Treasury Secretary Dr P.B. Jayasundara said the clothing industry has consolidated with the economy. Sri Lanka's total exports amounts to US$ 7.2bn out of which clothing accounts for US$ 3.3 bn which is about 46 percent of the total exports, Dr Jayasundera told a seminar.
The seminar on "Insight to efficiency optimization to elevate the Sri Lankan garment industry to meet the global competition was held at the Galadari hotel recently. This was organized by the Textile Institute, Sri Lanka section in collaboration with A&E Lanka Ltd.
He further said that Sri Lanka imports $ 10.5 bn per year thus having a net importer value of US$ 3.3 bn. Dr Jayasundara inquired from the industry whether this could be reversed so that Sri Lanka could have surplus exports.
He said the government will address the imports whilst the industry to increase the export value. To make this a reality, the entire industrial sector will have to increase at least US $ 3.3 bn in exports and he requested the clothing industry to contribute about US $ 1.6 bn in the next 3-5 years.
This is the challenge he posed at the industry. In order to materialize this concept, the clothing industry will have to find new markets in addition to the traditional markets. Among the new markets, it would be necessary to identify global niche markets, was his opinion.
Textile Institute, Sri Lanka Section Chairman Dr Rohana Kuruppu and Brandix College of Clothing Technology made a presentation on global trends in the clothing industry and its impact on Sri Lanka's industry. He argued that the global economy in the context of clothing business is not with negative growth but with opportunities for those who can make use of it. He emphasized that markets in US and EU are sluggish but countries like Vietnam and Bangladesh have made significant progress in 2008.
He explained that SAARC and ASEAN countries have become leading suppliers to US and EU clothing markets. Dr Kuruppu pointed out that price of imports to US stood at average US$ 1.85 per square meter equivalent (sme) but SAARC countries have maintained at US$ 1.69 per sme during 2008. Surprisingly, the average price of imports from ASEAN countries was at US$ 2.68 per sme during the same period, lamented Dr Kuruppu.
This means, the price within the SAARC countries is very competitive and there may be good reasons for ASEAN countries to fetch 37 percent more than South Asian countries to US market.
At the same time, he presented statistics to confirm that prices rose in the EU market too. The average price of imports from Vietnam rose by a significant 49 percent during 2008.
These data suggests that US and EU markets have potential growth and left to individual countries to plan their strategy to increase their market share.
Open University Senior Lecturer Dr Anbahan Ariyadural suggested that qualifications and training have not correlated with efficiency and therefore, it is necessary to study variables that cause ineffectiveness in training.
source - www.dailynews.lk
Thursday, January 21, 2010
SRI LANKA TOURISM - ANOTHER FEED BACK - TRAVEL AGENT DAILY CANDY
The civil war is mostly over, and Sri Lanka is now stable and safe — and as beautiful, tropical, and friendly as ever. The conflict was primarily in the north, and our itinerary will have you roaming the south for adventure (elephant safaris), history (colonial fort towns, old Buddhist temples), rain forests (and mountains and tea plantations), and gorgeous beaches. It’s pretty much the best place we’ve ever been.
GPS
The island is far from everywhere, so you’ll want to stay about ten days. Jet Airways flies from the U.S. to India and connects to Colombo. (And why don’t all airlines serve curry?) For the best weather and the calmest seas, go between December and April. August and September fall between the monsoon seasons, but our October rainstorms lasted only a few minutes (and made for great photos). Small roads means it takes a while to get around, but the passing scenery is entertaining and captivating: water buffalo in rice paddies, men biking in plaid sarongs, palm trees as small as you and as tall as buildings. When you get thirsty, stop at a grubby lean-to along the road and get the guy to machete open a king coconut. Everyone says it’s the best hangover cure. (Check out our Sri Lanka photo gallery.)
Kandy Whirls
To decompress from the flights, spend a night near the airport at The Wallawwa. Otherwise, head inland to the Kandy District and The KandyHouse, the eight-room hotel that was once the 1800s home of a ruling family, to spend a few days visiting the too-cute Pinnawela Elephant Orphanage, the bird-rich Peradeniya Botanic Gardens, and the brilliantly named Temple of the Sacred Tooth Relic.
Tea for Two
Next stop, the mountains of tea country. Until 2004, Sri Lanka was the world’s biggest tea exporter (cuppa Ceylon, indeed), and touring a plantation is really interesting and beautiful. Rest your head at Dilmah’s Tea Trails, a hotel of four colonial bungalows that used to house estate managers. Castlereagh has the best views; Tientsin has the most beautiful gardens.
