Tea market will regain momentum

There is a light at the end of the tunnel for the tea industry with the onset of rains which is expected to revive production which dropped drastically due to the prolonged drought. Brokers said many regions are experiencing sunny mornings and evening showers, the weather is seen as being conducive for growing tea.

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Continued capacity-building activities:

Economy steady 8% growth

The Sri Lankan economy will expand 7.6 percent in 2012 slightly above its potential output level on the back of continued capacity building activities. The Group Chief Economist, RAM Ratings, Dr. Yeah Kim Leng said that after a robust growth of 8.0 percent in 2010 the country’s economy maintained its growth momentum in the first half of 2011 clicking an 8.0 percent Y-O-Y growth.

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Industries Ministry to develop comprehensive rubber database

The Ministry of Industry and Commerce (MIC) will develop a comprehensive database on the country’s rubber sector. “The first trade focused national rubber survey of this nature, is an attempt to comprehend the rubber industry in the country”, said Additional Secretary, Ministry of Industry and Commerce Asitha Seneviratne.

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State agencies should drop archaic rules to cut delays – Minister Basil Rajapaksa

Mnister of Economic Development Basil Rajapaksa last week said that inefficiency, old procedures and bureaucratic bottlenecks caused poor rankings of Sri Lanka in some sectors in the Ease of Doing Business ranking. He was addressing a seminar on improving business indicators of the country in Colombo last week.

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Southern Highway opening: officials at sixes and sevens

The much talked about Southern Express Highway Project has come under criticism with no apparent date fixed for its opening. Officials of the Ministry of Highways could not confirm the exact day on which the highway would be opened, except to say that it will be commissioned this month.

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Marked drop in cigarette production

Cigarette production in Sri Lanka has dropped by around 20 percent during the past five years, according to government statistics. Cigarette production has dropped from 4900 million to 4200 million from 2005 to 2010, the survey revealed.

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Hayley's new extractor, a boon to local fibre industry

A locally-designed and fabricated semi-automated fibre processing mill that integrates several stages of the process of extracting fibre from coconut husks was commissioned in Sri Lanka, enhancing efficiency, product quality, safety and earning potential.

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Packaging material has multi-functional benefits

Packaging material has multi-functional benefits to the manufacturing sector which is growing at a rapid pace, said Packaging Development Centre Director, J.D. Amarasooriya. He was addressing a ceremony to launch Lankapack 12 - at the International Packaging Exhibition recently.

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