CMI and KPMG discuss how to take advantage of FTAs with India and China

Daily FT - 24/12/2014

In an effort to go beyond the obvious and to better understand the dynamics, opportunities and challenges that stem from Sri Lanka’s Free Trade Agreements (FTA) with India and prospects with China, the Chartered Management Institute (CMI) – UK’s Sri Lanka Branch, held a knowledge sharing event recently which they organised in association with their exclusive knowledge partner, KPMG in Sri Lanka. The event captioned ‘Free Trade Agreements: Trends, Prospects and Opportunities with India and China’ brought together business leaders in an interactive discussion on how to make the most of the trade agreements with India and China and how they can contribute to the development of Sri Lanka’s economy.

Sri Lanka tops the Brown Fiber Export Market

News.lk - 24/12/2014

Coconut is one of the major plantation crops in Sri Lanka which accounts for approximately 12% of all agricultural produce in Sri Lanka. Total land area under cultivation is 395,000 hectares and about 2,500 million nuts are produced per year.

Sri Lanka is very popular in world market for Desiccated Coconut (DC) and Brown fiber. Distinguish white colour and characteristic taste of the DC ranked Sri Lanka at No. 04 position of world export of all kernel products. Sri Lanka is in No. 01 position of world exports of Brown fiber. The technique called drum system used to extract fiber resulting long pure fiber which are more suitable for brush industry.

Sri Lanka's Desiccated Coconut exports records a 148% increase

news.lk - 22/12/2014

Sri Lanka has recorded a remarkable 148% increase during the first eight months of this year in Desiccated Coconut exports compared to the same period in 2013.
Sri Lanka has exported 26115 M/T in 2014 against 10530 M/T for the same period in 2013 for the period referred to above.

Sri Lanka's D/C exports are likely to have a bright future from a short and medium term market perspective due to Philippines D/C production being affected by Cyclones.

SRI LANKA RANKS 89 IN FORBES’ BEST COUNTRIES FOR BUSINESS

The Sri Lanka government said that the country is placed 89th out of 146 nations in the Forbes’ Best Countries for Business 2014 ranking, while India was 93rd.

The Sri Lanka government said in a statement that Forbes noted, “however, low tax revenues are a major concern. A large trade deficit remains a concern, but strong remittances from Sri Lankan workers abroad help offset the trade deficit.”

The best country for business this year is Denmark, which ranked No. 1 three straight years between 2008 and 2010. The top10 includes also Hong Kong, New Zealand, Ireland, Sweden, Canada, Norway, Singapore and Switzerland.

SL betters BRIC nations

nation.lk - 21/12/2014

Forbes Best Countries for Business

Sri Lanka has been rated at the 89th position in the Forbes’ list of the best countries for business this year out of 146 nations ranking better than even larger economies like Russia (91), India (93), Brazil (94) and China (97). A breakdown of the ratings showed that Red Tape has declined to 85th position whilst Trade Freedom has been rated at 98, Monetary Freedom 124, Property Rights 72, Innovation 45, Technology 92, Investor Protection 50, Corruption 78, Personal Freedom 99, Tax Burden 124 and Market Performance improved to the 7th position.

“Sri Lanka continues to experience strong economic growth following the end of the 26-year conflict with the Liberation Tigers of Tamil Eelam.

'The new year, a challenge for business’

Sunday Observer - 21/12/2014
By Lalin Fernandopulle

With the year coming to a close and a few more days for the new year, the business community expressed mixed sentiments about the past year and the year ahead. Some corporate and Chamber heads were pleased with the growth in business given the political stability and business environment.

Chevron Lubricant Lanka PLC, Managing Director and CEO Kishu Gomes said that 2014 was a fairly good year though there was no phenomenal growth in the lubricant business and added that there was economic predictability during the year than in 2013. He said that he was optimistic about 2015 and added that more would depend on the political and macro economic stability in the country.

The global economic scenario has a mixed outlook with certain countries emerging strong from the economic crisis and showing enormous potential for trade and investment while the Middle East and Russia are grappling to survive with the slump in oil prices and sanctions.

International Tea Day Observed In Mumbai

On the occasion of International Tea Day, Dlecta Café – India’s leading beverage vending solutions company observed the day by raising awareness on tea followed by a Tea Tasting session to celebrate the legacy of the iconic beverage. Prahlad Kakkar, renowned Ad man and tea aficionado attended the event and shared stories on his love for the beverage. The day was also marked by the unveiling of the first ever automatic fresh tea brewing machine. The machine is unique to the world of tea and is being patented for technology.

International Tea Day has been observed since 2005 in many tea producing countries most of which are Asian. The first International Tea Day was celebrated in New Delhi on the 15th December 2005 and has ever since been observed by several countries each year.