Export income drops 7.4 percent
Ban on seafood exports to EU the main cause:
The external sector, which is backed by strong
export earnings, was hit by poor export performance in the first
quarter of this year. Cumulative export earnings decelerated 0.3
percent to US$ 3,569 million from January to April this year
compared to last year, a report on ‘Recent Economic Developments’
released by the Central Bank last week revealed.
Go-slow causes extensive losses to tea companies
The ‘go slow’ campaign launched last Monday by
tea estate workers demanding a reasonable wage hike has caused
extensive loss to tea companies which have shut down operations.
Estate workers launched trade union action demanding a daily wage of
Rs. 1,000 which plantation companies have so far refused to agree to
owing to the losses they incur due to the rise in cost of production
and the drastic drop in tea and rubber prices.
Over 10,000 visitors expected for FACETS 2015
Having started in 1991 with just 50 booths at
the Hilton, to filling up the BMICH exhibition centre with over 150
booths, the international gem and jewellery exhibition has made a
long and successful journey, Chairman, FACETS Sri Lanka 2015, Juzar
Adamaly told the launch of the flagship event of the Sri Lanka Gem
and Jewellery Association.
IT, BPM, a billion dollar sector soon
The IT and BPM (Business Process Management)
sector though often downplayed by policy makers has enormous
potential to be a billion dollar industry. The export revenue from
the sector is expected to be around US$ 850 this year and US$ 1
billion by end next year, Chairman, Sri Lanka Association of
Software and Services Companies (SLASSCOM), Jayantha de Silva said.
Cyber crime, a growing phenomenon
Cyber security is about building confidence and
security in the use of ICT. The need of the hour is the awareness of
possible threat and speed of response, Vice President, Certis
Integrated Solutions Group, Singapore, Edwin Lim told a presentation
in Colombo last week. Cyber space is the domain generated by the
interconnection between computers and telecommunication networks to
store, modify and exchange data via networked systems and associated
physical infrastructures without regard to physical geography.
Dialog up investments in Sri Lanka
The setting up of a stable government, will see
a revival of foreign investments in the country, Chief Executive
Officer, Dialog, Hans Wijayasuriya told guests following the
‘ringing of the opening bell’ ceremony at the Colombo Stock Exchange
to mark 10 years of the opening of its share issue on the CSE.