You’re Wella-come
Now you can go to the beach. The swank Amanwella compound consists of bungalows scattered across a coconut grove outside Tangalle. The service is Amanawesome, but prices are more affordable than Aman’s usual rates (a rare civil war perk). Force yourself away from the blissful beach to visit Udawalawe National Park. You’ll see monkeys and peacocks, but elephants are the main event. Please tip your guides well: They’re all volunteers. Also great is the ancient Mulgirigala Buddhist temple complex. Brave the ascent up the mountain and you’ll be rewarded with insane views and a blessing from one of the monks in residence on the way down. Farther west around Weligama Bay, Mirissa Hills is a gorgeous art-filled home in the hills on a working cinnamon estate.
The Tap of the World
Sri Lanka is incredibly chic, very India meets Vietnam. (You’ll hear architect Geoffrey Bawa’s name a lot.) But the most breathtaking place to stay is Taprobane, a five-bedroom house on a tiny private island just off the coast. There’s no ferry: You wade through the Indian Ocean, carrying your clothes above your head (yes, really). The mythology speaks for itself: Founded by a descendant of a Napoleonic general, it used to be the residence of Paul Bowles, as well as fashion icon Isabella Blow. Now it’s part of the chic hotel chainlet Taprobane Collection, which also includes The Sun House and The Dutch House in Galle. If you don’t stay at the hotels, at least go for dinner and be on the lookout for Henri Tatham, the fabulous manager.
Good Galle
Walled fort town Galle was colonized by Arab traders, then the Portuguese, then the Dutch — and all left their mark. Amangalla may be the ultimate colonial fantasy, you’ll note, as you sip arrack sours on a rattan lounge chair at sunset, in recovery from the Ayurvedic consult and baths treatment at the exquisite spa. If the delicious hoppers at breakfast get you in the culinary mood, take a cooking lesson (click here for an easy curry recipe). And spend time with Olivia Richli, the kind and gorgeous general manager (who helped us plan this amazing itinerary), and ask for stories about Nesta Brohier, the grand dame who used to live in the hotel (with her much younger lover), and about taking in hundreds of locals left homeless by the tsunami. Richli can also help arrange a tour of Handunugoda Tea Estate, where you can watch glove-clad women clip white tea leaf by leaf with small scissors and learn how it is harvested, dried, and aged. Handunugoda brews make great souvenirs, as do bottles of arrack, but for something longer lasting, pick up handwoven napkins and coconut shell serving spoons at Barefoot. Galle Fort Hotel is a more budget option, but the perks at Amangalla are worth the splurge.
Really, there's only one down side to Sri lanka : eventually you have to leave.
This article was published on daily candy.com under the heading of Sri you around - Daily candy goes to Sri lanka
source - http://www.dailycandy.com/
GPSThe island is far from everywhere, so you’ll want to stay about ten days. Jet Airways flies from the U.S. to India and connects to Colombo. (And why don’t all airlines serve curry?) For the best weather and the calmest seas, go between December and April. August and September fall between the monsoon seasons, but our October rainstorms lasted only a few minutes (and made for great photos). Small roads means it takes a while to get around, but the passing scenery is entertaining and captivating: water buffalo in rice paddies, men biking in plaid sarongs, palm trees as small as you and as tall as buildings. When you get thirsty, stop at a grubby lean-to along the road and get the guy to machete open a king coconut. Everyone says it’s the best hangover cure. (Check out our Sri Lanka photo gallery.)
Kandy WhirlsTo decompress from the flights, spend a night near the airport at The Wallawwa. Otherwise, head inland to the Kandy District and The KandyHouse, the eight-room hotel that was once the 1800s home of a ruling family, to spend a few days visiting the too-cute Pinnawela Elephant Orphanage, the bird-rich Peradeniya Botanic Gardens, and the brilliantly named Temple of the Sacred Tooth Relic.
Tea for TwoNext stop, the mountains of tea country. Until 2004, Sri Lanka was the world’s biggest tea exporter (cuppa Ceylon, indeed), and touring a plantation is really interesting and beautiful. Rest your head at Dilmah’s Tea Trails, a hotel of four colonial bungalows that used to house estate managers. Castlereagh has the best views; Tientsin has the most beautiful gardens.
