Gem and jewellery exports continue upward trend

Gem, jewellery and diamond exports continued its upward trend in earning foreign exchange by recording an overall growth of 22 percent. The sector’s growth in terms of value increase was from Rs. 57.856 b to Rs. 70.443 b, National Gem and Jewellery Authority (NGJA) Chairman and CEO, Prasad Galhena said.

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MAS Fabric Park receives ISO certification

MAS Fabric Park, the first privately- operated industrial zone in Sri Lanka received ISO certification for its environment management system. Park Director, Misver Deane said that the certification followed diverse efforts to enhance environmental performance and management system. “It is a key milestone in a systemic and long-term approach to building an environmentally business.

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SLSEA to increase renewable energy

The contribution of renewable energy to the national grid will be increased to 10 percent by 2015 and 20 percent by 2020, Sri Lanka Sustainable Energy Authority (SLSEA), Director General Dr. Thusitha Sugathapala said. He said that at present the renewable energy sector generates around 275 MW of power. SLSEA hopes to increase it by around 40 to 50 MW this year.

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Spice, a billion dollar industry by 2016

The spice industry has recorded a growth in volume and value in 2012 in the hope of becoming a billion dollar industry by 2016. Welcoming the consistency and incentives in the last three budgets, Spice Council Chairman, Sarada de Silva said that the Spice Council is accruing the results of this new environment. The industry has recorded a marginal increase in exports,

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LOLC Micro Credit secures $ 55.5 m syndicated loan

LOLC Micro Credit Ltd (LOMC) secured a syndicated loan of $ 55.5 m. This long-term syndicated loan was facilitated by a consortium of Development Financial Institutions (DFIs) from around the world. LOMC, the microfinance arm of LOLC Group, is one of the leasing companies that is exclusively dedicated for micro credit in the country.

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Korea provides $ 290 m soft loan

A framework arrangement which will enable the Government to obtain a soft loan from the Korean Government of up to $290 m till 2015 was signed on December 31, 2012. This framework arrangement is based on the MoU which was signed between the two countries at the summit meeting during the state visit of President Mahinda Rajapaksa to Korea last April.

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