Q1 exports up by 16%, March alone jumps by 27%

Published : 12:12 am  May 12, 2014  |  Category: Business  |  Leave a Comment  |  397 views  |  

‘Encouraging! Working towards 2020 goal’: Rishad 2014 Jan-March exports at $ 2.8 b March only exports at $ 1.06 b, up by 27% Q1 Apparel exports up by 20% to $ 1257 m Fisheries, coconuts show surprising trends Sri Lanka’s first quarter exports registered a positive growth of 16%, while monthly exports for March jumped by as much as 27%. “Good news! This is encouraging for our efforts towards $ 20 billion export goal by 2020 as envisioned by HE the President Mahinda Rajapaksa,” said an upbeat Rishad Bathiudeen (Minister of Industry and Commerce) on 09 May in Colombo. Minister Bathiudeen was acknowledging the provisional exports figures by his top officials on 09 May. Accordingly,... 

Ideal rolls out Chery’s new range

Published : 12:11 am  May 12, 2014  |  Category: Business  |  Leave a Comment  |  412 views  |  

China’s largest car manufacturer Chery Automobile Co. Ltd. has appointed Ideal Chery Automobiles Ltd. as its Franchise Holder and Distribution Partner in Sri Lanka. Chery in known in Sri Lanka for the QQ Compact (small) car. Having sold over one million QQs worldwide the model name QQ is synonymous with Chery. However, Chery’s product line goes far beyond the QQ with more than 30 models in worldwide production including electric cars. The fundamentals of the Chery brand such as excellent research, development and design capability, the ability to manufacture its own engines and transmissions, superior built quality, warranty support and spare parts availability along with Chery’s achievements... 

Chinese assistance sought for SME sector development

Published : 12:10 am  May 12, 2014  |  Category: Business  |  Leave a Comment  |  353 views  |  

President Emeritus Aloy Jayawardene and Senior Vice-President Luvi  Siemon of the Sri Lanka  Chamber of Small and Medium Industries met Wu Jianghao, Ambassador Extraordinary and Plenipotentiary of  the People’s Republic of China at the Embassy recently, where the 50-year history of the chamber was presented to Jianghao and discussed the possibilities of obtaining Chinese assistance for the development the SME sector in the provinces of Sri Lanka  as the chamber has joined with Union Bank of Colombo to assist its SME clients on their development of industries.  Read More →

Vietnam team at ‘Intrad Expo’ & ‘Arogya’ twin exhibition

Published : 12:10 am  May 12, 2014  |  Category: Business  |  Leave a Comment  |  259 views  |  

A high powered 22 member delegation from Vietnam will be visiting the Intrad Expo & Arogya exhibition organised by the National Chamber of Commerce to be held from Friday 16 May to 18 May 2014 at BMICH. The exhibition partner country Vietnam will be sending this delegation comprising of over 10 Vietnamese companies and consisting of key Government officials, headed by Vice Chairman of Thai Nguyen People’s Committee of Thai Nguyen Province – sectors covering areas of Industry, Commerce, Investment and external relations, to showcase their products and services at this three day twin exhibition at the BMICH. Economic relations between Sri Lanka and Vietnam are at a high level. The National... 

Alumex shines in FY 14 with growth in top line and profits

Published : 12:09 am  May 12, 2014  |  Category: Business  |  Leave a Comment  |  292 views  |  

The Alumex Group performed exceptionally well in the financial year ended 31 March 2014, with revenue growing 13% to reach Rs. 2.8 billion. Profit before tax of the group was Rs. 464 million, recording an increase of 23%. Profit after tax was reported as Rs. 379 million compared with Rs. 307 million in the previous year. The year 2013 saw Sri Lanka’s GDP grow by 7.3%, with the construction sector being a major contributor. The construction sector grew at 14.4%, double the pace of aggregate GDP growth, driven by a continuing trend of investment in infrastructure, hotels and the residential sector. Macroeconomic conditions were also conducive as interest rates declined, reducing cost of capital,... 

Private sector has to give leadership to govt sometimes

Published : 12:00 am  May 12, 2014  |  Category: Business  |  Leave a Comment  |  234 views  |  

Sri Lankan’s premier business leadership forum ‘The Management Club’ (TMC), presented a hip topic for discussion at the quarterly evening themed ‘Nation branding to combat the UN resolution against Sri Lanka’. The guest speaker was the top thought leader and business personality Rohantha Athukorala. “There are times in an economy where the private sector has to give leadership to the key issues that a country is faced with even though typically it has happened the other way around. But sadly, Sri Lanka’s private sector lacks this skill in the last four years post-war that has resulted in the current issue that the country is challenged with,” said Athukorala to the audience ... 

Airtel partners with Green Links Lanka for better management of e-waste

Published : 12:00 am  May 10, 2014  |  Category: Business  |  Leave a Comment  |  476 views  |  

Bharti Airtel Lanka, a subsidiary of Bharti Airtel, a leading global telecommunications company with operations in 20 countries across Asia and Africa, today announced a strategic partnership with Green Links Lanka to embark on a project of e-waste management. Airtel Lanka, as a brand that has great focus on sustainability of the environment, and as a licensed mobile telecom operator in Sri Lanka, has identified its responsibility towards reducing the impact made on the environment as much as possible. Consequently, Airtel Lanka signed a MoU to secure e-waste management services provided by Green Links Lanka. The project, which is woven around a mobile phone recycling program, will be launched... 

Bank of Ceylon commences 75th anniversary celebrations

Published : 12:00 am  May 10, 2014  |  Category: Business  |  Leave a Comment  |  325 views  |  

Laying white sand at the Anuradhapura Jaya Shri Maha Bodhi maluwa was the inaugural event The ceremony of spreading white sand at Anuradhapura Jaya Sri Maha Bodhi Upper maluwa and Lower maluwa was organised and sponsored by the Bank of Ceylon as the inaugural event marking the commencement of the 75th Anniversary celebrations scheduled for the later part of this year. This act of devotion took place recently with the patronage of Bank of Ceylon General Manager and the President of the Bank’s Buddhist association D.M. Gunesekara. The Senior Deputy General Manager (Sales and Channel Management) H.M. Mudiyanse, Assistant General Manager (North Central Province) H.M.P.B. Herath, Manager Anuradhapura... 

Lanka closely monitoring EU’s trade policy: Rishad

Published : 12:00 am  May 10, 2014  |  Category: Business  |  Leave a Comment  |  412 views  |  

As trade between Sri Lanka and its top global partner EU edged to a $ 5 billion mark, Sri Lanka for the first time revealed its levels of attention to the EU trade dynamics on 7 May. And Europe has commended Sri Lanka’s exports value addition efforts as ‘remarkable’. “Sri Lanka closely monitors the developments in the EU trade policy as it could have significant impact on Sri Lanka’s exports, both directly and indirectly. For example, the recent cross cumulation facility provided for SAARC and ASEAN Regional Groups, would help Sri Lanka to source inputs of ASEAN countries, and be eligible for GSP concessions,” said Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen. Minister... 

Abans now geared to provide total facility management services

Published : 12:00 am  May 10, 2014  |  Category: Business  |  Leave a Comment  |  248 views  |  

Abans Environmental Services (AES), in a statement said it is a well-established and leading facilities and management services company, providing a wide range of services to offices, condominium apartments, business establishments, industries and Government institutions. Now customers don’t have to waste time searching for reputed people to handle the various services required at offices or organisations. AES provides integrated facility management service packages which include building maintenance, housekeeping, janitorial services, property management, security management, solid waste management, pest control and hygiene control. AES also provides tailor-made package to suit requirements... 

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