You’re Wella-come Now you can go to the beach. The swank Amanwella compound consists of bungalows scattered across a coconut grove outside Tangalle. The service is Amanawesome, but prices are more affordable than Aman’s usual rates (a rare civil war perk). Force yourself away from the blissful beach to visit Udawalawe National Park. You’ll see monkeys and peacocks, but elephants are the main event. Please tip your guides well: They’re all volunteers. Also great is the ancient Mulgirigala Buddhist temple complex. Brave the ascent up the mountain and you’ll be rewarded with insane views and a blessing from one of the monks in residence on the way down. Farther west around Weligama Bay, Mirissa Hills is a gorgeous art-filled home in the hills on a working cinnamon estate.
The Tap of the WorldSri Lanka is incredibly chic, very India meets Vietnam. (You’ll hear architect Geoffrey Bawa’s name a lot.) But the most breathtaking place to stay is Taprobane, a five-bedroom house on a tiny private island just off the coast. There’s no ferry: You wade through the Indian Ocean, carrying your clothes above your head (yes, really). The mythology speaks for itself: Founded by a descendant of a Napoleonic general, it used to be the residence of Paul Bowles, as well as fashion icon Isabella Blow. Now it’s part of the chic hotel chainlet Taprobane Collection, which also includes The Sun House and The Dutch House in Galle. If you don’t stay at the hotels, at least go for dinner and be on the lookout for Henri Tatham, the fabulous manager.
Good GalleWalled fort town Galle was colonized by Arab traders, then the Portuguese, then the Dutch — and all left their mark. Amangalla may be the ultimate colonial fantasy, you’ll note, as you sip arrack sours on a rattan lounge chair at sunset, in recovery from the Ayurvedic consult and baths treatment at the exquisite spa. If the delicious hoppers at breakfast get you in the culinary mood, take a cooking lesson (click here for an easy curry recipe). And spend time with Olivia Richli, the kind and gorgeous general manager (who helped us plan this amazing itinerary), and ask for stories about Nesta Brohier, the grand dame who used to live in the hotel (with her much younger lover), and about taking in hundreds of locals left homeless by the tsunami. Richli can also help arrange a tour of Handunugoda Tea Estate, where you can watch glove-clad women clip white tea leaf by leaf with small scissors and learn how it is harvested, dried, and aged. Handunugoda brews make great souvenirs, as do bottles of arrack, but for something longer lasting, pick up handwoven napkins and coconut shell serving spoons at Barefoot. Galle Fort Hotel is a more budget option, but the perks at Amangalla are worth the splurge.
Really, there's only one down side to Sri lanka : eventually you have to leave.
This article was published on daily candy.com under the heading of Sri you around - Daily candy goes to Sri lanka
source - http://www.dailycandy.com/
Wednesday, January 20, 2010
CSE RUMORS/CSE RUMORS/CSE RUMORS/CSE RUMORS/CSE RUMORS
COLOMBO STOCK EXCHANGE
RUMORS
SRILANKA STOCK PICKS exclusive: Through this we have decided to convey the CSE Rumors for all of our visitors,which have many times found to be unknown to small investors or when they become aware, prices of particular shares may have had increased substantially. Hence our simple effort is just to give you / convey these rumors where most of top investors are well aware of. However please note that there is a high risk involved in share trading. We do not take responsibility for any lose or damage arising out of stated information in this post. You have to take your own decisions. (Do your own research, Do not follow others, Stick to fundamentals, Buy shares when other are selling & sell when others are buying.)
RUMORS
SRILANKA STOCK PICKS exclusive: Through this we have decided to convey the CSE Rumors for all of our visitors,which have many times found to be unknown to small investors or when they become aware, prices of particular shares may have had increased substantially. Hence our simple effort is just to give you / convey these rumors where most of top investors are well aware of. However please note that there is a high risk involved in share trading. We do not take responsibility for any lose or damage arising out of stated information in this post. You have to take your own decisions. (Do your own research, Do not follow others, Stick to fundamentals, Buy shares when other are selling & sell when others are buying.)
SRI LANKA - AGRICULTURAL EXPORTS UP IN DECEMBER
Jan 20, 2009 (LBO) - Sri Lanka's exports fell 5.0 percent in December from a year earlier, with industrial exports falling 12.2 percent, though agricultural exports were up 23.7 percent, the Central Bank said.
In November 2008, industrial exports rose 11.6 percent from a year earlier but agricultural exports had already started to collapse with a global economic slump.
In November 2009, tea exports were up 23.7 percent to 155.8 million US dollars. Apparel exports fell 8.1 percent to 450 million dollars.
