of local companies in a Sri Lanka investment, trade and tourism promotion event to be held in Beijing, China on March 1.

The exhibition is organised to coincide with the visit of President Mahinda Rajapaksa to the People’s Republic of China and proposed celebrations to mark the 50th anniversary of diplomatic relations of Sri Lanka with China. A trade display will be part of the promotion. More>>

Loans under the Vidatha programme for SMEs

Daily News / Friday, 16 February 2007

Manjari Peiris

Entrepreneurs obtaining technology through the Vidatha Programme will now have the privilege of borrowing loans up to Rs. 100,000 from People’s Bank at the rate of 8% interest.

The process of transferring technology through Vidatha Centres established islandwide is now being successfully continued. Though this process of activity a large number of small scale entrepreneurs have emerged. Lack of financial resources has been identified as a main problem that these entrepreneurs are faced with. More>>

Tea cess levied for industry development – DM Jayaratne

Daily Mirror / Friday, 16 February 2007

Plantations Minister D.M. Jayaratne says that the cess collected from tea would be utilized completely for the development of the tea industry.

The Minister said that at present Rs.1200 million is earned as cess and is credited to the General Treasury which gives Rs.1000 million for development of Tea Industry. He hopes to get the balance Rs.200 million as well.

Minister Jayaratne made these observations when addressing a reception accorded to him by the people of Gampola. More>>  

Sri Lankan gems and jewellery glitter in Tokyo

Daily News / Thursday, 15 February 2007

A.G. Piyadasa

The National Gem and Jewellery Authority organised the "Sri Lanka Pavilion" at the 18th International Jewellery Tokyo (IJT 2007). This is the largest jewellery event in Japan. 

It was held from January 24 to 27, at the Tokyo Big Sight, organised by Reed Exhibitions Japan Ltd. A record number of 1650 exhibitors from 35 countries showcased their latest collections highlighting the latest industry trends and directions. More>>

Information Security on the Agenda for Leading Enterprises in Sri Lanka

Daily News / Thursday, 15 February 2007

Frost & Sullivan hosted conference scheduled to be held in Colombo

One of the key facets for addressing rising business growth and increasing business complexity is the increased reliance on Information Technology (IT) by today's enterprises.

The key to the usage of Information Technology is the flow of information within the corporates and outwardly to their stakeholders. With the growing scope and complexities of businesses, challenges are increasing. More>>

Utilization of the Tea Cess levy open to question

Daily Mirror / Wednesday, February 14, 2007

The Colombo Tea Traders’ Association [CTTA] has long been concerned that the funds collected on tea exports, in the form of Cess, which are meant to be disbursed exclusively for industry purposes, are not being put to their best use, in the context of the needs and the benefit of the industry. Enhancing productivity, promoting Sri Lankan-owned brands, stimulating value-added exports, facilitating food hygiene initiatives and supplementing research and analysis programmes are some of the priority areas identified by the Industry for the investment of these funds. More>>

BOI signs MoU with Pakistan investment promotion agency

Daily Mirror / Wednesday, February 14, 2007

The Board of Investment of Sri Lanka has signed a memorandum of understanding with the Board of Investment of Pakistan.

The MOU will strengthen all sectors related to investment in both countries. The other objective of the Memorandum will be to provide facilitation for investment between the two countries. Furthermore, it will serve to encourage the development of enterprises in both countries. More>>

Exports grow by 12.1 per cent

Daily News / Wednesday, 14 February 2007

EARNINGS: Export earnings grew by 12.1 per cent and reached its second highest monthly value in December 2006 after the highest value of US dollars 734 million recorded in August 2006, the Central Bank said yesterday.

Exports increased to US dollars 703 million in December 2006 compared to US dollars 627 million in December 2005. Industrial exports drove this growth aided by strong performance in textiles and garments. More>>

Tea exports rise 8.1 per cent, overcoming production slump 

Daily News / Wednesday, 14 February 2007 Hiran H. Senewiratne TEA: Sri Lanka's tea exports rose by 8.1 per cent in 2006, overcoming a production slump by traders partly on account of the year end strike by 40,000 workers, its sources said. The biggest problem that the industry encountered at this juncture is the drought following the strike, which hit the tea industry badly. More>>

Import-export seminar 2007

Daily News / Monday, 12 February 2007

SEMINAR: A seminar organised by The Ceylon Chamber of Commerce offers practical information that will help protect a company's interests and maximise opportunities in the global market place.

The Import/Export Seminar 2007 will take place on February 15, from 8.30 a.m. to 5.30 p.m. at "Kings Court", Trans Asia Hotel, Colombo 2. More>>

Minister calls for probe on possibility of adulterated tea

Daily News / Monday, 12 February 2007

INSTRUCTIONS: Minister of Plantation Industries D. M. Jayaratne instructed the tea researchers and relevant authorities to investigate whether the tea sold in the local market is adulterated.

He said that he gets the impression that, some people in tea business are engaged in mixing tea sweepings en masse and sending them to the local market in attractive packets.

