BIZ- BRIEFS

Manning Market to Peliyagoda

The Cabinet approved the relocation of the Manning Market in Pettah to Peliyagoda, a Cabinet spokesman said. The Manning Market is the country’s primary wholesale market for vegetables and fruits.

Global Hospitals conduct Neurosciences program

Members of the Global Hospitals Group, India demonstrate their commitment to reinforce the bond with the Sri Lankan medical fraternity. Global Hospitals Group, India, organised a Continuous Medical Education (CME) program at the Colombo National Hospital, General Hospital Kandy and Gampola on Neurosciences and Spinal disorders, together with the Sri Lankan Information and Assistance Centre, Forte International Pvt Ltd.

The medical and surgical team from India was led by Dr. K. Sridhar, an acclaimed Neuro and Spine surgeon, who is the Director, Institute of Neurosciences and Spinal Disorders with over 20 years experience in his area of speciality.

Speedy Gold financing by ETI

Edirisinghe Trust Investments (ETI), is registered with the Central Bank of Sri Lanka. In the company’s 42 years of operations, it has built a reputation for speed, flexibility and personalised service that has earned the trust of customers over the years.

The company was founded by E.A.P. Edirisinghe.

‘Our customers choose us over other gold financing service providers because we provide a modern, authoritative service that stretches back four decades’, said Sandun Kumarasiri, General Manager – Gold Financing and Sales. ‘We are the only Registered Finance Company (RFC) with the technical knowhow, equipment and skills to accurately assess gold.

Having the ability to accurately assess gold means that we are in a position to offer the highest price for gold as well as identify imitation gold. In the long- run, this allows us to eradicate risk such as Non-Performing Loans (NPL).’ The division’s NPL is currently at zero percent.

Richard Peiris introduces tea colour sorters

Richard Peiris and Co (ARPICO) introduces Tea Colour Sorter machines which ensures value addition and benefit for the improvement of quality standards of tea for the large and small scale tea manufacturers. The Tea Colour Sorter is manufactured by Anuhui Shongke Optic Colour Sorter Company, one of the top five ranked companies in China and its state-of-the-art technology will ensure efficient tea sorting process, improving quality standards and securing the demand for Sri Lanka Tea in the International market.

Fitch affirms Singer (Sri Lanka) PLC at ‘A(lka)’

Fitch Ratings Lanka has affirmed the National Long-Term rating on Singer (Sri Lanka) PLC’s (Singer) senior unsecured notes at ‘A(lka)’. The Outlook is Stable. The rating reflects Singer’s market position as one of Sri Lanka’s largest consumer durables retailers, its established franchise and extensive distribution network, a multi-brand product portfolio that is diversified across price points, and well-managed financing operations. The rating also reflects Singer’s improved credit profile over 2010 and the nine-months to end-September 2011 (9M11) as expected.

Wage rise in China

Authorities say they expect China’s average minimum wage to grow at least 13 percent annually. The Sichuan province in southwest China has increased the minimum wage to attract workers amid rapidly rising cost of living. Sichuan raised the minimum monthly wage by 23.4 percent starting on 1 January, State news agency Xinhua said. That is one of the biggest increases, with most other provinces raising wages in line with government advice of 13 percent. - BBC

Kothalahimbutu crackers gain popularity

Ceylon Biscuits Ltd (CBL) Munchee’s latest invention, the Kothalahimbutu biscuit using Sri Lanka’s indigenous medicinal herb has gained popularity in local and overseas markets as a snack with the lowest Glycaemic Index (GI level) in the world.

The manufacture of this product was a result of intensive research and development undertaken by the Industrial Technological Institute. Experiments were carried out at ITI and the Medical Faculty of Sri Jayewardenepura University.

Copper rises

Copper rose on after better-than-expected German business sentiment eased some concerns about the health of Europe’s largest economy, with a weak dollar helping cement gains for metals.

Three-month copper on the London Metal Exchange (LME) rose to $7,365.50 at 12:03 SA time, up from a close of $7,260 on Monday, although trading volumes have been tapering off ahead of the year-end holiday season. German business morale rose sharply in December, defying expectations for a decline and underscoring the strength of the economy in the face of a sovereign debt crisis that has hammered growth in other euro zone members. A rebound in the euro against the dollar also helped boost copper’s gains. A weak dollar makes commodities priced in the US unit cheaper for holders of other currencies.

Reuters