December imports were down 11.6 percent to 864.2 million US dollars with consumer goods up 1.9 percent to 178.7 million US dollars.
Investment goods imports was down 9.6 percent to 180.7 million US dollars with transport equipment up 12.6 percent to 28.6 million US dollars, but building materials were down 37 percent.
Intermediate goods were down 15.8 percent to 497.8 with textiles and clothing down 3.1 percent to 139.3 million US dollars and petroleum flat at 150 million US dollars.
The trade deficit for December was down 24.4 percent to 251.2 million US dollars.
During the 11 months to November exports were down 14.7 percent to 6,361.1 m
source - www.lbo.lk
In November 2008, industrial exports rose 11.6 percent from a year earlier but agricultural exports had already started to collapse with a global economic slump.
In November 2009, tea exports were up 23.7 percent to 155.8 million US dollars. Apparel exports fell 8.1 percent to 450 million dollars.
December imports were down 11.6 percent to 864.2 million US dollars with consumer goods up 1.9 percent to 178.7 million US dollars.
Investment goods imports was down 9.6 percent to 180.7 million US dollars with transport equipment up 12.6 percent to 28.6 million US dollars, but building materials were down 37 percent.
Intermediate goods were down 15.8 percent to 497.8 with textiles and clothing down 3.1 percent to 139.3 million US dollars and petroleum flat at 150 million US dollars.
The trade deficit for December was down 24.4 percent to 251.2 million US dollars.
During the 11 months to November exports were down 14.7 percent to 6,361.1 m
source - www.lbo.lk
SRI LANKA STOCK MARKET - REPORTED GAINS TO ADY
TOP GAINERS FOR THE DAY TOP LOSERS FOR THE DAY
CROSSINGS FOR THE DAY
SRI LANKA FOREIGN RESERVES UP
Jan 20, 2010 (LBO) - Sri Lanka's foreign reserves reached 5,228 million US dollars by end November 2009, which was equal to 6.4 months of imports, the Central Bank said.
With the balances of the Asian Clearing Union, a regional settlement arrangement involving countries which do not have fully convertible currencies, reserves were at 5,308 million US dollars.
The Central Bank said foreign investors had pumped in 262 million US dollars to government Treasury bills and 1,068 million US dollars to Treasury bonds.
Foreign remittances from expatriate workers were up 14.7 percent to 3,035 million US dollars in the nine months to September.
Sri Lanka has a pegged exchange rate regime.
As a result foreign remittances and borrowings, which increase the spending power of the people are the key drivers of Sri Lanka's trade deficit, unless the Central Bank sterilizes the resulting rupee liquidity to lock up reserves.
In 2009 the trade deficit was 2,468.5 million US dollars and remittances were 567 million US dollars higher.
With the balances of the Asian Clearing Union, a regional settlement arrangement involving countries which do not have fully convertible currencies, reserves were at 5,308 million US dollars.
The Central Bank said foreign investors had pumped in 262 million US dollars to government Treasury bills and 1,068 million US dollars to Treasury bonds.
Foreign remittances from expatriate workers were up 14.7 percent to 3,035 million US dollars in the nine months to September.
Sri Lanka has a pegged exchange rate regime.
As a result foreign remittances and borrowings, which increase the spending power of the people are the key drivers of Sri Lanka's trade deficit, unless the Central Bank sterilizes the resulting rupee liquidity to lock up reserves.
In 2009 the trade deficit was 2,468.5 million US dollars and remittances were 567 million US dollars higher.
SRI LANKA - LEOPARD CAPITAL FUND TO START BUSINESS ON EARLY APRIL 2010
Jan 20, 2010 (LBO) - Leopard Capital is seeking 130 million US dollars for two funds which will invest in unlisted and listed firms in Sri Lanka from April 01, a media report said.
The firm is seeking 100 million US dollars for the Leopard Sri Lanka Fund, a private equity fund that will buy into unlisted firms and another 30 million US dollars for a fund that will target "under researched" smaller firms, Bloomberg newswires said.
Investment manager Marc Faber has agreed to head Leopard's advisory firm, the report said.
The 10-year fund will open on April 01, the report said.
A 30-year separatist conflict ended in May last year following the defeat of Tamil Tiger separatists.
Sri Lanka is heading for presidential polls on January 26. Leopard closed its Cambodia fund on December 31, after raising 34.1 million US dollars.