Minister said so at the occasion of assuming duties as the Minister of State Plantations at his Ministry. More>>

Apparel industry faces many challenges – JAAF chief

Daily Mirror / Monday, February 12, 2007

By Yohan Perera
Joint Apparel Accessory Manufacturers Association (JAAF) Chairman Ajith Dias said the apparel industry is to face several challenges this year in spite of potential for higher growth.

Mr. Dias who was the Chief guest at the Fabric and Apparel Accessory Manufacturers Association (FAAMA) Annual General Meeting recently said the apparel exports in the year 2006 has grown nearly by 3% while it might end up at 5% to 6% this year.

He however explained that there was a decline in the US market by half a percentage while there is increased competition as a result of the abolition of the quota system. More>>

Pak-Lanka trade up by 15% since signing of FTA: Aziz

Daily Mirror /Friday, February 09, 2007

ISLAMABAD: Prime Minister Shaukat Aziz said Pakistan and Sri Lanka enjoy excellent relations, hold similar views on a number of regional and international issues and have stood by each other in critical times.

Talking to Dr. Sarath Amunugama Minister for Enterprise Development and Investment Promotion of Sri Lanka who called on him here Wednesday the PM emphasised the need to further strengthen cooperation between the two countries in diplomatic, political social and economic fields as both Pakistan and Sri Lanka share a common vision which is progress and prosperity of their people. More>>

Govt passes laws to cut duty on Pakistan imports

Daily Mirror /Friday, February 09, 2007

The government yesterday introduced new regulations in Parliament to several finance laws to facilitate the development of ‘national economy’.

The new regulations were incorporated to the Customs Ordinance, Appropriation Act and the Sri Lanka Export Development Act, and they were unanimously approved in the House.

According new laws, the import duty on Basmathi rice, potatoes produced in Pakistan, paints other material used by artistes, equipment for the cinema industry, and the Ceylon Electricity Board, animal foetus and sperm would be slashed. More>>

Sri Lanka exports rice to Maldives

Daily Mirror /Friday, February 09, 2007

Sri Lanka has started to export rice to Maldives, according to an agreement reached between the two countries.

The first 20-feet container was shipped on February 7.

Agricultural Ministry Secretary T.M. Abeywickrama told the Daily Mirror FT yesterday Maldives agreed to purchase eight percent of their rice requirement from Sri Lanka, and accordingly an entrepreneur had agreed to venture into the new export business.Mr. Abeywickrama said they would export rice of ‘Keeri Samba’ variety to Maldives every two weeks under this agreement. More>>

World conference of apparel institutes in Colombo

Daily News /Friday, 9 February 2007

(Lankapuwath) - Colombo will see over 200 participants all veterans in the textile and apparel World in Colombo for the 85th Textile Institute World conference, in March this year. The conference will attract professionals, academics, industrialists and researchers from the textile industry.

Chairman of the organising committee Prof. Lakdas Fernando of the conference stated that the response to the conference has been overwhelming from across the globe. Nearly 200 technical papers from over 25 countries have been received for presentation at the conference so far and the flow continues”, he stated. More>>

Dipped Products post strong growth in first 9 months of FY 06/07

Daily Mirror /Friday, February 09, 2007

Profit after tax up 125%; Earnings per Share grows 2.4 times

The Dipped Products Group (DPL) has sustained strong profit and turnover growth in the nine months ending December 31, 2006.

One of Sri Lanka's most successful business houses Akbar Brothers has risen with Sri Lanka and matched the record breaking performance in the country's tea exports activity.

Sri Lanka has regained her position as the largest exporter of tea in 2006 with a record export totaling 327 million kilograms as against 308 million kilograms in 2005. Sri Lanka has also generated a record a foreign exchange earnings of Rs.91 billion in 2006, which is an increase of 13% over the 2005 earnings. More>>

85th Textile Institute World Conference in Colombo
Daily Mirror /Wednesday, February 07, 2007

Over two hundred participants from the textile and apparel world will be in Colombo this March to take part in the 85th World Textile Institute Conference.

The meeting is expected to be the flagship event for 2007 in the Sri Lankan MICE calendar and will draw a prestigious group of professionals, academics, industrialists, and researchers from the textile industry. More>>

Government commences pilot project:

The Government has commenced the pilot project of exporting rice to Maldives with the assistance of the private sector.

Maldives will purchase 240 Metric Tonnes of Samba rice annually from Sri Lanka. The first stock of the samba rice was exported yesterday under the patronage of Agricultural Development and Agrarian Services Development Minister Maithripala Sirisena, Irrigation and Water Management Minister Chamal Rajapaksa and Agrarian Service Deputy Minister Siripala Gamlath. More>>

Exports from Sri Lanka to Italy have increased by 61 percent during first nine months of last year. According to ISTATS Italy, total imports from Sri Lanka to Italy recorded nearly Euro 160 million in January to September in 2006. More>>

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