The Cambodia fund had made five investment commitments amounting to 40 percent of its capital in firms involved in beer and mobile telecommunications.
source - www.lbo.lk
The firm is seeking 100 million US dollars for the Leopard Sri Lanka Fund, a private equity fund that will buy into unlisted firms and another 30 million US dollars for a fund that will target "under researched" smaller firms, Bloomberg newswires said.
Investment manager Marc Faber has agreed to head Leopard's advisory firm, the report said.
The 10-year fund will open on April 01, the report said.
A 30-year separatist conflict ended in May last year following the defeat of Tamil Tiger separatists.
Sri Lanka is heading for presidential polls on January 26. Leopard closed its Cambodia fund on December 31, after raising 34.1 million US dollars.
The Cambodia fund had made five investment commitments amounting to 40 percent of its capital in firms involved in beer and mobile telecommunications.
source - www.lbo.lk
LOLC MICRO CREDIT SCHEME GETS A FOREIGN FUNDING BOOST
LOLC Micro Credit Ltd. (LOMC) the Microfinancing arm of the LOLC Group recently received foreign funding totaling US$ 14mn to expand its activities in Sri Lanka.
Of this, Symbiotics SA Information, Consulting Services Switzerland arranged US$ 10Mn while Triodos SICAV II-Triodos Microfinance Fund, Triodos Fair Share Fund and Hivos-Triodos Fund, funds under management of Triodos Investment Management, have granted a syndicated Euro 3 mn loan.
Since 2003 the LOLC Group has been carrying out microfinancing activities and LOMC was established in 2009 to accelerate & expand the business. LOMC is a subsidiary of LOLC PLC with FMO (The Netherlands Development Finance Company) owning a 20% stake of LOMC as its shareholder.
Operating under the brand name LOLC Isuru Diriya, LOMC already has a far reaching network of branches.
The company is among the largest microcredit providers in Sri Lanka and works in agriculture centric districts, providing individual as well as group loans for micro entrepreneurs.
LOMC is currently the largest agriculture implements financier in the country and the only microfinance provider with strategic partnership with SL Post to deliver financial services through post offices.
source - www.dailynews.lk
Of this, Symbiotics SA Information, Consulting Services Switzerland arranged US$ 10Mn while Triodos SICAV II-Triodos Microfinance Fund, Triodos Fair Share Fund and Hivos-Triodos Fund, funds under management of Triodos Investment Management, have granted a syndicated Euro 3 mn loan.
Since 2003 the LOLC Group has been carrying out microfinancing activities and LOMC was established in 2009 to accelerate & expand the business. LOMC is a subsidiary of LOLC PLC with FMO (The Netherlands Development Finance Company) owning a 20% stake of LOMC as its shareholder.
Operating under the brand name LOLC Isuru Diriya, LOMC already has a far reaching network of branches.
The company is among the largest microcredit providers in Sri Lanka and works in agriculture centric districts, providing individual as well as group loans for micro entrepreneurs.
LOMC is currently the largest agriculture implements financier in the country and the only microfinance provider with strategic partnership with SL Post to deliver financial services through post offices.
source - www.dailynews.lk
CEYLON TEA ESTATE OF THE YEAR - BY JAPAN TEA ASSOCIATION
By Steve A. Morrell
The Japan Tea Association will host the Ceylon Estate Tea of the Year competition this year in Tokyo.
This year will be its third exposure. Previously the US held the competition. That was about three years ago. Both previous contests were in the US.
There is this year addition of a new dimension to what will happen in Japan.
Innovative Tea will also be exhibited and subject to competition.
Innovation will include hand rolled tea, and varied product processes that could also have tea processed into balls; or sun dried long leaf products.
All competitors have been encouraged to be as innovative as possible and stretch imagination to its extreme to ensure exhibits reach high standards to fall in line with guide lines demanded.
We had this information from Tea Brokering sources who also said the Tea Board will also have stall organization facilities and ensure Ceylon Tea standards are maintained.
We are also informed the entire Tea Industry would be active participants. The Planters’ Association of Ceylon, (PA) The Colombo Tea Traders Association, (CTTA) The Tea Brokers Association (BA), Tea Exporters Association (TEA), The Planters, Tea Small Holders, The private Tea factory Owners Association, would all have participatory slots to ensure wide participation.
The Tea board had received approximately 441 applications. Of which 40 were selected by an expert selection panel.
Selections were from seven geographical locations selected from diverse elevation origins including Ruhuna, Sabaragamuwa, Nuwara Eliya, Dimbula, Uva, Uda Pussellawa, and Kandy,
Innovative Teas were from Two Uva Estates, and three from Southern Factories.
This week 7.7 million kilos would be on offer.
After months of low weekly offerings, this week will see seven odd million being auctioned.
Market conditions are good Brokers said; prices will hold. Likelihood of minor plus variances too will not be ruled out.
But according to the Weekly Tea market report published by Asia Siyaka Tea Brokers Ltd., major tea crop producers will have to contend with further drop in production.
Quoting publication from Managing Director McLeod Russel India Ltd., Aditya Khaltan, he said global drop in production will worsen and give rise to unprecedented increase in prices.
This would be completely contrary to the Food and Agriculture Organisation rational that production would over shoot demand and drop in prices would be inevitable.
We are now left with two possibilities; but encouraged to accept that shortage in the Sri Lanka context could be reduced subject to conducive weather conditions effective march this year.
Meantime prices could improve in the short term because of impending Western quality being experienced which could have positive impact on market strengths.
We asked one Broker who declined to be identified, on finding new markets to off set those lost. He said it is the job of the Tea Board to seek new locations for new markets.
The Tea Board, we are aware, apart from traveling to distant lands presumably to market our tea, have nothing tangible to show they have achieved new markets to sell Ceylon Tea.
source - www.island.lk
The Japan Tea Association will host the Ceylon Estate Tea of the Year competition this year in Tokyo.
This year will be its third exposure. Previously the US held the competition. That was about three years ago. Both previous contests were in the US.
There is this year addition of a new dimension to what will happen in Japan.
Innovative Tea will also be exhibited and subject to competition.
Innovation will include hand rolled tea, and varied product processes that could also have tea processed into balls; or sun dried long leaf products.
All competitors have been encouraged to be as innovative as possible and stretch imagination to its extreme to ensure exhibits reach high standards to fall in line with guide lines demanded.
We had this information from Tea Brokering sources who also said the Tea Board will also have stall organization facilities and ensure Ceylon Tea standards are maintained.
We are also informed the entire Tea Industry would be active participants. The Planters’ Association of Ceylon, (PA) The Colombo Tea Traders Association, (CTTA) The Tea Brokers Association (BA), Tea Exporters Association (TEA), The Planters, Tea Small Holders, The private Tea factory Owners Association, would all have participatory slots to ensure wide participation.
The Tea board had received approximately 441 applications. Of which 40 were selected by an expert selection panel.
Selections were from seven geographical locations selected from diverse elevation origins including Ruhuna, Sabaragamuwa, Nuwara Eliya, Dimbula, Uva, Uda Pussellawa, and Kandy,
Innovative Teas were from Two Uva Estates, and three from Southern Factories.
This week 7.7 million kilos would be on offer.
After months of low weekly offerings, this week will see seven odd million being auctioned.
Market conditions are good Brokers said; prices will hold. Likelihood of minor plus variances too will not be ruled out.
But according to the Weekly Tea market report published by Asia Siyaka Tea Brokers Ltd., major tea crop producers will have to contend with further drop in production.
Quoting publication from Managing Director McLeod Russel India Ltd., Aditya Khaltan, he said global drop in production will worsen and give rise to unprecedented increase in prices.
This would be completely contrary to the Food and Agriculture Organisation rational that production would over shoot demand and drop in prices would be inevitable.
We are now left with two possibilities; but encouraged to accept that shortage in the Sri Lanka context could be reduced subject to conducive weather conditions effective march this year.
Meantime prices could improve in the short term because of impending Western quality being experienced which could have positive impact on market strengths.
We asked one Broker who declined to be identified, on finding new markets to off set those lost. He said it is the job of the Tea Board to seek new locations for new markets.
The Tea Board, we are aware, apart from traveling to distant lands presumably to market our tea, have nothing tangible to show they have achieved new markets to sell Ceylon Tea.
source - www.island.lk
Tuesday, January 19, 2010
SRI LANKA SHARE MARKET DOWN - PROFIT TAKING CONTINUES
19/01/2010 - Sri lanka share market came down sharply to day due to profit taking. ASI was down by 45.25 points to close at 3483.30 (lowest in several weeks) & Millanka index was down by 63.51 points to close at 4010.51. Turn over for the day was Rs 739 m.n. which was supported by local buying. Foreign participation at minimum levels where foreign buying was Rs 75 m.n as against selling of Rs 51m.n.There were 34 positive contributors as against 120 negative contributors.TOP GAINERS FOR THE DAY TOP LOSERS FOR THE DAY
CROSSINGS FOR THE DAY
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